Position Title - Chief Financial Officer
Division / Department - Finance and Accounts
Location - Bangalore
Reporting to - MD
JOB PURPOSE
- Strategic Financial Planning and growth of the organization.
- Supporting organization for its growth by ensuring efficient sourcing and deployment of funds.
- Jointly responsible for the Top and Bottom line profitability.
- Responsible for setting financial processes and ensuring statutory governance and regulatory Compliance for the organization and maintaining the operations at low cost.
- Being a strategic financial advisor to the MD and the Board.
- Responsible for both business and operations acumen at Bangalore .
PRINCIPAL ACCOUNTABILITIES
(List the responsibilities/duties associated with the job. For each responsibility listed, give the factors on which an individual’s performance is judged).
Accountabilities
- Actively support Managing Director in sourcing, deployment of long term and short term fund requirements
- Identify and assess various debt and equity instruments to ensure funds are raised at minimum cost.
- Coordinate and execute fund raising for strategic transactions centrally.
- Plan, co-ordinate and develop presentation activities for fund raising and developing creditor relationship
- Manage relationships with banks, creditors, investors, analysts & rating agencies
- Support internal Audit Team in assessing process adherence and leakages
- Ensure implementation of an efficient cash management system at all levels to minimize idle money.
Key Performance Indicators :
- Timely availability of funds
- Weighted average cost of capital
Accountabilities
- Develop fiscal policies, processes and systems to ensure fiscal discipline
- Define policies and guidelines for financial reporting, taxation and control keeping in mind Indian accounting standards/requirements
- Establish systems and controls for accounts, audit, financing, treasury, cash flows and financial processes.
- Ensure timely preparation and release of various financial reports by building strong accounting processes.
- Interpret upcoming tax legislations and provisions and analyze implications for the organization and ensure tax efficient ways of dealing with internal and cross boundary transactions
- Develop contract and procurement strategies with internal customers and manage their execution
Key Performance Indicators :
- Timely preparation and release of various financial & reports
- Performance on key metrics around financial health, capital adequacy and capital allocation
- Tax advantages generated for the organization within statutory and legal compliance framework.
Accountabilities
- Establish financial controls and processes and monitor compliance and efficacy
- Develop centralized MIS reporting systems for all financial accounting and audit information
- Develop and monitor budgets and operating plans at the business, region and factory level
- Analyze and interpret operating results to help business heads to take corrective action in the areas of working capital, cost , ROI etc
- Monitor compliance to secretarial, taxation and legal requirements, assess for legal and statutory exposures, take corrective action and ensure 100% compliance
- Ensure regular review of performance contracts with vendors
Key Performance Indicators :
- Integrity of all financial data and reporting.
- % deviation between planned and actual expenditure
- Quality of business decision support
- 100% compliance of statutory and regulatory requirements.
Accountabilities
- Ensure effective management of Stovekraft’s investment portfolio by directing and controlling the operations of the treasury unit
- Identify portfolio diversification opportunities keeping in mind the risk appetite and size of liquid holdings to ensure effective management of foreign exchange and interest rate risks
- Monitor all aspects of fund management and liquidity risk management
Key Performance Indicators :
- Variance between expected and actual rate of return in each of the portfolio options Aggregate ROI
- Liquidity of investments
Accountabilities
- Ensure a low cost operator model
- Minimizing the procurement cost of major capex items
- Minimizing the operating cost of doing business by efficient negotiation on Marking Communications, AMCs, fuel, energy, office space, rentals, purchase of raw materials etc.
- Ensure strategic and tactical alliances with major vendors in India and globally
- Conduct a business case analysis for all capex items, marketing spends, new product launches, etc.,,
Key Performance Indicators :
- Cost of manufacturing a product
- Low production cost
- Manufacturing profitability
Accountabilities
Support the business as a legal expert and Company Secretary cum business advisor and contribute to effective decision making
- Analyze the prospective projects/businesses in light of the legal guidelines, provide comments and suggestions to the CEO and Board with respect to the relevant legal , statutory and secretarial issues and contribute to effective decision making
- Interpret applicable laws, rulings (including precedents) and protect business interests by ensuring minimum legal exposure arising from current and future legislations
- Ensure statutory and secretarial compliance, maintain repositories of all legal documents and facilitate seamless flow of information to Stovekraft Management, including Board reporting.
- Support local business teams to effectively deal with local legal issues, statutory and regulatory approvals, show cause notices and litigation if any
Key Performance Indicator
- Quality of legal inputs to support business growth
- 100% documentation and compliance w.r.t Company Secretary and Legal Matters
- Quality of business support, speedy resolution of local legal issues
Accountabilities
People and Capability Development
- Recruit the right talent and develop them through structured coaching initiatives
- Support and guide focused training, knowledge management initiatives and structured exposure to best practices
- Establish individual performance expectations and regularly review individual performance and recommend appropriate rewards and recognition
- Review performance management, reward and recognition and career & succession planning decisions at an organizational wide level
- Drive organization and culture building initiatives and support cascade of values/ desired behaviors across the organization
Key Performance Indicator
- % vacancies in critical positions
- Succession planning & pipeline for business critical positions
- Engagement Scores
- % Retention
- Branding as “Employer of Choice”
INTERACTIONS
External Interactions
Bankers and Financial Institutions: For managing funding requirements
Tax Consultants: For support and expertise on tax planning and remittance issues
Statutory & Regulatory Authorities: For compliance and certification purposes
Auditors: For coordinating Audits and ensuring compliance requirements are met
Service providers and Vendors: During identification, selection and finalization process and to ensure quality of services, products.
SKILLS & KNOWLEDGE
Educational Qualifications & Relevant Experience
- Chartered Accountant
- 20+ Years of experience in a capital intensive business (extensive experience in fund raising) with 3-5 years of experience as a CFO of a large organization with experience in setting up and scaling financial control systems and processes. Experience in manufacturing home appliances is added advantage . Ability to understand and maintain a business finance specialist perspective is a must .
Technical and Behavioural Skills
- Ability to drive a common vision and culture across the team
- Ability to manage change, effective leadership, communication, interpersonal skills
Please send your resume to shankar@krnassociates.in
