Purpose of the Role
The purpose of the role is to be responsible entirely for providing the best coordination and management of financial transactions in the function of Finance and Accounting Department. Plan, coordinate and manage the flow of entire fund/cash flow within the company. The role is to add value to an organization by managing timely accounting data and obtaining the reports for final decision making process. Performs various functions that support company’s operations and goals.
Accountable Area
- 1. Involve and Assist in the preparation of monthly, quarterly, semester-wise and yearly financial report of the company and also shall be involved in analysis of financial reports, management reports, financial statements.
- 2. Involve and play role in periodic budgetary control reports preparation in detailed to support strategic decision-making.
- 3. Contribute to financial report making, ensuring accuracy and compliance with accounting standards and regulations.
- 4. Support risk management activities, identifying potential financial risks and assisting with the implementation of mitigation strategies.
- 5. Assist with regulatory compliance, ensuring adherence to accounting standards.
- 6. Support cash flow management through effective management of petty cash expenses and account payable and account receivable.
- 7. Involve and assist in tax planning and compliance, ensuring adherence to tax laws and regulations.
- 8. Assist with the implementation and optimization of financial systems and processes.
- 9. Support the Finance & Accounting team, contributing to team development and efficiency.
- 10. Contribute to strategic financial management efforts and projects as directed by the Finance Manager.
- 11. Correspondence to the bank for any operational activities within Finance and Accounting function of the company. And we required meeting bank and their representatives.
- 12. To support the financial management and strategic planning efforts within the company, ensuring effective budgeting, cost control, cash management, and regulatory compliance.
- 13. To play the good role in the preparation and analysis of financial data, contributing to the company's financial health and supporting strategic decision-making across departments.
- 14. To coordinate and support the Finance Manager in optimizing financial performance, ensuring compliance with financial regulations, and enhancing the efficiency of the Finance & Accounting function.
- 15. To contribute to the development and execution of financial strategies and processes that align with the company's goals and objectives.
Responsibilities
1. Financial Reporting
- • Manage day-to-day accounting operations, including accounts payable, accounts receivable, and general ledger entries.
- • Prepare financial statements and ensure accuracy and completeness of financial records by reconciling accounts and investigating discrepancies.
- • Oversee month-end, quarter-end, and year-end closing processes, ensuring timely completion and adherence to reporting deadlines.
- • Prepare and submit regulatory reports and filings in compliance with industry standards and regulations.
2. Financial Planning & Analysis
- • Collaborate with cross-functional teams to analyze financial data and provide insights for decision-making processes.
- • Evaluate and recommend improvements to financial systems and processes to enhance efficiency and accuracy.
3. Fund/Cash Management
- • Monitor cash flow and implement strategies for optimizing financial performance and achieving company goals.
- • Assist in managing accounts receivable and payable.
- • Managing petty cash expenses & support effective cash flow management.
4. Budgeting & Forecasting
- • Liaise with internal stakeholders to facilitate budgeting and forecasting processes
- • Monitor cash flow, budget variances, and financial performance metrics to identify areas for improvement.
5. Financial Systems & Processes
- • Develop and maintain internal controls to safeguard company assets and ensure compliance with accounting policies and procedures.
- • Evaluate and recommend improvements to financial systems and processes to enhance efficiency and accuracy.
- • Provide training and guidance to junior staff members to ensure adherence to accounting standards and best practices.
6. Tax Planning & Compliance
- • Assist in tax planning to optimize the company’s tax position.
- • Liaison with tax officials for collecting tax clearance and audit clearance.
- • Stay updated with changes in tax laws and regulations to ensure compliance.
7. Strategic Financial Management
- • Identify and mitigate financial risks.
- • Develop and implement strategies for optimizing financial performance and achieving company goals.
8. Compliance
- • Support external audits by providing requested documentation and explanations, always ensuring audit readiness.
- • Ensure compliance with accounting policies, procedures, and regulatory requirements.
9. Team Leadership
- • Supervise and mentor F & A Team, fostering a collaborative and high-performance work environment.
- • Provide training and development opportunities to enhance the team's skills and knowledge.
10. Correspondences to the Stakeholders
- • Proper correspondences to be made amongst all the stakeholders outside and inside. The stakeholders are stand here such as bankers, vendors, suppliers, governmental officials, internal functional fellow colleagues.
Key working relationships (cross functional relationship)
Internally this job role interacts with all the functional departments of the company, need to align with other functions such as chief managing director’s office, F & A, marketing & sales operations, factory operations & production management, medical, IT, corporate affairs & legal primarily regarding financial related matters and for other needs as per organizational need and requirement.
Professional Competencies
• Master’s/Bachelor’s Degree in Accounting, Finance, Business Management, Business Administration, Semi-Qualified CA, or a related field.
• Having sound understanding of technologies such as computer, financial software applications.
• Developing analytical skill in every aspect of finance and accounting function. So that the designator can assess every information from multiple sources and draw logical conclusions regarding best deal of transactions.
• Having the strong knowledge of governmental of Nepal & Commercials Banks, NRB regulatory compliance regarding import, Income Tax Act, VAT Act, DOI, OCR, Company Act, Labour Law, SSF, CIT, PF, IRD.
• Communication skills are necessary to convey information amongst the teams, suppliers and customers. Hereby the designator should have wide range of language proficiency and need to work effectively with teams across the world.
• Develop and lead strong leadership skill so that team can be motivated to achieve organization goal.
• Maintain strong approach on problem solving status for overall spectrum of procurement and supply chain function
• Deepest understand and utilize the mathematic skill for calculating different figures and analyze the data regarding procurement function.
• Keep track of different tasks and paperwork. Plan, prioritize, and manage their own activities and office workflow even when working under tight deadlines.
• Manage and maintain vendor relationship with sound management skill on behalf of Toreva’s entire payment and products/services delivery.
• Having good understanding of nature of the business operations of Toreva as pharmaceuticals industry.
Behavioral Competencies
• Integrity (Instils trust)
• Authentic – communication, behavior & actions
• Manage professional & procedural ambiguity.
• Plans & alignment with actionable.
• Calm and soundly confident.
• Flexibility & adaptability.
• Collaborative & building networks.
• Drives process efficiency results.
• Strategic, Planner & analytical mindset.
• Diligent and adept at prioritization
• Commitment to continuous improvement and efficiency.
Working Conditions
Corporate office & territorial field work as per the requisition, job description & job-title.
Best Wishes
Toreva Human Resources & Talent Management Function.
