JOB PURPOSE

The VP Financial Control provides strong financial leadership to support Chiefs and Directors through timely reporting, analysis, and recommendations, enabling sound and speedy decision-making. The role strengthens budgeting, costing, and variance/controls frameworks, ensuring adherence to financial procedures and accurate accounting of division transactions, invoices, and accruals. It drives cost control, contract/charging review inputs, feasibility and post-investment analysis, and continuous improvement of financial systems to protect company interests and optimize resource utilization.

KEY RESPONSIBILITIES

• Assist Chiefs and Directors and subordinates with proper reporting, analysis, advice and internal controls either on adhoc basis or through preparing the regular monthly reports, which includes the vital information and statistical data that enable a sound and speedy decision making.

• Provide strong financial leadership while developing various business cases, implementing stronger and more robust financial controls, contract renewals & negotiations and budgeting process.

• Monitoring and reporting on the division’s performance and comparing it to the set objectives while explaining steps for effective control for any variation through issuance of KPIs.

• Ensure the Division’s invoices processed by Accounts Payable are within the laid down procedures by ensuring that all related documents such as an approved contract and matching Delivery Notes are provided.  Any anomalies will need to be investigated to protect the company’s interest.

• Participate in preparation of the division’s Operating and Capital budgets by acting as the division budget coordinator thereby setting internal deadlines and procedures whilst ensuring that the Division’s management complies with company parameters leading to budget consolidation at divisional level.  Also having active role in the subsequent negotiation / compromise between finance and division head/Chiefs.

• Continuously review and implement robust Budgetary control and variance analysis / reporting financial systems.

• Co-ordination between finance department and assigned Division in all financial matters such as asset requisition / disposal; budgets; payments; etc. to ensure compliance with correct financial procedures as defined in financial manuals.

• Build financial analysis and statistical reports using combination of appropriate tools.  This includes identifying management requirements, collating relevant data from existing systems, preparing report templates and calculation rules, testing, auditing, etc.

• Provide knowledge-based support to departments to resolve financial discrepancies and other financial issues during daily and periodical business review processes.

• Guide and assist Chiefs of Division and his subordinates in Financial and Operational matters in order to achieve the company’s short and long term objectives by providing information and data on issues of best utilization of expensive resources such as, but not limited to, the trend of pilots performance in relation with the actual cost to enable the best utilization of such expensive resources.

• Develop various Costing Models and perform “a sensitivity analysis to monitor and assess various scenarios and look for the best possible solutions to various problems.

• Assist chiefs and directors of Corporate Planning in the medium-term Business Planning Issues related to the Division for the preparation of the global long-term business plan.

• Advice Chiefs, Directors explain and report on all cost accounting, financial and economic matters of the areas within the Division to exert effective cost control over the company’s activities.

• Proactively review the costs of the division; especially controllable costs, and suggest ways to Chiefs, Directors to reduce this cost with a view to increasing productivity and achieving overall corporate objectives.

• Responsible for the continued development and refinement of the various cost models used by the Company for better analysis of operating results.

• Review existing and future economic viability for the divisions and process within the divisions.

• Lead capital investment feasibility studies and evaluate alternatives for lease versus purchase etc., based on discounted cash flow techniques and provide clear recommendations for appropriate decision making.

• Lead the post investment analysis of the capital investments projects and provide adequate feedback to Chiefs and this team, CFO, DFC and suggest ways for appropriate decision making.

• Continuously evaluate the cost benefit of the ongoing projects to determine its viability to the company.  In addition, analyzing and studying the various projects carried out by the Departments and suggest improvements were required to ensure compliance with the economics and financial benchmarks as envisaged in the project viability studies.

• Actively participate in contract negotiations while reviewing the contract in all areas under his/her control. 

• Create and continuously propagate awareness of cost control within the Departments, thus ensuring the optimum use of financial and other resources.

• Periodic review of internal control procedures in the Departments and recommend improvement where deemed necessary to the Chief and Directors.

• Improve communication with BCAA to ensure that all matters relating to financial and procedural issues are effectively controlled.

• Ensure compliance with all company’s Financial Procedures in areas related to the Division, giving appropriate advice and facilitating, procuring & implementing the required process relating to the company Procedures.

• Evaluate the current financial systems and continuously upgrade them to comply with evolving business practices after securing the approval of operational, financial & executive management.  Endeavor to implement best business practices in the Division.

• Ensure that all financial transactions for the Division are properly accounted in an accurate and timely manner.

• Ensure all accruals relating to assigned area are accurate and prepared on timely basis.

• Continuously review and maintain an updated database of all relevant costs of the division, in order to provide all costs in the assigned areas in a manner to facilitate route profitability analysis.

• Manage and control the reconciliation of all Division suspense accounts in the financial system.

• Ensure that invoices are raised on third parties where necessary through IATA and non-IATA.

• Ensure that month / year-end accrual for expenditure and revenue are properly provided for to reflect the actual level of activities.

• Monitor and give feed back to the Division’s' top management on the performance / utilization of the Training Facilities, endeavouring to improve its revenue generated through hours sales to 3rd parties.

EDUCATION / QUALIFICATIONS

• Bachelors degree in finance, accounting, or related.

• A masters degree is preferred.

• Professional Degree like ACA, CPA, CMA or an equivalent qualification

EXPERIENCE

Minimum of 10 years’ experience in the fields of accounting, finance including 5 years of which are in Senior Management Positions. 

JOB SPECIFIC SKILLS & ATTRIBUTES

• Fluency in written and spoken English, and demonstrated ability and experience in writing concise and accurate financial reports for executive level review.

• Advanced cost accounting, costing model development, and sensitivity analysis capability

• Analytical thinking and strong financial modeling/feasibility study skills

• High attention to detail and commitment to data accuracy and auditability

• Continuous improvement mindset and strong internal control governance