POSITION DESCRIPTION

Transcription

1 POSITION DESCRIPTION Position Title Finance & Operations Manager Date: December 2014 Group: Reports to: Employment Status: WA Super Chief Financial Officer Permanent Full time SECTION 1 CORPORATE PROFILE WA Super is a leading industry fund servicing approximately 43,000 members, predominately within the local government sector and including some 20 percent outside of the local government sector, funds under management in excess of $2.1b and operates to serve the best interests of members and clients by delivering superannuation products and financial advice which assist members with saving for retirement by providing high quality education, advice and investment returns, at a market competitive cost with market leading service. WALGSP has established a service company (WA Local Financial Services Pty Ltd, trading as Western Financial) which delivers the full range of services required by the members. WA SUPER VISION A COMFORTABLE RETIREMENT FOR OUR MEMBERS. WA SUPER MISSION To assist members with saving for retirement by providing high quality education, advice and investment returns, at a market competitive cost with market leading service.

2 POSITION SUMMARY The Finance and Operations Manager is primarily responsible for managing the financial, administrative, budgetary, taxation and business operational activities of the Fund. The Finance and Operations Manager will effectively and proactively manage:» All aspects of the Groups Investment, Accounting, Taxation, Finance, and Business Operation functions;» The day to day administration, business operations, finances and maintenance of the groups budgets;» Maintaining positive working relationships with fund managers, asset consultant, external auditors and internal audit, accounting consultants;» The professional indemnity, directors and liability and property insurance arrangements for the group;» The group company secretary requirements for ASIC & APRA; and» Provide strong leadership, management and mentoring to the finance team. SECTION 2 KEY WORKING RELATIONSHIPS INTERNAL Chief Financial Officer The Board of Trustees, and the Chief Executive Officer Business Unit Managers and Staff Members & Potential Clients EXTERNAL Suppliers to the Fund, including investment consultants, the custodian and investment managers. Regulatory authorities including APRA, ASIC and the ATO Peer funds, including Vision Super. Relevant Superannuation and Financial Services Industry Associations including, ASFA, FSC, IFSA, ALGSA, LGMA, WALGA, ASU, LGRCEU and FEAL. Position Description Operations and Finance Manager Page 2 of 11

3 SECTION 3 KEY RESULT AREAS AND KEY PERFORMANCE INDICATORS KRA BEHAVIOURAL DESCRIPTORS KPI 3.1 Financial Control 3.2 Investments» Manage all accounting functions for WALGSP, WALFS and associated subsidiaries as required;» Ensure the accuracy and integrity of accounting system, currently MYOB;» Ensure the timely preparation of monthly and annual financial statements;» Accurate accounting & taxation entries including re-investment amounts;» Prepare and review BAS, APRA, ASIC and other statutory returns in liaison with Assistant Accountant;» Prepare accounts consolidations for WALGSP, WALFS and LGIS as required;» Complete daily interest rate verification and upload into system in liaison with Assistant Accountant and Accounts Clerk;» Ensure all reconciliations completed within specific timeframes;» Perform end of year reconciliations;» Extract and report on balance data;» Review monthly contribution and benefit payment reconciliations.» Ensure all files and records relating to the investments of WALGSP, WALFS and LGIS are accurately maintained;» Manage the unit registry for LGIS;» Maintain accounting records for all investments and distributions; Daily Daily Monthly to be completed by the 2 nd week of each month. Annual to be completed by the 31 st August. RZ03.01 Investment Management Framework. BAS Quarterly IAS Monthly APRA Quarterly ASIC as required Annually by 30 th September. Daily interest rates completed by 10am. End of Month Investment by 10 th of each month. Reconciliations completed by 15 th each month. Completed by 31 st August By business day 7 th each month By business day 14 th each month Daily Daily» Monitoring and administration of investment cost parameters, including fund manager performance to ensure efficient and cost effective performance; RZ03.01 Investment Management Framework Position Description Operations and Finance Manager Page 3 of 11

4 » Ensure all payments are made to investment managers when due and authorised;» Ensure that the cash management and treasury functions operate effectively;» Liaise with Investment Consultant (currently CPG) to ensure accurate and timely reporting;» Ensure the crediting rate and reconciliation process are operating effectively;» Supply monthly data for striking interest rates;» Effective oversight of the Group s investment portfolio, practices, policies and performance;» Liaise with Investment Managers, Banks, financial institutions, Grove and any other related body as required to manage: redemptions, calls, investment payments; foreign exchange and Term Deposit s.» Review all investment distributions, ensure accurate accounting entries including reinvestment amounts;» Prepare monthly Plan interest rate model and review daily interest rate model; Daily Monthly RZ03.01 Investment Management Framework. By business day 7 of each month RZ03.01 Investment Management Framework By business day 7 of each month RZ03.01 Investment Management Framework» Maintain monthly and annual historical interest rate models;» Obtain appropriate CEO or Director approvals/signatures as required for above;» Ensure the Risk Management Statement register is maintained; Daily or as required Annually no later than 31 st March» Verify fees and charges paid to investment managers whether paid by invoice or deduction from unit valuations; Three year cycle» Manage the directly held assets such as 105 St Georges Terrace. 3.3 Payroll» Manage company payroll function, ensure records are accurate in liaison with Assistant Accountant;» Ensure fortnightly pay run is completed on time and includes payment of overtime, provision of a statement of earnings and Fortnightly Fortnightly Position Description Operations and Finance Manager Page 4 of 11

