Chief Finance Officer - BFSI

Job Responsibilities:-

Responsible for leading and directing the Finance function and overseeing the legal function to ensure that all Banking operations are monitored and controlled against budget, organization's business are optimally financed, all financial transactions are treated appropriately, accurate financial information is available to support management decision-making and the bank adheres to all regulatory requirements and legislations.

Leading Authority

1. Co-develop the bank's business strategy in line with the Bank's vision and expectations of the shareholders and ensure their alignment with other interfacing divisional strategies

2. Develop the finance strategy and ensure that related plans are developed, implemented and are aligned with the vision and mission of the Bank

3. Develop and oversee the implementation of division policies, procedures and controls covering all areas of Finance and Legal Divisions so that all relevant procedural/legislative requirements are met with while reporting transactions

4. Drive all aspects related to accounting, finance, forecasting, strategic planning & budgeting within the bank

5. Responsible for raising required capital for the Bank; establish rigorous framework for evaluating capital investment to ensure better capital management

6. Manage risk and identify revenue streams through portfolio sales and securitization

7. Provide support in managing investor relationships through participation in shareholder meetings, press conferences and private meetings

8. Approve arrangements concerning financial obligations

Policy and Processes

9. Set and oversee processes and procedures through membership of various governance committees

10. Develop and deploy finance strategy and drive financial control across all offices, through effective implementation of policies and procedures

11. Develop framework, policies and processes for the finance and accounts department

12. Ensure all accounting activities are performed as per Government, RBI and Ministry of Finance guidelines within the required timelines

13. Provide regular updates to the leadership around the Financial situation in the Bank

14. Ensure adherence to all Finance and Accounts processes

15. Design, manage and monitor reporting systems to all departments and to aid management decision in achievement of stated objectives regarding revenue and profitability

16. Establish the strategy of the treasury function in line with the long term strategy of the bank

17. Support the management in decisions relating to Capital requirements and management, proposing investment strategies, and market research

18. Build and enhance the framework for returns and capital allocation in the planning process

19. Develop the framework for approval and requests for capital and budgeting

20. Determine the company's tax position and the applicability of taxable/non-taxable instruments

Review and finalize the Accounts of the Bank

21. Coordinate, wherever necessary with the business heads, Statutory Auditors, Tax Auditors, Tax Consultants, RBI etc. on accounting matters of the bank

22. Review the prepared financial statements like Balance Sheet, Profit and Loss Accounts, Trial Balances etc. for presentation to the Audit Committee and the Board and ensure compliance with the accounting standards

23. Present the financial statements to the Audit Committee and to the Board after approval from the Audit Committee

24. Provide approval for the audit of NPA accounts at zonal/branch offices and by statutory auditors

25. Ensure Cash Reserve Ratio (CLR ) and Statutory Liquidity Ratio (SLR) are maintained

Monitoring sensitive accounts, Regulatory Compliance & Statutory Reporting

26. Review the report on the inter-branch transactions, sundry deposits, suspense accounts and outstanding entries particularly in sundry and suspense accounts and take corrective action

27. Review and approve the memorandum regarding the status of outstanding entries in these accounts and present to the Internal Audit Committee

28. Review and approve the appointment of statutory auditors/tax auditors/consultants/CAs

29. Oversee all fiscal reporting activities for the Bank including revenue / expense reports, balance sheets reports, reports to funding agencies etc.

30. Advise on financial implications of strategic and operational plans

31. Liaise with financial rating agencies to ensure compliance to stated guidelines; responsible for regulatory reporting to RBI and be able to interpret regulatory circulars/ regulations from RBI to ensure practical application

Taxation

32. Ensure adherence to timelines in filing of returns pertaining to Income tax, Wealth tax, Service tax etc.

33. Represent the bank before the appellate authorities i.e. CIT (Appeals), CCIT etc., with respect to matters under litigation, if required and attend assessment hearings

34. Oversee adherence to tax laws and regulatory guidelines to properly reflect the financial position of the Bank

35. Ensures compliance with all tax reporting requirements including income tax, sales tax and employment taxes

Treasury

36. Review the information gathered on market trends and directions through interactions with the market players

37. Review and finalize the guidelines/norms/procedures for investments in the Primary Market - debt and equity

38. Review the strategies for investment in secondary market based on the risk and return requirements of schemes under management

39. Ensure intelligent investment decisions to obtain offers at best prices; provide guidance to ensure efficient money market operations

40. Ensure greater focus on priority sector lending sales planning

Procurement

41. Oversee operations of the procurement function to ensure that material and service requirements of the bank are met in a timely, efficient, effective and ethical manner

42. Provide oversight of all purchases in compliance with the procurement policies and procedures

43. Manage and review procurement budgets

Legal

44. Supervise and guide the legal function in provision of sound legal advice and recommendations to aid the board, the MD & CEO and the senior management team with the decision making process in order to protect the legal interests of Bank

45. Monitor provision of legal advice on all agreements relating to the business operations to protect the Bank against any legal exposure and minimize liability

46. Oversee the management of various litigation and dispute settlement activities and monitor legal negotiations in order ensure that all legal rights are protected

People

47. Ensure that the employees within the division maintain the highest standards of professional conduct, ethics, integrity, and control in execution of all their daily operations

48. Drive a performance driven culture in the team by timely monitoring, review of performance parameters and feedback to the team members

49. Take overall responsibility for identification of training needs and completion of mandatory training programs/certifications for self and reportees

50. Mentor and coach subordinates to develop the team's capabilities and build a robust succession pipeline

51. Ensure that the all the departments reporting to him/her are adequately staffed as per the manpower requirements

52. Ensure high level of employee engagement and retention of key performers

Qualification: Graduation in Finance or equivalent & PGDM/ MBA