Finance Manager (Shanghai, China)

Finance Manager (Shanghai, China)

Our client is one of the largest motorcycle manufacturers and dealers across the world.

Our client recently established a strong network in China with dealerships launched in 16 major cities. They continue to experience the global success one would expect to find from one of the keystone brands in motorcycle history.

Role Purpose

The Finance Manager will be responsible for the financial control and oversight of the subsidiary.  They will become a key contact point for Head Office and our client’s international manufacturing teams, whilst externally building and maintaining important relationships with China customs, tax officers, and others.

The Finance Manager will act as a finance business partner to the Subsidiary General Manager delivering outstanding commercial financial insight. The finance manager will also be responsible for all subsidiary financial reporting, either local statutory or group management reporting.  They will drive delivery of financial projects and initiatives for the subsidiary.

Location:

Shanghai, China plus travel to Head Office (UK) as required.

Responsibilities:

Annually/Half Yearly

Budget/6+6

• Deliver budget 6+6 for the subsidiary within prescribed deadlines and parameters
• Review budget/6+6 submissions with the General Manager
• Prepare appropriate presentations for local and group management
• Identify opportunities and risks, drive realisation of opportunities and appropriate mitigation of risks

Year-End

• Responsible for local statutory and group audits
• Reconcile and explain any difference between Statutory and Local books
• Responsible for group financial reporting schedules with associated tax analysis
• Ensure regional deliverables are met on time to Group Finance
• Submission of all statutory returns including all taxes

Monthly

Management Accounts

• Preparation of subsidiary management accounts together with supporting schedules, commentary and analysis including promotion
• Review results with General Manager
• Review the results with group management
• Preparation of monthly rolling forecast, identify key risks and opportunities and drive mitigation and delivery as required

HR/Payroll

• Manage payroll and reporting for the subsidiary (outsourced)
• Manage all HR and recruitment locally for the subsidiary

Regularly

General Manager Business Partnering

• Hold 121 meetings with General Manager
• Review the action list and agree on a focus for the coming week

Group Finance

• Hold 121 meetings Regional Finance Controller
• Review the action list and agree a focus for the coming week

Weekly forecasts and Short Term Cashflow Forecasts

• Preparation and review of the latest view forecast
• Preparation and review of short term cashflow forecast

Aged Debt

• Establish robust controls around aged debt and credit control
• Review aged debt with General Manager, putting actions in place to proactive resolve escalating situations

Transfer Pricing and Tax Planning

• Review and monitor local subsidiary compliance with Transfer Pricing policy, making proposals and recommendations for any changes as required
• Manage the tax compliance and ensure all returns are filed on time

Cash Repatriation

• Actively ensure cash is remitted to HQ and identify means and solutions to reduce cash held in China

As Required

• Support the General Manager in all aspects of running the subsidiary
• Act as a finance business partner to the Subsidiary General Manager delivering outstanding commercial financial insight
• Financial modeling and analysis, investment appraisal, business cases and scenario planning for the subsidiary as required
• Establish a robust control framework within the subsidiary, ensuring compliance with Group DoA and internal control questionnaire
• Retrospective analysis of completed projects to validate payback
• All local statutory returns as required
• Manage the legal compliance for a subsidiary, liaising with HQ and legal counsel on issues arising
• Proactively manage team members as required (currently three people, likely to increase to four in short term)
• Set challenging goals and targets and objectives
• Give regular feedback on performance
• Ensure deliverables are completed on time and to the required standard

Qualifications

• At least 10 years experience as a Finance Manager or in a similar role.
• Experience as a Finance Manager in the Automotive industry (preferred) or a related sector.
• Bilingual (Preferred) with Excellent Mandarin and English language skills
• An international outlook, ideally with experience working in Asia with an understanding of Chinese culture.