Controller Director

One of our prestigious clients is looking to hire a Controller Director, with 12+ years of experience In the Ship building industry who will be responsible for but not limited to:

Job Overview

This position is responsible for recording, bookkeeping and tracking of fixed assets.
Additionally, it involves conducting impairment reviews and physical asset verifications to ensure completeness, accuracy and updated reporting of fixed assets. This position shall be responsible for tracking and recording of intra group and third party vendor invoices, recording payments and verification of balances with vendors to ensure completeness and accuracy.Also, this position shall cater the period end activities including preparation of management accounts, analysis and financial statement.

Strategic Responsibilites

• Align division goals, processes, and resource allocation with the organizational strategy while maintaining awareness of commercial and business objectives.
• Ensure the accomplishment of organizational unit objectives by managing staff;
  planning and evaluating organizational unit activities.
• Define objectives, identifies, and evaluates trends and options, chooses a course of
  action, and evaluates outcomes.
• Accomplish financial objectives by forecasting requirements, preparing an annual
  budget, scheduling expenditures, analyzing variances, and initiating corrective actions.
• Support with strategic problems resolution and subjective decision making.

Managerial Responsibilites

• Supervise the entire work done by the team members and making sure it is completed on time without any delay.
• Lead the team to complete tasks and meet goals through delegation of responsibilities and supervising business operations.
• Set the vision and motivation of the team in order to achieve the sought objectives efficiently.
• Set appropriate and achievable deadlines.
• Track and report critical organizational unit performance results and escalate and negotiate business related issues to senior management.
• Accomplish staff results by communicating job expectations, planning, monitoring, and appraising job results.

Functional Responsibilites

• Implement and ensure compliance with the corporate Fixed Asset Policy and Processes.
• Update fixed asset register (FAR) with additions by creating a new asset under the
  relevant asset category and location of the asset.
• Update disposals / retirements of fixed assets in fixed asset register.
• Assign a unique fixed asset tag number to each asset in FAR and apply that on physical fixed asset.
• Prepare periodic fixed asset reports for management on movement / changes in the FAR.
• Maintain leased asset portfolio and generate lease amortization schedule, compute the "lease liability" and "right of use of asset" and the resultant "interest expense" and "depreciation expense" for the company.
• Adjust the lease amortization rate due to additions, deletions, revaluations or impairment (as applicable).
• Calculate the depreciation expense on monthly basis or recalculate on sample basis the depreciation computed in the system.
• Record accounting entries for capitalization, disposals and leased assets.
• Identify adjustment entries in the form of revaluation or impairment in the reconciliation.
• Reconcile FAR balances with ledger accounts and the trial balance and investigate the differences.
• Prepare Fixed Asset movement schedule for Shareholders and Statutory reporting.
  Conduct periodic review of fixed asset register to ensure completeness and accuracy of the data in the FAR.
• Conduct fixed assets count by performing floor to tag and tag to floor count.
  Perform asset tag check on agreed periodic basis to ensure completeness of tagging on existing and any new fixed asset bought.
• Responsible for the efficient and effective management of the accounts receivable
  process, ensuring that proper controls are implemented.
• Maintain the company customer data including name of customer, billing address, VAT number, contact number etc.
• Review and update the customer master data periodically to ensure availability of updated customer information.
• Create and issue invoices to customer as per the sales order, contract and delivery documents.
• Verify the details to ensure compliance with VAT regulations using updated customer data from master file.
• Raise the credit notes to reduce receivable balance in line with the organization's policy and review the documentations provided.
• Ensure that the invoice / credit note amounts are accurately represented in the ledger.
• Reconcile AR balances with trial balance to ensure balances are matching.
• Investigate & resolve the differences and record accounting entry to adjust the balances with required approvals as per DOA.
• Prepare and send customer statements on periodic basis (weekly / fortnightly / monthly) to each customer with the complete information to reconcile and facilitate the payment processing of invoices.
• Coordinate and maintain follow-up with the customers to ensure receipts of receivable balances on timely basis. 
• Investigate and correct the difference between the company and customer balances. 
• Prepare invoice wise aging analysis of each customer to identify the long outstanding receivables and present to management to take decision on legal notices of write-offs.
• Support management with AR reporting and financial statement disclosures.
• Actively involve in the dispute resolution process to ensure disputes are managed and resolved effectively.
• Record customer receipts against the outstanding invoices.
• Enquire with customers on the pending amount from the invoice in case of partial payments.
• Review the Expected Credit Losses (ECL) model to check the compliance with IFRS 9.
• Prepare financial data and information to compute forward looking probability of default (PDs) and calculate ECL under IFRS 9 & Record accounting entry for ECL provision.
• Responsible for the efficient and effective management of the accounts payable process, ensuring that proper credit controls are taking place. 
• Maintain the company's vendor master data including name of vendor, address, VAT number and contact number etc.
• Review and update the vendor master periodically to ensure availability of updated vendor information. 
• Verify and record vendor invoices with PO and delivery documents using 3-way matching concept.
• Record credit note received from vendors to reduce the company's liability.
• Verify the vendor invoices and credit notes to ensure compliance with VAT regulations.
• Reconcile AP balances with trial balance to ensure balances are matching.
• Investigate & resolve the differences and record accounting entry to adjust the balances with required approvals as per DOA.

