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.