Management Accountant

Management Accountant | London

We are Monex, a specialist in commercial foreign exchange. We offer a range of FX services aimed at corporate and institutional clients to manage foreign exchange exposure and international payments. Our team of experts provides personalized and proactive service, helping clients execute thoughtful FX strategies tailored to their specific business needs.

As part of the Monex SAB de CV financial group, we support over 70,200 clients worldwide, offering local expertise in various regions including the UK, Luxembourg, Canada, and Singapore. Our goal is to empower clients to make better-informed business decisions in a fast-moving and volatile market.

Department Overview

Finance departments need to constantly monitor the effectiveness of their activities and respond to any problems identify.

The need for financial departments to constantly adapt to their unique circumstances, which may include taking on additional responsibilities or relinquishing existing ones.

Finance Department Activities

Accounts Payable and Accounts Receivable

Accounts Payable (AP) and Accounts Receivable (AR) are two key functions in financial accounting that manage a company's cash flow.

Accounts Payable (AP) manages the company's outgoing payments, ensuring timely and accurate disbursement to suppliers while optimizing cash flow. It ensures the organization meets its financial obligations efficiently, maintaining strong supplier relationships and leveraging payment terms for financial flexibility.

Accounts Receivable (AR) drives the collection of incoming payments from customers, safeguarding revenue streams and ensuring timely cash inflow. It plays a critical role in managing working capital by enforcing credit policies and accelerating cash conversion, ultimately strengthening the company's liquidity position.

Together, AP and AR are key to balancing financial operations, optimising cash flow, and supporting strategic financial health.

This function requires a strong skill bookkeeping set, because is the most basic financial activity in a company. Before a business owner ever considers hiring a CFO, they bring in a bookkeeper, who tracks all of the transactions in the organization, covering both sales and expenses. As the organization grows, they might hire more specialised payables and receivables clerks, to take over functions such as corresponding with vendors and suppliers, above and beyond recording transactions

Accounting function

The Accounting Department refers to the division in a firm that maintain and record all business transactions accurately and comprehensively in a systematic way so that they can be retrieved and reviewed at any time. Maintain adequate internal controls within the organization to safeguard its valuable resources.

Provide a basis for performance assessment and create accountability across the organization.

Keep track of costs incurred by the company and advise the modification of existing operations to reduce operating costs.

Support senior management in the decision-making process by appropriately presenting the financial data.

Plan based on anticipation of business needs and expected availability of resources.

Financial Reporting function

Financial Reporting is the function that takes raw accounting entries and transforms them into usable and comparable financial statements.

Requiring far more judgment than the bookkeeper’s role, this function involves everything from ruling on how to implement accounting principles to designing financial processes of the organization, selecting accounting systems, liaising with external auditors, and ensuring that there are no gaps or oversights in existing processes. Reporting to the Head Quarter Board meeting presentations.

Tax function

A company is exposed in to two main areas within tax function, namely (i): tax compliance and reporting, and (ii) tax advisory. In both cases, the challenges faced by tax functions can include keeping up with constantly changing tax regulations, managing large volumes of data, integrating tax technology solutions and dealing with complex cross-border transactions.

The connection between the challenges faced by the tax function and its operating model lies in the resource allocation. Often using the financial statements as a basis, along with various other configurations of the information produced by Bookkeeping and Payables/Receivables, the Tax and Compliance function will make sure all of the government forms and filings are sent complete and on-time to the taxman.

A strong Tax and Compliance function will go one step beyond simple compliance, and will find ways to minimize tax, so as to maximize the company’s net income.

Finance business partnering function

Within finance departments, the finance business partner function can be used to emphasise that finance’s role is about contributing to the business rather than pursuing a narrow departmental agenda. Labelling finance as a business partner can help to break down stereotypes of what accountants and the finance department do. The roles are vital providing the support for them to do it, organisations can do more harm than good by generating unfulfilled expectations

Job Overview

To take financial ownership and accountability of the MESA LUX, MonFxPTE, MCI (commencing 1 Jan 25), MESL and MEMSV (up to the establishment of Spanish team).

To become the expert in the financial regulations and process for the assigned region and be the main point of contact.

Key Responsibilities & Accountabilities:

Financial Reporting and Control

-Prepare monthly management accounts

-Ensure the management accounts are compliant with country/regional regulations.

-Work with the Finance team to agree inter-company reconciliations

-Attend a month end meeting and discuss any issues with the monthly management accounts or reconciliations and work with the team to resolve any queries and agree how to close.

-Post and reconcile prepayments and accruals.

-Maintain the fixed asset register.

-Post and reconcile payroll.

-Prepare and send the profit split for the period to relevant members.

-Review the income for the period.

-Prepare monthly reports for the local teams and ad hoc reports as and when required.

-Monitor and reconcile Company credit cards, resolving any discrepancies

-Review the banks accounts reconciliation and investigate discrepancies.

-Prepare year end statutory accounts

-Prepare information for internal and external audits.

-Preparation of bank covenant calculations

-Reconcile and review all banks monthly.

-Investigate and resolve any discrepancies or misallocated costs.

Tax and Compliance

- Prepare or support the Tax team for the tax returns preparation (CT and GST)

-Ensure monthly/ quarterly tax instalments are paid on time.

-Complete reconciliation of tax information

-Ensure tax is processed in line with regional requirement

-Together with the Tax team ensure manuals and procedures are kept up to date with any change in regional requirements or regulations

-Clear controls in place and followed to reduce errors

General

-Lead and support the internal and external audits.

-Project work

-Other tasks as and when required to support the Finance team

- Ensuring and maintaining the standard of all documentation for the department’s systems, controls, policies and processes.

Business Knowledge / Technical Skills:

• Previous experience of working within in a regulated investment firm;
• Some experience working within a similar role within a commercial environment;
• Good demonstrable knowledge of UK/SPN financial Regulations etc.;
• Some awareness of financial regulations, compliance and risk management within assigned country/region;
• Some knowledge of the regulatory environment in which an FX firm operates;
• Able to demonstrate a clear understanding of the purpose of risk management, and compliance within a regulated environment.
• Experience working with assigned country/region.
• Ability to analyze complicated data.
• Experience dealing with both internal and external auditors.

Leadership / Management Skills:

• Leads by example, embodying the culture and values of the Company;
• Cultivate an environment of psychological safety, innovation, creativity and increased productivity;
• Able to anticipate issues and risks and mitigate accordingly;
• Ensuring and maintaining the standard of all documentation for their department’s systems, controls, policies and processes;
• Maintenance of decision making records.

Systems / Knowledge Skills:

• MS Office; Outlook, Word, Excel including V-Lookups, pivot tables, PowerPoint
• Finance – Workday is an advantage
• Databases – FXDB (In House)
• Power BI (Desirable)