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Group Finance Director

Job Title: Group Finance Director
Contract Type: Permanent
Location: Singapore
Industry:
Reference: JOB_000762[18]
Contact Name: General User
Contact Email: acihrsolutions@gmail.com
Job Published: December 17, 2020 13:32

Job Description

About the company

Our client is an Asian watch and jewellery brand and retail specialist. The Group is family business founded. The owner established the company to brand, distribute, market and build international accessible luxury brands that share a similar design philosophy of timeless allure and consistent pursuit of functionalism and quality. 

Backed by a dedicated team of more than 150 employees, the Group excels in brand development as well as in Omnichannel retailing, distribution and wholesale network. 

​The group has consistently delivered sustainable growth returns for its exclusive range of brands, by repeating and constantly evolving its success formulas.

​In addition, it has more than 40 direct operated stores and distributes to more than 200 stores throughout South East Asia. The group also distributes its range of brands to several airports and airlines within the region.


Position summary

The GFD oversees the following main functions:

a) Finance & Controlling (Financing, Treasury, FP&A, Accounting)

b) IT Infrastructure, Group systems

c) Legal, Tax, Corporate structure

d) Investor and Stakeholder relations

e) Internal Control System, Corporate Governance

f) Business support functions, Shared Service Centre

g) Project management (New Business, Business process management)

h) Team Lead: guide and develop the team of direct reports

 

Objective of role:

  • Active part of the Group management. Participate and present in all Group Executive meetings and board meetings.
  • Responsible for all Finance, IT, Legal, Procurement matters relating to all companies under or associated to the organisation (“The Group”)
  • Ensuring that the business is at all times ready to take advantage of business growth and future opportunities that would be in the business’s best interest. 
  • Understand and have a strong commercial and business oriented approach to matters, although responsible to play the role of “check and balance” in the Executive Management team in order to ensure that financial and operational feasibility and risks are always properly considered in any material decision making.
  • Ensuring adequate Internal Control System, SOP, Corporate Governance and Compliance systems
  • Continuously implement and improve measures in line with the group strategy: Develop and maintain the 3S (strong people, strong operations, processes and systems and strong corporate centre) in order to enable the 3M (more brands, markets and channels).
  • Responsible for the development and growth of all staff members within the responsible team.

 

Detailed responsibilities/accountabilities:

a)   Finance & Controlling (Financing, Treasury, FP&A, Accounting)

  • Ensure timely accurate and adequate recording of financial information.
  • Responsible for Financial reporting, budgeting and forecasting process
  • Ensure financing for planned business growth, oversee group cash management/treasury and cash planning.
  • Investment validation and assessment through return on investment projection
  • Process design, automation, improvement and implementation
  • Business Intelligence development – customise financial dashboards
  • Internal control improvement and implementation
  • Sourcing of available grants to get funding for the business
  • Present timely management reports and annual reports to the management, shareholders, potential investors, banks and authorities in suitable manner and respond to queries as appropriate.
  • Maintain cost control and regular communication towards operations. Issue warning and propose corrective actions in case of deviation towards the budget.
  • Ensure enhanced monthly management accounts/Business intelligence modules providing value-added analysis of trading and operational performance, conducting variance analysis from budgets, monitoring stock turn, cash flow and inventory positions,
  • Ensure transparency on group key cost-lines, and seeking cost/expense reduction opportunities
  • Prepare the annual statutory and consolidated accounts and relevant supporting schedules within agreed timeframes
  • Liaise with all the group finance partners: Auditors, Principals, Tax agent, Lawyer

 

b)  IT Infrastructure, Group systems

  • Develop IT strategy in support of digitalization and automation process for the Group
  • Responsible for all IT matters, including data security, efficient and adequate use of The Group’s ERP, and other systems.
  • To ensure smooth support for the Group IT infrastructure and IT platform in general according to best industry practices and business needs.
  • Oversee the development and implementation of IT policies, procedures and standards
  • Ensure execution of IT governances and practises in Group and streamline where necessary to meet industry recommendations.
  • System improvement proposal to IT team (EPR and process)

 

c)   Legal, Tax, Corporate structure

Legal

  • Responsible for all legal matters, including review of contracts, agreements and other legal documents and coordinate external legal advice when required.
  • Coordinate external legal advice when required.

