Director, Finance

The Agency for Science, Technology and Research (A*STAR) is Singapore's lead public sector R&D agency. Through open innovation, we collaborate with our partners in both the public and private sectors to benefit the economy and society. A*STAR’s research creates economic growth and jobs for Singapore, and enhances lives by improving societal outcomes in healthcare, urban living, and sustainability. A*STAR is recognised by many accountancy organisations: Accredited Training Organisation (ATO) for the Institute of Singapore Chartered Accountants (ISCA), a Recognised Employer Partner with CPA Australia and others. It reaffirms our commitment to excellence in professional development, and to fostering the growth of our employees in the field of Finance and Accounting.

The Director Finance will be responsible for overseeing all strategic and operational aspects of the Finance Division (Statutory Board and A*ccelerate) in A*STAR.
Strategic Planning

1. Work with the Chief Financial Officer and other Directors of Finance to review and enhance financial policies.
2. Monitor the implementation of strategic business plans and ensure compliance with financial policies.
3. Act as effective business partners to management and stakeholders (i.e. Councils, HQ Divisions and National Metrology Centre) in providing financial insights/advice to achieve business objectives.
4. Assess financial sustainability of the 5-year ARES research budget, including early alerts to management on potential areas of concerns.
5. Provide leadership in directing the section’s efforts to strategically incorporate technology to enhance operational efficiency and raise finance staff productivity.

Operations

1. Work with management to optimise resource allocation and utilisation for A*STAR’s annual RDF cash budget (A*STAR as grantor), A*STAR’s 5-year RIE budget awarded/committed and cash disbursed (A*STAR as grantor), and ARES’s annual research budget.
2. Maintain oversight on finance reporting and operations at A*STAR Statutory Board (includes grants managed by A*STAR as the Implementing Agency) and A*ccelerate.
3. Oversee A*STAR Statutory Board’s transaction processing systems and set in place a system to ensure that vendor payments are tracked and fulfilled expediently to meet Whole-of-Government’s targets for prompt payments and faster payments.
4. Ensure accurate and timely reporting and returns to MTI, MOF, NRF and AGD and meet MTI’s specified utilisation rate of annual RDF cash budget.
5. Develop effective grants management systems within A*STAR to ensure close oversight, tracking and compliance of the following:
1. Grantees’ FRs and FSOAs submissions, grantees’ clarifications of FRs and FSOAs, grantees’ grant audits;
2. A*STAR grantor’s FRs and FSOAs submissions to ultimate grantors, A*STAR grantor’s clarifications of FRs and FSOAs to ultimate grantors and A*STAR grantor’s entity level audit;
3. Funding initiatives’ commitment and cashflow deadlines.
6. Maintain oversight on key operational issues, particularly in the implementation of new Funding Initiatives with unique requirements.
7. Manage cash liquidity for RDF, especially close to the financial year end when the annual RDF cash budget is running low. Work with MTI and stakeholders (i.e. Councils and Divisions) on ways to address annual RDF cash budget shortfalls, where applicable.
8. Monitoring RDF Trust Fund balance and projecting the balance at financial year end, with early alert to management on potential areas of concerns.
9. Tracking ARES overheads receipts and usage, and giving regular updates to management with explanations for key variances.
10. Implement finance-related operational best practices through the review and alignment of current processes to enhance efficiency, including the alignment of accounting practices and processes across different entities.
11. Leverage and incorporate technology in the delivery of quality financial services to users.
12. Evaluate and enhance team structure to ensure that the division operates at optimal capacity through e.g. improving job fit of current staff.
13. Achieve corporate KPIs as mapped out in Finance’s workplan, where applicable.

Financial Reporting

1. Direct and oversee the issuance of accurate and timely financial information to stakeholders (i.e. Councils and Divisions).
2. Develop systems to perform accurate analysis of budgeting, utilisation trends and variances.
3. Report original and revised budgets for A*STAR Statutory Board and ARES to A*STAR Board-Exco and A*STAR Board.
4. Report mid-year and year-end financial results to management, A*STAR and Accelerate Audit Committees and the Boards.
5. Report RIE2025 5-year budget awarded/committed and cash disbursed to A*STAR Board-Exco and A*STAR Board.
6. Report to A*STAR Board-Exco on i) Retained Earnings of A*STAR Statutory Board and ARES annually and whenever there is request for usage of Retained Earnings, as well as ii) re-allocation of ARES’ annual research budget.

Risk Management

1. Understand and mitigate key elements of the organisation’s financial risk profile.
2. Ensure financial, legal and regulatory compliance to governmental and audit guidelines, strong corporate governance, proper accounting and use of public resources to enhance public accountability.
3. Maintain relations with external auditors, AGO, internal auditors, etc and address their findings and incorporate their recommendations whenever possible.

People Development

1. Groom high performance officers to strengthen the talent pipeline for key finance positions.
2. Plan the training and development opportunities for staff to expand both their capacity and capability.

MISSION
We advance science and develop innovative technology to further economic growth and improve lives. The Agency for Science, Technology and Research (A*STAR) drives mission-oriented research that advances scientific discovery and technological innovation. We play a key role in nurturing and developing talent and leaders for our Research Institutes, the wider research community, and industry. Our research creates economic growth and jobs for Singapore. As a Science and Technology Organisation, we bridge the gap between academia and industry in terms of research and development. In these endeavours, we seek to integrate the relevant capabilities of our research institutes and collaborate with the wider research community as well as other public sector agencies towards meaningful and impactful outcomes. Together with the other public sector entities, we develop industry sectors by:

1. integrating our capabilities to create impact with Multi-National Corporations and Globally Competitive Companies;
2. partnering Local Enterprises for productivity and gearing them for growth;
3. nurturing R&D-driven Start-ups by seeding for surprises and shaping for success.

Our research, in addition, also contributes to societal benefits such as improving outcomes in healthcare, urban living, and sustainability. These serve to enhance lives in Singapore and beyond.

VISION
A global leader in science, technology and open innovation. The Agency for Science, Technology and Research (A*STAR) is a catalyst, enabler and convenor of significant research initiatives among the research community in Singapore and beyond. Through open innovation, we collaborate with our partners in both the public and private sectors, and bring science and technology to benefit the economy and society.