Job summary:
The Accounting and Compliance Specialist plays a critical role in ensuring the accuracy, integrity, and compliance of financial reporting and accounting practices. This position is responsible for managing day-to-day accounting operations, maintaining internal controls, ensuring compliance with regulatory standards, and supporting audits and financial reporting requirements. The ideal candidate will have a strong understanding of accounting principles and regulations, excellent analytical skills, and the ability to collaborate across departments to ensure compliance and streamline processes.
Key Responsibilities: Accounting Functions:
Perform general accounting duties, including maintaining accurate general ledger entries, reconciliations, and journal entries.
Prepare, review, and analyze financial statements in accordance with GAAP/IFRS.
Assist in month-end and year-end close processes, ensuring timely and accurate financial reporting.
Manage accounts payable/receivable functions and oversee cash flow management.
Reconcile balance sheet accounts and bank statements regularly to ensure financial accuracy.
Liaise with external auditors and tax authorities as required (e.g. annual or interim audits)
Compliance Functions:
Ensure adherence to all accounting and financial regulations, including tax laws, audit requirements, and reporting standards.
Stay updated on regulatory changes and communicate their impact on financial and operational processes.
Coordinate internal and external audits and ensure all audit findings are addressed promptly.
Assist in developing and maintaining accounting policies, procedures, and internal controls to mitigate risks.
Prepare and submit compliance reports as required by regulatory bodies (e.g., SEC, local authorities).
Prepare tax returns and assist in the filing of local taxes (e.g., income tax, VAT, withholding tax on compensation, expanded withholding tax, etc) in a timely manner.
Monitor and report on compliance-related risks, working closely with legal and financial teams to resolve issues.
Conduct internal audits to ensure compliance with regulations
Cross-Departmental Collaboration:
Work with cross-functional teams (HR, Operations, Sales & Marketing, R&D, etc.) to ensure alignment on financial practices and regulatory requirements.
Provide guidance and training on compliance issues to staff as needed.
Support senior management with financial data, forecasting, and budgeting.
Risk Management:
Identify and mitigate tax and compliance risks.
Develop and implement policies and procedures to minimize risk exposure.
Conduct risk assessments and recommend corrective actions.
Qualifications:
Bachelor's degree in Accounting, Finance, or a related field.
Experience in tax compliance and regulatory compliance in the Philippines is preferred.
Strong knowledge of Philippine tax laws, regulations, and compliance requirements.
Experience with tax planning and strategy development.
Proficiency in accounting software and MS Office Suite.
Excellent analytical, problem-solving, and organizational skills.
Strong attention to detail and accuracy.
Ability to work independently and as part of a team.
Strong communication and interpersonal skills.