Manager-Finance

Job Description

Job SummaryTo work in close proximity with the Director Finance and lead and execute the finance activities including proper accounting as per GAAPS, timely and accurate reporting of monthly and annual results as per IFRS guidelines and successful completion of statutory audit, thus ensuring appropriate financial and regulatory health of the business segmentRoles & Responsibilities

• Support the Director Finance in development of the strategy statement, annual operating plan and annual budgets for the respective Business Segment as per the corporate guidelines
• Develop and implement Financial Control strategies, targets and initiatives and ensure existence of a robust framework for internal Financial Control at IFFCO Group
• In close collaboration with Director Finance, assume full ownership of Financial Reporting deliverables for the groups year-end reporting and ensure timely submission of IFFCO?s financial statements to the bank
• Prepare first level Financial Control and accounting Policies and procedures, and ensure effective implementation of accounts and financial control procedures
• Assists in timely and accurate preparation of financial statements in accordance with generally accepted accounting principles (GAAP)
• Discuss with the Business units on the data requirements and format for specific sections of the financial statements and agree on timelines
• Ensure consolidation of financial numbers from the BUs and ensure accurate mapping of numbers to the legal entities for reporting purposes
• Plan and coordinate closure of books and accounts and prepare audited financial statements for all entities within IFFCO as per the IFRS guidelines
• Monitor and control preparation of Statutory Statements at legal entity level
• Ensure month-end closings and subsequent presentation of the financial figures to top management, and investors
• Ensure closure of books of accounts at a BU level and the consequent preparation of financial statements - Balance Sheets, Cash Flow and P&L
• Understand emerging industry practices and latest inclusions around IFRS guidelines
• Modify accounting policy manuals to include any new entries in IFRS, train business units on new inclusions and ensure compliance and adherence to International Financial Reporting Standards
• Anticipate executive management reporting needs, and deliver timely, accurate and insightful management reporting/analysis
• Monitor MIS and Reporting through handling of the entire MIS System monitoring and upkeep and the subsequent regular Management reporting (including monthly profitability reports)
• Handle the maintenance and implementation of MIS and Master Data Management
• Ensure correctness and validity of the financial data in the system. Prepare all supporting information for the annual statutory audit for the assigned Business Segment and liaise with the business units & external auditors as necessary
• Coordinate with all the business units to ensure adherence to audit deadlines and completion of audits well before the year end closing
• Ensure day to day audit checks and track the progress of all the business units? audits on a daily basis
• Achieve closure of deviations/observations and ensure compliance with applicable laws and audit requirements
• Support the Director Finance in identifying and mitigating financial risks associated with proposals for financing business growth and identifying new business opportunities
• Strengthen and improve internal controls, including potential implementation of controls programs, identify process improvements and make recommendations to streamline the financial reporting process.
• Work with the legal team for creation of a robust Contracting process Governance including the review of payment terms and conditions

KPIs

• Timely completion of annual business planning and budget preparation
• On time consolidation of Financial Statements and Annual Report
• % adherence to policies and processes relating to IFRS
• % adherence to timeline for completion of Statutory Audits
• Time taken to achieve closure on audit observations

Work experience requirement7+ years of related experience, preferably in a manufacturing or retail industryQualificationChartered Accountant, a Diploma in IFRS/ACCA, MBA in FinanceCompetenciesOwnership & Result OrientationBusiness AcumenFinancial ReportingFinancial planning and AnalysisFinancial ComplianceForecastingSelf and Team ManagementPlanning & Decision MakingStrategic ThinkingChange Management

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