Financial Analyst

Job Summary:

A Financial Analyst plays a pivotal role in a company's financial decision-making process by overseeing and optimizing cost-related activities. This position is responsible for analyzing cost data, identifying cost-saving opportunities, and providing valuable insights to management for informed business decisions as well as risk management. The Financial Analyst ensures that cost control strategies are implemented effectively and that the organization's financial resources are utilized efficiently. Alongside optimizing company resources, this function must also be mindful of industry risks, particularly concerning the collection of sales proceeds from overseas customers.

Key Responsibilities:

Risk Management – O2C - Debtors Management:

• Work together with the marketing and finance departments to examine all outstanding debtors using the finance department’s weekly debtors report.
• To collaborate closely with marketing teams on outstanding invoices and payments that are overdue by more than 15 days.
• Special attention to be given in the following areas for long-due customers:
  1. Whether or not the goods have been cleared from the destination port.
  2. To check for any pending shipments.
  3. To enquire about the current market price of the good at destination and compared with sales invoice price.
  4. To enquire about any alternative buyer for the cargoes that stranded at the destination port (only applicable for our own brands).
  5. To highlight to head of department if find any issue that need urgent attention.
• To monitor and review existing Customers’ Credit Limit and propose to the management if any adjustment is needed considering the trading level and payment track record of each customer.

Cost Analysis – P2P:

• Conduct detailed cost analysis of Profit and Loss Analysis, various business operations, projects, and processes.
• Analyze cost trends, variances, and key performance indicators to identify areas for improvement.
• Monitor and enforce compliance with cost control measures throughout the organization and to reduce unnecessary expenditures.
• Work closely with department heads to identify cost-saving opportunities and facilitate cost reduction initiatives.

Data Analysis and Reporting:

• Collect and maintain cost-related data and records for reporting purposes.
• Prepare regular reports and presentations for senior management, highlighting key cost analysis findings and recommendations.
• Identify opportunities for process improvement and automation to enhance cost efficiency.
• Communicate complex financial data in a clear and concise manner to non-financial stakeholders.

Continuous Improvement:

• To conduct an internal audit of Original Bill of Lading in a safe box and other critical records from time to time.
• Identify opportunities for process improvement and automation to enhance cost efficiency.
• Stay current on industry best practices and emerging trends in cost analysis and management.

Additionally, this role may require flexibility to undertake ad-hoc assignments or assume responsibilities outside the outlined job description, as necessary and directed by the management. The incumbent should demonstrate an adaptable and proactive approach in fulfilling any supplementary duties that contribute to the efficient functioning of the team or organization.