Chief Financial Officer

[What role is about]
Reporting to our Deputy Chief Executive Officer, you would lead a team to execute both effective and efficient financial operations and management for providing financial insights for NAC's organisational strategies and implement policies and procedures for NAC's finance and accounting activities.

[What you will be working on]

Account Management

In order to ensure proper management of accounts and accurate and timely reporting to the Audit & Risk Committee, NAC Board, MCCY, Parliament and AGD.

• Manage the accounts to ensure timely record of transactions, as well as timely payments to vendors, collection of debts and banking of money.
• Oversee the management of donations received to ensure prompt issuance of tax deductible receipts, timely record of transactions into IRAS system and financial system, as well as proper tracking of spending from donations.
• Manage various bank accounts for various purposes (eg. operating, development, donations)
• Oversee timely reconciliations of bank accounts and prompt actions to clear outstanding recon items.
• Ensure timely submission of financial returns required by various bodies. (eg. GST returns, Annual returns to IRAS)
• Prepare and review Financial Statements and schedules for internal and external audit.
• Prepare and review management reports and analyse variances for reporting to senior management and NAC Board
• Set and review financial policies, procedures and processes, follow-up on audit findings, to improve efficiency and strengthen internal controls.
• Highlight and communicate financial procedures to all staff to ensure compliance.

Strategic budgeting

In order to ensure proper management of the overall budget for NAC and financial accountability is held by institutions/divisions

• Drive NAC’s financial planning to support whole-of-government and NAC’s strategic outcomes.
• Review annual and multi-year budget planning exercises to ensure budget sustainability and alignment with NAC’s strategic outcomes through active engagement of key stakeholders.
• Establish and execute internal and external financial reporting policies by accounting standards and reporting requirements.
• Set direction and drive cyclical review of finance policies, performance measures and operations (e.g. grant management, revenue collection, outsourcing to shared service, asset management) to ensure robustness and relevancy.
• Set direction and drive internal control procedures and systems to ensure compliance, accuracy and efficient processing of transactions.
• Advise, develop and implement costing models in supporting NAC to achieve its objectives, priorities and needs.

Funds Management

In order to meet and maximize returns on investment of funds

• Review mandate and investment strategy.
• Seek Board’s approval for the mandate and investment strategy.
• Manage investment within the limits of the approved mandate and in accordance to the approved investment strategy.
• Update Board on the performance of the investments made.

Cashflow Management

In order to ensure a healthy cashflow is maintained to meet operating and development expenditure

• Oversee timely submission of relevant reports to MCCY (eg. KPI reports, project expenditure and projection statements, project status reports) as part of NAC’s request for monthly operating and development grant release.
• Monitor bank balances, and manage payments and investments to ensure healthy cashflow is maintained.
• Monitor project spending and work with project officers on cashflow projections.

Procurement system

In order to ensure maintenance and compliance of procurement systems and procedures in NAC

• Manage procurement requests to ensure timely processing.
• Set and review procurement policies, procedures and processes, follow-up on audit findings, to improve efficiency and strengthen internal controls.
• Report procurement activities in a financial year once a year to Finance Committee and senior management.
• Report results of data analytics exercise for any procurement irregularities once a year to Finance Committee and senior management.
• Communicate and conduct workshops on procurement procedures to all staff to ensure compliance.

[What we are looking for]

• Degree in Accountancy or its equivalent with CA or CPA qualification. Well-versed in financial accounting and auditing standards.
• At least 15 years of experience in a finance management position and preferably have worked in a public accounting firm, with at least 10 years in a senior managerial capacity.
• Preferably in public sector – eg. need to be familiar with government funding frameworks and budget process
• Strategic thinking, implementation know-how and project management.
• Strong interpersonal, communication and stakeholder management skills. Consultative and engages in open communication.
• Critical thinking, agile and able to respond quickly and sensibly, especially in urgent and fluid situations.
• Experience in internal audit and enterprise risk management preferred, though not mandatory.
• A passion for the arts and a deep understanding of Singapore's cultural landscape will be an advantage.
• Applicants who require work passes need not apply.