 

Tax

  • Compliance with every country accounting and tax standards
  • Prepare organisations tax returns accurately and in time frame requested
  • Manage completion of organisations BAS return and other regulatory returns for Director sign off in time frames stipulated and in line with legislative requirements

 

Insurance

  • Be aware of all insurance requirements of the organisation and ensure they are actioned in line with legal requirements and by due dates
  • Ensure all insurance requirements are submitted and completed by due date
  • Ensure all insurance procedures and requirements (e.g stock, existing and new properties and other) are actioned by due dates and in line with legal requirements.

 

Corporate structure

  • Complete lodgement of company secretarial forms as required by legislation by due date
  • Manage registration and renewal of all organization’s business names by due dates

 

d)  Investor and Stakeholder relations

  • Maintain regular communication and reporting to Chairman and Board. Present Financials and assigned topics/projects in Board meetings, and discuss matters as appropriate and asked. Responsible to keep minutes of Board meetings
  • Maintain good relationship to shareholders and investors and produce adequate shareholder reporting
  • Maintain good relationship with brand owners and provide support
  • Maintain close contact with auditors, company secretaries, tax agents and other advisors. Review advice and not exceeding levels as agreed by management.
  • Maintain excellent relationship with banks. Secure highest quantum of facilities at terms and conditions for The Group.
  • Communicate effectively and cordially with principals, customers, suppliers and landlords for the best interest of The Group.

 

e)   Internal Control System, Corporate Governance

  • Maintain appropriate internal controls in protecting company assets, data and records.
  • Ensure all company systems, controls and internal audit processes are carried out efficiently and in line with the company strategy

 

f)    Business support functions, Shared Service Centre

  • Ensure lean and efficient business support functions / Shared service Centre
  • Approver for Group SOPs
  • Responsible for Merchandising and Logistics until the departments are decentralized:

 

Merchandising (will be decentralized early 2021)

  • Build, lead and develop the merchandise team
  • Build and implement process / regular communication with operations team for accurate purchasing forecasts and target of 95% fulfilment rate to the group clients. (Stores, wholesalers, Franchisee, Online)
  • Monitor stock on hand to ensure a healthy stock level and maintain healthy and adequate SOH for all brands of the portfolio
  • Maintain high SOP and communication with the principal to achieve 95% fulfilment rate on the group orders and replenishments.
  • Reduce lead time to allow the group to decrease initial orders quantity and increase replenishment orders frequency (Decrease the inventory risk and reduce working capitals). 
  • Manage and control the OTB forecast on a monthly basis
  • Manage stock obsolescence and healthy category mix
  • Work closely with operation team in arriving commercial and promotional strategy with inventory mix and level.

 

Logistics (plans to be decentralized in 2021)

  • Build, lead and develop the logistic team
  • Build and implement process to ensure timely delivery and communication to all group clients (Retail stores, Wholesalers, Franchisees)
  • Manage and select warehouse and transport partners to balance cost VS efficiency.
  • Ensure compliance and proper documentation for logistic and tax documentation.
  • Design, revised and implement an optimized logistic strategy to decrease workload of team.
  • Manage freight cost and shipment cost (Value and %) and build SOP for each channel.
  • Maintain an up-to-date system to track and accurately monitor all items in stock.
  • Manage the storage cost for the group and balance the storage cost VS the items value in order to ensure a cost-efficient storage and right usage of resources.

 

g)  Project management (New Business, Business process management)

  • Regularly assess and review current processes and internal controls and implement new and enhanced systems
  • Always seek improvement and optimization of business processes and adapt accordingly.
  • Support CEO in the financial evaluation of new business and corporate projects and adhere to “new business” approval guidelines.

 

a)   Team Lead

·     Manage, and take responsibility for, the duties and training requirements of direct reports on a daily basis

·     Assess and review current capabilities/skills and knowledge of direct reports and restructure where required within agreed timeframes.

 

Key attributes:

·       Strong leadership skills, Ability to lead by example

·       Proactive

·       Excellent planning and analytical skills

·       Resourceful, fast and efficient and able to work independently

·       Strong in concepts, structures and plans

·       Result oriented person, meticulous with an eye for details

·       Strong commercial understanding and business oriented approach

·       Effective time management & prioritization skills

·       Adequate Check and Balance in the EMT

·       Good negotiation skills