Finance Officer

Company Description

Cathay is a leading premium travel lifestyle brand based in Hong Kong, offering products and services across four lines of business – Premium Travel, Cargo, Low-Cost Travel and Lifestyle. The Cathay Group comprises premium full-service airline Cathay Pacific, cargo business Cathay Cargo, low-cost airline HK Express, express all-cargo carrier Air Hong Kong, and various other subsidiaries.

Cathay Pacific was founded in Hong Kong in 1946. The Group has been deeply committed to its home base, extending to the rest of Greater Bay Area, and making substantial investments to develop Hong Kong as one of the world’s leading international aviation centres.

Role Introduction

To support the Finance Manager and local business units to ensure robust control and compliance of financial operations in addition to conducting accounting and finance activities in line with established company policy and local regulatory requirements.

Key Responsibilities

Compliance – Legal, Taxation, Regulatory Reporting

• Support the Finance Manager/Supervisor to complete accurate and timely filing of tax returns, audits, declarations, applications/renewals of all required licenses and other financial-related matters to local authorities
• Fully comply with all applicable laws and regulations, including maintenance of necessary accounting records as per local requirements
• Prepare declarations and deposits of accounts to banks, Chamber of Commerce and other local bodies as required
• Prepare Value Added Tax, withholding tax, noise, airport and other tax declarations and payments in accordance with local legislation

Control and Risk Assessment

• Ensure the company’s principle accounting policies are followed, such as the Finance Manual (Head Office), Outport Accounting and Internal Control Manual (overseas countries) and Credit Control Policy and Guidelines
• Ensure proper authorisation of contracts and expenditures
• Support regular audits (at least annually) on finance processes to identify any breaches of, or risks to, company policies
• Report any breaches of Company policy

Management and Financial Reporting

• Ensure timely and accurate recordings of revenue, expenses and balance sheet items in the general ledger
• Compile monthly and annual accounting schedules, bank reconciliations and other account reconciliations
• Ensure preparation of cash flow forecast summarising cash movements within the port
• Assist in preparation of budgetary and ad hoc analysis as required

Cost Control

• Assist in preparation of submissions for overhead and route costs budgets and forecasts
• Review actual spend compared to budget and encourage cost savings where appropriate
• Prepare monthly analysis for the Finance Manager/Supervisor as required
• Provide financial analysis to assist business units with local contract negotiations

Credit Control

• Ensure compliance with established credit policy for appointing new agents and work with the sales teams to evaluate potential new agents in line with this policy
• Assist Sales and Finance Managers to obtain necessary security from agents
• Work with the sales teams to stay informed of the financial status of agents to minimise exposure and losses
• Identify any default payments and pursue collection through Billing and Settlement Plan, bank guarantees, collection agents, legal avenues, etc.

Banking and Treasury

• Assist the Finance Manager/Supervisor to oversee the cash management process, including petty cash across local offices and replenishment of funds
• Ensure banking records are kept up-to-date and appropriate bank account reconciliations are performed

Administration and Supplier Management

• Manage and maintain accurate local inventory and asset registers
• Ensure vendor details and delegation of authority list is up-to-date in SAP at all times
• Ensure rates in SAP Flight-to-Settle module are correct and inform Head Office Purchasing department of required changes as necessary
• Handle Finance Purchase Order creation and issue invoices as required
• Process local invoices including Flight-to-Settle invoices
• Monitor rejected payments and provide assistance to local vendors
• Any other reasonable task as required

Business Support and Process Improvement

• Assist the Finance Manager to identify opportunities for process improvement and working efficiency
• Provide Finance-related support to other local departments as required
• Provide support to Regional Finance Office with country-related and local language matters as required

Requirements

Academic Qualifications

• Sound accounting knowledge is required
• A degree in Accounting or a related discipline is an advantage

Knowledge, Skills, Training and Experience

• Experience in the airline industry is an advantage
• Experience in SAP is an advantage
• Sound understanding of local country’s business practices
• A good team player with strong interpersonal skills and can interact with all levels within the organisation and region
• Demonstrable experience in improving current work practices and implementing new ideas
• Strong planning, problem-solving and organisational skills and is able to prioritise and manage multiple tasks and deadlines
• Strong understanding of Cathay Pacific policies and procedures
• Solid written, oral communication, negotiation and presentation skills
• Adapts to and embraces constant change