Hwei Fern Chang

Responsibilities

• Manage comprehensive audits, tax compliance, statutory reporting, general ledger and financial reporting systems
• Perform month end closing for group reporting, including OPEX analysis and cost budget tracking
• Led the Shared Services team responsible for processing transactions across three distinct entities within the group, ensuring accuracy, compliance, and timely execution of financial operations
• Oversee accounts payable and receivable, personnel claims management, treasury operations, and fixed asset management, ensuring compliance and optimizing financial processes
• Process intercompany transactions according to established transfer pricing policies and performing intercompany reconciliations
• Review and maintain GST filings and manage compliance documentation with the Major Exporter Scheme (MES) requirements
• Coordinate and review Corporate Income Tax submissions and queries including submission for enhanced Research & Development claims
• Spearhead improvement projects to enhance company-wide workflow, internal controls and compliance
• Manage a remote shared services team of five and a local finance team of three

Key Contributions and Achievements:

• Streamline internal controls and operational processes using Power Automate and ApprovalMax, aligning with corporate policies and enhancing efficiency
• Coordinate with IT to optimize ERP (SAP S4 Hana) functionality, improving system responsiveness and user experience
• Implemented improved systems for claims processing and automated dispatching of payment advice, significantly improving operational efficiency and reducing errors
• Designed and implemented a new e-invoice filing system and approval workflows for journal entries, ensuring completeness and accuracy
• Developed new templates for cash and balance sheet forecasting, adopted group-wide to enhance financial accuracy and management
• Successfully renewed the Major Exporter Scheme for five years, improving cash flow management through the scheme after completion of the ASK audit
• Introduced a bi-weekly tracking system for accounts receivable and a comprehensive credit control process, improving days sales outstanding (DSO) and reducing credit risk

Responsibilities

• Engaged with key partners (landlords, merchants, banks, suppliers) to explore growth opportunities, expand market share, and negotiate contract renewals in line with corporate risk strategies
• Conducted feasibility analyses for new partnerships and investments while reviewing the profitability of existing ones to optimize financial outcomes
• Assisted with feasibility studies for new franchises, monitored franchisee profitability, and managed KPIs, including overseeing collections and leading the termination of underperforming franchises
• Recommended and implemented cost-cutting measures and profitability enhancement actions across projects
• Led significant workflow improvements and product costing projects, ensuring operational efficiency and maintained gross margins
• Continue to lead a finance team of three while overseeing the broader support office team of seven. Supervised support office functions across Marketing, HR, Purchasing, and Finance, handling staff management duties such as attendance and leave

Key Contributions and Achievements

• Spearheaded the digitalization of the membership program from inception to go-live, establishing a robust platform for targeted marketing that significantly boosted revenue
• Introduced robotic service staff to enhance work efficiency and reduce manpower costs, reallocating resources to product innovation and customer service improvement
• Implemented Power BI to analyse and optimize product mix performance, significantly impacting profitability by identifying and promoting high-margin products
• Developed a staff upselling tracking system linked to commissions, motivating staff to promote targeted products, thereby enhancing gross margins
• Initiated and successfully set up the first cloud kitchen for the group during COVID-19, sustaining company operations through the lockdown period
• Conducted a pivotal cost-benefit analysis leading to the strategic closure of the unprofitable Raffles City outlet
• Supported due diligence and facilitated the smooth integration of Singapore finance operations for the Marche International A.G Acquisition, including rapid adoption of new reporting systems within three months
• Consistently exceeded budgeted financial targets for five consecutive years, demonstrating exceptional financial management and strategic foresight

Responsibilities

• Ensure timely and accurate preparation of monthly, quarterly, and annual financial reports.
• Lead for external audits and statutory tax compliance, covering corporate tax, withholding tax, and GST
• Prepare financial decks for weekly gross profit and monthly net profit reviews, comparing actual vs forecast vs budget performance, highlighting key variances, and providing actionable insights to stakeholders
• Oversaw daily financial operations across five outlets, ensuring operational efficiency and financial accuracy
• Conduct internal audits on store operations to ensure compliance with corporate policies and uphold high standards in hygiene, operations, and financial controls
• Spearheaded annual budgeting process and quarterly forecasting process, ensuring alignment with strategic goals and facilitating smoother departmental operations
• Engaged extensively with external stakeholders including auditors, banks, landlords, and suppliers to strengthen business relations and operational terms
• Negotiated contracts, pricing policies, and facility lines, enhancing financial terms and cash flow management
• Led a finance team of three, fostering a collaborative environment focused on cost reduction and process optimization

