ACCOUNTING MANAGER (FINANCE DEPARTMENT)

Job Purpose

The Accounting Manager is responsible for managing the company’s accounting and financial reporting functions, ensuring accurate financial records, effective financial controls, timely reporting, and compliance with applicable accounting standards and maritime industry requirements.

Key Responsibilities

• Manage the day-to-day accounting operations, including accounts payable, accounts receivable, general ledger, cash management, and bank reconciliations.
• Prepare and review monthly, quarterly, and annual financial statements and management reports.
• Monitor the financial performance of vessels, marine operations, projects, and business units.
• Maintain accurate accounting records for vessel operating expenses, repairs and maintenance, crew costs, port expenses, fuel/bunkers, insurance, agency fees, and other marine-related costs.
• Review vessel and voyage-related expenses and ensure proper allocation to the relevant vessel, voyage, project, or cost centre.
• Prepare vessel profitability and operating cost reports and investigate significant variances against budgets.
• Manage cash-flow forecasting, working capital, and treasury activities.
• Monitor receivables from customers, charterers, agents, and other business partners, and follow up on outstanding balances.
• Review supplier invoices, payment schedules, and supporting documentation to ensure accuracy and compliance with company procedures.
• Coordinate the annual budgeting and forecasting process, including vessel operating budgets and capital expenditure.
• Establish and maintain effective internal controls and accounting procedures.
• Ensure compliance with applicable IFRS/local accounting standards, tax requirements, statutory regulations, and company policies.
• Coordinate with external auditors, tax advisors, banks, insurers, ship managers, and other external stakeholders.
• Support financial aspects of vessel acquisitions, disposals, dry-docking, capital expenditure, and major marine projects.
• Monitor fixed assets, depreciation, capitalisation of vessel-related expenditure, and project costs.
• Review payroll-related accounting, including crew costs where applicable.
• Lead and supervise the finance/accounting team, including assigning responsibilities, reviewing work, and developing staff.
• Provide financial analysis and advice to senior management to support operational and strategic decision-making.
• Identify opportunities to improve accounting processes, reporting systems, cost controls, and financial efficiency.
• Ensure proper documentation and audit trails for all financial transactions.

Requirements

• Master’s degree in Business Administration, Accounting, Finance, or a related discipline.
• Typically 5 years of accounting/finance experience, preferably with management or supervisory experience.
• Experience in the marine, shipping, ship management, offshore, logistics, or maritime services industry is highly advantageous.
• Strong knowledge of financial accounting, management accounting, budgeting, financial reporting, and internal controls.
• Experience with vessel accounting and marine operating costs is an advantage.
• Good knowledge of Microsoft Excel and accounting/ERP systems.
• Strong analytical, organisational, and problem-solving skills.
• Good communication and stakeholder-management abilities.
• High level of integrity, accuracy, confidentiality, and attention to detail.

Key Performance Indicators (KPIs)

• Timely and accurate monthly financial closing.
• Accuracy of financial statements and management reports.
• Effective control of vessel operating expenses.
• Budget versus actual cost performance.
• Timely collection of outstanding receivables.
• Effective cash-flow and working-capital management.
• Successful completion of internal and external audits.
• Compliance with accounting policies and statutory requirements.
• Efficiency and accuracy of the finance team.