5 any associated calculations; 3.4 Accounts Payable 3.5 Budget 3.6 Management Reporting» Perform associated leave, allowance and deduction reconciliations in liaison with Assistant Accountant;» Prepare salary sacrifice calculations;» Review and pay fortnightly WALGSP superannuation contributions;» Prepare working papers and annual fringe benefit tax return;» Review payroll tax returns;» Ensure integrity of Payroll system (Currently MYOB) including patches, upgrades and releases.» Ensure accounts payable process is completed accurately and within policy timeframes;» Review reconciliations and authorisations of corporate credit cards;» Ensure inter-account bank transfers are accurate and occur in a timely manner;» Ensure cheques and payments are authorised by appropriate cheque signatories,» Prepare annual budget in liaison with the CFO and CEO;» Monitor annual budget and provide regular reporting to both the Board of Directors and Management team;» Compile budget data including model preparation, historical and projected amounts;» Review and assist with the timely preparation and submission of monthly reports to the Board of Directors o Investment details / transactions o Income and expenditure o Bank accounts and Fortnightly Fortnightly Prepare by 31 st March for submission May, each year By business day 5 th each month Invoices to be entered on the 15th and 30/31st of each month as per policy Credit card statements distributed by day 28 th each month; Reconciled statements entered by day 3 of each month; Daily or as required As soon as cheque or EFT payments are raised. Annually no later than March each year. Prepare the monthly report for management team meeting To be completed by the second week of each month. Position Description Operations and Finance Manager Page 5 of 11

6 3.7 Insurance 3.8 Property and Building Management reconciliations» Manage balanced score card measures and perform quarterly reporting;» Manage all insurances associated with WALGSP and WALFS including but not limited to: o Directors and officers o Trustee o Workers Compensation o Commercial o Professional Indemnity o Corporate Travel insurance» Ensure Premiums for Plan Life Insurer (currently Tower) are prepared and paid in a timely manner, including annual reconciliations and calculation of profit share» In conjunction with the Property Agent maintain the status of the tenants of property owned by the Fund and the control of relevant outstanding items;» In conjunction with senior staff and relevant outside parties ensure all contract(s) for the provision of services and/or tenancies are maintained and executed;» Ensure all maintenance programs are in place for example regular testing of emergency lighting, RCD s etc and arrange contractors as required;» Be point of contact for office equipment repairs such as the arranging of contractors, electricians, plumbers etc;» Ensure the building cleaning contractor is performing their role satisfactorily and follow up any issues as required;» Manage the building space occupied by the Group;» Manage the allocation of security access cards, keys and carparking air keys;» Ensure the office security system is functional, utilised and maintained as required. Including the amendment of lift function times as appropriate; Update Quarterly Prepare documentation for annual renewal in liaison with Insurance Broker; Prepare appropriate reports to Board within meeting and renewal schedules. Bi-annually Emergency lighting tested every 6 months RCD s tested annually Position Description Operations and Finance Manager Page 6 of 11

7 3.9 Company Secretarial 3.10 Strategy 3.11 Staff Management and Leadership 3.12 Projects» Lodge all forms and updates required by ASIC & APRA for all of the groups companies;» Maintain the legal documents register;» Undertake all company secretarial functions;» In conjunction with the CEO prepare the long / medium and short-term strategic and operational plans for your area of responsibility.» Lead and inspire a team of individuals to achieve corporate objectives and ensure adherence to the team rules;» Managing the finance team with the ability to ensure business excellence, adherence to policies, procedures to achieve corporate objectives and putting people first. The management process consists of four functions of planning, organising, leading and controlling;» Conduct regular team meetings (at least fortnightly) to ensure & encourage active communication;» Conduct regular performance reviews, create development plans, set goals and objectives for Finance team;» Participate in recruitment and selection;» Ensure open & honest communication throughout team and with other departments;» Undertake &/or participate in projects within any area of the organisation as required. Annually At least fortnightly At least Annually Completed on time and budget as agreed with the manager responsible for that project Regulatory compliance and administration» Build strong, effective working relationships with the key regulatory authorities including APRA, ASIC and the ATO;» Ensure you and your direct reports operate in accordance with Western Financials policies and procedures & ensure the staff training and systems in the finance area produce a fully compliant outcome; Reduce and maintain APRA s risk framework profile of the Fund and maintain at lowest risk level. Compliance with ASIC, Corporations and other relevant laws including AFS & RSE license conditions. Position Description Operations and Finance Manager Page 7 of 11

