Job Role

The Accounts Team Lead is responsible for leading the financial planning, budgeting, reporting, and control activities of the organization. This role ensures compliance, supports strategic decision-making, and provides high-level financial insight to senior management. The position plays a key role in managing financial risks, maintaining internal controls, and optimizing the company’s financial performance.

Duties & Responsibilities

1. Financial Accounting

• Ensure accurate and timely recording of all financial transactions.
• Maintain the general ledger and oversee month-end and year-end closing processes.
• Review journal entries, account reconciliations, and financial adjustments.

2. Accounts Payable & Receivable

• Supervise supplier invoice processing and payment approvals.
• Monitor and enforce cut-off dates for monthly payables to ensure timely settlements.
• Monitor clients’ financial standing regularly to mitigate the risk of bad debts and avoid potential write-off situations.
• Follow up on receivables and manage collections efficiently.

3. Financial Reporting & Analysis

• Verify monthly, quarterly, and annual financial statements.
• Analyze profit margins, product-level costs, and business unit performance.
• Provide financial insights for pricing decisions, supplier negotiations, and bulk purchases.
• Assist in budgeting and forecasting for inventory and trading operations.
• Prepare management financial projections and forecasts.

4. Budgeting & Cost Accounting

• Develop annual budgets and financial forecasts.
• Review operational expenses (rent, utilities, fuel, stationery, courier, etc.) and flag unusual or excess spending.
• Support the valuation of closing stock at month-end/year-end.
• Track budget utilization and prepare variance reports with explanations.

5. Sales Margin & Pricing Analysis

• Analyze gross profit margins by customer, product, or region to detect areas with margin leakage.
• Monitor impact of discounts and promotional pricing on profitability.
• Alert sales and management if discounts are affecting profitability beyond acceptable levels.

6. Audit & Insurance

• Coordinate with external auditors for audits and inspections.
• Coordinate with insurance companies for all insurance requirements. Negotiate pricing and terms as required.
• Review terms and conditions of insurance agreements annually.

7. Cash Flow & Bank Management

• Monitor and reconcile daily cash positions.
• Maintain banking relationships and oversee bank statement reconciliations.
• Forecast fund requirements based on payables and upcoming projects.
• Coordinate with banks for LC (Letter of Credit), bank guarantees, and fund transfers.
• Manage and allocate funds on a priority basis.

8. Team Supervision & Coordination

• Lead and supervise a team of accountants and finance assistants.
• Ensure timely completion of monthly and year-end activities.

9. Interdepartmental Coordination

• Coordinate with procurement, HR, operations, and other departments for financial matters.
• Support the management in decision-making with relevant financial inputs.

10. Contracting Division Oversight

• Coordinate between management and contracting partners for project requirements to ensure smooth operations.
• Follow up on outstanding payments.
• Facilitate and oversee the purchase of products for the projects.
• Forecast timely funds required for the projects and submit to management.