Finance Manager, Bangladesh

The Finance Manager Bangladesh will be leading the Finance organization in Bangladesh, which includes the following functions: Accounting & Reporting, Purchasing, Finance IT, Payroll, Tax, Treasury and Insurance & Risk Management. 

The goal is to ensure an effective level of support services in the country, aiming to increasing efficiency, while ensuring the right level of compliance and control. Standardization of processes and systems are a key success factor. If the business within country grows in further, a National Service Centre (NSC) will later be created.

The Finance Manager reports directly to the local Managing Director (MD) from the largest Business Line, in dotted line to the Senior Finance Director (SFD) Asia-Pacific and Middle-East, with local support from NSC India (temporary).

MAIN RESPONSIBILITIES

• Day-to-day leadership and performance management of the finance teams, processes and activities (reliable, effective, efficient), including the implementation of a performant organization and the development of strong teams:
  • Organization and Management
    • Organize and manage the different finance functions (Accounting & Controlling; Treasury, Tax & Legal; Credit & Collections; Purchasing; Payroll and Finance IT). Team of 2 FTE.
    • Define and manage overall performance by target setting & monitoring, including the definition of corrective actions when & where needed.
    • Establish and maintain a high performing team, recruiting young talents and growing and evolving strong team members, in line with agreed targets and budget. Ensuring succession planning for key positions is in place.
  • Accounting & Reporting
    • Manage accounting & month-end closing processes, ensuring reliable & timely closing and reporting of all Eurofins entities in the country to local and Group management.
    • Manage the relationship with Auditing and Accounting firms during interim and annual reviews.
    • Ensure proper controls are put in place, supervise the application of the group manual of procedures.
  • Treasury, Tax, Legal & Risk Management
    • Active management of Net Cash and Cash Flow.  Manage the relationship with local banks. Oversee the payments process and manage banking access rights.
    • Ensure compliance with tax laws and regulations (CIT incl. TP., VAT, payroll tax, WHT). Includes tax planning, filing returns and tax reporting. Acting as the main point of contact to local tax authorities.
    • Monitor and improve the national insurance policies, identify areas of over- and underinsurance.
    • Provide legal advice to business managers on contractual matters & litigations (commercial, social & labour laws).
    • Contract management and archiving (Corporate Data Room).
    • Manage and optimize working capital by overseeing AR, AP, and cash flow planning.
  •  Purchasing/ Procurement
    • Develop and implement sourcing strategies in close collaboration with Group Purchasing, in order to obtain significant cost savings and manage Total Cost of Ownership, while ensuring quality and service levels.
    • Manage and optimize the procurement processes, systems and tools, in order to ensure effective and efficient procurement of goods and services.
    • Ensure group wide reporting on purchase and the exact calculation of savings obtained (purchase database).
  • Payroll administration
    • Manage the payroll administration, in order to ensure employees are properly administered and paid.
    • Staying abreast with (changes to) social & labour laws and regulations, in order to ensure compliance.
  • Finance IT
    • Define and manage together with Finance IT and the local team and in close cooperation with the Group Finance IT Service Centre all relevant IT projects in Finance, Payroll and Purchasing (e.g. migration to new software versions, integration of new companies, etc).
    • Define, implement, and ensure application of optimized and harmonized processes in line with the Group standard in the area of Finance and Purchasing.
    • Ensure appropriate, timely information/ communication about content and progress of any Group-wide project impacting IT systems for all project members as well as with the National Service Centre and Operating Business Units.
  • Business Controlling
    • Monthly review of results & performance management against agreed targets and budget projections. Preparation of regular reports of costs per cost centre, business units (and more granular level) and products, required to drive business performance.
    • Support on the yearly Budget preparation process. Deliver forecast of the year-end figures in case of significant deviations and/or if required by Group Management. Preparation of ad hoc reports that may be needed by Business.
    • Prepare cashflow forecasts, and funding requests in case they are needed, ensuring a timely identification of a financing need, and the funding in due time in order not to affect operations.
    • Support on improving Net Working Capital. Involved on the budget preparation for NWC, and proposing and follow-up actions plans which ensure that we adjust for the current activity level and achieve the agreed targets.
    • Support Sales Managers in defining and implementing sales rules (financial conditions, discount, terms of payment, general terms of sales) or when writing particular contracts that require specific financing.
    • Support on other activities related to Business Controlling, as per business needs, and mutual agreements.
• • Credit & Collections
    • Coordinate the credit collections activities, which are performed by collection agents located in the different Business Units.
    • Manage credit collection, litigations, and bad debt recovery.
• Driving the implementation of standard processes and systems, in close collaboration and alignment with the Business and Group Finance function:
  • Active contribution and validation of the design of standard Group-wide Finance & Purchasing processes, as proposed by Group Finance.
  • Drive the implementation of these standard processes, KPI’s and controls across the different businesses and functions.
• In strong relation with the acquiring Business Line leader, leading the Post Merger Integration activities related to activities in the scope the NSC.
• Partnering with divisional business leaders and supporting decision making processes, while ensuring financial discipline across the different business lines.