Only CA’s with minimum 10 years exp need apply pls
The job holder will be responsible for managing and assisting the HoF in Budgeting, MIS and controlling functions in the Concept. The job holder will be expected to utilize and manage financial resources and systems necessary to deliver Concept operational objectives. The job holder will be 2nd in line to the concept HoF
Budgeting, Cost Control & MIS
• Assist in the formulation of the corporate strategy for the year and finalization of annual targets along with other functional heads to implement the strategic directions
• Coordinate the setting up of the revenue projections based on projected sales for each store in the territory
• Analyse budgets of the Concept and Territory operations monthly, discuss and revise allocations if necessary
• Monitor the income and expenses versus budget, track the variances, recommend corrective actions and follow-up on remedial actions to ensure the adherence to the budget and to support the effective monitoring of performance within the budget for:
o Revenue Productivity
o Gross Margin and Net Margin for the Concept
o Cash flow and NWC Management
• Conduct reviews and evaluations for cost-reduction opportunities
• Deliver set standards of MIS reports for various departments, ensure timely preparation and presentation of periodic MIS and interpret data to suggest ways of cost optimization and store performance improvement
• Ensure thorough checking of the entire MIS prior sending to Corporate office while adhering to agreed timelines
• Exercise necessary budgetary controls on all costs incurred by the Territories, ensuring that they comply with the drawn budgets
• Ensure due compliance in accordance with financial control parameters accountable for Internal Control System
• Evaluate and present feasibility of new projects and assess the financial implications of new or existing stores/ventures
• Monitor Capital Expenditure plans for various territories
Accounting and Audit
• Ensure proper approval, authorization of all payments and ensure accuracy in timelines and accuracy in all payments
• Develop and maintain systems for prompt and accurate collection of financial and accounting information
• Supervise online accounting and ensuring accuracy of all transactions
• Ensure scrutiny and timely payment to all suppliers and supplier accounts reconciliation
• Ensure purchase protection by enabling recoveries from suppliers
• Ensure creditors accounting and the non – group company accounting is taken care of
• Supervise timely and accurate internal audits and finalize Accounts for the Concept
• Review and validate Payroll, Overtime payments and Incentives on time
• Implement controls and procedures for debtors invoices and for monthly cash certificates
• Review and authorise banking transactions
• Review and Authorize Petty cash / Medical / Leave Settlement vouchers
• Review and approve Supplier payments
Miscellaneous
§ Implement improvements in business processes as directed by Head – Finance
§ Represent the Concept in all financial matters with banks, auditors and other relevant parties
§ Train and educate the team members about errors/new developments
§ Ensure that all the Concept assets are safeguarded
§ Monitor Franchise agreements of various brands (if applicable)
§ Monitor and renew Lease Contracts/AMCs/TL/ Insurance (if applicable)
§ Coordinate for Project execution (New Stores / Warehouse) requirements (if applicable)
§ Coordinate with the corporate legal team for any legal matter of the concept
No. of Years of Experience:
Min 10 years of experience
Nature of Experience:
Finance and Operations preferably in a Retail environment with specific exposure to operational financial planning and budget control
Functional Skills:
Accounting theory (e.g., internal controls, financial statement preparation, accrual accounting)
Basic Accounting Tools or Financial tools (e.g. CAPEX)
Knowledge of ERP based Accounting Systems
Knowledge of International Financial Reporting (IFRS Standards)
Financial Budgeting and Forecasting techniques
Business valuation techniques
Commercial and Business Awareness
Logistics knowledge
Qualifications:
Graduate Degree in Commerce
CA