Key Contributions and Achievements

• Rapidly recovered SGD 60k in overpaid withholding taxes from IRAS within the first three months of tenure
• Developed a new budgeting and forecasting template that significantly reduced preparation time from three months to one month, enhancing accuracy and accountability
• Developed and implemented analytical tools and predictive techniques for budgeting and forecasting, improving financial foresight and decision-making
• Successfully implemented precise costing system for food and beverage operations, directly improving profit margins and pricing strategies
• Instituted robust internal control procedures that curbed inventory mishandling and theft, significantly reducing operational losses
• Formulated and executed comprehensive finance and accounting strategies to enhance organizational financial health
• Redesigned management reports to improve business process efficiency and data visualization for strategic analysis
• Streamlined month-end close process, reducing time spent on manual tasks and improving data accuracy
• Played a pivotal role in transforming the company from a loss-making entity to profitability within two years

Responsibilities

• Led budgeting and forecasting initiatives for the APAC IC product line, aligning financial planning with corporate goals and market dynamics
• Collaborated with the Commercial Excellence team to improve product hierarchy for the industrial chemicals segment, supporting better decision-making through enhanced dashboards and analysis
• Generated APAC consolidated critical reports for strategic analysis and management decision-making, ensuring data accuracy and integrity in collaboration with IT for ongoing system improvements

Key Contributions and Achievements

• Developed and implemented data-driven analytics tools to identify performance gaps and growth opportunities within the APAC IC sector, initiating commercial analysis that enhanced strategic business insights
• Supported the standardization of reporting mechanisms within the ERP system, enabling accurate tracking of business health and facilitating streamlined reporting
• Provided design support for complex IT and business intelligence solutions, enhancing analytical capabilities and business process efficiency

Responsibilities

• Managed comprehensive budgeting, forecasting, and financial planning aligned with corporate strategies, including the integration of systems post-acquisition
• Oversaw daily financial operations, ensuring accuracy and compliance in reporting, and enhanced management decision-making through financial templates and quarterly presentation decks
• Managed cash flows and foreign exchange exposure within the established control matrices, promoting stringent financial governance and operational efficiency
• Serve as the key point of contact for treasury-related matters, coordinating with financial institutions on liquidity requirements and FX hedging, and with Group Treasury on alignment and reporting
• Performed credit evaluations on new and existing customers to manage credit risk, ensuring alignment with company policies
• Coordinated audits and updated compliance procedures, ensuring alignment with statutory and corporate standards

Key Contributions and Achievements

• Improved working capital efficiency and credit risk management by overseeing trade receivables, initiating credit reviews, and monitoring debts
• Mitigated financial risks through strategic foreign exchange hedging and management of insurance policies, while optimizing banking and FOREX relationships to support financial structuring
• Key contributor in adopting new reporting requirements and systems post-acquisition, meeting all transition deadlines and ensuring reporting continuity

Responsibilities

• Oversaw performance metrics and operational standards across subsidiaries in Hong Kong, South Korea, and Vietnam, ensuring alignment with corporate objectives and regional compliance
• Prepared and managed financial budgets and forecasts, aligning with the company’s strategic financial goals
• Enhanced strategic decision-making by collecting, sanitizing, and analysing financial data, ensuring accuracy and reliability
• Conducted in-depth historical trend analysis and comparative studies against industry benchmarks to identify financial performance gaps and opportunities
• Evaluated market trends to pinpoint new business opportunities, performing cost-benefit analyses based on current forecasts
• Ensured data integrity through meticulous reconciliation, supporting accurate financial reporting

Key Contributions and Achievements

• Automated financial reporting processes, significantly boosting productivity and ensuring consistent data coherence across departments
• Facilitated Brenntag AG’s acquisition of TAT Group by organizing critical data and conducting due diligence, contributing to the successful transaction