Assistant Finance Manager

Job Summary:

The Assistant Finance Manager will support the Finance Manager in overseeing the company’s financial activities, ensuring accurate financial reporting, and maintaining strong internal controls. This role involves managing day-to-day financial operations, preparing financial statements, budgeting, forecasting, and assisting with audits. The ideal candidate will have a solid understanding of financial principles, exceptional attention to detail, and a proactive approach to problem-solving.

Key Responsibilities:

Financial Reporting:

• Assist in the preparation and review of monthly, quarterly, and annual financial statements in accordance with company policies and accounting standards.
• Ensure the accuracy and timeliness of financial reporting, including profit and loss, balance sheets, and cash flow statements.
• Support the Finance Manager in analyzing financial performance and identifying trends or discrepancies.

Budgeting and Forecasting:

• Assist in the preparation of annual budgets and financial forecasts for both retail and wholesale activities.
• Monitor and report on budget variances, providing explanations for significant deviations.
• Prepare forecasts to support decision-making, focusing on revenue, expenses, and cash flow.

Cash Flow and Liquidity Management:

• Assist in managing cash flow to ensure that the company has adequate liquidity for its operations.
• Prepare cash flow projections and monitor daily cash balances to ensure effective working capital management.

Accounting and Bookkeeping:

• Oversee day-to-day accounting functions, including accounts payable, accounts receivable, and payroll.
• Ensure proper accounting for retail and wholesale sales, including revenue recognition and cost of goods sold.
• Reconcile bank statements and general ledger accounts on a monthly basis.

Internal Controls and Compliance:

• Assist in the development and implementation of financial controls and procedures to safeguard company assets and ensure compliance with local financial regulations and tax laws.
• Support internal audits and external audits by providing necessary documentation and clarifications.

Taxation and Regulatory Compliance:

• Assist in the preparation of tax returns, ensuring compliance with all applicable local tax regulations for both retail and wholesale operations.
• Keep up to date with changes in tax laws, and assist in tax planning and strategy.

Cost Analysis and Profitability Monitoring:

• Analyze cost structures for both retail and wholesale activities, identifying opportunities for cost-saving measures.
• Monitor margins, pricing strategies, and product profitability, particularly in the furniture and home goods segments.

Management of Financial Systems and Software:

• Ensure the accuracy and proper usage of financial systems and software.
• Support in the implementation of any updates or improvements to the financial systems.
• Train and guide junior finance staff in system usage and financial reporting.

Financial Planning and Strategy:

• Assist in long-term financial planning, analyzing trends in the retail and wholesale markets to inform business strategy.
• Work closely with senior management to evaluate investment opportunities and make recommendations based on financial analysis.