Manager, Group Accounting

ABOUT THE POSITION

The Manager, Group Accounting, plays a pivotal role in establishing and reviewing the Group's accounting policies in accordance with International Financial Reporting Standards (IFRS). This position ensures strict adherence to IFRS, consolidates the Combined Group Financial Statements, collaborates with external auditors, and strengthens internal controls across the Vena Energy Group.

KEY RESPONSIBILITIES

Group Accounting Policy

• Establish and review the Group's accounting policies in accordance with IFRS, including contractual arrangements, hedge accounting, revenue recognition, sale and leaseback, liquidated damages / claims, development project costs, and impairment assessments on financial assets.

Group Financial Statements

• Consolidate Combined Group Financial Statements in accordance with IFRS and Group Accounting Policies, recommending and assisting in implementing best-in-class accounting practices and disclosure notes.
• Oversee the completion of the Group audit, acting as the direct liaison between the organization and external auditors at both Group and country levels, facilitating effective communication and collaboration to ensure a smooth and efficient audit process.
• Review country reporting to ensure full compliance with Group Accounting Policies and IFRS, conducting detailed assessments of country-specific financial statements.

Monthly Closing and Group Consolidation

• Support country teams and functional departments with accounting inquiries, determining appropriate accounting treatments based on IFRS and local requirements.
• Produce comprehensive accounting papers addressing Group accounting issues and restructuring exercises, including control assessments, hedge accounting, sale and leaseback transactions, and intercompany loan re-denomination.
• Provide guidance and support on accounting and consolidation-related issues to local components and team members across the organization, offering expert advice on accounting policies, financial reporting, consolidation procedures, and interpretation of accounting standards.
• Evaluate proposed new accounting standards, assessing their impact on the Group and recommending appropriate responses, drafting comment letters to standard-setting bodies, and overseeing the adoption of accounting standards to maintain compliance and enhance financial reporting accuracy.
• Drive the implementation of new and revised accounting standards and policies across the organization, ensuring consistent interpretation and application.
• Perform any other duties as assigned, including financial data support requests from functional departments.

Internal Audit

• Develop and implement internal control frameworks, policies, and procedures to ensure compliance with Group policies.
• Collaborate with departmental managers and process owners to address control deficiencies and implement corrective actions.
• Monitor and track remediation efforts and action plans to address audit findings and control weaknesses.
• Train and guide employees on internal control principles, policies, and procedures.
• Liaise with auditors, regulators, and other stakeholders during audits and inspections.

EDUCATION

• Professional qualifications such as ACCA, CA Singapore, or an accounting degree.

Experience

• Minimum 6 years of experience with a reputable audit firm.
• Experience with consolidation, full set of accounts, and drafting financial statements.
• Experience managing overseas finance teams.
• Familiarity with IFRS. Ability to adapt to changing regulatory requirements and accounting standards.
• Strong understanding of accounting principles, practices, and regulations.

SKILLS

• Excellent analytical and problem-solving skills.
• Detail-oriented with strong organizational and time management abilities.
• Ability to manage projects and work in a fast-paced environment.
• Effective communication and interpersonal skills, with the ability to collaborate and build relationships across various teams and stakeholders.