Job Description
About our client
Our client provides food and agriculture products and services to the market.
About the role
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Responsible for Malaysia’s Edible Oils segment both statutory and corporate reporting requirement and maintenance of accounting records.
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To ensure accounting records are maintained in compliance with corporate and regulatory policy.
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Ensure tax compliance (both direct & indirect tax) and proper tax accounting for tax entries and implication explained in PNL.
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Responsible for reviewing P&L analysis for business use and preparing yearly budgeting.
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To coordinate with management reporting team to provide necessary management information report to support the business needs.
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To assist financial reporting manager to ensure a strong system of internal controls and risk management are in place to safeguard and preserve Company assets and value.
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One of the key liaisons with finance shared service center to ensure completeness and timely fulfillment of SLA in relation to financial reporting areas.
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SAP key user to represent Malaysia finance team.
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Initiate continuous process improvement ideas and work towards implementation.
Your responsibilities
Statutory and Corporate Reporting (20%)
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Key liaison with Corporate Financial Reporting related process which include reporting, cost allocation, tax, policy related matters etc.
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To review finance shared service work on all monthly, quarterly, annual reporting requirement such as web schedules are submitted on time and accurately.
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Responsible to prepare annual reporting requirement for statutory and corporate requirement such as audit and tax computation.
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Key expertise on currency reporting of Method 1, including revaluation and translation proof.
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To work with management reporting team to reconcile and complete the monthly finalization of PL and BS for US GAAP timely, completely and accurately.
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Ensure all local GAAP, BU management reporting, related profit centers reporting is kept and managed timely and accurately.
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To assist RTR Manager to handle annual audit and other statutory reporting requirement.
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Key person to coordinate annual statutory audit includes as key liaison with external auditors.
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Review balance sheet every month and ensure compliance with Policy 42.
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Ensure all reporting to regulatory agency e.g. BNM, MIDA, statistic department are submitted timely and accurately.
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Regular review of financial reports to ensure the records are captured correctly.
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Preparing monthly BU financial book information.
GL Accounting & PnL Analysis (30%)
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Review GL entries posted by finance shared service to ensure accuracy.
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Investigate and reconcile GL movement as required.
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Approve PID in SAP and summarized the oil gain/ loss to BU.
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Review BS recon prepared by finance shared service, advice for any action or follow up.
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Support RTR data maintenance and record retention, both system and hard copy data.
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Perform GL accounting activities as assigned by RTR team leader, including but not limited to financial reporting tasks.
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Perform BU or platform reporting as require.
Yearly Budget (10%)
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Gather information from all BU, review together the number for budget preparation.
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Highlight and participate in cost saving initiatives.
Tax Compliance – Direct & Indirect (30%)
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Review provision of tax and deferred tax computation prepare by finance shared service to ensure accuracy.
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Work with A&F leader on tax implication in PNL, including calculation of effective tax rate, tax adjustment, etc.
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Corporate tax – optimize the tax effectiveness by maximizing the tax incentives and regulated tax rules e.g. TLCF, CA, deductibility, interest restriction, etc.
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Transfer Pricing – involve in trade flow discussion to ensure TP concern are addressed in the planning of the new trade flow and compilation of supporting documents for tax audit.
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US Tax – optimize the tax efficiencies of US tax (corporate, subpart F) by removing the hurdles of US tax threshold.
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Work with A&F leader on periodic income tax estimation, including but not limited to setting up of income tax provision, deferred taxation, and relevant tax accounts.
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Work with external tax agent on corporate income tax compliance matter, including but not limited to annual self-assessment, monthly tax instalment, annual tax return preparation (consolidation of tax schedules, etc.) answering queries, etc.
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The business enjoy a number of tax incentives in Malaysia. He/ she needs actively manage and update on various tax incentive status including ensuring validity, re-application/ renewal is done timely. Ensure documentation support are retained and updated as per the special tax, regime requirement.
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Keep abreast of Malaysia tax regimes change, update and communicate to A&F leader on any potential new tax savings opportunities.
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Support and coordinate on all IRB Malaysia & custom audit and review.
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GST/ SST – responsible for timely filing of return, adequate reconciliation and review are in place and reporting done. Champion and educate the business on GST/ SST requirements to ensure no non-compliance.
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WHT – reviewing and highlight if any non-compliance.
SAP Key user & Initiate Continuous Process Improvement (10%)
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Key person to receive SAP/ EA/ Kili related issue and be the first-tier contact and solution provider.
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Working with IT on Change Request (CR) for continuous improvement initiatives.
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Initiate process improvement on day to day activities.
You will have
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Qualified Accountant with professional bodies like ACCA/ CPA/ MIA etc.
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Accounting Degree or relevant experience.
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At least 7 years financial and management accounting experience.
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At least 3 years of audit and tax experience.
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Good to have understanding of US GAAP, Malaysia direct and indirect tax matters.
