Finance Manager

Job Description

We are seeking a highly skilled and experienced Finance Manager to oversee the finance department in our precious metals trading business. This role requires strong leadership and financial management skills to ensure all daily financial activities align with regulatory standards, internal policies, and business objectives. As a Finance Manager, you will be responsible for supervising the finance team, driving process improvements, and ensuring accurate and timely financial reporting. Additionally, you will manage the creation and enforcement of internal controls, maintain SOPs, and ensure compliance with all tax, audit, and financial regulations.

Key Responsibilities

1) Payments Processing & Management

Day-to-Day Tasks:

• Monitor Inbound & Outbound Payments: Oversee and track all incoming payments from customers and outgoing payments to vendors, ensuring these payments are correctly recorded in the financial system and aligned with the company’s payment schedules.
• Perform daily checks to ensure that payment reconciliations are completed, and any discrepancies are promptly resolved.
• Vendor Payment Assistance: Ensure vendor invoices are verified and approved, ensuring payment terms and amounts are correct. Regularly liaise with vendors to clarify payment terms and resolve any payment disputes.
• Customer/Vendor/Platform Data Synchronization: Supervise the accuracy of customer, vendor, and platform records within the accounting system. Ensure that any updates or changes to records are immediately reflected in the database to prevent errors in payment processing or financial reporting.

Managerial Tasks:

• Lead the payments team to ensure payments are processed in compliance with the company’s cash flow management policies.
• Review payment processing workflows and ensure that they align with industry best practices for efficiency and risk mitigation.

2) Back Office & Middle Office Finance Support

Day-to-Day Tasks:

• Daily Financial Transaction Management: Oversee the posting of daily financial transactions into the general ledger (GL). This includes trading transactions, investments, bullion sales, and purchase reconciliations.
• Ensure all trade details are accurately recorded and reconciled with trading platform data.
• Back Office Financial Operations Oversight: Manage the process of recording gold bullion transactions, ensuring all relevant documentation is collected and verified, including purchase invoices, sales receipts, and contracts.
• Ensure compliance with all relevant laws, including AML (Anti-Money Laundering) and KYC (Know Your Customer) for trading operations.
• Middle Office Risk Management Coordination: Monitor and coordinate with the middle office to assess market risks related to bullion price fluctuations, foreign exchange rates, and interest rates that could impact the company's financials.
• Ensure financial positions are updated daily based on trading activity, and exposure limits are closely monitored.

Managerial Tasks:

• Supervise the back-office team’s daily operations and ensure their work aligns with company policies, accounting standards, and risk management procedures.
• Collaborate with the middle office to monitor and manage risks related to bullion trading, ensuring appropriate hedging strategies are in place.

3) Comprehensive Accounting & Reporting Functions

Day-to-Day Tasks:

• Month-End Closing Process: Oversee month-end closing activities, ensuring journal entries are accurately posted and reconciled in time for monthly financial reporting.
• Account Reconciliation: Supervise the monthly reconciliation of balance sheet and income statement accounts, including petty cash, accounts payable, accounts receivable, and bank accounts.
• Tax Filings (SST and E-Invoicing): Oversee the preparation and filing of Malaysian Sales and Service Tax (SST) returns and e-invoicing returns to ensure compliance with the latest tax regulations.

Managerial Tasks:

• Lead the finance team during the month-end closing process, ensuring all reporting deadlines are met and reconciliations are completed in a timely manner.
• Review and approve final financial reports, ensuring they reflect the company’s financial position and are free from material misstatement.
• Oversee the preparation of year-end financial statements and ensure compliance with the applicable standards and audit requirements.

4) Compliance, Reporting & Financial Control

Day-to-Day Tasks:

• Internal Financial Reporting: Generate and review detailed financial reports (balance sheets, P&L statements, cash flow statements) for internal stakeholders.
• Tax Compliance: Ensure compliance with local tax regulations by overseeing the timely filing of SST, GST (if applicable), and income tax returns.
• Audit Preparation: Facilitate the preparation for annual audits by gathering relevant financial documents and working closely with auditors to ensure all necessary information is provided.

Managerial Tasks:

• Oversee the finance team’s efforts to ensure accurate and timely financial reporting.
• Ensure all financial reports and tax filings comply with local statutory requirements and international accounting standards.
• Maintain a close working relationship with external auditors, tax authorities, and legal advisors to ensure compliance.

5) Discrepancy Investigation & Issue Resolution

Day-to-Day Tasks:

• Investigate financial discrepancies by reviewing accounting records and ensuring that any financial errors are promptly flagged and investigated.
• Liaise with team members to resolve discrepancies in accounts such as inter-company transactions or revenue mismatches.
• Resolve accounting irregularities by investigating discrepancies in reconciliations and working with the accounts assistant to make the necessary adjustments or corrections.

