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Finance Manager

Straits - Rawang
Rawang, Malaysia
Date Added: Jun 6, 2024

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Position:  Finance Manager 
Purpose of the role 
School Finance Manager is responsible for the full spectrum of accounting, financial reporting, statutory audit, tax, cashflow and working capital planning and management for the school. This is a pivotal role in delivering high-quality financial analysis and commentary for monthly performance reviews, rolling forecasts and budgeting including monitoring and controlling capital expenditures to align with approved spending plans. This position requires business partnering with the Campus Principal, School Senior Leadership Team (SLT) and Functional Heads and Regional Office.  
Company overview 
Straits International School Rawang is part of the International Schools Partnership (ISP), a leading International Education company based in London with 80 schools across the world. 
Straits International School opened its doors in Oct 2018, and it currently offers high quality Cambridge education for Early Years, Primary and Secondary students in a well-equipped, purpose-built campus located at Taman sari Rawang. As a school, we pride ourselves on the level of care we give to our students. We aim to combine academic rigour with a key sense of kindness, personal responsibility, and determination to overcome challenges. Our schools have a wide range of resources and support to enhance our students’ success. 
ISP Principles  
Begin with our children and students. Our children and students are at the heart of what we do. Simply, their success is our success. Well-being and safety are both essential for learners and learning. Therefore, we are consistent in identifying potential safeguarding issues and acting and following up on all concerns appropriately.  
Treat everyone with care and respect. We look after one another, embrace similarities and differences and promote the well-being of self and others.  
Operate effectively. We focus relentlessly on the things that are most important and will make the most difference. We apply school policies and procedures and embody the shared ideas of our community.  
Learn continuously. Getting better is what drives us. We positively engage with personal and professional development and school improvement. 
Core Responsibilities  
Financial Reporting and Analysis: 
  • Responsible for the day-to-day activities of finance function of the School (record-to-report, accounts payables, accounts receivables, cashflow, tax compliance and finance business partnering functions) 
  • Timely and accurate financial and management reporting, in compliance with the applicable governing standards & group reporting requirements. 
  • Prepare and analysis of the Profit & Loss and Balance Sheet of the School including but not limited to deferred income account, accruals, provisions, reconciliations, revenue recognition, discretionary spending and capital expenditure.   
  • Review all journal entry postings and ensure accuracy and completeness of the General Ledger and Sub-Ledger accounts. 
  • Perform month-end review analysis with the Campus Principal and School SLT highlighting variances and facilitating action plans to mitigate gaps to target. 
  • Present financial reports to Campus Principal, Regional Finance, and other stakeholders. 
Statutory Audit & Tax Compliance 
  • Coordinate and liaise with the external auditors on the annual statutory audit. 
  • Ensure adherence to Group policies and MFRS/IFRS requirements.  
  • Attending to all statutory audit queries in a timely manner and reviewing proposed Adjusting Journal Entries and Reclassifying Journal Entries. 
  • Ensuring compliance to and timely submission for yearly statutory audit and tax. 
Financial Planning and Budgeting 
  • Collaborate with School SLT to develop annual budgets aligned with educational goals and school strategic plans. 
  • Provide financial forecasts, projections, and analysis to support Campus Principal / Regional Finance in budgetary control for OPEX and CAPEX.  
  • To ensure strict adherence and control on all CAPEX spends and policies to approved budget, including facilitating in the preparation of investment paper where applicable. 
  • Responsible for timely and accurate reporting in line with ISP’s protocols. 
Treasury & Insurance 
  • Ensuring that the school’s cash collection target is achieved and monitor collection progress versus target, accurately report daily cash collection and monthly cash flow projections.  
  • Ensuring that the school has sufficient funds to meet its financial obligations. 
  • Ensuring that all the payments to suppliers have been properly reviewed by the finance team prior to payment, exercising clear segregation of duties. 
  • Ensuring that the school has adequate and valid insurance cover in place for all properties, staff, students and visitors to schools (e.g. parents).  
  • Ensuring conformance to ISP authorisation all times. 
Continuous Improvement 
  • Act as a strategic partner to School SLT and Functional Heads by providing financial insights and recommendations. 
  • Identify opportunities for process improvement in financial management and reporting. 
  • Participate in the automation of reporting/forecasting process, enhancement of business processes/ workflows. 
  • Performs other duties as assigned. 
  • Internal:  Campus Principals, School SLT, School Functional Heads, Regional Office team. 
  • External: Statutory Auditors, Tax Consultants, Bankers, Company Secretary and Local Regulators (MOE, CCM etc)  
Line Management 
  • Direct Report to School Campus Principal and Matrix to the Regional Financial Controller.  
  • The Finance Business Partner / School Head of Finance may subordinate between 2 - 5 direct reports.  
Commitment to Safeguarding Principles:
Straits is committed to safeguarding and promoting the welfare of children and young people and expects all staff and volunteers to share this commitment. All post holders are subject to appropriate vetting procedures and satisfactory Criminal Background Checks or equivalent covering the previous 10 years’ employment history.
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