• Create payment batch file for processing the payments to vendors for invoices due for payments.
• Review the payment batch file to ensure invoices on hold are not included in the payment batch files.
• Transfer the payment file to treasury for payment processing.
• Record accounting entry for vendor payments and communicate to vendors by sharing the payment advice.
• Prepare and review payable ageing files to identify the long due payable balances and investigate the reasons for holding the payments.
• Support management with AP reporting and financial statement disclosures.
• Prepare and send vendor statements on periodic basis (weekly / fortnightly / monthly) to each vendor with the complete information to reconcile the balance.
• Review and reconcile vendor account balances with the company's GL.
• Actively involve in the dispute resolution process to ensure disputes are managed and resolved effectively
• Review the payroll sheet shared by HR with previous months to analyze the trend and identify any significant variance.
• Responsible for escalating and communicating material misstatements to the
  management.
• Review the changes in the number of employees and ensure additions and deletions are reflected in the payroll calculation.
• Review the deductions in the payroll sheet to ensure accuracy i.e. employee loan
  repayments, expenses to be recovered from employee etc.
• Review the cash benefit / allowances provided to employees to ensure the compliance with the company's policy.
• Obtain approvals on the payroll sheet as per the delegation of authority.
• Review the end of service calculation sheets provided by HR and verify the end of service benefits as per the company policy.
• Record the accounting entry for payroll expense, provision for employee benefits
  (Bonuses and Annual leaves etc.) and final settlements.
• Transfer the payroll and final settlement sheets to treasury for payment processing.
• Addition / deletions of GLs in the chart of accounts as per the approved policy.
• Review the COA and GL codes on periodic basis to ensure completeness and
  identification of dormant accounts.
• Review the mapping of GL codes in the system to ensure mapping under correct
  category.
• Prepare list of expenses incurred but not recorded to recognize the accrued expenses.
• Identify prepayments made against respective expenses and develop amortization
  schedules for such prepayments.
• Record accounting entries for accrued expenses and amortization of prepaid expenses with approvals required as per DOA
• Analyze entries in the GL accounts using trend analysis to identify any significant variances.
• Investigate the variance and record adjusting (if required).
• Review the journal voucher entries passed by other sub-functions to ensure accuracy (e.g. provision entries by AR, provision entries by payroll, etc.).
• Develop the FSCP checklist by listing all the period end closing activities segregated for each sub-function.
• Checklist shall include the timelines and responsible person for executing the transaction mentioned in the checklist.
• Ensure completion of checklist tasks by each sub-function and obtain sign-offs on the checklists for timely completion of activities.
• Prepare internal management accounts and required analysis to brief management on the financial performance of the company.
• Provide commentary on the analysis to brief management on the results of financial performance.
• Prepare financial statements for internal and external stakeholders (Statement of financial position, Statement of comprehensive income, Statement of cash flows and Statement of changes in equity).
• Communicate with the external auditors for timely completion of external audit.
• Provide the required information and respond to queries of external auditors.
• Record the adjustment accounting entries (if required).
• Perform any other adhoc tasks required by management.

Qualifications

• Bachelor's Degree in Business Administration, Finance, Accounting or any other similar field.
• Above 12 years of experience in related field including 6 years in a leadership role.
• Master's Degree in Business Administration, Finance, Accounting or any other similar field.
• CPA or other relevant certifications