I currently hold the position of Vice President of Finance for Barbados and the Eastern Caribbean at Gallagher Insurance Brokers (Barbados) Limited. Arthur J Gallagher is an International Insurance Brokering Company offering services to a number of clients in a wide range of industries. Locations included in my portfolio are Barbados, St.Lucia, St.Vincent, St.Kitts, Grenada, Dominica and Antigua. As the VP of Finance, my responsibilities include managing the above listed companies and reporting directly to the Group Chief Financial Officer. I am responsible for the management of 6 persons (1 Accounts Receivable Officer, 1 Cashier, 4 Finance team members). Major responsibilities include the following:
- Review of the monthly management accounts and overseeing the management of the sub ledger and the general ledgers for Barbados and the Eastern Caribbean
- Interpreting information, analysing and preparing monthly reports for distribution to department heads and other Vice Presidents
- Preparing ad hoc reports for sales teams, managers and senior members within the company
- Managing the audit process for the above mentioned territories including the preparation of the financial statements
- Preparing yearly budgets for the above mentioned territories as well as reporting and explaining variances on a quarterly basis
- Preparing various financial reports for the Board of Directors
- Generating of the monthly payroll for the above mentioned territories and ensuring statutory deductions are accurate
- Ensuring the necessary statutory reporting requirements for all territories both monthly and yearly are completed (PAYE, NIS, Pension, Broker Returns, Reporting to the FSC and Supervisor of Insurance)
- Reviewing and overseeing the management of cash and debt collection to ensure that provision on a monthly basis are below the required levels
- Overseeing the fixed assets on hand and their accuracy
- Reviewing and preparing where necessary various balance sheet and income statement reconciliations including reconciliation of intercompany balances on a monthly basis with the various Gallagher entities globally
- Ensuring the Company is adhering to both the local regulations as well as SOX regulations including the maintenance and updating documentation for the internal controls and compliance with internal audit
- Completion of necessary reporting to the parent Company on revenues, budgets and receivables as well as a ensuring all balance sheet reconciliations are prepared on a monthly basis
- Extensive liaising with outsourcing teams in India related to payroll and balance sheet reconciliation
- Liaising with insurance companies on insurance payments and discrepancies
- Ensuring the payments to insurers are made on time
- Overseeing the payment of general expenses and providing approval where necessary
- Training and coaching staff where necessary
- Taking over the role of the Group CFO in their absence including preparing and reporting any information related to the Caribbean Group Companies
- Involved in the hiring process for staff within the department