Manager (Governance, Assurance & Financial Solutions)

Job Descriptions:

1. Taxation

Monitor and review the tax return requirements on PLMMSB (for both direct & indirect taxation) and provide support for tax advisory or tax planning matters through in-depth knowledge and correct application of taxation rules, keeping up-to-date with changes and new tax rulings and maintain good relationship with PETRONAS Group Tax to ensure compliance to tax legislations and rulings.

2. Credit Management, Debt Monitoring and Recovery

Drive, plan, implement and monitor the management of Billing, Statement of Accounts (SOA) issuance, monitoring of TAR status and implementation of corrective / intervention actions in order to minimize credit risk exposure and to be in line with the company’s credit risk appetite.

Advise & monitor the debt recovery action (e.g. issuance of dunning letter, deferred payment arrangement, 3rd party debt recovery agencies, legal action, interest charges) for delinquent accounts by ensuring that the appropriate approval is obtained for the debt recovery action and in the course of performing the task, to validate the justification and rationale for proposed recovery action, adequacy & completeness of documentations to support the proposal and act as focal person between Business and Legal / 3rd party Debt Recovery Agencies for the successful implementation of the recovery strategies and minimise the impact of losses from bad debts.

As part of the debt monitoring process, to ensure the following is being performed and executed on timely manner:

• Identify and monitor the performance of customer with overdues
• Monitor the issuance of reminder and demand letters to customer
• To propose to Sales on the default customer to be listed as defaulter on Credit Rating Agency i.e. CTOS & Experian
• Monitor customer with Deferred Payment Agreement (DPA)
• To notify and blacklist customer with default payment to Group Procurement
• To propose the utilisation of security to Sales i.e. liquidation of bank guarantee and to liaise with financial institution on the process
• To liaise with Group Legal for customer which has been approved to proceed with legal action

3. Fixed Asset Management

Coordinate fixed assets disposal committee meetings and liaison between business and GFC on fixed assets record of the company and close monitoring of fixed assets movement as well as impairment to ensure the integrity of fixed assets record of the company.

4. Account Payables Operations

Direct and control the accounts payables operations for payments to 3rd party vendors & staff through understanding of the procurement process (i.e. familiarity with the 3-way matching requirements), staff terms / benefits / entitlement and SAP ECC 6 system processes to ensure integrity of the outflow in payments and preserving the company’s reputation as good paymaster.

5. Banking and Treasury Related

Review daily trade finance & banking activities by supervising and monitoring the utilisation and sufficiency of financing and banking facilities/operations (including revolving credits, letter of credit and bank guarantees), execution of financing requirements, accuracy of payment instructions and securing lowest possible costs to contribute to the efficient finance operations to ensure all business obligations are met.

6. Governance and Compliance

Lead the implementation of governance activities within the department to ensure compliance to Groupwide best practices (e.g. development of Limits of Authority (LOA), development and testing of Financial Control Framework (FCF) and Standard Operating Procedures (SOP) in order to safeguard the accuracy of numbers and efficiency of processes adopted by the Company.

Lead the overall advisory role for PLMM LOA matters including the coordination and overall assessment on LOA with the respective division to ensure the LOA is updated and aligned with PDB and PETRONAS.

7. Assurance

Advise on the adoption, changes of Financial Reporting Checklist and other First Line Assurances via MyAssurance for the whole Company and will be responsible to assess on the effectiveness of design and implementation of controls in the Company.

Lead Coordinator and Lead Assessor for cross department audit to ensure the effectiveness of design and implementation of controls throughout the Company. To evaluate supporting documents for accuracy and completeness to ensure compliance with all applicable directive and regulations.

To ensure the compliance of MyAssurance as it will directly impact the overall performance scorecard of the Company for the following area:

• > 80% compliance achieved for schedule compliance
• > 98% compliance achieved on overall compliance checklist
• 100% closure of audit issues as per timeline

8. Contingent Assessment and Onerous Contract Review

Lead the assessment with support from Group Legal to determine whether any indicators of contingent to be recognised as part of the management account / audited accounts.

Review all contracts / agreements to ensure any risk from tax, legal and finance is being addressed and incorporated in the agreement.

Assess the contracts if there is any element of onerous contract in order to determine the appropriate accounting treatment and disclosure to be recognised in PLMM’s account.

9. Financial Operations

Manage and monitor other financial operation areas such as inventory, insurance & SAP enhancements in order to ensure accuracy of financial numbers, PLMM’s exposure is reasonably mitigated and that the SAP system is reliable and efficient to support business operations.

10. Cashflow Forecast and Dividend Repatriation

Lead the monitoring and review of the monthly cashflow forecast for the inflow and outflow of cash and to ensure the cash balance for PLMM is sufficient to support the minimal working capital for PLMM’s operation and any excess to be repatriated to PDB (in compliance with the relevant Act and guidelines, not limited to Company Act 2016). Ensure the sustainability of PLMM to operate with sufficient cashflow within 12 months subsequent to the dividend repatriation in compliance with Company Act 2016.

Advise and update the right working capital requirement in PLMM Risk Appetite approved by Board of Directors.

11. Internal and External Audit

Responsible as the main focal person to coordinate internal/external audit activities conducted by various parties and ensuring the overall compliance of the Company in accordance with the relevant guidelines.

Lead the assessment of any mitigation or corrective action plan which will be conducted by business units and ensure the closure of any audit issues is within the stipulated timeline.

12. Initiative/Add-hoc Task

Plan, coordinate & manage any additional tasks relating to Governance, Assurance and Financial Solutions areas. This may include among others but not limited to system and process improvements and company initiatives, adoption of internal and external policies as instructed by the Management etc.

Qualifications & Job Requirements:

• Member of recognized professional accounting body (ICAA, ICAEW, ACCA, CIMA, MICPA etc.) or degree from a recognized University with major studies in Finance and Accounting.
• 10 to 12 years of experience in Finance, Accounting or Governance related areas in commercial environment.
• Well versed in financial accounting, management accounting and budgeting and good appreciation on information technology, economics and marketing.
• Independent, resourceful, result-oriented, self-motivated and possess good attitude/drive.
• Strong interpersonal and communication skills.
• Up to date knowledge on applicable reporting standards, statutory accounting, Company’s Act and Income Tax Acts.
• Highly conversant with Microsoft PowerPoint, Microsoft Excel, Microsoft Word and have exposure with PowerBI.