SUPERINTENDENT, GENERAL ACCOUNTING & FINANCIAL REPORTING
Toamasina, Madagascar
Full Time
FINANCE
Manager/Supervisor
"By applying for a position at Ambatovy, you agree that some personal data you provided will be collected in order to evaluate your application for this position as well as for other open positions. These personal data will be treated confidentially in accordance with the Malagasy law no. 2014-038 dated 9 Janvier 2015 on personal data protection."
POSITION SUMMARY
The Superintendent, General Accounting and Financial Reporting oversees the general accounting function to ensure that the books and records of AMSA, DMSA and the Ambatovy Enterprise are maintained in accordance with International Financial Reporting Standards (IFRS) and local statutory standards (PCG 2005) to meet the requirements set by Ambatovy’s stakeholders. This responsibility includes overseeing all aspects of the period closing process (including routine accounting entries and complex accounting entries) in terms of general accounting and coordinating activities within the Finance Department and other Departments who provide information or support during the closing process. The position also supports the Financial Controller in interpreting accounting standards, developing accounting policies, making accounting estimates, and ensuring that accounting policies and estimates are consistently being applied to accounting entries.
The position oversees the Financial Reporting function. This position is responsible for managing the preparation and distribution of financial statements for external use. The role also ensures that the financial statements comply with the applicable professional standards and IFRS reporting guidelines. .
POSITION SPECIFIC ACCOUNTABILITIES
POSITION SPECIFIC REQUIREMENTS
POSITION SUMMARY
The Superintendent, General Accounting and Financial Reporting oversees the general accounting function to ensure that the books and records of AMSA, DMSA and the Ambatovy Enterprise are maintained in accordance with International Financial Reporting Standards (IFRS) and local statutory standards (PCG 2005) to meet the requirements set by Ambatovy’s stakeholders. This responsibility includes overseeing all aspects of the period closing process (including routine accounting entries and complex accounting entries) in terms of general accounting and coordinating activities within the Finance Department and other Departments who provide information or support during the closing process. The position also supports the Financial Controller in interpreting accounting standards, developing accounting policies, making accounting estimates, and ensuring that accounting policies and estimates are consistently being applied to accounting entries.
The position oversees the Financial Reporting function. This position is responsible for managing the preparation and distribution of financial statements for external use. The role also ensures that the financial statements comply with the applicable professional standards and IFRS reporting guidelines. .
POSITION SPECIFIC ACCOUNTABILITIES
- Contribute to the period-end closing process to enable timely and accurate financial reporting; including accountability for overseeing the preparation of accounting entries related to routine and non-complex transactions and those that relate to non-routine and complex accounting concepts.
- Provides direction to the team in preparing entries for complex entries such as; environmental provisions, asset impairments, constructive obligations, embedded derivatives, fair value measurement of financial instruments, debt modifications and extinguishments, expected credit losses, right of use assets and finance and lease liabilities.
- Approves journal entries prepared by the General Accounting team and Financial reporting team as they relate to complex accounting entries including adjustment journals for consolidation purpose; such as fixed asset changes, depreciation, leases and other complex accounting matters (i.e. ERO, bonds valuations, provisions).
- Leads the adoption of new accounting standards and drafts new accounting policies in line with those standards. Oversees the team to ensure that the accounting policies are executed consistently by the General Accounting team on each transaction.
- Documents accounting policy decisions and accounting estimates in formal memoranda.
- Oversees the team in managing the fixed asset register; including ensuring that the team is coordinating effectively with Cost Centre Managers to activate and dispose of assets and their components in the correct period, applying depreciation in the fixed asset module, and allocating impairment charges (or reversals) accurately to the assets.
- Ensures that the Specialist, General Accounting & Fixed Asset oversees the annual physical verification of assets and useful life of review at the plant and mine sites. The Superintendent, General Accounting and Financial reporting communicates results of the fixed asset verification process to Ambatovy’s executive management.
- Liaises with external auditors and internal auditors during audits and provides assistance to the investigation team/ internal audit team during forensic fraud investigations when required.
- Reviews and approves monthly reports related to the Fixed Asset Register and lease register for distribution to the external auditor. Supports the external auditor during interim and year-end financial audits.
- Ensures that the accountant, General Accounting has developed and maintained processes to ensure that balances in the general ledger are routinely reconciled to ensure accuracy. Oversees that the reconciliations of all general ledger accounts are completed and ensures that identified variances are addressed. Signs off on the reconciliations.
- Provides support to the Financial Controller during the assessment of impairment indicators and completion of impairment tests. Supports the Financial Controller in documenting the assessment of impairment indicators.
- Ensures that all contracts are assessed by the General Accounting team in order to assess whether they contain an embedded derivative of finance lease. Validates and signs off on the contract reviews completed by the General Accounting team.
- Reviews and signs-off on the finance lease liability and right-of-use asset to recognized on the balance sheet. Signs off on the calculation of the finance lease liability.
- Ensures that there is a process for assessing at period end the account receivable balance for customers and suppliers and determining the expected credit losses (ECLs) to recognize based on each type of receivable. Reviews and signs off on the ECLs prepared by the General Accounting team.
- Participates in meetings of the EXCO Audit Committee and supports the Financial Controller in preparing materials for distribution to the Audit Committee.
- Supports the Financial Controller in scheduling and preparing materials for the early warning call and monthly closing call with the shareholders. Supports the Financial Controller in addressing questions raised by the shareholders during the closing process.
- Supports the Financial Controller in developing and implementing continuous improvement initiatives as they relate to General Accounting and Financial Reporting.
POSITION SPECIFIC REQUIREMENTS
- University degree (Bacc+3) in University degree (Bacc+4) in Accounting, Finance, Economics or related discipline OR
- University degree (Bacc+3) plus a professional accounting designation (i.e. CPA, CA, CMA, expert-comptable) OR
- University degree (Bacc+3) plus equivalent experience.
- 10-12 years of professional experience.
- Experience in financial reporting, and financial controls within a public company.
- Advanced knowledge of ERPs and supporting financial systems.
- Knowledge of IFRS and local statutory accounting standards.
- Excellent working knowledge of accounting general ledger and their inter-relationships;
- Good verbal and written communication skills in English
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