Senior Manager-Finance (VM Wealth Management Ltd)

The Senior Manager will be required to provide accurate financial information and maintain proper accounting records to satisfy regulatory reporting requirements and to assist with policy making decisions to enhance the VM Group’s growth and development.

The successful candidate will possess:

•       BSc in Business Administration, Finance, Accounting, or any other related field

•       MBA in Finance

•       Completed professional qualification in Accounting (ACCA/CPA).

•       Ten (10) years financial accounting experience at the Managerial level in a financial institution

•       Financial managerial experience in a financial institution with stock exchange & FSC reporting

Functional and Technical Skills:

• Financial planning and strategy
• Managing profitability
• Strategic planning and vision
• Quality management
• Promotion of process improvement
• Forecasting
• Corporate finance
• Budget development and Management
• Well-rounded knowledge of the regulatory environment.
• Knowledge of integrated financial accounting applications and systems
• Treasury Management
• Financial Risk Management
• Results-driven with the ability to consistently produce results in a highly competitive environment.
• Exhibits emotional intelligence, professional etiquette, integrity, and confidence. 
• Ability to use and interpret organisational data systems to support planning and decision making.
• Ability to collaborate effectively in digital spaces.
• Ability to lead digital transformation initiatives.
• Experience with a collaborative workplace (shared digital tools and media collaborative projects and work across boundaries of teams, cultures, and institutions).
• Ability to use digital media to communicate within and beyond the Organisation.
• Experience in knowledge exchange and sharing practices.

Duties and Responsibilities:

Strategy

• Acts as a strategic partner on the leadership team and works closely with the team to ensure they are meeting performance expectations.
• Develops finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction and establishing functional objectives in line with organizational objectives.
• Develops organization predictions by studying economic trends and revenue opportunities; projecting acquisition and expansion prospects; analyzing organization operations; identifying opportunities for improvement, cost reduction, and systems enhancement; and accumulating capital to fund expansion.
• Develops financial strategies by forecasting capital, facilities, and staff requirements; identifying monetary resources; and developing action plans.
• Monitors financial performance by measuring and analyzing results, initiating corrective actions, and minimizing the impact of variances.
• Reports financial status by developing forecasts, reporting results, analyzing variances, and developing improvements.
• Provide leadership in the development for the continuous evaluation of short and long term strategic financial objectives.

Operation

• Manages the preparation of accurate and timely annual operating, capital budgets and capital plan for the group.
• Ensure the filing of financial reports and returns to the BOJ, JDIC and any other regulatory agency.
• Responsible for the Financial Reporting of VMWM/VMIL.
• Provide timely and accurate accounting records VMWM/VMIL within the established timelines.  
• Provide advice and guidance to Senior leaders in the drafting of their budgets and forecasts.
• Consolidation of monthly financial statements as well as the annual audited financial consolidations
• Maintain data integrity in the General Ledger and the sub-ledgers to ensure the accuracy of financial reports.
• Review and approval of journal entries.
• Review and approve the amortization and mark to market adjustments for investment securities, in accordance with IFRS.
• Review and approve reconciliations to the general ledger and analyses/ schedules of balances for all assigned VM Group entities.
• Review and approval of monthly f/x revaluation entries.
• Monitors the timely and accurate preparation of the daily bank/broker reconciliations.
• Ensures that fair valuation and amortized premium/discount computations are done in accordance with the requirements of IFRS 9, to reflect the correct fair values and amortized cost of fixed income investments at month-end.
• Ensures that fair valuations of equity securities are correctly computed in accordance with the requirements of IFRS 9.
• Ensures that gains/losses on the sale of investment securities are accurately computed and recorded in the sub-ledger and the general ledger.  
• Ensures that foreign exchange gains/losses on the revaluation of the VM Group’s monetary assets and liabilities denominated in foreign currency are accurately calculated and recorded.
• Co-ordinates the external audit of VMWM/VMIL to produce annual financial statements within the established deadline including the resolution of concerns raised by the auditors.
• Recommend and implement improvement in internal controls and operating procedures with a view to increasing efficiency, accountability, and profitability.
• Performs periodic reviews and updates of documented accounting policies and procedures.
• Provides support to Senior Management and other Managers as required, on accounting issues.
• Prepares the financial commentary for the annual report.
• Attend Board meetings and present financial reports as required.

Human Resources

• Accomplishes finance human resource strategies by determining accountabilities; communicating and enforcing values, policies, and procedures; implementing recruitment, selection, orientation, training, coaching, counseling, disciplinary, and communication programs; planning, monitoring, appraising, and reviewing job contributions; and planning and reviewing compensation strategies.

Deadline for applications is November 10, 2023