Accounting Supervisor

BASIC FUNCTION:

The purpose of the role is to provide governance of financial reporting and internal controls for the manufacturing sites and commercial entity in Indonesia. There is a requirement to operate in accordance with Corporate Accounting Policies (US GAAP and IFRS) and local GAAP and maintain proper relations with local external auditors.

This position will also support General Accounting activities for the Indonesian organizations with a dotted reporting line to the General Accounting Regional Process Lead Asia, AfMEI.

RESPONSIBILITIES AND ACCOUNTABILITIES:

Controlling Governance
Accounting and Reporting
1.    Ensure through reporting and governance that financial accounting is in accordance with Corporate Accounting Policies (US GAAP and IFRS), and local GAAP
2.    Review postings and adjustments required for accurate and complete preparation of financial statements in accordance with the Corporate Accounting Policies (US GAAP and IFRS). Following items are not exhaustive, 
•    Review GL and TB noting irregular and/ or material entries prior to SAP closing  
•    Review Manual Journal Entries during the period 
•    Review revenue, cost of sales and margins reports noting if in line with sales volume, selling/ transfer prices and commissions  
•    Analyze cash fixed costs to ensure expenses are consistently recorded. Material fluctuations per line item (vs prior period) are being followed up for clarification  
•    Review the validity and reasonableness of the accruals to capture all operating expenses and capital expenditures incurred in the period 
•    Review long ageing items in the financials to identify the validity of the transactions 
•    Review and analyze inventory valuation, including the ascertainment of cost of inventories and any write-down thereof to net realizable value as per LYB policy  
•    Review Asset Balances list to ensure all assets being accounted for; perform fast calculation on depreciation and compare the book during the period  
•    Review IC recharge & margins to ensure accuracy; Analysis imbalances and coordinate to resolve prior to month-end closing 
•    Examine Rebate accruals if it is sufficient in accordance with relative agreements; Communicate to proper stakeholders and seek for approvals before reimbursement 
•    Review Liabilities Balances list to ensure all liabilities being accounted for timely and accurately. 
•    Take the lead to work with respective area of owner to resolve long ageing items timely to bring the financial information upto date for better reflection of company financial position 

•    Perform review in Ccert to ensure account reconciliation is performed in accordance with relevant LYB Policy 
•    Collaborate with Corporate for 10-Q disclosures and accounting for pensions, executive compensations, ARO, MAM, etc.
3.    Prepare and/or review local GAAP postings and adjustments required for an accurate and complete preparation of the statutory financial statements in accordance with local GAAP in monthly closing
4.    Prepare and maintain annual reconciliation of US GAAP / IFRS / Statutory GAAP differences with detailed supporting 
5.    Prepare statutory financial statements in accordance with local GAAP 
•    Coordinate with other transactional teams, namely, AP, AR, Inventory Accounting, Fixed Asset Accounting and General Accounting and other functions to collect and organize information/ data for annual audit 
•    Review audited financial statements, audit adjustments and management report 
•    Ensure local statutory financial statement (audited report) filing requirements are being met within local deadlines 
•    Lead and support any automation of statutory financial audit initiatives when required
6.    Take ownership of accounting records of legal entities for which this position is responsible
7.    Support the corporate initiative of Environmental, Social and Governance (ESG) Reporting when required.
8.    Perform other ad hoc tasks as assigned

Legal Entity Governance 
9.    Perform legal entities’ Balance Sheet review and Flux analysis (i.e. freight, margin, HQ recharges) 
10.    Facilitate and support other functional departments to fulfill government and other local financial reporting obligations to meet local compliance requirements 
•    Local direct tax requirements (PBT ownership and Tax support) 
•    Local compliance requirements (i.e. payroll, pension, etc.) 
•    Review VAT/ GST returns, Withholding Tax payments for approval
•    Assist in the preparation and the review of CIT returns  
•    Coordinate in information collection and data analysis and assist in the preparation of transfer pricing studies when required
•    Prepare and submit government reporting (Investment Activity Report/Foreign exchange reporting, KPPK etc)
•    Assist HR in reviewing the financials in the actuary reports and assess if sufficient accruals in local book
11.    Prepare cashflow forecast for various stakeholders’ review ensuring sufficient funding for site operations
12.    Advise, monitor and coordinate dividend distributions 
•    Advise Treasury the company Retained Earnings position 
•    Treasury to fix the dividend amount and execute dividends payment 
•    Tax to obtain local tax clearance and withholding payments for dividends  
•    Legal to prepare relevant documents for dividends, i.e. BoD minutes & resolutions, AGM
13.    Facilitate the signoff of Representation Letter – country view
14.    Assist with Local Notary Public for change of Notarial Deed, handle physical filing of notarial deeds and update excel tracking lists for all changes
15.    Provide local support to Asia Legal Team 
•    Communication of AGM plan,  meeting invitations, review Circular resolutions of shareholders and submit final minutes to Asia Legal Team
•    Communication to Asia Legal Team on the Change of Notarial Deed , review circular resolutions of shareholders, organizing external Deed translation and submit to Asia Legal Team 

