Financial Controller (FC), Mumbai (Mira Road)

Talent Leads HR Solutions - Mumbai, Maharashtra (30+ days ago)

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Role Purpose:

Responsible for framing Financing decisions, Investment decisions, effective
Accounting, Audit and Taxation Systems and all important strategic decisions across the organization.
Focused on recording, analyzing, interpreting and reporting operational results internally and to
external stakeholders.

Responsibilities:

Developing Finance Strategy, Budget (AOP)& Policy:
  • Performs annual assessment of current finance Strategy and Processes against objectives set in the previous financial year.
  • Participates in Annual Operating Plan development exercise. Develops/reviews Finance Strategic Plan and Objectives drawing from Annual Operating Plan and discussions with Finance Team.
  • Plans the Finance & Accounts function, including Structure, Roles, Manning, Cost/Performance, and Budgets for the Finance & Accounts Department.
  • Defines policies and procedures for HO, factories, project sites foraccounts and finance team delegation of authorities for approval of bills, cheque signing, withdrawal of cash, daily functioning, employee queries, advance, expense beyond budget, etc.
  • Assesses business model impacts and suggests alternate financing strategies.
• Plans for any development/procurement of systems, monitoring of CAPEX budget and actual procurement of IT assets

Capital Optimizer:
  • Approves liquidity strategy, policies and procedures.
  • Plans and secures the organization’s financing needs and facilitates an optimal supporting capital structure.
  • Evaluates and negotiates with bankers and financial institutions for procuring of funds.
  • Approves the optimal capital requirement and facilities to be availed from the consortium bankers and financial institute.
  • Targets and pursues set business model changes ( e.g. M&A, divestitures, alliances.
Monitor Accounts Payable and Receivable:
  • Ensures that all the commercial functions (Debtor Management, Credit Control, Expense Tracking, etc.) are diligently carried and meet all statutory requirements.
  • Confers with Geography Heads and defines the credit policy for the company with respect to credit limits setup, blocking of debtor accounts, unblocking of debtors, exceptional clauses, etc. and communicate clear guidelines for adherence of the same.
  • Verifies and signs of cheques and letters of RTGS as per delegation of power.
  • Drafts and circulates policies and procedures for project operations: systems (IT),cheque return, discounts, commission, stock audit, entering of order, delegation of authority, raising of invoice, goods return, goods transferred, damage stock, theft, insurance claim , etc.
Controller:
  • Establishes appropriate performance evaluation structure, reporting insightful analysis, and providing advice relevant to the evolving business performance and goals.
  • Perform Budgetary Control by planning the preparation of MIS to monitor AOP: Budget v/s Actual, Variance, Last year Actual v/s Current Year Actual, Variance.
  • Establishes Cost Management Framework for streamlining the Product and Project Costing.
  • Monitors the Actual Costs of Project/Product vs. the Costing Standards laid.
  • Ensures that all accounting and transaction processing activities are performed with efficiency and integrity.
  • Prepares accurate, validated reports to meet statutory and shareholder needs in a timely fashion.
Manage Secretarial
  • Attend and participate in the invited meetings of board and committees
  • Provide inputs with respect to commercial decisions in the above meetings
  • Provide inputs for the preparation of minutes to the Company Secretary
  • Ensure registers required as per company laws are maintained and updated regularly
  • Ensure statutory committees as required by company law – Audit and Remuneration are conducted regularly
  • Review the minutes, resolutions passed in the board, annual or any committee meeting
  • Review the published final accounts and participate in Annual General Meeting
  • Ensure regulatory requirements and registrations related to operations, employees are updated and renewed regularly
Policy Enforcer:
  • Defines, deploying and maintaining policies and procedures.
  • Ensures compliance to controls and standards.
  • Provides opinions to executives and Audit Governance committees.
  • Plans the internal and external audit schedule.
  • Finalizes the accounts and prepare statements as per Schedule VI along with groupings required for balance sheet and profit and loss account.
Risk Manager:
  • Identifies, evaluates and mitigates key risks within operations (risks such as foreign exchange exposures, interest rate exposures, credit risk exposure) to achieve information integrity and minimize business failure.
  • Ensures and approves adequate insurance to mitigate risks.
Assignment

Implement the Governance Structure for the Costing Finance , Accounts, Legal and Secretarial
and Commercial function
Develop and implement standard operating procedures (SOPs), Document Retention Policy,
Control Checklist, across the functions and impart the best practices
Key Performance Indicators
KPI’s Frequency
  • Departmental Cost Actual V/s Budget
  • Net Profit Margin
  • Monthly
  • Quarterly
  • Debt to Equity Ratio( eventually in Phase 2)
  • Cost of Capital
  • Credit rating for the organization in the Banks/FI/ Regulatory Authorities/ Investors (eventually Phase 2)
  • yearly
  • Half Yearly
  • Annual
  • Timely Consolidation of Accounts
  • Delay in deposit /filing of tax (direct & indirect) challan /returns, compliance
  • Number of Statutory Qualifications
  • No of qualifications in Risk compliance
  • Monthly
  • Quarterly
  • Annual