Financial Accounting & Reporting
1. Ensure timely and accurate closure of monthly, quarterly, and annual financial statements in line with statutory and internal deadlines.
2. Lead the month-end and year-end closing processes, including review and posting of journal entries, accruals, provisions, and reconciliations.
3. Review and validate the General Ledger (GL) and financial data regularly to ensure completeness and accuracy of financial records.
4. Prepare and present ERP-based MIS reports to management with comparative analysis on product profitability, cost trends, and pricing fluctuations.
5. Coordinate with external auditors and prepare audit schedules to ensure timely and clean audit closures.
6. Ensure compliance with International Financial Reporting Standards (IFRS) and assess the financial impact of any new accounting standards.
7. Prepare and file VAT returns on a monthly or quarterly basis and liaise with tax auditors for VAT refund claims and assessments.
Costing & Inventory Management
8. Maintain and update standard costing models in ERP (SAP), including periodic variance analysis between actual and standard costs.
9. Analyze manufacturing costs and operational expenses, including changes in raw material usage, processes, or labor, and provide detailed cost reports.
10. Perform monthly reconciliation of raw materials, work-in-progress (WIP), finished goods, and packaging material inventories.
11. Attend physical inventory counts and oversee cycle counting processes to ensure accuracy and minimize inventory discrepancies.
12. Coordinate with operations and production teams to review product cost structures and advise on cost control opportunities.
Accounts Payable, Receivable & Working Capital
13. Monitor and analyze ageing reports for accounts receivables and payables, ensuring timely follow-up and resolution of overdue items.
14. Oversee advances to vendors, ensuring appropriate accounting treatment and timely settlements against goods/services received.
15. Supervise reconciliations of supplier statements and customer accounts to maintain clean ledgers.
16. Support credit control functions and evaluate customer creditworthiness and payment patterns.
Capital Projects & Fixed Assets
17. Maintain and track Construction Work in Progress (CWIP), ensuring timely capitalization and classification of assets.
18. Perform Return on Investment (ROI) analysis for CAPEX proposals in coordination with project team and monitor actual returns post-implementation.
Budgeting, Forecasting & Variance Analysis
19. Assist in preparation of annual budgets, forecasts, and long-term financial plans in coordination with department heads.
20. Analyze variances between actual and budgeted costs, investigate root causes, and propose corrective actions.
Accounting & Risk Management
21. Review and post hedge accounting entries monthly in compliance with IFRS 9.
22. Prepare hedge effectiveness reports and ensure alignment of accounting records with trading department data.
23. Support the risk management process by analyzing commodity price movements and their financial impact.
Team Support & Ad-hoc Responsibilities
24. Provide backup support to Assistant Finance Manager, Accounts Receivable, Payables, and Credit Control functions as needed.
25. Perform any additional duties assigned by the Finance Manager or senior management, contributing to departmental and business success.
Treasury:
26. Prepare and manage accurate short-term and long-term cash flow forecasts to ensure sufficient liquidity for operational and strategic requirements.
27. Oversee trade finance instruments such as Letters of Credit (LCs), Trust Receipts (TRs), and bill discounting to support the refinery's import and export transactions.
28. Manage all aspects of the company's debt portfolio, including monitoring loan schedules, interest payments, and compliance with financial covenants. Coordinate with financial institutions to ensure timely renewals and adherence to facility terms.
The above description is intended to describe the general nature and level of work performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all job duties performed by the personnel so classified. Management reserves the right to revise or amend duties at any time.