K-Electric is hiring for Manager Planning, Budgeting and Reporting in its Finance Function.
Date: 06-Apr-2023
Location: Karachi
Company: KE
Our employees are our company's greatest asset - they are our real competitive advantage. We possesse immense power of innovation, immagination and a desire to attract and retain the best; provide them with encouragement, stimulus, and make them feel that they are an integral part of the company's mission.
Purpose:
This role is primarily responsible for ensuring accurate and appropriate statutory financial reporting. The role involves a significant amount of senior level engagement and managing cross business issues/stakeholders to ensure financial reports are prepared on a timely and accurate basis and that statutory financial reporting is of a consistently high standard for each reporting period (month end, quarterly and year-end). The role is responsible for:
- Accounting, advising senior management and relevant business finance teams on accounting issues and developments as well as the delivery of certain ad hoc projects where specialist accounting knowledge and expertise is required.
- Financial Reporting, preparation of statutory financial statements in compliance with statutory timelines for approval from Board Audit Committee and Board of Directors for issuance to shareholders, regulatory bodies and investors.
- Manage the relationship and interface with External Auditors / consultants and regulators; mainly Securities and Exchange Commission of Pakistan (SECP), Institute of Chartered Accountants of Pakistan (ICAP), Pakistan Stock Exchange (PSX).
The role would also provide significant input into financial improvement initiatives (e.g. systems implementation, Chart of Accounts).
This role plays a key role with business finance team by implementing new/changes in Companies Act, accounting standards issued by International Accounting Standards Board and 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 position also performs research on technical accounting issues and educates finance department personnel as necessary to ensure compliance with accounting standards and finance SOPs. This position also maintains the necessary internal documentation and evaluates issues of non-compliance across the business.
This role also regularly updates accounting procedures and policies in addition to implementing process improvement and efficiencies, acting as a point of contact for all accounting matters. Also provides key accounting support to business finance in developing departmental financial strategies.
This position acts as the finance department’s coordinator for external audit, interim review and related certifications.
Education: CA
Knowledge:
- Detailed understanding of complex commercial, accounting and financial reporting issues (IFRS and SECP directives)
- Experience of delivering financial consolidations and interim and year-end reporting
- Understanding of taxation and related regulation applicable in Pakistan
Experience:
3-5 years of accounting and reporting experience (including articleship experience)
Competencies:
- MS Office Tools_AM-DM
- Treasury Management_AM-DM
- Contract Management_AM-DM
- Data Analytics and Reporting_AM-DM
- Industry Principles and Concepts_AM-DM
- Supply Chain Management_AM-DM
- Tax Management_AM-DM
- Mental Agility_AM-DM
- Project Management_AM-DM
- Operational Management _AM-DM
- Financial Management_AM-DM
- SAP Management_AM-DM
- Drives Change_AM-DM
- Drives Results_AM-DM
- Internal Audit Techniques_AM-DM
- Insurance Fundamentals_AM-DM
- Building High Performance Teams_AM-DM
- Business Acumen_AM-DM
- Technical Writing_AM-DM
- Financial Acumen_AM-DM
- Business Partnering _AM-DM
- Performance Monitoring and Measurement_AM-DM
- Sustainability Management_AM-DM
- Self Awareness_AM-DM
- Stakeholder Management_AM-DM
- Process Safety Management_AM-DM
Area of Responsibilities
1 Financial Statement Preparation 40%
- Ensure closing of monthly accounting activities within in standard timelines.
- Preparation of Quarterly/half yearly/nine months and annual financial statements as per statutory requirements.
- Preparation of presentation on operational and financial performance of each quarter to be presented to BAC / BOD within statutory timelines.
- Co-ordination with external auditors for completion of audit/review within statutory deadlines stipulated by Companies Act, 2017
- Submits the audited financial statements to the GM & Director Finance/ CFO for review, further feedback and approval; Preparation of presentation in relation to financial results in order to submit to the GM/Director Finance, CFO and the Audit Committee and BOD for a detailed analysis in relation to operations and financial results
- Preparation and coordination for Directors Report for each quarter/half year and annual
- Preparation of information to be included in Annual Report of the Company to be issued to shareholders and investors; this includes Dupont analyses, direct cashflows, statement of value addition, statement of free cashflow, commentary on financial performance, graphical presentation of financial performance, horizontal and vertical analyses
- Ensuring preparation of Annual report in compliance of Best corporate reporting (BCR) criteria prescribed by ICAP.
- Preparation of presentation for Annual General Meeting of Shareholders for approval of Financial Statements
- Co-ordination with vendor (publisher) for publishing of quarterly / annual financial statements.
2 Business Process, Compliance and Monitoring 30%
- Reviews the business processes and suggests changes for improvement of the systems; Assists SAP consultants in adopting the changes required in procedures
- 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 and Compliance Act 2017.
- Facilitates internal audit of the financial reporting process, address their findings and coordinates finalising the internal audit report with management comments thereon
- Resolves the control deficiencies identified by the Internal auditors in process of financial reporting.
Area of Responsibility Continued
3 . Focal Point for matters related to Financial Reporting and Accounting 20%
- Manage external auditor relationships, ensuring timely resolution of technical accounting and other audit issues.
- Lead financial reporting control environment improvement/automation projects.
- Serve as focal point to liaison with Regulatory affairs department in replying to queries raised by NEPRA related financial and accounting records of the Company.
- Serve as focal point to liaison with legal affairs in replying to queries raised by National Accountability Bureau (NAB)/courts.
- Replying to queries of Banks, Prospective investors, SECP, ICAP and PSX.
- Replying to the queries of different department related to financial reporting and accounting
- Significant liaison with senior management 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.
- Prepare relevant briefing papers for stakeholders as appropriate.
4. People Management 10%
- 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-fulfilment 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
KE provides equal employment opportunity (EEO) to all persons regardless of age, color, origin, physical or mental disability, race, religion, creed, gender, marital status, status with regard to public assistance or any other characteristic protected by federal, state or local laws.
For Apply:
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| K-Electric is hiring for Manager Planning |
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