RESPONSABILITATI / BENEFICII:
The Finance & Administrative Team is a group of hard-working, professional staff who share responsibility for meeting the objectives of the team – including On-time, Accurate, Fully Analyzed Monthly Financial Statements and Weekly Management Reports (i.e., finance); Efficiently Operating Office Facilities (i.e., office and IT management); Motivated, Highly Skilled Workforce (i.e., HR).
This team covers locations around Eastern Europe Middle East Asia but most reporting (and many accounting) functions are centralized in Romania.
The Group Controller manages all activities; certain members of the team have a “dotted line” to the Country General Managers.
OBJECTIVES OF POSITION
• Support the Finance Team with regard to financial and managerial accounting procedures. The Sr. Accountant processes all incoming payable invoices, expense reports, fixed assets acquisitions, and payroll entries. “Processing” means receiving, logging, coding, and otherwise preparing for data entry. This position also includes data entry (in WizCount, BOB, or Visual), to the extent that a Jr. Accountant is not available for the task. The Sr. Accountant also performs reconciliations, analysis, and other control procedures required for the preparation of our Management Financial Report.
• Support the Junior Accountant (or other staff), who is responsible for preparing some weekly and monthly journal entries, for cost allocations, and other management accounting issues, for most data entry, and for booking the bank statements. The Sr. Accountant quality reviews the work done by others (and fills in when the Jr. is not available).
• Support the Finance Manager (or Group Controller) by preparing closing entries and the first draft of all monthly RAS and IAS reports, and the Variance Analysis Report. By doing this, the Senior Accountant develops a strong understanding of the final product of the accountants’ work, and therefore will make more educated decisions when booking data. The Sr. Accountant must involve the Junior Accountant (and Sr. and Jr. staff in other departments) in this work as much as possible.
• Manage the Chart of Accounts and other coding lists (cost centers, site codes, personnel codes, vehicle codes, etc.), to facilitate quick, efficient reporting.
• Manage the monthly fiscal and VAT reporting processes.
• Support the rest of the Finance & Admin Team so that the team meets its objectives – see below. The Finance Team is also supported by 2-4 administrative assistants in the operational teams, with responsibility for gathering, organizing, and reporting on important cost data. Therefore, the Senior Accountant must work in close coordination with all these people, and must understand the role of Accounting as a support function for the rest of the business. Over time, certain functions (like data entry in the Accounting System) may be devolved to these other staff; the Sr. Accountant must facilitate this process, and help ensure that all staff can contribute to their maximum qualification.
• Key Finance Objectives of the team include strong financial controls, and on-time, accurate, fully-analyzed monthly reporting. Also, effective capture, storage, and flow of Management Information in support of the Operations, and cost reporting to the company’s stakeholders.
• Key Administration Objectives of the team include ensuring that all “government reports” (including VAT, fiscal reports, employment tax and related filings) are properly prepared and filed, whether in-house or outsourced, and that monthly payroll is properly processed and analyzed, and paid.
• Key Office Management Objectives include an efficient computer network with a standardized configuration, and maximum up-time and optimum internet connectivity.
• Key HR Objectives of the team include a highly motivated staff of operational personnel, as measured by each person’s knowledge of his role within the company, his most important objectives (daily, weekly, quarterly), his most important contributions, and what he/she needs to do in order to improve performance.
KEY RESPONSIBILITIES
• Budgeting and Cash Forecasting – help the Finance Manager manage the flow of information from operational managers, and project overheads.
• Operate financial controls – including weekly & monthly reconciliations, document controls, and cash controls.
• Preparation, control, and analyze the monthly financial (IAS) and operational reporting – including analyzing all Budget Variances; answer all questions from management regarding operational reasons behind all important variances. The finance team should distribute the final monthly report – including reconciliation of RAS to IAS accounts – by the fifth working day of the following month.
• Continuously improve the most important, time-sensitive processes – such as transaction processing, controls, and periodic reporting.
PERFORMANCE EXPECTATIONS
• Reporting
o Prepare and distribute the Monthly Mgmt Report – by the end of the fifth working day
o Draft a VA (Variance Analysis) Report to summarize financial analysis; submit with the Monthly Management Report
o Ensure that statutory reports, and other government filings, are submitted on time and accurately.
• Cash Management
o Ensure that the 26-week Weekly Cash Flow Projection is continuously updated with current activity (including payable invoices, receivable invoices, and bank movements)
o Ensure that the 12-month Cash Flow Projection (corporate standard format) is updated monthly within 10 working days.
• Transaction Processing
o Ensure that all Primary Documents (including WizCount and/or Visual input) are processed by the end of the day they arrive in Finance
o Ensure that all Registers (Purchase Invoice Register, Crew Expense Report Register, Petty Cash, Sales Invoice Register, Goods Receipt Note Register, Closed BOM Register) are updated daily
o Ensure that all operational accounts (WizInventory, Advance Accounts) are updated daily for all activity
• People Development
o Take responsibility for own professional development, keeping open communication with the Finance Manager regarding job satisfaction, training needs, and other issues.
o Take an active role in the development of the Junior Account’s skills – accounting, control, IAS reporting, time management, etc.
• Control
o Monitor the document and data flow supporting the Project Cost Management System (which supports the weekly SMR).
o Ensure that all bank accounts are reconciled weekly (as part of the 8-Week Daily Cash Forecast process).
o Ensure that all Advances, Accruals, A/P, A/R, Inventory are reconciled monthly.
o Establish all I/S and B/S “pass-through” or “clearing” accounts as “zero-balance” accounts; reconcile all such accounts monthly.
o Ensure that all other B/S accounts are reconciled quarterly (on a rotating basis).
o Ensure that all A/R and A/P balances are confirmed (in writing) with each client / supplier at least twice per year.
o Spot-check data entry work done by subordinates .
o Review all Registers & Logs monthly for unprocessed items, timeliness, etc.
• System
o Support all financial reporting needs with the accounting system – including supplier and client inquiry re: paid/unpaid invoices. (In other words, maintain the system as the primary support system of Finance, without relying on separate lists in Excel to control activity.)
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