The BASF Shared Services Center Kuala Lumpur was established in 2005. Located in Kuala Lumpur, it has approximately 700 employees and provides functional services in the areas of Finance, Controlling, Information Services, Human Resources, Environment, Health & Safety, Procurement, and Import-Export Order Management to BASF companies and affiliates in 17 markets across Asia Pacific. BASF also has three other Shared Service Centers that cover Europe and the Americas, located in Berlin and Ludwigshafen, Germany, and Montevideo, Uruguay.
Objectives of the Position
- Take full responsibility of accounting and reporting topics for engaged companies. Monitor financial statements and work with stakeholders to solve issues.
- Act as Finance communication channel to external stakeholders and coordinate different teams within and out of Finance community with Manager's guidance.
- Independently deliver Financial Reporting services to BSSCKL customers in accordance with established Financial Reporting processes and work procedures and in compliance with BASF policies & guidelines, Internal Control requirements, local company legal and statutory requirements.
- Ensure that timelines and quality meet the agreed service levels and targets.
- To coordinate and support the accountant in performing Financial Reporting function.
- To back up, assist with and perform Financial Reporting tasks as required.
Functional Tasks (including but not limited to):
- Provide Financial Reporting transaction processing support and ensuring delivery quality in terms of accuracy, completeness and timeliness on daily basis.
- Perform and analyze booking of accounting and fixed asset transactions, master data maintenance, workings and account analysis.
- Ensure clearing of open items in accounts are performed as and when it required
- Execute month end close steps in accordance with work instructions and month end close checklist.
- Prepare month-end, quarter-end, year-end and statutory financial reports for BASF companies across Asia Pacific on timely, accurate and complete basis. This would include reports for group reporting, internal management reporting, statutory reporting as well as any agreed ad hoc reports required e.g. audit schedules, tax schedules etc.
- Co-ordinate month-end, quarter-end, and year-end close activities to ensure timely and accurate closure of accounts.
- Perform analytical review of profit and loss accounts and balance sheet, trend analysis, cost center checks, fixed asset checks and transaction posting checks.
- Trouble shoot to resolve issues related to Financial Reporting processes.
- Liaise with relevant stakeholders on Financial Reporting work issues and queries.
- Initiate continuous improvement in the areas of operation.
- Review business transactions and ensure compliance with local GAAP/IFRS. Preparation of local GAAP financial statements
- Act as a backup for Team Specialist on daily task as and when required.
- Perform other duties as and when delegated, including job rotation to other functional teams as and when required.
- Participate in any compliance/local country audits and respond/resolve to audit queries.
- Responsible in all work documentation and work processes update/development and meet with Internal Control Framework on timely basis
- Ensure compliance to BASF policies & guidelines, Financial Reporting Compliance requirements, local company legal and statutory requirements.
- Contribute and support the Senior Manager and Managers/Experts/Team Specialists in the implementation of project initiatives e.g. Continuous Improvements, Technology Enhancement, Internal Control, Six Sigma, Scorecard etc.
- Coordination, monitoring and compilation of Key Performance Indexes (KPI)
- Such other tasks as BSSCKL management and changing business environment may require to be performed
- Support team strategic plan and objectives
- Participating in working groups (i.e. Smart Close, Final Sprints, RRM, CbCR & etc.)
- Involve in local project implementation, when necessary. Familiar with country setup, internal controls and well-versed with Companies Act
- Supervise the operations in accordance with the service management framework by providing timely and accurate customer service
- Ensure customer queries are attended to and resolved in a timely, responsible and proactive manner
- Review backlog and cycle time reports to improve process flow times
- Ensure all workflows are processed within agreed service timelines
- Monitor SLAs, Balance Scorecard and KPIs, to ensure continuous improvement in operations and service to customers
Quality and Continuous Improvement:
- Identify, recommend and implement solutions in consultation with Senior Manager and Managers for continuous improvement opportunities
- Ensure update changes to process documentation when required
- Support standardization across regions and globally by focusing on alignment of end to end business process areas, system and tools.
- Support in improving productivity of Financial Reporting by conducting relevant benchmarking exercise and monitoring through Key Performance Indexes
- Assist to ensure effective knowledge transfer as for sustainable development of knowledge within the team
- Assist to provide operational and strategic support in designing, implementation and continuous improvement of Financial Reporting internal functional training to maximise learning process based on current and future business needs.
- Assist to develop, maintain and update a set of comprehensive and complete training materials of Financial Reporting internal functional training.
- Work with the relevant stakeholders to understand service delivery information and technical knowledge and keep up to date on changes that may impact the training content and training delivery.
- Assist in conducting functional training in accordance with established training structure, when needed
- Establish a knowledge database of work problems encountered and steps for resolution to facilitate continuous learning, development and cross sharing of knowledge throughout Financial Reporting team.
- Support new and existing team members through proper knowledge transfer; and sharing of best practice thereby ensuring quality is maintained through any staff transition
Professional guidance / multiple reporting lines:
- Assist to delegate work and assign tasks to others in team where requested
- Provide guidance and support to the designated Financial Reporting team
- Establishes good interpersonal relationships by helping team members feel valued, appreciated and aware of business performance issues.
- Follow BASF Group guidelines; accounting and reporting guidelines
- Understand and follow local regulation and statutory requirements
Frequent cooperation within BASF Group
- Counterparts and/or relevant stakeholders in BASF companies, internal auditors and the other BSSCKL functional teams
- Specialist, Experts, Team Specialist, Managers, Senior Managers, Accountants and peer team members
- Service Centre management team
- Global/Regional Finance Reporting functional units
Frequent cooperation outside BASF Group
- Work closely with external consultants, auditors etc.
Degree of Supervision Required in the job
- Work with minimal supervision
- University degree in finance and accounting or business studies; and/or
- Chartered or Certified Professional Accountant or equivalent
- Minimum 3 years’ experiences in Financial Reporting or other accounting function. Competent candidates with lesser years of experience are considerable.
- Preferably experience working in SAP system or other major ERP system’s work environment
- Experience in a shared service or business process outsourcing engagement will be an added advantage.
- Experience working in a MNC or Malaysian Public listed company preferred.