Finance Controller

Job Description

Role Introduction

The Financial Controller is a senior leader within the finance department, responsible for the oversight of daily accounting operations, financial reporting, budgeting, forecasting, and ensuring compliance with financial regulations and accounting standards in Nepal. This role requires strong financial acumen, leadership skills, and the ability to contribute to the organization's strategic financial planning.

Key Responsibilities

Key responsibilities include managing daily accounting operations such as billing, accounts payable, and general ledger, as well as coordinating budgeting and financial forecasts. The role involves preparing and publishing financial statements, ensuring accuracy in financial transactions, and ensuring compliance with Nepali financial regulations and accounting standards. The Financial Controller also maintains internal controls, oversees finance staff, manages cash flow and debt, and supports strategic financial decision-making. Liaison with auditors and government authorities may also be required.

Financial reporting and consolidation.

• Lead the preparation and consolidation of monthly, quarterly, and annual financial statements for the company, adhering to International Financial Reporting Standards (IFRS) or Nepal Financial Reporting Standards (NFRS).
• Ensure timely and accurate elimination of intercompany transactions, such as sales, loans, and receivables, to provide a true and fair view of the group's financial position.
• Coordinate with the finance teams of all subsidiaries to ensure consistent accounting policies and practices are followed across the group.
• Other day-to-day financial operations of the company.
• Work as directed by the supervisor on a need basis for the company.
  
  

Strategic financial management.

• Oversee the group-wide budgeting and forecasting processes, integrating the financial plans of all member companies.
• Provide detailed financial analysis and reporting to senior management and the board of directors on the performance of individual companies.
• Act as a strategic advisor to the executive team, offering insights on business performance, capital expenditure, and investment decisions.
• Identify opportunities for cost reduction and efficiency improvements across the group's operations.
  
  

Governance, risk, and compliance

• Develop and implement group-wide financial policies and robust internal controls to safeguard assets and ensure accurate reporting.
• Oversee internal and external audits for all entities within the group, and liaise with auditors as needed.
• Ensure full compliance with all relevant Nepali tax regulations, including VAT and TDS, and other financial regulations for each company.
• Manage financial risk across the group, including currency fluctuations, liquidity, and operational risks.
  
  

Team leadership and coordination

• Lead and mentor a finance team that may include controllers or accountants at the subsidiary level.
• Foster strong collaboration between the central finance team and subsidiary finance teams to ensure a unified approach to financial management.
• Set performance metrics and targets for the finance function across the group.
  
  

Administrative Roles

Policy and Procedure Implementation:

• Develop, implement, and enforce standardized financial policies and procedures across all group companies to ensure consistency and efficiency.
• Regularly review and update financial policies to adapt to changes in regulations, business needs, and best practices.
  
  

Resource Management and Allocation:

• Participate in the allocation of financial resources and budgeting for administrative departments within the finance function across the group.
• Ensure that each subsidiary's finance department is adequately resourced (personnel, tools) to meet its reporting and operational obligations.
  
  

Documentation and Record Keeping:

• Establish and maintain robust record-keeping systems for all financial and administrative documents for the group and its subsidiaries, ensuring easy retrieval and compliance with legal requirements.
• Oversee the proper archiving and destruction of financial records in accordance with retention policies.
  
  

Legal and Regulatory Liaison (Administrative aspects):

• Coordinate with legal counsel on financial legal matters affecting the group and its subsidiaries.
  
  

Internal Communication and Collaboration:

• Foster effective communication channels between the central finance department and the finance teams at the subsidiary level.
• Organize regular meetings with subsidiary finance heads to discuss performance, challenges, and group-wide initiatives.
• Act as a central point of contact for financial administrative queries from other departments or subsidiaries.
  
  

Office Administration (Finance Department Specific):

• Manage the administrative aspects of the central finance department, including supplies, equipment, and workspace organization.
• Ensure a secure environment for handling sensitive financial information within the finance department.
  
  

Requirements

• Education: A Chartered Accountant (CA), ACCA, or a Master's Degree in Finance or Accounting is typically required.
• Experience: A minimum of 3 years in a relevant finance management position is generally expected.
• Other important skills include experience in financial planning and reporting, understanding of financial systems, strong analytical and leadership abilities, effective communication, and proficiency in accounting software. Commitment to organizational goals is also valued.