Finance | Singapore | Full Time
IDP Education Limited is an ASX listed company that is 50% owned by 38 Australian universities and headquartered in Melbourne, Australia. IDP’s core business lines include student placement to Australia, US, UK, Canada and New Zealand institutions, English-language testing and training.
We are setting out to be the world's leading platform and connected international student community through building tons of new products to put our customers at the heart of everything we do.
For over 45 years our global network of 93 offices has been helping students to achieve their goals through studying abroad. By pursuing a global education at the beginning of their careers, we help them experience life-changing opportunities. For more than 2,000 employees in more than 50 countries, IDP Education is a specialist employer of choice in major cities across the globe.
If you share our passion in helping people to pursue their dreams through education and thrive in an innovative agile digital culture then come and join us as we undergo our digital revolution.
Finance Executive will be primarily responsible for general financial accounting, tax, statutory, routine transactional finance and selected admin tasks for the IDP Education Limited Singapore Branch.
The branch includes Singapore operations plus regional office management entities.
The role will also be tasked with involvement in process improvement and exposure to management reporting and analysis.
The role works closely with Singapore Country Manager, Regional Finance Assistant Manager, Singapore management team and finance shared services (FSS) to fulfil duties.
Financial Reporting & Analysis (50%)
- As part of the country leadership team, the Assistant Manager has not only to support annual budgeting process but to challenge the status quo.
- Lead development of rigorous Singapore operations monthly forecast.
- Interpret management reporting through business analysis and reviewing trends - Identify opportunities for revenue stream development or expense management and communicate and/or action as appropriate.
- Retrieve, manipulate, analyse or report financial and non-financial (e.g. sales or headcount) data required by business partners for effective decision making.
- Assess and Manage the financial and risk (including compliance) aspects of ad-hoc projects in terms of return on investment and costing.
Accounting Operations (50%)
- Ownership of the Singapore and regional office month end close process:
- calculating appropriate revenue and expense accruals and making adjusting entries where required and communicating to shared services for data entry.
- Recommend accounting operations process improvement opportunities to FSS and Regional Finance Assistant manager and implement agreed actions.
- Significant interaction and ability to solve issues collaboratively with shared services (India) or other global colleagues (SEA or Australia).
- Ownership of the Singapore and Regional Office Payments/Accounts Payable (AP) process:
- Monitor P2P (Ariba, Concur and Oracle) systems to ensure that procurement is initiated and payments are entered into system follow company policy highlighting gaps to direct/dotted line manager/s.
- Ensure that P2P required masterdata is maintained to high standard (highlighting gaps or integrity issues to other Singapore IDP teams).
- Assist operational teams troubleshoot AP issues.
- Timely submission of adhoc supporting documents to Shared Services for data entry (if any).
- Jointly monitor expenses coding (ensuring FSS are clear on guidelines and checks performed correctly) Proactively taking action as needed.
- Oversight and review of activity by Shared Services – highlight issues and holding shared services accountable to remedy issues.
- Monitor and improve internal processes to enhance efficiency, effectiveness and minimise risk.
- Working closely with operational teams and FSS to ensure SP events are accounted for correctly.
- Leading funding/banking activities
- Liaison with HSBC to undertake new initiatives or resolve issues.
- Support regional finance assistant manager to analyse and review entity funding and document findings and recommendations.
- Ownership of staff claims reimbursement process:
- Ensure reimbursement rules and allocations are provided and updated to shared services.
- To ensure staff are reimbursed in a timely manner subject to compliant claims.
- To continuously streamline or improve internal processes to enhance efficiency.
- Manage petty cash process by ensuring petty cash is used on an exception basis only and appropriate cash controls and retaining supporting documents and approvals.
- Liaising closely with PX (HR) to perform or support performance of monthly payroll (FT and PT) including calculations and executing the payroll.
- Manage and run in-house payroll software to ensure compliant (accurate and timely) payment of salaries, commissions, reimbursement of claims and submission to CPF and IRAS.
- Prepare ad-hoc invoices to bill Singapore operations clients (liaising with global IDP colleagues) and monitor/control receipts with operations team.