8 3.14 Prevention of Fraud & Corruption 3.15 Audits 3.16 Personal Development» Undertake responsible risk identification and management in relation to conduct of all business activities; and» Actively participate in risk reviews and scheduled audits.» Responsible for promoting a culture of ethical conduct and ensuring fraud risks are managed and fraud incidents are appropriately reported;» Conscious of the fraud & corruption risks and able to identify, manage and implement mitigation strategies to prevent fraud;» Remain up-to-date with the latest developments in techniques & technologies used in conducting fraud as well as prevention tools;» Foster an environment in which staff are encouraged to report fraud & corruption without fear of reprisal and escalate cases in line with WALGSP Fraud Management policy including actual, potential and nearmiss events.» Perform regular audits on finance and operational functions to ensure all areas are functioning correctly;» Actively manage a positive relationship with internal and external auditors;» Assist internal and external auditors perform their duties and ensure all information required is available in the appropriate time frames. Undertake self-development activities to:» Maintain professional membership(s) and qualifications;» Maintain the fitness requirements for Responsible persons propriety & keep abreast of current industry trends;» Complete a minimum of 10 hours of Kaplan online training per year;» Participate in job rotation or job relief as required. Quarterly reporting» RZ 16» RZ 42» RZ 07 As per appropriate policy and balanced score card. As per appropriate policy and balanced score card. RZ12:00 Responsible Person (Fit & Proper) Policy & Procedure Position Description Operations and Finance Manager Page 8 of 11

9 SECTION 4 AUTHORITY LEVELS» Position operates with autonomy within parameters as set by the CFO, CEO, and by legislation or policy.» Reasonable operational and decision-making flexibility to ensure the effective and efficient implementation of all company decisions, programmes and activities and the utilisation of human and financial resources.» Authority to evaluate, promote and execute as necessary, immediate decisions when necessary subject to, legislative and CEO, HRM constraints. SECTION 5 RESOURCES AND BUSINESS LEVELS WALGSP Number of staff Operational Budget 4.25 FTE $TBA SECTION 6 MAJOR CHALLENGES Short Term (up to 6 months) Medium Term (6 to 12 months) Long Term (at least 12 months) Ensure all systems are in place to allow systems to reconcile and deliver financial reporting to meet the timeline and integrity requirements. Deliver Financial Statements seamlessly from MYOB with all data reconciling to Acurity Develop the Finance & Operations team members into a functional unit. Deliver a credible Finance & Operations service that meets all the deadlines and requirements of the organisation. SECTION 7 COMPETENCY PROFILE Critical Competencies (skills, attitudes, abilities, motivations critical to successful performance)» Highly developed financial and management accounting skills;» Ability to facilitate policy development;» Demonstrated drive and ability to improve systems, budgets, reporting, forecasting and internal controls;

10 » Strong interpersonal skills with the drive and capacity to communicate positively to members and staff throughout all levels of an organisation;» Good people skills with a demonstrated energetic and proactive approach to building and empowering people;» Excellent administrative, report writing and organisational abilities;» Legislative and statutory interpretive abilities;» Ability to understand complex commercial and contractual issues;» Working knowledge of the legislative requirements;» Excellent negotiation, influencing and problem solving skills;» Highly computer literate;» Demonstrated ability to deliver results in a flexible and unsupervised environment. Qualifications (formal, recognized qualifications/professional memberships)» Tertiary qualifications in a relevant field (finance, commerce).» Post-graduate qualifications will be highly regarded.» PS 146 accredited (desirable).» Continue to meet the fit and proper standard pursuant to the relevant provisions of the Superannuation Industry (Supervision) legislation and board policy.» Australian Federal Police Clearance. Experience (include area and level/significance of experience required)» Minimum of five (5) year s experience in a similar Operational or Finance role;» Experience within the superannuation industry (desirable);» Experience in the development and interpretation of policy and statutory requirements;» Experience with MYOB and Microsoft Office Suite;» Experience dealing with regulatory authorities in a compliance environment; and» Experience in the preparation of high level reporting and preparation of budgets. Knowledge (technical, management, industry/sector knowledge)» Strong understanding of budgets, reporting, forecasting, internal controls and preparation of financial and taxation statements;» Strong understanding of financial markets;» Understanding of regulatory requirements relating to investment management;» Working knowledge and understanding of SIS, SG and other ASIC/APRA related Legislation;» Knowledge of contemporary management principles and practices within commerce;» Working knowledge of Balanced Score Card;» Knowledge of working with a Custodian; and Position Description Operations and Finance Manager Page 10 of 11

11 » An understanding of Unit Pricing. SECTION 8 ACCEPTANCE OF POSITION DESCRIPTION Incumbent s signature Date Reporting Officer s signature Date Position Description Operations and Finance Manager Page 11 of 11