Managerial Tasks:

• Supervise the team in investigating financial discrepancies and ensuring that corrective actions are promptly implemented.
• Implement and enforce corrective actions across the department to prevent recurring issues or financial errors.

6) Ad-Hoc Finance Projects & Process Improvement

Day-to-Day Tasks:

• Support management with special finance-related projects, including system upgrades, process redesigns, and financial strategy development.
• Participate in financial modeling for new business ventures or acquisitions related to the precious metals industry.
• Month-End Closing: Coordinate and complete month-end closing activities, ensuring that journal entries are posted, financial transactions are reconciled, and full set of month-end reports are prepared on time.
• Bank Term Loans Schedule, Bank Withdrawal Loan Schedule and Hire Purchase schedule : Preparation of Schedules and ensure timely payments, posting of journal entries adjustments and ensure completeness of Statement of Accounts's reconciliation.
• Account Reconciliations: Review of AR & AP reconciliations and preparation of monthly revaluation including ensure the correct posting of reconciliations as prepared by Finance Manager and other teams on relation to the balance sheet and income statement accounts, including communicating and identifying and resolving discrepancies promptly.

Managerial Tasks:

• Lead the development of new financial systems or tools to improve accuracy, reduce costs, and improve operational efficiency.
• Manage cross-functional teams in implementing process improvements, ensuring buy-in from all stakeholders.

Managerial Tasks

Internal Controls Role:

The Finance Manager will play a critical role in overseeing and enforcing the company’s internal controls to ensure the integrity of financial reporting and compliance with industry standards.

Internal Controls Responsibilities

• Develop & Implement Internal Control Procedures: Lead the development, implementation, and maintenance of internal controls across the finance function, ensuring that all transactions are properly authorized, recorded, and reported.
• Monitoring Internal Controls: Regularly monitor and assess internal controls to ensure they are operating effectively.
• Segregation of Duties: Ensure proper segregation of duties within the finance team to mitigate the risk of fraud, errors, and financial misstatements.

Standard Operating Procedures (SOPs)

• SOPs: Assist on the preparation, implementation, maintain, monitoring and update detailed SOPs for processing inbound and outbound payments.
• Accounting Entries & Reconciliation Procedures: Develop and enforce SOPs for journal entries, general ledger posting, and reconciliation processes.
• Audit and Compliance SOPs: Assist on the preparation of SOPs related to internal and external audits, ensuring clear processes for data collection, documentation, and communication with auditors.

Financial Reporting, Analysis and Audited Financial Statements

• Prepare accurate financial statements, including balance sheets, income statements, and cash flow statements, ensuring compliance with industry standards and regulations.
• Analyze financial data to identify trends, variances, and opportunities for cost optimization.
• Provide detailed financial forecasts to support strategic decision-making.
• Notes To Financial Statements: Assist Finance Manager on compilation of documentation for Notes To Financial Statements.
• AFS: Preparation of information pertainting to and checking of the Audited Financial Statements.

Consolidation, Consolidation Reporting Package and Announcement:

• Group Consolidation Reporting Package: Prepraration of financial data for the Group Consolidation Reporting Package, including related parties transactions, for Group reporting purposes.
• Combined Accounts: Preparation of Monthly Combined Accounts for the Management
• Consolidation: Preparation of Consolidation of Financial Statements including consolidation worksheets.
• Announcement: Preparation of Announcements and MD&A including announcement worksheets.

Inventory Management of Precious Metals

• Monitor and manage the inventory of precious metals, tracking price fluctuations and ensuring optimal stock levels.
• Implement inventory management strategies to prevent stockouts or overstock situations, balancing supply with market demand.

Compliance and Regulatories and Financial Control

• Adhere to Accounting Standards: Ensure all accounting practices are compliant with local regulatory standards, ensuring that financial transactions and reports meet required legal and regulatory frameworks.
• Adhere to the Compliance and Requirements of Bullion Indsutry : Adherence to financial regulations specific to the precious metals industry, including reporting requirements and tax obligations.
• Adhere to Related and Relevant Regulatories Compliance: Ensure all transactions, best practices and compliance of regulatories from time to time basis and ensure accuracy, completeness and on timely basis to the required legal and regulatory frameworks.
• Internal Control and SOPs: Assist on the implementation and monitoring of itnernal controls and SOPs including complaince requirments and policies that are in line with company policies.
• Annual Review: Preparation and submission of information pertaining to Annual Review (for compliance from Statutories, Bank Negara Manaysia, Shariah Regulation, Legal Banking, ALMA, Credit Annual Review and etc)
• Annual Financial Statement Preparation: Assist in the preparation of year-end financial statements and other reports required for audits, working closely with auditors to facilitate the audit process.
• Tax Compliance: Preparation of corporate tax returns and filings, ensuring full compliance with tax regulations and working with external consultants or tax authorities when necessary.
• Tax Compliance: Preparation of Tax CP-204 and ensure timely payment of instalment and submission of Withholding Tax.
• Audit Compliance: Support and assist the Finance Manager on the preparation of audit schedules, and assist the Finance Manager pertaining to the annual Company's audit requirements and ensuring full cooperation and compliance with MRFS regulations.

