1. Job Purpose
The Finance Director is responsible for the overall financial management, strategic financial planning, and operational financial control of the company. This includes establishing and maintaining robust internal control systems, ensuring accuracy in costing and reporting, optimizing cash flow, managing treasury and foreign exchange exposures, and supporting management in strategic decision-making through sound financial analysis and insights.
2. Key Responsibilities
A. Financial Control & Reporting
- Ensure accurate and timely preparation of financial statements (P&L, Balance Sheet, Cash Flow) in compliance with VAS / IFRS and internal reporting standards.
- Oversee the monthly, quarterly, and annual closing processes, ensuring all accounting entries and adjustments are properly recorded.
- Implement robust internal control systems to safeguard company assets, prevent fraud, and ensure compliance with company policies and statutory requirements.
- Conduct periodic financial reviews and variance analyses to highlight risks, opportunities, and business performance trends.
- Coordinate annual audits and ensure timely submission of audited financial statements.
B. Costing, Budgeting & Forecasting
- Lead the annual budgeting and rolling forecast process, ensuring alignment with strategic goals and operational capacity.
- Ensure accurate product costing and cost control, including BOM (Bill of Materials), labor, and overhead allocations.
- Establish standard cost systems and monitor deviations between actual and standard costs to drive cost improvement initiatives.
- Work closely with operations and supply chain to analyze production variances, material usage, and efficiency ratios.
C. Cash Flow & Working Capital Management
- Oversee the company’s cash flow planning, forecasting, and daily liquidity management to ensure optimal funding levels.
- Monitor accounts receivable, accounts payable, and inventory levels to optimize working capital.
- Implement cash flow improvement initiatives, such as payment term negotiations, supplier financing, and inventory optimization.
- Ensure compliance with internal cash handling, disbursement, and approval policies.
D. Treasury & Foreign Exchange Management
- Manage banking relationships and ensure effective utilization of banking facilities, including credit lines and loan covenants.
- Oversee treasury operations, including short-term investments, intercompany loans, and interest rate management.
- Manage relationships with financial institutions and negotiate financing terms
- Optimize debt structure and financial costs
- Ensure liquidity meets business operational needs
- Develop and implement FX risk management strategies to minimize the impact of currency fluctuations on P&L and cash flow.
- Maintain regular FX exposure reporting and sensitivity analysis for management review.
E. Leadership & Team Management
- Supervise, coach, and develop the Accounting and Finance team to ensure high performance and professional growth.
- Foster a culture of accountability, compliance, and continuous improvement within the finance function.
- Ensure the team maintains up-to-date knowledge of accounting standards, tax laws, and financial best practices.
- Collaborate cross-functionally with other departments (sales, procurement, manufacturing, HR) to ensure alignment of financial objectives.
