This position leads and manages operations of Finance department of PSDF; Prepares and develops the departmental budget and plan aligned with departmental goals; Plans and organizes the annual budget planning and review exercise; Monitors accounts activities and manages finance operations; Manages the preparation of periodic financial statements; Generates routine and special reports upon request of management. These responsibilities are carried out WITH the objective to streamline finance operations, effectively track budgets, avoids financial risks, successfully achieve allocated targets and enable management for effective financial decision making WITHIN the limits of established company policies and procedures, departmental objectives, directions/guidelines from CFO, guidelines of organizations Policy, guidelines of Tax laws, Company Law(s), International Accounting Standards (IAS), laws of SECP, International Financial Reporting Standards.
Donors: Discusses customized report requirements and provides understandings on all customized financial reports; Provides support to resolve all finance related queries of Donors.
Auditors: Coordinates during organization audits, understands information requirements and seeks clarification in same. Provides requested information and liaises for resolution of the queries.
Monitoring & Evaluation: Shares requested financial reports with P&D and resolves related queries. Liaises with accounts & M&E for timely resolving all invoicing issues.
Program Development: Coordinate to resolve all related queries and liaises to gathers relevant information for timely finalization of contractual invoicing patterns; Discusses and receives RFP’s to fulfill all audit requirements; Corresponds to all workings required by PD during contract signoffs and resolves all related queries.
Education & Relevant Experience :
ACA/ACMA qualified; CA Qualified with 3-5 years of experience preferred, MBA with 8-10 years of relevant experience in financial management, treasury, taxation with at least 3-5 years of managerial experience in a reputed service organization
Good understanding of PSDF’s policies & procedures and TVET sector its dynamics, trends
Understanding of business processes, practices and SOPs of PSDF
Good practical knowledge of IAS and Company's Ordinance 1984
Good understanding of business processes and Company systems like ERP Financials
Knowhow of Audit & Internal Control Standards
Thorough knowledge of IFRS
Knowledge of risk assessment and management
Acquaintance with Federal and Provincial Tax Regulations
Knowledge of banking regulations
Understanding of companies’ Ordinance 1984
Knowledge of Risk Management Principles and Techniques
AREAS OF RESPONSIBILITY
Shares departmental performance with supervisor against objectives set for previous year; Understands & collects Departmental requirements with support of subordinates and reflects upon department’s associated needs; Develops finance departmental objectives/ plans in light of objectives and sets targets for upcoming year based upon comparative and trend analysis; Presents and discusses the departmental plan with supervisor and improves as per recommendation rendered and seeks approval of the same from designated authorities; Performs departmental manpower planning based on approved targets, defends and seeks approval on the same from relevant authority; Formulates policies, SOPs, frameworks and models (segmentation, prioritization etc.)of Finance & Accounts, improves same upon feedback of Supervisor and seeks approval of same from Supervisor; Briefs subordinates about approved plan, delegates responsibilities and allocates targets to team; Implements and monitors progress of approved annual plan and ensures compliance with same.
These activities are carried out IN ORDER TO accurately estimate Finance & Accounts departmental requirements, effectively contribute in the achievement of company objectives, and to bring about improvement in process quality.
Budgeting, Planning & Monitoring
Initiates the budget preparation process upon receiving target elements/ focus areas from CFO; Engages relevant departments for budget preparation; Seeks clarification in proposed budget from respective departments; Consolidates and prepares draft budget and shares with CFO; Participate in clarification and validation meetings with all departments along with CFO; Assists CFO for finalization of annual budget and supports supervisor for subsequent approval od same from designated authorities; Guides team to incorporate changes recommended by Board into the budget; Floats finale budget to all departments; Designs and improves budget tracking tools in-consultation with CFO; Drives the variance analysis against budget for relevant departments; Reviews analysis findings and shares the same with CFO; Monitors progress and changes and keep senior leadership team abreast of the organization’s financial status; Advises on and ensures that proper financial controls are in-place and exercised; Maintains a working knowledge of how new regulations/policies, and political/economic trends may impact.
These responsibilities are carried out IN ORDER TO successfully manage and track organizational budgeting and keep management informed about budget consumption status.
Financial Operations Management
Monitors and managers finance operations; Prepares management accounts of monthly / quarterly bases or as per set criteria; Estimates cash flows based on invoicing schedule and approved budgets and manages as per CFO’s direction; Scrutinizes received invoices and highlights and fixes queries in invoices; Supervises posting of invoices into system; Ensures timely disbursement of all cheques to related parties; Provides explanation to donors and resolves related queries; Calculates withholding and sales taxes and ensures timely filling and payment of the same; Manages fixed asset accounts; Supervises and oversees treasury related activities; Performs bank reconciliations as per defined schedule; Coordinates and leads the annual audit process, liaise with external auditors during audit process and escalates pending matters to CFO for resolution of same.
These responsibilities are carried out IN ORDER TO ensure all payments are timely and accurately disbursed and records are efficiently maintained in the system.
Accounts Operations Management
Oversees team’s daily activities of account operations; Reviews status of allocated work in weekly meetings, discusses issues faced by team and guides for amicable resolutions; Develops accounts tracking and monitoring tools, presents tools to supervisor and seeks approval of the same; Monitors and tracks accounts activities while using accounts monitoring and tracking tools; Highlights associated challenges and devises actions steps to cope with challenges based on the recommendation, feedback and ideas of CFO; Brainstorms ideas for improvements in progress of accounts; Seeks support of management for resolution of pending matters.
These responsibilities are carried out IN ORDER TO assure appropriate accounting treatment of all account related transactions in accordance with the law.
Understands special reports requirements from CFO, prepares and presents the reports as per defined timelines; Oversees preparation of monthly accounting reports as per standards by reviewing all expenses OPEX and CAPEX in-coordination with CFO; Prepares, analyzes and present financial reports in an accurate and timely manner; Shares monthly and annual financial statements with CFO and other stakeholders upon approval of CFO; Collates financial reports and supporting documents for all donor, and manages all financial, project/program and grants accounting; Reviews all month-end closing activities including general ledger maintenance, balance sheet reconciliations and corporate/overhead cost allocation; Ensures timely finalization of the annual report and its printing; Participates in various projects related to reporting.
These responsibilities are carried out IN ORDER TO ensure timely & accurate preparation and submission of financial reports and efficient reconciliation of accounts while complying with Accounting standards
Provides effective and inspiring leadership to direct reports; Ensures parity among subordinates with regards to learning and growth opportunities; Helps creating a conducive working environment to build and sustain an engaged and committed team; Creates a sense of purpose and self-fulfillment among subordinates; Crafts the need for empathy when necessary; Delegates the responsibilities to the direct reports; Keeps the team emotionally aware, sensitive and open to accept planned organizational changes (if any) for the greater good; 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; Handles administrative issues related to HR i.e. conflict management, grievances handling, disciplinary issues etc. of the team.
These responsibilities are carried out IN ORDER TO build and retain a highly engaged, proficient, motivated, knowledgeable and effective team.
Punjab Skills Development Fund (PSDF) is a not-for-profit company set up under the Companies Ordinance 1984 by the Government of the Punjab in collaboration with Department for International Development UK. Established in 2010, it is a GBP 50 million training fund set up with the objective of financ ...Read More