Risk Management

• Identify financial risks related to market volatility, currency fluctuations, and geopolitical factors affecting precious metals.
• Develop and implement hedging strategies to mitigate identified risks.
• Monitor the effectiveness of risk management strategies and adjust them as necessary.

Strategic Planning and Decision Support

• Collaborate with senior management to develop long-term financial strategies aligned with company goals.
• Provide financial insights and recommendations to support investment decisions, including capital expenditures and expansion plans.
• Evaluate the financial viability of new projects, products, or markets.

Team Leadership and Development

• Lead and mentor the finance team, fostering a culture of continuous improvement and professional growth.
• Set performance objectives, conduct regular evaluations, and provide training opportunities.
• Promote collaboration within the finance department and across other business units.

Inter-Office Finance Support, Comprehensive Accounting & Reporting Functions:

Front Office Financial Operations: Oversee, coordinate and manage day-to-day financial operations, ensuring all transactions are recorded and processed accurately, and assist in streamlining operational workflows to improve efficiency on collection and fulfilment.

Middle Office Support: Assist in managing middle office tasks, including transaction verification, liquidity management, and monitoring risk exposure, ensuring all operations are in line with company policy and industry standards.

Inter-Departments and Inter-Companies: Coordinate with Inter-departments and assist the Finance Manager on collate, complie and reports for submission to the Inter-departments and Inter-Companies reporting including sharing and mange worksheets for supporting documents and inter-reconciliations.companies on related transactions including collection, fulfilment of Vendors, Customers and Stocks and non-trade transactions.

Administrative Support: Provide general administrative assistance to the finance team, including maintaining files, preparing reports, and liaising with other departments on finance-related matters.

Daily and Month-End Closing: Coordinate and complete reports for Daily and monthly for month-end closing activities and reconciliations Vendors and Customers on timely basis.

Account Reconciliations: Perform monthly reconciliations of balance sheet and income statement accounts, identifying and resolving discrepancies promptly.

E-invoicing Filings: Prepare and file accurate e-invoicing returns in accordance with Malaysian tax regulations, ensuring timely and compliant submissions.

Stock-Take and Inventory Management: Assist in conducting physical stock takes, ensuring inventory is accurately recorded, and work with the relevant departments to resolve discrepancies.

Financial Statements: Assist Finance Manager in preparation of monthly financial statement, ensuring accuracy for Finance Manager review and verification.

Financial Reporting and Analysis: Assist Finance manager on collate information pertaining to analytical support, data on comparing actual financial performance against budgets and forecasts.

Group Consolidation Reporting Package: Assist Finance Manager on collate financial data for the reporting purposes.

Stakeholder Communication

• Assist on the preparation and present financial reports to stakeholders, including investors, board members, and regulatory bodies.
• Communicate complex financial information in a clear and understandable manner.
• Address stakeholder inquiries and provide explanations as needed.

Qualifications & Skills

Education: Bachelor's degree in Accounting, Finance, or related field. Master’s degree or professional certifications (ACCA, CPA, CIMA) is a plus.

Experience: A minimum of 5-8 years of experience in financial management or accounting, having experience in leading accounting teams, managing month-end close processes, and overseeing financial reporting. Preference for in commodities, precious metals, or financial services sectors.

Technical Skills: Proficiency in accounting software (e.g., SAP, QuickBooks, or similar ERP systems). Strong Excel skills (advanced formulas, pivot tables, VLOOKUP, etc.). Solid understanding of tax regulations and financial reporting requirements.

Personal Attributes:

• Strong analytical skills with an ability to identify and resolve complex financial issues.
• Exceptional communication and interpersonal skills to liaise with senior management, auditors, and other stakeholders.
• Excellent organizational skills and the ability to manage multiple tasks simultaneously.
• High level of integrity, attention to detail, and a strong commitment to confidentiality and ethical financial practices.

Benefits:

• Competitive salary and performance-based bonuses.
• Professional development opportunities and career growth.
• Comprehensive health and insurance benefits.
• Collaborative and dynamic work environment with exposure to the precious metals industry.
• Company perks and incentives aligned with performance and contributions.

Job Types: Full-time, Permanent

Pay: RM10,000.00 - RM18,000.00 per month

Benefits:

• Opportunities for promotion
• Professional development

Schedule:

• Monday to Friday

Supplemental Pay:

• Performance bonus

Application Question(s):

• How long is your notice period?
• What is your expected salary?

Work Location: In person

Expected Start Date: 05/01/2025