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Vice President for Finance

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Vice President for Finance

  • Location:

    Philippines

  • Sector:

    Monroe Hospitality

  • Job type:

    Permanent

  • Salary:

    Negotiable

  • Contact:

    Jeleica Uy

  • Contact email:

    Jeleica@monroeconsulting.com.ph

  • Job ref:

    BBBH437083_1705995947

  • Published:

    about 1 month ago

  • Expiry date:

    2024-02-22

Executive Search Firm Monroe Consulting Group Philippines is recruiting on behalf of a joint venture company which has been operating for 25 years in the Philippines for the role of Vice President for Finance. The role will drive strategy and support the business growth while ensuring processes are in place. S/he will handle a team of 17 and will directly report to the President dotted line to the CFO for Asia, with heavy collaboration with the Finance Controller based in Australia. Work setup is onsite, Mondays to Fridays in Pasig City.

Key job responsibilities include:
* Communicates in a timely manner important and accurate financial information to the joint venture partners, the President, and other senior level executives (if applicable) within the organization.
* Ensures regular and timely report filing of accurate and relevant information to various third parties such as SEC, BIR, and other government agencies.
* Works effectively through a dotted-line relationships with CFOs from both JV partners to ensure agreement and compliance with accounting policies of each organisation.
* Maintains an adequate financial accounting system through i) preparation of financial statements in accordance with generally accepted accounting principles; ii) appropriate disclosures and implementation of changes in accounting principles, accounting estimates, and accounting entity; iii) knowledge of accounting requirements for major financial areas including consolidation, leases, pensions, tax translation and transactions, where applicable; iv) initiate and lead digital transformation of the financial accounting system to align with the expansion of the company; v) ensure the financial accounting processes of the company are highly efficient; vi) ensure the financial accounting system is capable to provide prompt and accurate information for pro-active and strategic decision-making.
* Analyzes and helps improve corporate profitability and shareholder value through proper cost management and analysis, and break-even analysis and financial leverage, forecasting, planning, budgeting, variance analysis, just in time costs, capital budgeting, profit and cost analysis and transfer pricing.
* Must be adept in financial analysis, which involves the examination of the company's historical financial performance and its prospects as well as the health and operating performance of the business using analytical techniques. Must be able to identify areas of risks and the means to efficiently utilize assets and earn greater returns.
* Prepares comprehensive budgets/forecasts which include an income statement, balance sheet and cash flow, over a rolling 24 months or as otherwise required. He/she is also responsible for capital budgeting and the preparation of financial models.
* Responsible for working capital management which includes cash management, accounts receivable, management of payables.
* Implements and monitors controls over capital expenditure, ensuring such expenditure is appropriately approved with variances escalated in accordance with company policies.
* Ensures that company's resources are adequately insured against all potential risks.
* Maintains an adequate internal control system to ensure the reliability of financial information, as well as minimize the occurrence of fraud or errors.
* Monitor the business for any developing signs of financial distress or fraudulent activity. Those red flags should be promptly directed to the attention of both JV partners and relevant senior level Executives.
* Must understand basic concepts of underlying tax structure such as corporate taxable income, capital gains and losses, deductible expenses, available tax incentives, tax rates, tax prepayments, and credits, and various tax planning strategies to optimize the company's income tax position.
* Must be able to deal with tax and other government regulatory agency representatives.
* Working with the JV Partners and President will undertake discussions to obtain adequate financing from the appropriate financial institutions for short term, medium term, and long-term needs.
* Must be able to effectively recommend options to manage the cashflow needs of the business, including optimizing the use of any excess liquidity/surplus funds.
* Hire, train and develop an effective finance/accounting team that is able to fulfill the current business needs and support future growth.

Key job qualifications include:
* Bachelor's degree in Accountancy or Finance
* CPA board passer, MBA is an advantage
* At least 15 years of experience in senior finance roles
* Experience in overseeing company's financial activities including financial planning, taxation, cash flow, budgeting, reporting, internal control environment, auditing and continuous improvement of financial processes and procedures.
* Experience in leading digital transformation of finance and accounting functions to cope with business growth.
* Ability to make use of data-driven insights to provide pro-active and strategic decision-making.
* In dept knowledge of corporate financial law and risk management practices.
* Excellent knowledge of data analysis and forecasting methods. Ability to strategize and solve problems.
* Strong leadership and organizational skills.
* Excellent communication and people skills.
* Proficient in the use of MS Office and experience using complex financial management software such as SAP.
* Experience in a multi-site retail or hospitality business is a plus.
* Amenable to work onsite in Pasig City, Mondays to Fridays