Finance Manager Finance Manager …

Vantage Prime Holdings Pte Ltd
in Singapore
Permanent, Full time
Last application, 24 Jun 21
8000 - 10000
Vantage Prime Holdings Pte Ltd
in Singapore
Permanent, Full time
Last application, 24 Jun 21
8000 - 10000
This Finance Manager is an important member of the international management team. FM is expected to advise executives on general financial trends, issues and opportunities. FM is also expected to provide timely analysis of financial performances in different divisions and departments. In order to accomplish this, FM shall continually elicit feedback from subordinates and colleagues so they can create and communicate actionable recommendations. FM will also carry accounting duties, such as collecting, analyzing and submitting cash flow metrics to division and department heads in order to improve working capital management.

Role of Finance manager – Forex Industry

Reporting to the Directors, Senior executives, and other stakeholders.

This position is responsible for month end closing, tax compliance, treasury, and cash management along with management reporting.

In-depth knowledge of the Forex industry- such as client money reconciliation, liquidity providers profit/loss, spreads, realized and unrealized losses, swaps, rebates etc. and regulatory reporting requirements is the must for this role.

Financial Accounting:

  • Month-end and year-end reporting including accruals, provisions, and adjustments; expenses         allocation, balance sheet reconciliation.
  • Fixed asset register, depreciation, prepaid amortization, accruals etc.
  • Preparation of consolidated/deconsolidated financial statement for Group entities/disposal of subsidiar

Tax compliance duties:

  • Ensuring tax compliance with statutory laws and financial regulations.
  • Primary point of contact for the year end external audit to finalize it before the deadline.
  • Effective communication with external tax accountants if an update or change in the tax laws.
  • Develop strategic tax planning as and when required.

Management Reporting/Functions

  • Maintain monthly control checks for cost control and forecast.
  • Prepare and analyze expenses along with budgets with each department managers’ input and present to executive team.
  • Report to the management on the KPI’s MoM and keep the board aware of the financial position of the company.
  • Oversee and monitor company’s financing activities, banking, and capital structure.
  • Analyzing monthly cashflow and reporting to the board to ensure proper cash management.
  • Ensuring adequate training and resources are available within the team for efficient performance.

CFD’s Industry JD’s summary

Daily reconciliation of client money (Wholesale and retail clients)

  • Receive the data from the statistics team of the client’s trades and reconcile them with previous day’s data to ensure there is no discrepancies in the trading platform figures.
  • Reconcile all deposits and withdrawals of the clients in the trading platform with the actual deposits and withdrawals in the client trust bank account or payment gateways.
  • Ensure any pending transactions are recorded in an excel file to reconcile it for the next day.
  • Properly allocate the unrealized/realized Pnl along with the other cash adjustments for the purpose of accurate classification in the accounting software.
  • Once above are reconciled put through all the entries in the accounting software to match 3-way reconciliation – trading platform, bank or payment service providers and accounting figures.
  • Effective communication with other departments specially risk and data team if there is any variance in the reconciliation and rectify the errors for future if it exists.

Daily reconciliation of liquidity provider (LP)

  • Receive and save LP’s statement on daily basis and reconcile with the accounting software as per the LP’s pnl.
  • Communicate with risk team if funds need to be received or sent to LP to maintain margin level.

Monthly Tasks

  • Receive the Introducing broker’s (IB) commission report from the data team for the month and cross check the report with the accounting data to ensure it matches. Identify each withdrawal by IB’s is reflected in both reports.
  • Get the reports for the cost per acquisition (CPA) from the third-party software and liaise with marketing heads prior to make the payments to get their approval. Once done, reflect these figures in the accounting software.
  • Ensure regulatory requirements such as capital requirements, cash requirements etc are met as per the regulatory standards.
  • Communicate with executives, if regulatory requirements are anticipated to be not met to take proper action in due course.
  • Liaise with payment service providers to understand their backend functionality to better reflect fees charged by them for management purpose and to reconcile all the transactions.
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