Shared Services Manager- Finance
Description
Shared Services Manager - Finance
Location: Chennai, India
Required Language: English
Employment Type: Full-Time
Seniority Level: Manager
Travel Mode: Moderate
About Us:
Buckman is a privately held, global specialty chemical company with headquarters in Memphis, TN, USA, committed to safeguarding the environment, maintaining safety in the workplace, and promoting sustainable development. Buckman works proactively and collaboratively with its worldwide customers in pulp, paper, leather, and water treatment to deliver exceptional service and innovative specialty chemical solutions to help boost productivity, reduce risk, improve product quality, and provide a measurable return on investment. Buckman is in the middle of a digital transformation of its businesses and is focused on building the capabilities and tools in support this.
Purpose:
Responsible for maintenance of high compliance with accounting practices and standards across regions. Ensures financial data accuracy and consistent reporting of financial health within the organization and develops functional business plans, manages, and coordinates resources, and leads the strategic direction of the Shared Services Finance. The role is responsible for leading and managing within a Shared Services Finance, including the supervision of staff and the achievement of financial outcomes that meet client needs.
Qualifications & Experience:
Ø Relevant experience in Business Administration, Finance, and Accounting or a relevant discipline with 5+ years of work experience in a similar role
Ø Demonstrated successful experience in stakeholder/customer engagement in a Shared Services/Contact Centre environment.
ØGood understanding of accounting principles and IFRS standards
Ø Familiarity with international development systems, policies, finances, and management in low- and middle-income countri
Ø Familiarity and experience working in different cultural contexts
Ø Proven ability to work under pressure, and with multiple concurrent demands.
Accountabilities:
Ø Supervise accountancy procedures, maintain general ledger, journal entries, accounts analysis, reconciliation, filing of documents, etc.
Ø Performs Accounts Payable, i.e., verifying all invoices for payment and ensuring expenditures are allocated and charged to appropriate codes.
Ø Preparation of Monthly Financial Statements, i.e., Monthly Balance Sheet, Income Statement.
Ø Calculate/review payroll with statutory deductions monthly to ensure local labor laws and tax regulations are current for statutory deductions.
Ø Upload, file, and report Government statutory contributions for Social Security and taxes, where relevant.
Ø Prepare and file monthly value-added tax (VAT) returns.
Ø Oversee the presentation, circulation, filing, and archiving of accounting and financial documents as directed by the home office finance.
Finance:
Ø Supports operating company Finance teams accounting systems and prepare financial information for individuals or departments within Buckman
Ø Open/close bank accounts on the authority of the Project Director and the Regional Finance Controllers.
Ø Oversee the management of bank accounts: follow transfers, check balances, check authorized expenses, and online transactions.
Ø Supervise the management of cash: available amount, balance checks.
Ø Assess monthly cash-flow needs and communicate cash requests to the home Office team twice a month.
Ø Manage money transfers, cash supply, and amounts in circulation, whilst defining payment procedures (bank transfer, cheque, cash, etc.).
Ø Oversee advances to consultants, vendors, and project staff to ensure they are reconciled within 60 days. Maintain a liquidation tracker and monitor in collaboration with project leadership; ensure advances are delineated by type (e.g., cash, credit card).
Commitment of Expenditures:
Ø Manage procedures for the commitment of expenditures, conforming to RTI’s procurement guidelines and standard operating procedures (SOP), in tandem with local procurement law(s) and practices.
Ø Reviews balance between Financial and Costing modules (in SAP)
Ø Responsible for regional Fixed Asset accounting and maintenance of CSE legal documents
Ø Enters financial data such as accruals, deferrals, reclassifications, and interdepartmental entries into the ledger on a monthly basis
Ø Ensure that procedures are adhered to in terms of contracts and payments.
Ø ledger on a monthly basis
Ø Examine financial accounts and records and complete sales GST/IVA tax filing
Ø Responsible for the commissions accounting and reconciliation of various accounts (e.g., accruals, pre-pays) (dependent on automation)
Ø Daily Bank Reconciliation
Ø Ensure that appropriate supporting documentation is obtained before expenses are operated in QuickBooks (contracts, orders, bills, invoices, delivery receipts etc.).
Budget Management:
Ø Monitor project budget and expenditures, developing budget management, reports, and tools for presentation to project leadership for activity planning.
Ø Analyze gaps between planned budgets and actual expenses.
Ø Anticipate project financial risks and consult with the Regional Finance Controllers, Project Director, and home office project management team (PMU).
Ø Gather budget projections from each team/unit, including procurement, logistics, information products, and training/technical assistance.
Ø Provide budget inputs to the project leadership and PMU.
Ø Provide financial reporting in support of contract deliverables, including but not limited to the monthly status report, quarterly report, and annual report, respecting contractual deadlines.
Compliance:
Ø Provide regular (weekly, monthly) updates to project leadership on financial pipeline, outstanding advances, projections, etc
Ø Timely response to audit and tax queries and ensure proper compliance with all regulations.
Ø Develop reporting on finance efficiency metrics (DSO, DPO, invoices per FTE, days to close), insights, and KPI reporting.
Ø Support Regional Finance Controller/Finance Managers with timely and accurate financial information.
Ø Coordinate with the Project Director, Regional Finance Controllers and Human Resources to ensure all transactions are completed in compliance with applicable local tax laws and local labor laws.
Ø Manage responses to monthly compliance reviews, ensuring corrective actions are established and action items are completed.
Financial Leadership:
Ø Oversee long- and short-term finance and admin staff and finance service providers posted in those countries.
Ø Provide input on the scope of work for finance support, ensuring proper segregation of duties.
Ø Ensure capacity building for finance team members to increase their level of technical ability and skills.
Ø Provide suggested improvements for Internal Procedures and Information Flows.
Ø Develop relevant management procedures.
Ø Nurture and grow the team.