Group CFO - Chief Financial Officer

JOB PROFILE DESCRIPTION: Finance Director provides direction and guidance in all areas of accounting and finance which includes the preparation of financial reports, credit control, purchasing, data management, food & beverage cost control, relevant external professionals, and the coordination of accounting activities. Relationship with relevant government agencies, banks, lawyers, insurers, and brokers, concessionaires, external & internal auditors, tax advisers, contractors and relevant professionals.

DUTIES AND RESPONSIBILITIES

Key Areas:

Financial and Management Reports

• Ensures timely and accurate preparation of financial and management reports, in compliance with quality, standards, specified objectives, company requirements and of Managing Partners.
• Verifies and signs company documents to ensure proper processing, controls and authorizations.
• Ensures that all legal, contractual and licensing documents comply with the legal requirements of the country.
• Reviews potential risk exposures of company for insurance coverage and legal requirements of the country. Consults with insurance brokers on risk evaluation, adequacy and premium competitiveness of insurance policies. Files and follows-up insurance claims. Ensures validity of policy periods and renewals. Settles claims with loss adjusters. Consults legal advisers if necessary. Manages risk exposures of company due to negligence and unforeseeable accidents. Reviews and incorporates disclaimer clauses in contracts, documents and accounting vouchers to limit Company liabilities. Ensures back-up of financial, MIS data and records. Implementation of emergency procedures to minimize risks in losses and damages of data, accounts receivables and accounting records due to power failure, computer breakdown and other accidents. Reviews, documents and implements related policies and procedures.

Internal Control System

• Ensures compliance of internal control standards specified as per standards and recommends improvements. Documents and implements policies and procedures to ensure proper internal control in all operational and financial aspects of the company. Verifies all payments to ensure proper justification, documentations, authorizations and account allocations. Reviews accounts receivable, payable, payroll, store, cashiering, F&B cost control, purchasing, credit control and MIS procedures to ensure internal controls are adequate and effective.

Payroll

• Supervises the timely preparation of payroll and reports to ensure payments to employees. Approves monthly payroll summary. Approves service charge and tips on bills computation. Approves and authorizes payments relating to legal deductions.

Productivity

• Manages the Finance personnel so as to maintain optimum productivity from them. Assesses manpower requirements and introduces cross training. Performs and assists in annual evaluation of Finance staff.

Budget

• Organizes, coordinates and plans the company’s annual budgets on time, for review by Managing Directors and Partners. Prepares and coordinates with all units to complete annual Operating Budget, Capital Expenditure Budget and Special Repairs and Maintenance Budget, Cash Flow Budget and Marketing Plan. Maintains work papers in support of budgets. Reviews output for accuracy and reasonableness. Controls and reviews actual performance and expenditures against budgets. Analyzes variances, recommends remedial actions to correct negative variances. Analyses and reports variances in Monthly Financial Report. Participates in P&L monthly review meeting. Monitors, reports and analyses variances from budgets.

Internal and External Audits

• Assists internal and external auditors in the completion of their assignments. Prepares financial statements and supporting schedules for audit. Verifies assets and liabilities. Follows up on recommendations to improve internal controls.

Applies financial evaluation techniques to evaluate capital expenditures, investments, pricing strategies, operating projections.

SKILLS AND SPECIFICATIONS

Key Areas:

• Financial and Management Reports
• Internal Control System
• Payroll
• Productivity
• Budget
• Meetings
• Tax Reporting and Planning (multi country TAX management)
• Internal and External Audits
• Loan Administration and Treasury Management
• Executive Duties

EDUCATION AND QUALIFICATIONS

• MBA, University Degree or other relevant accounting professional qualifications.
• Ability to co-ordinate with key management team and motivate staff.
• Minimum 10 years of experience in hospitality industry, multi account management and multi country finance activities background.