Position Title: Assistant Manager – Financial Modelling and Budget Control
Job Purpose:
To ensure all financial reporting of MIR, budget performance etc. are up to date. To develop, update and monitor the budget and financial modelling. To ensure the consolidated cash flow forecast model is up to date and ready for review and sharing for decision making. Also, to ensure the investment calculation are presented in a professional manner and as per company requirement and shipping practices.
Key Accountabilities:
Reporting Duties:
§ Preparation and Review of Monthly MIR (Actual vs. Budget and Latest Estimates)
§ Responsible of all reports or explanation about the financial figures requested by the departments or management.
§ Prepare Shareholders, Government reporting, and any other ad-hoc report.`
Management Accounting (Budgeting & Control) Duties
§ Annual Budget: preparation of OSC consolidated annual Budget (incl. Balance Sheet, Income Statement and Cashflow Statement).
§ Annual Budget: preparation, changes and review of SPCs standalone annual budget.
§ Monthly Budget & Control reporting and review.
§ Benchmarking with other shipping companies in terms of revenue and costing.
Strategic Planning, Investments and Financial Modelling
§ Monitor and report quarterly the financial performance of a given area of activity and OSC business segments versus budgets/project economics so that areas of unsatisfactory performance are identified and rectified promptly, and potential performance improvement opportunities are capitalised upon.
§ Preparation of financial Models/calculations, quarterly updating of cash flow forecast to be used for investment decisions.
§ Development of different investment calculation to be presented in a professional manner as per company requirement and shipping practices for review.
§ Development of templates and reports for the review and assessment of the departmental KPIs.
§ Assist Manager in preparing OSC’s Consolidated 5 years business plan.
ERP and system supervision
§ Maintain chart of accounts of OSC group and make any adjustments (add, edit, delete) as per instruction.
§ Create and update when required the layout of financial statements in the system and other reporting templates.
§ Help Finance staff work with the system and report system errors to IT Administrator & system provider.
§ Actively co-operate with other Departments in order to ensure the implementation and the linkage between Finance modules and other departments’ modules and to help other departments to understand how the information flow in the system.
§ Attend all staff questions on time and report any errors related to the ERP system.
§ Works as a system analyst with key personnel to help define user needs and develop data processing solutions.
§ Initiate procedures to ensure integrity of ERP system and databases.
Policies, Systems, Processes & Procedures
§ Follow all relevant departmental policies, processes, standard operating procedures and instructions so that work is carried out in a controlled and consistent manner.
Any other task assigned By Manager e.g.
§ Reconciliation of major accounts (payables or receivables).
§ Short-term projects.
§ Covering for in the areas of Financial Reporting and Accounts Payables when required.
Minimum Qualification:
§ Bachelor’s Degree (preferably with ACCA, CFA, CMA or CPA accreditation, or a Master’s degree holder)
Minimum Experience:
§ Minimum 6-8 years’ experience in a similar role in an accounting functions out of which at least 2 years in reporting/Budget function and investment related.
Job Specific Skills:
§ Leadership
§ Computer
§ Presentation
§ Organisational
§ Planning
§ Financial modelling – Advanced excel skills
Frameworks & Authority:
§ The Assistant Manager reports to the Manager – Budget and Investment and confers with the latter on critical and strategic issues.
§ The jobholder is expected to draw up plans and strategies for the accounts section and ensure their implementation.
§ The Assistant Manager function is responsible for the planning and implementation of the departmental strategies and keeping all OSC’s systems abreast with the latest technologies.
§ Key decisions having significant impact on the Assistant Manager function are referred to the his line manager or Finance Director for approval before implementation.
§ The jobholder exercises financial authority as per the level established by the OSC management.
Competencies:
§ Achievement Orientation
§ Analytical Thinking
§ Impact and Influence
§ Information Seeking
§ Teamwork
Job Requirements