Manager - Finance APAC
Summary of Role
Manage the comprehensive operational finance function of CIMA Asia Pacific including cash management, general ledger and the deliverables from KL hub on accounts payable and accounts receivables. Ensure compliance to regulatory and statutory requirements, local standards and The Association policy. Provide support in driving an efficient and compliant business operation. Co-ordinate and ensure consistent finance support from the regional FBPs to the Asia Pacific management team.
Accountabilities & Responsibilities
- Ensure cash management and general ledger functions as well as deliverables from KL hub on accounts payable and accounts receivables are managed in line with The Association policy and as per agreed service standards.
- Act as the key liaison between the regional accounts functions for the Asia Pacific and the KL hub.
- Maintain debtor days and creditor days in line with agreed standards.
- Manage the monthly month-end calendar for Asia Pacific countries ensuring accurate and timely closure of general ledger. Review and conduct key sanity checks prior to closure.
- Support journal recording process of Asia Pacific payroll.
Finance Business Partnering
- Ensure monthly detailed income and expenditure statements, balance sheet and relevant country management information are prepared by the team and circulated for decision making.
- Deliver evaluation of business cases and new ideas, advising management on long term financial implications of decisions, and challenging and developing assumptions based on business trends and underlying value drivers.
- Determine appropriate action/setup processes to accommodate new business needs/complexities related to Asia Pacific markets in compliance with Association policy and regulatory requirements.
- Manage the performance of the Asia Pacific finance team, identifying development needs of team members and agreeing on action plans for improvement with line manager and Human Resources.
- Support the Asia Pacific team to prepare the annual budget and forecasts as per agreed timeline and targets (Including, but not limited to furnishing actual spend by departments and tactics, identifying areas for cost containment, challenging past norms and inefficiencies, etc.)
- Exercise budgetary controls for the Asia Pacific to effectively utilize budgets and minimize adverse variances.
Treasury and working capital management
- Effective working capital management through extended credit period and reduced debtors.
- Weekly, monthly and quarterly cash flow forecasting for optimal use of cash resources.
- Generate optimal interest income through End-to-End processing of fund transfers, investments, and re-investments.
- Assess and obtain a quarterly grant from the Head office for all Asia Pacific markets
Risk and compliance
- Primary review of Asia Pacific balance sheet reconciliations on a monthly basis to ascertain the robustness of the balance sheet and ensure timely corrective action are taken.
- Support the Senior Manager Finance APAC to implement The Association financial policies across the Asia Pacific and support monitor adherence to the same
- Initiate fixed asset verification in all markets once in two years and ensure proper maintenance of fixed asset register, capitalization and depreciation.
- Ensure compliance to corporate tax, other tax requirements, and statutory and regulatory compliance and reporting in all Asia Pacific countries.
- Ensure all statutory payments settled on time to avoid penalties and resolving related issues
- Liaise with tax consultants to identify new tax legislations, amendments to existing legislation and their impact on Asia Pacific countries.
- Support The Association on tax review.
- Drive finance process improvements to enhance effectiveness and efficiency across the Asia Pacific region in collaborating with other finance team members, KL hub and team. business
Year-End and Audit
- Manage the year-end audit for the Asia Pacific as per the agreed timelines and ensure management letter points are addressed in a timely manner as per the agreed action plan with Senior Manager Finance, APAC.
Knowledge, Skills & Abilities Required
- Knowledge of financial and management accounting
- Technical skills in financial and management accounting, analytical skills, influencing skills, interpersonal skills (internal and external)
- Excellent interpersonal and communication skills and ability to manage a team in different locations and work as part of one Association Finance Team
Required Experience, Qualifications & Education
- 5-7 years of post-qualified work experience in handling End to End operational finance work
- Relationship management with banks, auditors and other consultants
- Tax compliance and regulatory compliance
- Exposure in an ERP environment
- Degree or professional qualification in finance
At the Association, you are part of a global, diverse and talented group of colleagues. You have opportunities to innovate and collaborate in a leading organization that impacts individuals and businesses.
You'll have opportunities to progress while enjoying an exciting work environment that supports that celebrates individual achievement, development and professional satisfaction.
Together, we will lead the most influential body of professional accountants and create the future of the global accounting profession.