Job Description

POSITION OBJECTIVE
The job holder will be responsible for Financial Accounting, Budgeting, Banking, Warehouse Coordination, MIS, Legal and IT Operations of the company. The job holder will also be responsible for instituting, directing and controlling the financial policies and activities of the company
DO -- Key Responsibilities
1.
Budgeting and Cost Control
Assist the Chief Executive Officer in the formulation of the corporate strategy for the year and finalization of annual targets along with other functional heads to implement the strategic directions
Formulate financial policies/procedures within the framework of the group policies aimed at achieving the business growth and controls and ensure that the Finance Team follows internal control measures to safeguard financial interests
Participate in the preparation of budgets across all the verticals of the company.
Facilitate the setting up of sales projections and of purchase budgets based on projected sales for each project and each department
Through the team coordinate the operational and seasonal budgets with the various management teams, including financial projections and cash flow statements, and ensure that they are prepared and finalized
Monitor annual purchase budgets as per plan
Review and discuss monthly financial accounts and variances against budget achieving cost control on the controllable expenditures
Ensure that the overall margins to be achieved are as per budgets
Monitor the income and expenses versus budget, track the variances, recommend corrective actions and follow-up on remedial actions to ensure the adherence to the budget and to support the effective monitoring of performance within the budget
Review management analyses from the quarterly data to identify variance from trends and budgets
Ensure delivery of set standards of MIS reports for various departments, ensure periodic MIS generation and interpret data to suggest ways of cost optimization and store performance improvement
Review and provide exceptions, variance, retail productivity, stock, sales, financial and budgetary analyses through MIS reporting
2.
Accounting and Audit
Manage payables and receivables for the Company
Approve, authorize all payments and ensure accuracy in timelines and accuracy in all payments
Set up controls and procedures for debtors invoices and for monthly cash certificates
Develop and maintain systems for prompt and accurate collection of financial and accounting information
Maintain accounting by ensuring expenses are properly accounted for
Ensure thorough checking of the entire MIS prior while adhering to agreed timelines
Ensure generation of monthly and quarterly financial statements - Balance Sheet and P/L statements in compliance with the statutory/regulatory norms
Supervise timely and accurate internal audits and finalize Accounts for the Company
Ensure Compliance to Company policies, practices and accounting standards
Ensure that the annual financial statements of the company are drawn up in time in line with the Corporate guidelines
Set up controls and procedures for debtors invoices and for monthly cash certificates
Supervise on-time preparation of statutory accounts and liaise with external auditors when required
Supervise Banking transactions - daily fund management, liaison with banks for utilization of funds / bank limits, analyze banking facilities
3.
Purchase, Inventory and Project Execution
Ensure proper merchandise management in the business
Ensure optimal / economic stock holding
Negotiate and review arrangements with local purchase suppliers, non trading material suppliers
Supervise, control and authorize all purchases (local+ non Trading)
Review the stocks in line with pre decided norms on terms of stocks levels, stock ageing, and slow moving items, to take timely decisions whenever required
Review new projects - focusing on Break even points / sales break even; main cash flows and P/L accounts
4.
Legal and Insurance Matters
Through the Senior Finance Manager / Finance Manager, ensure safe custody of all company assets
Liaise with Legal department and coordinate with the Corporate legal and local legal offices on legal matters
Ensure timely renewal of Trade Licenses / Lease Agreements / Commercial terms with the different authorities, with PR support
Ensure renewal and registration of Trade Marks
5.
Information Technology
Ensure smooth functioning of operating system, database, application server software and middleware
Avert IT infrastructure problems and resolve issues before they impact business availability
Ensure minimum downtime of critical IT systems
Ensure efficient turn around of IT software and hardware related complaints, queries
Ensure query design, maintenance and management for MIS generation through ERP systems
Oversee implementation of new IT initiatives
C
6.
People Management
Manage the performance of the team - set annual performance goals, monitor performance and provide constructive feedback to improve performance.
Identify their training and development needs and ensure their fulfilment
Develop and mentor subordinates to move to the next higher level of job through career planning
Ensure compliance to Company policies and values
7.
Miscellaneous
Initiate and implement improvements in business processes
Train and educate the team members about errors/new developments
Ensure adequate Company support for new territories
Handle all the general administrative affairs of the Company
Ensure that assets are safeguarded and that transactions are properly authorized, recorded, and reported
Handle franchise agreements with Brand principles (if applicable)
DISPLAY
QUALIFICATION
Basic Qualification / Education / Vocational Training
Graduate Degree in Commerce
Advanced
Qualification / Certification / Specialist Training
CA / CPA / CIMA / ACA / ACS / ACWA / MBA
EXPERIENCE
Minimum Experience
10 - 12 years of experience in Finance and Operations preferably in a Retail environment with specific exposure to evolved strategic financial planning and budget control
Specific / Relevant Experience
2 years of heading an independent Finance / Operations / Commercial function
COMPETECIES
Functional Skills and Capabilities
Accounting theory (e.g., internal controls, financial statement preparation, accrual accounting)
Basic Accounting Tools or Financial tools (e.g. CAPEX)
Knowledge of ERP based Accounting Systems
Knowledge of International Financial Reporting (IFRS Standards)
Financial Budgeting and Forecasting techniques
Business valuation techniques
Analytical ability
Negotiation skills
Corporate Law and Trademark knowledge
Supply Chain Management and Logistics knowledge
Resource Management
Communication skills

Skills Required