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Head Finance & Accounts at (Mumbai)

Keywords / Skills : CA, CA, Chartered accountant, ICWA, Charted accountant, C.A.

15 - 20 years
Posted: 2019-05-22

Job Description
JOB PURPOSE

To conceive, execute and leverage financial and related strategies that enable business results in accordance with the near-term as well as long term business plans of the organization with the objective of ensuring timely reporting and compliance, managing risks and maximizing returns to the shareholders

JOB OUTLINE

 The jobholder, as Head Finance of the organization, is responsible for overseeing Finance & Accounts and Legal & Secretarial functions for the business. H/she is expected to align these functions to the business of the organization and ensure that the business objectives are met through adequate, timely and quality deployment of funds. The jobholder’s primary focus in on Finance and Accounts and s/he is therefore not expected to be a domain expert in the other functions viz. Legal and Secretarial but must have a good understanding of underlying commercial principles & practices.

 The jobholder is also a key member of the strategic think tank of the organization in all major business decisions (those that have a high impact or are of strategic importance) and is expected to oversee the broad financial strategy of the organization and cost effectiveness of the business decisions. S/he must ensure a healthy top line as well as bottom line for the organization

 S/he is expected to drive the financial planning and budgeting process by developing and deploying a framework across the organization, providing assumptions and guidelines for budget preparation. S/he should evaluate, review and provide recommendations on new projects to facilitate decision making on the basis of financial viability, ROI, capital investments, etc. in order to ensure that the budgeting/planning process is robust.

 S/he should review and stay updated with cash flow information and oversee deployment of surplus funds. Also strategize for long term/working capital funding and identify cost effective sources of funds.

 Lead formulation of taxation policy for MIL, oversee tax planning and ensure structuring for tax advantage considering direct and indirect taxes, GST, deferred taxes, ensure reporting in line with applicable statutes; oversee tax assessment, timely filing of returns, follow up for refunds/rectifications, periodically review the audit points raised.

 S/he should institute and monitor processes for finance and accounting function, review policies that have a financial impact such as those pertaining to procurement, inventory, credit etc. and suggest amendments, facilitate timely statutory audits and oversee timely preparation and finalization of Balance Sheet and P&L statement. Also, oversee timely and accurate completion of internal audits and ensure availability of accounting and statistical data and reports to support decision making.

 Is responsible for ensuring that the Financial MIS is correct and timely and aligned/integrated with the organization’s MIS.

 Within Legal and Secretarial, the jobholder ensures the alignment of the thinking of these functions with the overall business philosophy, vision and values of the organization and in accordance with corporate governance principles of the organization. The jobholder also monitors the actual status of legal actions and statutory compliances, with an objective of trying to reduce the exposure of the organization to potential or actual damages.

 Allocate responsibilities within team, supervise performance, resolve grievances, counsel and mentor team members. Lead the identification of critical positions and ensure succession plans are in place. Ensure the timely completion of performance appraisals with quality review and inputs from in order to increase the capability and morale of the team to deliver goals.

 S/he is expected to build and maintain financial agreements and strategic alliances with regulators and compliance organizations/departments of the central and state government, and other partners, including banks and other financial institutions.

KEY RESPONSIBILITIES

• Part of the strategic think tank of the organization:

 Identify legal and financial impact of business decisions

 Support decision making to sustain healthy top line and bottom line

 Scan market environment and provide inputs on changes in financial modes, accounting standards and practices

• Periodic annual and monthly planning and budgeting for the organization, including evaluating, reviewing and providing recommendations on new projects

• Fund and cash flow management to ensure effective deployment and access to funds in line with company requirement at optimal cost

• Lead formulation of taxation policy and ensure appropriate corrective actions are taken, systems and controls are laid down in order to minimize tax incidence and ensure compliance to all tax laws and statutes

• Oversee the financial and accounting policies and review procedures in order to ensure compliance with finance and accounting standards

• Oversee timely and accurate completion of internal audit and check on review points, make appropriate management responses and institute incorporation of necessary change in finance and accounting practices in line with audit comments, if required in order to ensure successful completion of local, internal and regional statutory audits.

• Ensure alignment of the Legal and Secretarial functions with the overall business philosophy and monitor the actual status of legal actions and statutory compliances

• Participate in negotiation with insurance companies for evaluation based insurances and claims

• People management and development for leadership team & function:

 Ensure overall employee morale is high and a culture of reward and recognition exists

 Lead identification of critical positions and ensure succession plans and in place

 Manage the performance of subordinates and ensure a culture of continuous feedback

• Maintain healthy relationships with government& statutory bodies, industry regulatory bodies, financial and market analysts, banks and statutory auditors and influencing them for the benefit of MIL

• To collaborate with all other functional heads like IT, Purchase, Human Resource, Engineering Services, Unit Heads and Business Development for :

 Meeting Customer needs and requirements

 Meeting Business Excellence requirements

 Driving automation in the department with IT systems build up

• To keep self updated on latest market information on best practices in finance and accounting. To participate in respective forums of bodies like SIAM, CII, Industry Associations etc. for influencing the industry view and building the image of MIL

KEY RESULT AREAS

Budgeting and Planning:

a) Accuracy and timely release of budgets for the organization

b) Minimum deviation from budget

c) Internal MIS reviews to ensure actions

Actual vs. budgeted cost of funds

Tax planning:

a) Quantum of tax saving realized vs. plan

b) Amount of monetary losses due to non-compliance

Audit and reporting:

a) Timeliness of financial reporting

b) No. of Audit Review Points

c) Company rating for financial compliance

d) Timely audit execution

Legal and Secretarial: cases of non-compliance and/or legal action

Insurance: losses on account of non-coverage

People Development:

a) Attrition rates in team

b) Employee engagement scores

JOB INTERFACE/RELATIONSHIPS

 Employees in finance department

 Members of the senior leadership team from all departments

 Unit Heads

 IT

 Purchase

 Human Resource Management

 Government Agencies

 Banks

 Financial Regulatory Bodies

EDUCATION

 B. Com

 CA/MBA Finance

 ICWA (optional)

SPECIFIC SKILLS

 Demonstrated ability to strategize

 Demonstrated ability to communicate and work with senior and junior personnel and act as an internal consultant on finance related issues for various departments

 Demonstrated ability to represent MIL (present the right ‘corporate’ image) in different forums and in dealings with external stakeholders (government, banks)

 Ability to supervise and monitor to ensure statutory compliance

 Ability to manage operation leveraging ERP system

DESIRABLE EXPERIENCE

15 – 20 years of experience in Finance and Accounts. Min 10+ years in manufacturing/engineering company.

We would appreciate to receive from you an updated copy of your resume in word format on our email address: [HIDDEN TEXT] to proceed further.

Kindly mention your current cost to company (CTC) in the resume.



About Company

We introduce ourselves as an Executive Search Management Consultancy company specializing in the field of human resource management with a National and International database of candidates to suit the various requirements in middle and upper management levels for local and overseas assignments.

We specialize in the field of recruiting candidates for cross vertical industry job requirements, ensuring the right qualification, experience & personality required to be in the best position of the company.

In view of our specialization as a Manpower Management Company, we intend to serve and help you to save your time, money and manhours that go into the rigorous recruitment process by shortlisting the right candidate to suit your job requirement. These valuable resources and manhours can be invested for more productive activities of your organization.

Keeping in mind the specific needs of your organization, Mantech Management Consultants undertakes to Screen, Test and Mobilize the right candidate to suit your job requirement in various disciplines.
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