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Position Overview:
We are seeking a detail-oriented and strategic Finance & Accounts Manager to oversee and manage the financial activities of the company. This role is crucial in ensuring effective financial planning, accurate reporting, and robust internal controls. The ideal candidate will have experience in managing budgets, financial analysis, and reporting in a retail environment. Strong leadership skills and the ability to collaborate across departments are essential.
Key Responsibilities:
1. Financial Planning & Budgeting:
- Develop and manage the company’s annual budget in coordination with department heads.
- Monitor budget performance and recommend corrective actions to meet financial targets.
- Provide financial forecasts and analyze variances between actual and budgeted performance.
2. Financial Reporting & Analysis:
- Prepare accurate and timely financial reports, including profit & loss statements, balance sheets, and cash flow statements.
- Conduct financial analysis to support business decision-making and highlight trends or risks.
- Ensure compliance with accounting standards (e.g., MFRS/IFRS) and company policies.
3. Accounts Payable & Receivable Management:
- Oversee the processing of invoices, payments, and receivables to ensure smooth cash flow.
- Manage relationships with vendors and customers to ensure timely collections and payments.
- Monitor aging reports and take appropriate actions to reduce outstanding receivables.
4. Cash Flow & Treasury Management:
- Maintain oversight of the company’s cash flow to ensure adequate liquidity.
- Optimize working capital by managing inventory, receivables, and payables effectively.
- Collaborate with banks and financial institutions to manage banking facilities.
5. Internal Controls & Compliance:
- Establish and maintain strong internal controls to safeguard company assets.
- Ensure compliance with statutory and tax regulations, including KWSP, SOCSO, LHDN, and SST reporting.
- Coordinate with external auditors for statutory audits and ensure timely resolution of audit queries.
6. Retail-Specific Financial Management (Preferred Experience):
- Monitor the financial performance of individual retail outlets and provide insights to store managers.
- Work closely with the retail operations team to optimize inventory levels and manage operating expenses.
- Assist in setting pricing strategies and promotional budgets based on financial analysis.
7. Team Leadership & Development:
- Lead, mentor, and develop the finance and accounts team to achieve high performance.
- Conduct regular performance reviews, set clear KPIs, and provide ongoing coaching to team members.
- Identify training needs and foster a continuous learning environment within the team.
8. ERP Systems & Process Improvement:
- Leverage ERP systems to ensure efficient financial processes and data accuracy.
- Continuously improve accounting processes and reporting workflows to enhance efficiency.
- Ensure accurate integration of financial data with procurement, inventory, and operations systems.
9. Risk Management:
- Identify and assess financial risks, including credit, liquidity, and market risks.
- Develop and implement risk mitigation strategies to safeguard the company’s financial health.
- Maintain accurate records for insurance policies and manage claims when necessary.
10. Collaboration with Internal & External Stakeholders:
- Partner with senior management to align financial strategies with business objectives.
- Collaborate with the procurement, operations, and sales teams to control costs and enhance profitability.
- Liaise with external auditors, tax consultants, and regulatory bodies as needed.
Key Requirements:
- Bachelor’s degree in Accounting, Finance, or a related field (Professional certification such as CPA, ACCA, or CIMA is an advantage).
- 5+ years of experience in finance and accounting, with a preference for candidates with retail or FMCG experience.
- Strong knowledge of accounting standards (MFRS/IFRS) and financial regulations.
- Proficiency in financial software and ERP systems (e.g., SAP, Oracle, or QuickBooks).
- Exceptional analytical, problem-solving, and leadership skills.
- Excellent communication skills with the ability to collaborate across functions.
- Experience managing budgets, cash flow, and working capital in a fast-paced environment.
