1
To co-ordinate and develop the strategic and annual plans for the Unit for maximization of the business profits.
Preparation of systematic and reliable MIS.
Analysis of realization, cost &Capex.
Assist in finalization of the strategic plan.
Monitor the implementation effectiveness by periodic reviews.
2
To oversee the IT function and ensure development of the IT system to meet the business as ofpresent and future needs
Direct the IT team for development of annual plan for new development / modification of the software.
Discussion with Business IT for best available IT technologies and its cost benefit analysis
Upkeep / replace of IT infrastructure.
Implementation of IT security .
3
To develop a strong, responsive & empowered team and vibrant working environment which can provide opportunity to contribute an atmosphere of teamwork, trust through inspirational leadership.
Identify the skill gaps of the employees
Make training plan for address the skill gaps
Counseling with the employees and delegation to employees as the case warrants.
Job rotation plan for having multi skilled employees.
Implement the vibes action plan
Have recognition and reward system in F&C Function in line with Unit / business policy.
4
Ensures preparation of the budget for effective and planned development of the business.
Formulates system for timely data collection from all the departments.
Ensure key parameters, opex assumptions & Working Capital norms for planning & coordinating are correctly captured.
Reviews the budgetary proposals with the concerned Departmental Heads/Functional Heads.
Submits the budget to Unit Head/Business Head for approval.
Formulates system to highlight exceptions for effective control.
Initiates suitable remedial measures and submits the status report to the Unit Head.
5
To ensure optimal Working Capital management to minimize the interest cost.
Plans working capital requirements.
Co-ordinates with Marketing dept timely reviews and collection of accounts receivable from customers.
Interacts with major suppliers for rescheduling accounts payable.
Plans and ensures that there are no unutilized funds in bank.
Ensures timely liquidation of stocks (incl scrap) by follow-up with Marketing Department.
Liaison with bankers.
6
Plan & direct for availability of the material and review all commercial activities related to Opex and Capex.
Plan Raw Material and other materials requirements.
Negotiate cost effective contracts and have long term contracts.
Follow up and monitor timely deliveries for critical matters.
Develop alternate source/ vendor ( mainly Rock Phosphate , Salt , critical chemicals & spares) .
7
To ensure internal controls are in place in the area of F& C function to optimize cost of operation & reduction of inefficiency / revenue leakage.
Development and implementation of work procedures and SOPs.
Establish exception criteria and have a system of periodic exceptional reporting.
Implementation of concepts like JIT and periodic inventory monitoring.
Implementation of vendor inventory concept.
Institute system for regular reviews in F&C Areas i.e. vendor assessment, annual contract, perpetual inventory verification.
Critical analysis of all cost heads on monthly basis.
Discussion of variance with peer group and reporting abnormality of variance to Unit Head.
8
Responsible for adherence of all applicable statutory requirements and appropriately including these in commercial contracts to ensure sustainable business.
Interpretation, review of legal provisions and coordination with Corporate team for changes in law or pending critical legal cases.
Preparation of calendar and Action Plan for various compliances.
Discusses the observations with the Unit Head, Peers Group and auditors.
Communicate amendments / changes to the team to meet the statutory requirements.
Implements corrective actions / improvements as suggested by the Auditors / statutory authorities.
Ensures compliance of all statutory requirements of laws while having contractual obligation.
9
To ensure timely and accurate preparation of Books of Accounts and get the same audited.
Monitor the effective implementation of Accounting principles & guidelines and Accounting Standards.
Review of Audit calendars and its action plan.
Discussion and closure of audit observations with Internal, Cost , Tax , Excise and Statutory Auditors.
Monitor the implementation of necessary changes to meet the statutory / auditors requirements
10
To analyze Business Risks and formulate its mitigate plan so as it impacts on business, employees, customers and other stack holders can be minimized
To organize quarterly business risk review meeting and play lead role in the committee for identification business risks & its mitigation plan.
Follow up the implementation of business risk mitigation plan.
Ensuring financial risks are adequately covered i.e. insurance coverage of the business, coverage of forex.
Time to time evaluation of full insurance coverage of fixed assets, inventories, employees
Coordination with insurance company and ABIBL for early settlement of claims