Job Description

Financial Controller - VW Brand

Job description:

Purpose of the Position (Short Summary of the Role):

1. The main function of the role is to lead and drive financial KPI of Sales Division of VW brand in India.

2. Single point of contact for brand headquarter FCV team for Sales Controlling.

3. Providing transparency regarding the financial situation of the division/cost centers to Management and Headquarter.

4. Steering and optimize the costs to improve profitability.

5. Long and short term sustainable financial planning and reporting.

6. Review, maintain, monitor and approve product pricing.

7. Identify measures to maximize revenue.

8. Steering dealer programs and schemes.

9. Alignment of financials with all stakeholders in India and AG

Authority:

- Approval on online Shopping Carts for financial and other commitments

- Due Diligence evaluation at the letter of intent and agreement stage.

- Authorization of Forex Advances to employees

- Authorization of bank transactions (bank cheque)

- Approval of product pricing

Skills Required:

- Critical, Technical & Behavioral Skills (As required for the role)

- Finance technical knowledge

- Business acumen and problem solving

- Inter personal and analytical skill

- ERP system (SAP and MS Office)

Key Responsibilities &Tasks:

Description:

1. Steering Brand Performance

1. Financial Planning w.r.t. Planning round, Budget, Forecast related to Sales Division

2. Monthly Reporting to brand headquarter, Skoda MB and local Management for Financial Sales Performance KPI

3. Preparing and steering P&L of VW FBU models

4. Alignment of financials of planning round, budget and forecast with Brand Director including chances and risks for VW brand

5. Evaluation of financial requests from brand VW and initiating appropriate action including facilitating approvals from brand headquarter (FCV)

6. Securing financial approvals from brand headquarter before implementation of actions in India

7. To ensure the legal and tax compliance in all business and financial decisions

8. Participating in monthly business meetings for discussions on tactical, dealer bonus, marketing and structure cost so as to maintain strong budgetary control through approval and review mechanism

9. Preparing, participating and presenting in VW financial review with brand headquarter

10. Ensure internal audit points are cleared and adhered to within brand VW

11. Alignment on financials with brand headquarter (FCV and FCG), Pune and Aurangabad Controlling, Brand teams, Skoda MB

2. Cost Optimization and Control

1. Control and processing of Online Shopping Carts (SC) Approval of requisition based on approved budgets

2. Financial and cost review based on actual / budgets / commitments with Brand Director and head of departments, to identify measure and monitoring of actions to control cost and to improve profitability and liquidity situation

3. Maintaining strong control over budgets of each department

4. Identifying, evaluation and implantation various cost optimization / control / reduction opportunities

5. Continuous process improvements to improve efficiency

6. Initiate and evaluate the cost synergies across departments within brand VW

3. Financial Planning, Budgeting and Management reporting

1. To ensure sustainable long term financial planning (PR) of the division considering key business inputs, Brand and Group presumptions in order to meet strategic business objectives

2. To prepare detailed monthly Budget for the Brand in line with long term financial plan after consultation with Brand Director and head of departments and secure approval from brand headquarter (FCV)

3. To ensure accurate monthly rolling forecast for the Brand considering key inputs, actual results, current business, economic and financial situation.

4. Preparation, analysis and presentation of monthly financial performance, national inventory reports, deviation charts for actual and forecast with detailed explanations.

5. Financial review presentation of Sales Performance of VW Brand to local Management, brands headquarters and for Group board meetings

6. Warranty report analysis and take appropriate pricing actions

7. Compilation and Analysis of Product Profitability for various models and zones / regions across India, analysis of Product Gross Margins and Evaluation of Actual Cost of Goods Sold Vs Standards

8. Budget Vs Last Year Vs Actual Variance Analysis and detailed explanation for variance

4. Product pricing and gross margin analysis

1. Preparing pricing for different models and variants to be introduced in India for VW brand

2. To review and approve product pricing in order to ensure that correct transfer prices are incorporated as per agreed margins and retail prices based on planned market price.

3. Accountability of product price calculation to production Company and product pricing department in India and headquarter

4. Evaluation of pricing proposals from brand VW and suggest best possible way forward based on cost/benefit analysis

5. Maintain monthly pricing of all models and variants to steer wholesale tactical and net pricing strategies

6. Ensure the agreed price steps with local Management and brand headquarter is implemented

7. Approval of product pricing in the relevant IT systems of each model and variant

5. Revenue Maximization

1. Ensure cars are invoiced to the dealers at approved product price

2. Explore potential to improve model mix considering tactical cost so as to maximize the revenue potential and propose appropriate actions to brand teams

3. Explore the potential for price increase considering price index, adjusted price index and tactical level in the market and propose appropriate actions to brand teams

4. Ensure all due recoveries of dealers are tracked and accounted in respective period

6. Reporting

1. Monthly financial and stock reports on to local Management and brand headquarter

2. Monthly reporting of FBU P&L to Central Controlling

3. Preparation and presentation of structure cost, marketing, tactical and dealer bonus in Finance Operating Meeting (FOM) to Brand Director and head of departments

4. Monthly financial support charts related to sales performance to brand headquarter (FCV)

5. Quarterly reports on dealer profitability and presentation to brand headquarter (FCV) on performance of dealer sustenance program

6. Ad hoc reports and analysis as per request from local Management and brand headquarter

7. Analytics and Business Case Evaluation

1. Evaluation of financial due diligence for new dealer partners and providing inputs to the management before appointment of new dealers

2. Financial evaluation of bulk orders based on (sales and production) cost / benefit analysis and risk assessment

3. Financial evaluation of business proposals from VW brand on tactical and dealer bonus

4. Periodical analysis of efficiency of tactical schemes and dealer bonus programs rolled out in the market

5. Financial evaluation of chance plans in terms of volume improvement based on (sales and production) cost / benefit analysis including long term implications in After Sales business

6. Initiate and manage the process change to improve operational efficiency or reduce complexity (example, simplification of dealer claim process)

8. Business Support and cross functional responsibilities

1. Preparation and tracking claims of marketing, tactical and special approved financial supports from Brand Headquarters.

2. Provisions for expenses to accounting department based on actual spends, open financial commitments and inputs from head of departments.

3. Business related information and Input to tax department for transfer pricing study /tax audits and assessments

4. To provide support /timely feedback to business whenever required for queries on tax implications regularity / tax compliance processes.

5. To provide input on financial impact to brand VW due to changes in tax structures impacting product pricing/cost.

6. Dealing with internal / external auditors for yearend closing December and Financial closing in March as per Indian accounting and tax regulations.

7. To provide appropriate input to treasury department for liquidity planning, foreign currency hedging, payment terms, risk management and credit control policies and procedures

8. Ensuring correct representation of tactical and marketing spends on a monthly basis at 6 digit level and coordinating with the brand for approval of actions on a monthly basis.

9. Coordinate and provide inputs for special projects (eg. India 2.0,merger of companies)

9. IT Oriented Topics

1. Implementation / maintaining / monitoring changes into financial systems.

2. Creation and maintenance of project systems and CO module in SAP / KSRM keeping abreast with the changes in business structure and external factors.

3. Evaluation of peripheral systems from a financial perspective to ensure that correct processes are followed, and accounting / audit trail is possible.

4. Support development & end to end process requirement of systems having interface with finance systems

5. Initiate automation and drive RPA within Sales Controlling

Reporting Position: HOD - Sales Controlling

Qualification: CA/ICWA/ MBA

Years of Experience: 8-10 years

Location: Mumbai

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