Internal Controls
16.    Ensure through oversight that adequate preventative and detective controls exist and operate effectively as designed. Ownership of internal control as designed at country/region level.
17.    Oversee the clearing of any audit or controls findings by coordinating with other Finance functions as applicable
18.    Work with internal control team to drive for improvement in corporate governance measures
19.    Observe and address any non-compliance of DoA policy for rectification during finance operations to ensure proper compliance of company DoA policy 

Collaborations
20.     Business (manufacturing, commercial and other functions) go-to person to provide advice and support to site management for any initiatives which have financial impact 
21.    Partner with the other accounting transactional teams to ensure accounting records are accurate and complete 
22.    Provide accounting guidance, advice and approvals to FS&T teams, as necessary
23.    Provide input and support for SAP enhancements and projects relating to RTR; lead implementation when required
24.    Liaise with the external auditor and other external third parties with reference to audits and other procedures to be performed
25.    Assist FP&A and Business Services in compiling annual fixed cost budget and subsequent FCR (Actual vs Budget) and cost controls
26.    Work with ESG team to support the corporate ESG reporting initiatives when required 

General Accounting

1.    Bring suggestions forward to the General Accounting Regional Process Lead, Asia & AfMEI for appropriate   process performance metrics and indicators.  
2.    Provide support to the General Accounting Regional Process Lead, Asia & AfMEI for tracking implemented performance indicators and metrics and explaining trends in performance. 
3.    Flexible attitude towards availability and support of broader initiatives across FS&T (as applicable and approved by Management team)
4.    Understand and take appropriate actions to continuously meet expectations and actively seek opportunities to exceed expectations of customers and governance functions in providing accounting services
5.    Continue to seek and provide suggestions for process improvement initiatives. Support and implement process improvement initiatives approved by process owner
6.    Perform SOX controls and maintain evidence of control for area of responsibility
7.    Implement and maintain desktop procedures for area of responsibility
8.    Perform other ad hoc tasks as assigned

PERSON SPECIFICATION:

Education:
•    University degree in accounting, finance or related discipline 

Licenses & Certifications:
•    Professional qualifications in CPA/CA or its equivalent is desirable

Work Experience: 
•    More than 7 years of relevant work experience  
•    Exposure to technical GAAP knowledge (USGAAP, IFRS and local GAAP) related to a wide variety of topics, with the ability to extract appropriate accounting elements from business deals / contracts. 
•    Experience with Internal Controls and SOX/404 requirements. 
•    Understanding of the business and finance processes within the Petrochemicals business model, highly desirable.  
•    Good interpersonal and communication skills 
•    Good spoken and written business English

Critical Competencies/Behaviors for current role and growth:

•    High integrity and holds oneself to highest standards of ethics and accountability 
•    Hand-on, results-driven leader able to communicate key issues to different spectrum of stakeholders – superior, peers, subordinates across the company 
•    Influence and negotiation skills to get buy-in from other stakeholders e.g. FS&T process leads, Commercial or Manufacturing leaders. 
•    Unquestionable, Impeccable Ethics and Integrity: will not waive from doing the right thing under any circumstances; objective at all times and in all situations, always operates free from bias. 
•    Customer Focus: Is dedicated to meeting the expectations and requirements of internal and external customers; acts with customers in mind; establishes and maintains effective relationships with internal customers and gains their trust and respect. 
•    Process Management :Good at figuring out the processes necessary to get things done; knows how to organize people and activities; understands how to separate and combine tasks into efficient work flow; knows what to measure and how to measure it; can see opportunities for synergy and integration; can simplify complex processes; gets more out of fewer resources. 
•    Drive for Results: Can be counted on to exceed goals successfully; is constantly and consistently one of the top performers; very bottom-line oriented; steadfastly pushes self and others for results. 
•    Problem Solving: Uses rigorous logic and methods to solve difficult problems with effective solutions; probes all fruitful sources for answers; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn’t stop at the first answers. 
•    Building/Leading Effective Teams: creates strong morale and spirit in his/her team; shares wins and successes; fosters open dialogue; Provides challenging and stretching tasks and assignments to his direct reports; holds frequent development discussions; is aware of each direct report’s career goals; constructs compelling development plans and executes them. 
•    Decision Quality: Makes good decisions based upon a mixture of analysis, wisdom, experience, and judgment; most of his/her solutions and suggestions turn out to be correct and accurate when judged over time; sought out by others for advice and solutions. 
•    Strong ability to influence works effectively with various levels within an organization, including senior-level leadership, professionals and staff and quickly build relationships