Role Objective
Nexen Power is seeking a Dy. / Manager – Finance & Accounts to lead the accounting and finance activities for the Renewable Energy division. The role will be responsible for end-to-end accounting, financial reporting, project finance support, MIS, compliances, GST, Income tax, Ind AS, GAAP and other accounting related controls on IFC and Risk for an ongoing portfolio of ~600 MW and Nexen Power across Solar, Wind, Hybrid, and BESS projects.
The incumbent will in the interim directly report to the CFO and manage day-to-day accounting operations including billing, revenue recognition, balance sheet closure, project accounting, and financial governance, while leading a team of accountants. The role will also provide exposure to FP&A, and project financial evaluation for renewable energy investments.
Key Responsibilities
A. Accounting & Financial Reporting
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Lead end-to-end accounting for the renewable energy division
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Manage general ledger, accounts payable, accounts receivable, and fixed assets
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Ensure monthly, quarterly, and annual financial closures
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Prepare trial balance, profit & loss, and balance sheet schedules
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Drive balance sheet finalization and audit-ready financials
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Monitor project-wise profitability and cost allocations
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Prepare MIS reports, variance analysis, and management dashboards
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Strengthen accounting controls and SOPs
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Complete Audits and related controls
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Ensure compliance of SOPs for accounts payable
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Generate MIS as per company intervals
B. Renewable Energy Portfolio Accounting
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Manage day-to-day accounting for operational renewable energy portfolio
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Oversee project billing, invoicing, and revenue recognition
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Monitor energy sales accounting for IPP & C&I customers
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Track receivables, collections, and customer reconciliations
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Handle open access billing and energy settlement accounting
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Maintain project-wise books and commercial tracking
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Coordinate with O&M, BD, and commercial teams for billing inputs
C. Project Finance & Financial Planning (FP&A Exposure)
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Support project finance activities for ongoing and upcoming renewable projects
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Track project capex, funding utilization, and cost monitoring
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Assist in financial modelling and project feasibility evaluation
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Support IRR calculations, payback analysis, and investment evaluation
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Work on project-level financial projections and sensitivity analysis
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Coordinate with lenders for project financing documentation
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Monitor drawdowns, debt servicing, and interest capitalization
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Track project financial closures and capitalization
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Support equity and debt structuring for renewable projects
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Assist CFO in budgeting, forecasting, and FP&A activities
D. Statutory Compliance & Audit
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Ensure compliance with GST, TDS, Income Tax, and Companies Act
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Manage statutory audit, internal audit, and tax audit
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Oversee GST returns, reconciliations, and tax filings
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Liaise with auditors, consultants, and advisors
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Ensure proper documentation and audit readiness
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Handle project-specific compliance requirements
E. Treasury & Working Capital Management
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Monitor cash flow for operational and project requirements
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Track receivables and manage working capital
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Coordinate with banks for routine banking and project finance
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Monitor fund utilization and financial discipline
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Support CFO in treasury planning
F. Team Management & Governance
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Lead and supervise team of two accountants
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Allocate work and monitor accounting deliverables
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Review accounting entries and reconciliations
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Ensure accuracy and timeliness of financial data
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Drive process improvements and automation
Key Interfaces
Internal
CFO, Business Development, Projects, Engineering, O&M, Legal, Procurement, Management
External
Auditors, Banks, Financial Institutions, Tax Consultants, Customers, Vendors
Competencies & Skills
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Strong knowledge of end-to-end accounting and balance sheet closure
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Experience in renewable energy / IPP accounting preferred
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Experience in project finance and capex accounting
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Exposure to IRR calculation and financial modelling (preferred)
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Understanding of FP&A and budgeting processes (advantage)
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Strong financial reporting and MIS capability
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Knowledge of revenue recognition for power projects
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Strong reconciliation and audit handling experience
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Team management capability
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High ownership and governance mindset
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Strong Excel and SAP ERP skills
Qualifications & Experience
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Chartered Accountant (CA) preferred / CA Inter / MBA Finance / M.Com
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3 to 8+ years of experience in Finance & Accounts
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Experience in Renewable Energy / IPP / Infrastructure sector preferred
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Experience handling balance sheet closure independently (mandatory)
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Experience in project finance / IRR calculation preferred
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Exposure to FP&A and budgeting will be an added advantage
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Experience managing team preferred
