Provide inputs to the DIRECTOR FINANCE to develop the financial strategy, goals and targets for respective projects in line with the corporate financial philosophy and strategy
Assist the DIRECTOR FINANCE in development of SOPs for the Finance function and review delegation of financial authority across all divisions/functions to assess and mitigate any associated risks/irregularities
Keep up-to-date with latest financial laws (Corporate law, taxation policies, etc), and their implications for the organization as a whole and respective projects, to ensure that the benefit of the law is optimized within the existing legal framework
Provide strategic analysis and advice the DIRECTOR FINANCE, respective Projects Head and Senior Management on various financial processes for respective projects/ SPVs (such as financial planning, cash flow situation, budget optimization, etc.) Operational
Internal Control and Corporate Governance
Monitor compliance with set accounting and reporting standards as well as internal control systems defined by the DIRECTOR FINANCE to ensure timeliness and accuracy of accounting for respective projects/ SPVs
Drive Corporate Governance norms and ensure transparency in all processes including proper documentation and recording of various financial transactions.
Ensure adherence to statutory compliances as well as proper and up-to-date documentation of all books of accounts, reports, lease and revenue contracts, etc. for respective projects
Budget
Assisting Finance team in collation, compilation and preparation of both Capital and Operational expenditure.
Provide inputs to the DIRECTOR FINANCE, along with respective Project Finance Controller to develop and finalize annual budgets for respective projects based on agreed corporate budgeting strategy and respective project plans
Responsible for regular review and monitor of respective SPV/ Project’s performance based on MIS compiled and analyze variances, if any, as compared to budgets
Seek inputs for variance from Projects Head/ Project Finance Coordinators/ respective
Departmental Heads and take necessary action including escalating the same to DIRECTOR FINANCE if required
Maintaining Books of Accounts
Responsible for the compilation, consolidation, preparation and approval of financial statements for respective SPVs/ Projects
Conduct general ledger scrutiny for respective projects to ensure complete & accurate recording of all business transactions ( timely and correct accounting of expense provisions, prepaid expenses, depreciation of fixed assets, etc.)
Review the consolidated books of account (Trail Balance, Profit & Loss statement, Balance Sheet, Annexure to the Balance Sheet and Notes to Accounts ) for respective SPVs/ projects and forward the same to DIRECTOR FINANCE for review
Coordinating with Legal & CS team for various compliances pertaining to Board Meetings , Audit Committee , SEBI etc.
Providing various data / info to IR / MIS team.
Accounts Payable
Address any escalation/ issue as notified by the functional team/ site team or senior management pertaining to payment of vendor/ contractor/ architect bills for respective projects
Verify all necessary documents are attached (copy of contracts/ purchase order/ work order, drawings, measurement sheets, delivery challans, etc.) and approvals are correct and complete before instructing the team for processing of bills of contractors/ architects/ service providers for respective project
Identify, apportion and account for the common costs of the company to the concerned projects (Salaries of HOD and departmental staff, Administration expenses, Legal expenses, Information technology costs, Branding and corporate communication costs)
Define guidelines and ensure adherence for proper appropriation of direct overhead costs for respective projects such as (accounting for site related costs (preliminary development expenses, cost of spares, cost for site administration expenses, cost for property tax, etc.)
Ensure all vendor bills/ invoices are cleared as per defined timelines
Taxation
Develop checklists/ formats for complying with the tax audit requirement and ensure compliance with tax authority regulations and laws for all functional operations pertaining to respective projects
Ensure compliance with all tax audit regulations and timely processing and submission of tax returns / challans under various statutes for respective projects
Undertake periodic Tax Planning exercises and carry out timely and comprehensive analysis of any changes in the tax framework (in consultation with Tax advisor, legal team, etc.) to ensure tax optimization for respective projects
Risk & Insurance
Provide inputs to the DIRECTOR FINANCE for designing and ensure adherence to the Corporate insurance guidelines to ensure adequate and cost effective insurance against risks for respective projects
Review the potential risk exposure for the respective projects/ SPVs and manage the same by designing and implementing specific policies and procedures (disclaimer clauses, limiting liabilities/ risks due to negligence, natural and unforeseen events, policy renewals, etc.)
Ensure comprehensive and timely insurance cover (equipment, fixed assets, workers compensation, property insurance, etc.) for respective sites through review of the insurance policy schemes and clauses and finalize the same (based on the budget, project schedule, etc.,) through discussion with the DIRECTOR FINANCE and ensure timely payment of premium and capitalization
Ensure all insurance policies are renewed as per timelines
Audit
Ensure periodic auditing of books of accounts, to ensure accuracy and compliance with internal and external accounting standards
Develop and ensure adherence to the defined Audit Plan for the respective projects/ SPVs
Responsible for coordinating with the external CA firms for statutory and management audits (both internal and external) to monitor the financial health of respective projects/ SPVs
Ensure compliance with all findings/ recommendations from internal/ external audits
Ensure that all audit findings are communicated to the Senior Management in line with the defined reporting norms
MIS/ Reporting
Monitor all functional activities and ensure timely preparation of various reports (daily/ weekly/ monthly/ annual performance review, annual statements (budget vs. actual) for each department, draw down schedule, filing of returns, certificate of debt from CA, etc.) as mandated by the Senior Management and corporate guidelines
Participate in the Finance Project Review Meeting (PRM) on a fortnightly basis and provide status updates on the functional activities for the respective projects
Analyze the requirement for funds/ funds availability in respective group companies based on cash flow statements/ project requirements, etc., and provide inputs to DIRECTOR FINANCE and Senior management on a regular basis
Monitor the budget spending of each department of respective project on a regular basis by analyzing the planned Vs. actual spend and escalating any significant variance to the DIRECTOR FINANCE
Liaison
Develop and leverage relationships with Banks, Financial Institutions, investors, as well as liaise with legislative/ statutory bodies ( service tax, excise, customs duty etc.) for all compliance requirements and to create and maintain cordial relations
Other General Responsibilities
Assist in commercial negotiation with identified vendors/ agencies for various departments along with DIRECTOR FINANCE, respective department Head and Contracts and Procurement team to ensure best financial terms and agreement for respective projects/ SPVs
Oversee the respective projects/ SPVs treasury operations (investment of surplus funds into mutual funds and other short-term investment instruments) to ensure timely availability of funds when needed for the support of the business while at the same time raising equity/ working capital and investing surplus funds
To define and ensure adherence to procedures to be followed to ensure correct & timely bank reconciliation for respective projects
Act as a signing authority for the organization as per the limits defined in the authority matrix
Ensure all books of accounts are maintained for the retail business
Ensure leveraging of information technology for timely and accurate reporting of MIS and other functional operations
Provide support for the implementation of the ERP system by providing functional inputs and ensure adequate training for functional staff to move towards the practice of using ERP for all financial processes
Responsible for ensuring smooth transition of accounting policies and practices form IGAAP to IFRS (International Financial Reporting Standards) as per defined timelines (FY2016)
Financial
Ensure healthy working capital position, optimal cost and utilization of capital for respective projects/ SPVs
Monitor financial performance measures for respective projects against budget, and develop appropriate interventions to balance the budget
Responsible for driving organization wide cost savings/ awareness programs to facilitate a cost conscious culture in the organization
Provide inputs on how to control expenditure and increase financial performance for respective projects by conducting analysis of the expenditures, investments, projections, etc.
People
Play an active role in the recruitment of direct reports within the function as well as ensure retention of critical employees
Ensure timely goal setting, monitoring, review of performance parameters and feedback to team members
Oversee capability building for the team; provide direction, guidance and support to the employees and mentor high-potential subordinates