- Lifecycle asset control – supporting business cases to purchase, ensuring purchase deals are commercially sound and compliant to IDP policy, assets received, tagged, entered to Oracle register and regularly counted and staff follow policies to protect company assets.
- Documentation of Singapore branch accounting operations processes - compile clear and effective process notes and diagrams to ensure knowledge retention and close co-operation and knowledge sharing with other SEA finance teams.
- Support Country Manager and Regional Finance Assistant Manager to review Singapore operations SP revenue trends and billing activity. Working closely with multiple internal departments to resolve billing or revenue issues.
- Support Singapore operations IELTS activity by reviewing proposed agent contracts for commercial considerations and ensuring agent commissions are appropriately released in accordance with contract conditions.
- Ownership of Singapore branch financial audit, financial statements preparation and submission process working with third party auditors, regulators and internal stakeholders.
- All local Singapore branch tax matters including but not limited to GST, annual tax returns, employee yearly tax submissions are completed on time - working closely with third parties and PX (HR).
- Support Regional Finance Assistant Manager / Global IDP Tax with more complex tax issues.
- Lead Singapore branch company secretarial activities such as ACRA, MOM or other liaison/submissions with appropriate government departments. Working with relevant internal IDP teams as required.
Financial Planning & Analysis (15%)
- Supporting regular Singapore monthly forecasting and quarterly budgeting process; display enthusiasm to learn and add value - reviewing operational, revenue and expense trends and communicating findings and fact-based opinion to management.
- Support Regional Finance Assistant Manager by providing actual variance commentary for Singapore P&L variances monthly. Ensuring that the written commentary high quality and provided on timely basis (clear and insightful).
- Support Singapore CM with Ascent Report preparation for Singapore and co-ordinate SEA country delivery of reports each month by contacting all country representatives and arranging for delivery of all country reports to HQ.
- Providing support to Regional Finance Assistant Manager by helping to prepare or preparing other reports and analysis for either Singapore or Region such as SP Course mix reporting and showing a general willingness to learn and take additional responsibility.
- Retrieve, manipulate, cleanse, consolidate and analyse both financial or operational data required for effective decision making.
- Going above and beyond to deliver outstanding analysis to stakeholders often in short-time frames.
- Willingness to become OBI superuser (extracting financial and non-financial data from OBI) to support analysis.
- As a superuser, collaborate and support Singapore team and at times wider SEA colleagues with data needs or advice.
Other Duties (5%)
- Assist local management with business presentations.
- Support cross function process improvement projects for Singapore (and eventually across region).
- Undertake any other ad-hoc duties as directed by the Country Manager or Regional Finance Assistant Manager.
WHAT WE'RE LOOKING FOR
- Bachelor’s degree or equivalent certifications in Finance / Accounting is a bonus;
- Consistent performer with a minimal error rate and the drive to operate proactively with minimal supervision;
- Customer service attitude and an excellent team player – willing to support others to achieve wider team and company goals;
- Strong English communication (verbal and written) skills to interact effectively with global colleagues;
- Very high resilience and Adaptability to change / and work in a constantly changing environment;
- Able to overcome challenges to perform effectively;
- Strong Microsoft Excel skills;
- Desire to exceed expectations, provide valuable analytical insight and progress career.
- Compliance knowledge e.g. audit, tax and legal an advantage;
- Familiarity with Oracle and SAP systems (OBI, Ariba, Concur, EBS Suite will be a plus);
- Process improvement mindset
WORKING AT IDP
IDP Education’s ongoing success comes from our highly committed and caring employees around the globe. We encourage teamwork in order to leverage our people's diverse talents and expertise through effective collaboration and cooperation throughout our business.
We strive to provide a working environment where people are encouraged to excel, be creative and seek new ways to solve problems, take initiative, generate opportunities and be accountable for their actions.
We believe in developing dynamic, inclusive work places that encourage and celebrate cultural differences and views, and provide opportunities for personal, professional and career development all around the world. We respect diversity in our people: their ideas, work styles and perspectives as well as offering flexibility to ensure employees enjoy a satisfying balance of work and personal life.