During my time in the Isle of Man I was given the privilege of a global view of the company (having assets on four continents and a fair value in excess of $3 billion) while actively participating at subsidiary board level. I took responsibility for an office operating budget of £4 million and coordinated activities between accounting, finance, treasury and company administration. My role requires close working relationships with Corporate Finance and interaction with regional offices. I held numerous subsidiary directorships within the group.
Main accountabilities include:
Group Financial Reporting: To ensure that complete and accurate information is provided for group reporting purposes in conformity with the quality and time standards set by the Chief Accounting Officer.
Statutory Financial Reporting: To ensure that statutory financial reporting is done in line with legal requirements and within legal time limits and the requirements of the business.
Budget preparation: To ensure that complete and accurate information is provided for group budgeting purposes in conformity with the quality and time standards set by the Senior Financial Manager: Business Planning; to prepare an annual office budget and to ensure that budget allocations are not exceeded; where budget allocations are exceeded, approval from the Managing Director or board of directors are obtained.
Internal Control Environment: To ensure that high ethical standards are entrenched throughout the business unit; to implement and monitor compliance to internal controls (including compliance with Sarbanes-Oxley requirements) in cooperation with internal and external audit.
Tax compliance: To ensure full compliance with tax requirements in the various jurisdictions the business unit operates; to procure the advice from the Vice President: Taxation for any transactions with a potential tax implication for the group; to remain alert for any changes in the global tax environment (with specific focus on offshore tax jurisdictions) that may impact on the tax strategy of the group; to coordinate any tax planning strategies with the Vice President: Taxation.
Information Technology: To ensure a stable and efficient IT environment through services provided by the IT Service Delivery Manager and external service provider; to ensure the IT environment is managed in compliance with policies set out by the IT Service Delivery Manager.
Disaster Recovery: To ensure a response plan is documented and tested in the event of damage to the business infrastructure (including the IT environment).
Treasury: To oversee controls over all treasury functions and prescribe any corrective action that may need to be taken; to oversee the processes over the safeguarding of cash funds and borrowing facilities; to seek continuous improvement and potential redesign of treasury functions through coordination with the Finance Manager: Treasury and Corporate Treasury Manager.
Company Administration: To ensure that all decisions taken by the company are in conformity with delegated powers and authorities; to put processes in place to ensure the management of the company are done in accordance with legal and regulatory frameworks and in support of the group values.
Office Management: To ensure, through coordination with the Managing Director, that all employees have a safe working environment and that those employees have access to the necessary resources in fulfilling their duties.
Risk Management: To maintain the formal risk management requirements in line with the guidelines set out by the Vice President: Risk Management; to ensure risks are identified and monitored and mitigating controls put in place to minimise those risks; to report to the audit committee and board on the risk management activities.
Defined benefit pension scheme: To serve as a trustee of the Ashanti Goldfields (UK) Pension Scheme; to ensure that the pension scheme is managed with the highest ethical values and to the best benefit of the pensioners; to remain alert for changes in the pension fund environment and advise the trustees of the possible impact of changes and to procure further advice where required.
Intergroup Funding: To oversee the treasury process for managing funding to operations (both operating and exploration entities).
Board involvement: To actively participate in board and subcommittee discussions; to facilitate accurate and transparent information to support the board in their deliberations; to coordinate the execution of all board decisions.