General Manager Financial Reporting, Planning & Fixed Assets

Purpose

This role is responsible for development and monitoring of accounting framework, accounting system and internal controls which facilitates the business segment while reporting; Supervise the closing of accounting books on monthly, quarterly, half yearly and annually to prepare the financial statements in conformity with the IFRS and other statutory requirements. This role involves a significant amount of senior level and leadership engagement and managing cross business accounting and control issues to ensure financial statements are prepared on a timely and accurate basis including audit and that external financial reporting is of a consistently high standard for each reporting periods (month end, interim and annual)

This role plays a key role with business finance team by implementing new/changes in Companies Act, IFRS as adopted by SECP and ICAP and involves in matters such as technical accounting issues, coordination of stakeholders, drafting of white papers, and the update of business’s accounting policies.

This role is responsible for ensuring accurate and efficient accounting and reporting of fixed asset of the Company and supervise maintenance of accurate records and ensuring asset register are fully reconciled and prepared as per IFRS and other statutory requirements.

Education (Mandatory)

Professional Accountant (CA/ACCA/CIMA/ICAEW)        
 

Trainings & Certifications (Preferred)

1. Advanced SAP Financials training
2. Leadership and financial strategy training   

Years of Experience

9+ years of professional experience (including at least 5 years post-qualification experience) in financial reporting, auditing, and business finance

Functional Competencies

Area of Responsibilities

1.    Financial Reporting

• Supervising closing of monthly accounting activities by 10th Calendar Day of month.
• Reviewing presentation on monthly financial statements for reasoning of variations from comparable period to Finance Leadership prepare by line mangers. 
• Reviewing Quarterly/half yearly/nine months financial statements as per statutory requirements.
• Coordination with external auditors for review of condensed interim financial statements and held discussions to resolve the issues timely.
• Reviewing presentation on operational and financial performance of the quarter to be presented to BAC / BOD and interact with CFO to finalize the same.
• Detail review and supervise annual financial statements as per statutory requirements.
• Co-ordination with external auditors for completion of audit within stipulated deadlines
• Submits the audited financial statements to the Director Finance/ CFO for review, further feedback, and approval
• Reviewing preparation of other financial information analysis for annual reports as per ICA BCR requirements
• Supervising Co-ordination with vendor (publisher) for publishing of quarterly / annual financial statements.
• Ensuring compliance of Best corporate reporting (BCR) checklist for annual report
• Reviewing presentation for AGM.
• Reviewing various MIS reports for regulatory affairs, Government agencies, lenders and internal department requirements across the busines functions.
• Review quarterly Directors report in line with the Company’s business and operations, actively interacting with departments across the busines function to obtain director report’s contents. After review and compilation present it to Director Finance and CFO for inclusion in the financial statement as per statutory requirements,
• Draft opinions on various issues relating to implementation of IFRS and other control documentation and SOPs and present it to Director Finance and leadership for approval purposes.
• Involve in the automation of financial statements and other SAP reports through close interaction with the Sap consultants and IT department.

2.    Business Process, Compliance and Monitoring

• Reviews accounting policies and suggests changes in conformity with requirements of IFRS and supports in preparation of various policies and procedures for a better outcome of the financial statement.
• Reviews the requirements of International Accounting Standards (IAS) and the Financial Reporting Standards for measuring, disclosing elements from which financial statements are constructed and ensures compliance in the financial statement in relation to IFRS, IFAS, ISA, Compliance Act 2017, Sales Tax Act, Income Tax Act, WHT and SRB tax
• Facilitates internal audit of the Financial reporting process, address their findings and implementing actions to reduce gaps and coordinates finalizing the internal audit report with management comments thereon and resolves the control deficiencies identified by the Internal auditors in process of Financial reporting.
• Interact with departments and external auditor to finalize management letter and representation letter
• Significant liaison with senior management including leadership to ensure business issues are appropriately identified, accounted, and disclosed in the Company’s financial statements.
• Ensure impact of all accounting and financial reporting developments is understood and accurately reflected in external reporting in line with statutory requirements

Area of Responsibility Continued

• Prepare relevant briefing papers for stakeholders as appropriate.
• Manage external auditor relationships, ensuring timely resolution of technical accounting and other audit issues and dealing with internal audits in carrying audit by providing information and assist in implementing actions relating to accounting and control gaps.
• Lead financial reporting control environment improvement projects.
• Replying to queries of Lenders, Prospective investors, SECP and other regulatory bodies and convey information to detail due diligence exercise. 
• Replying to the queries of different departments related to financial reporting and accounting issues.

3    Management Reporting 

• Finalize Periodic Management Reporting including Monthly Management Reports highlighting company wide performance of BUs against KPIs and 
• Finalize Monthly Finance Report highlighting Finance Departments’ performance 
• Finalize monthly EBITDA bridge, contribution margin, operations and Maintenance various analysis and comparison with MYT benchmarks and business plans/budget
• Finalize the spending and overall profitability/ cashflows against budget and the forecasted profitability;

4    Fixed Assets, Business Process, Automation and Special Projects

• Ensuring the integrity and full statutory compliance of financial statements and fixed asset register 
• Supervising record and management of fixed asset register, review reconciliation and roll forward schedules for fixed asset balance sheet accounts.
• Supervising recording of all financial transactions including recording of depreciation, liabilities and assets.
• Ensure proper disposal of assets recorded in fixed asset register.
• Reviewing monthly FAR and CWIP reports circulated to BFs.
• Supervise coordination activities with external and internal auditors in providing schedules for the completion of annual, half yearly and internal audits.
• Supervise different IT related and fixed asset management projects for better accounting and accurate management and statutory reporting.
• Supervise financial process improvements and automation process.

5    People Management

• Provides effective and inspiring leadership to direct reports; Ensures parity among subordinates with regards to learning and growth opportunities
• Builds a conducive environment for engaged and committed team; Creates a sense of purpose and self-fulfillment among subordinates.
• Delegates the responsibilities to the direct reports and creates a sense of urgency. 
• Leads by example, motivates and maintains a competent and high performing staff, capable to meet current and future needs. 
• Identifies training and development requirements of subordinates to take future roles.
• Manages performance of direct reports through objective setting, continuous support, feedback and formal appraisal; Coordinates with HR for recruitment of new talent

Preferred Job Experiences

1. Successfully led the development and implementation of revenue & tariff reporting mechanisms preferably in Energy Sector.
2. Worked directly with regulatory teams to ensure compliance with tariff structures and reporting requirements.
3. Developed and negotiated Power Purchase Agreements (PPAs) with key stakeholders.
4. Implemented and monitored compliance with PPA terms and conditions.
5. Experience of controlling O&M expenses of projects preferably generation plants.
6. Development of KPI monitoring mechanisms combining techno-commercial angles to achieve financial objectives.