Assistant Finance Manager - Retail Sector/Retail Jewelry Business

We are looking for a problem-solver, accountable, and adaptable candidate with a thorough understanding of finance and accounting.

The primary responsibility will be to manage all daily and/or regular finance operational activities, including but not limited to Finance functions such as Banking operations Fund management, Vendor Payment, Imprest advance and settlement, Revenue Reconciliation, Store Compliances, Inventory Control, US Federal and State Compliances, POS Administrator, Bank/FIT reconciliations, Insurance Coverage, Handling Audit reviews.

Drafting SOPs to streamline the operations.

Being part of the Finance team, handle the routine work given in the job profile efficiently and on time. Co-ordinate with cross functional department to ensure the completion of task on time. Execution of Task independently as per the laid down process. Automation of Current manual process/Activities, to save time and enhance efficiency & accuracy.

Responsibilities

1. Accounts and Finance:

1. Prepare & Ensure all kind of Accounting work including monthly provisions, Revenue, management agent commission are updated.

2. Ensure and check Vendors and Customers accounts are reconciled.

3. Provide daily / monthly / quarterly / annual MIS to HO and ensure all reporting targets are met.

4. Coordinate with HO for finalization of quarterly / annual Trial Balance.

5. Reconcile Inter Company and inter unit balances.

6. Review and ensure corrective action of Internal Audit report in consultation with Business/Finance Head.

7. Working documents of Statutory Audit requirement for Annual Accounts as per local laws and India.

8. Timely settlement of advance to staff and creditors

9. Monitor all cash and banking activities; check and provide Cash Flow statements to Corporate Office on daily basis

10. Provide information and assistance for sanction / renewal of term loan and working capital facilities to Corporate Office.

11. Ensure Compliance with sanction letter for term loan and working capital facilities in consultation with Finance Head and Corporate Office.

12. Coordinate with Corporate Office for funds requirements and remittance as per guidelines of the Central Bank (RBI) in India.

13. Preparation of product wise Cost sheets.

14. Reconciliation of Costing profit/ (loss) with Financial profit/ (loss).

15. Preparation & review of annual budget report (product wise) to top management

16. Working on Major Cost items, Overheads, raw material and packing material

17. Submission of Annual financial budget which includes production, sales, expenses etc. In consultation with Business & Finance team.

2. Commercial & operations:

1. Filing of local statutory returns including sales tax and levies etc. monthly, annually, half yearly, annually as per local Rules and Regulations

2. Adequate insurance of fixed assets and stocks at competitive rate by taking quotes from 3 reputed Insurance Companies and if existing policies are there, then before expiry period renew it based on replacement value system. In case of additional fixed assets during the year and increase in inventory level, value of insurance to be increased.

3. Validation / renewal of taxation licenses, labor licenses, operational licenses etc. prior to expiry.

4. Any other work assign by company and management

5. Updating Policies and processes & taking corrective action wherever required.

3. Stock & Inventory Related:

1. Managing & monitoring Export invoicing process, ensuring hedging for available stock on regular basis.

2. Control the level of inventories within defined limits

3. Ensure Stock and Purchase procedures stipulated are complied with

4. Ensure all incoming materials and outgoing materials are properly accounted on daily basis

RIGHT CANDIDATE

- CA/MBA Graduate with + Minimum of 2-4 years of Finance operations experience in US retail sector/preferably from Retail Jewelry business.

- Good knowledge of accounting practices, US GAAPs, IFRS processing financial transactions and Finance related activities

- Well versed with US State/ Federal Compliances

- Strong interpersonal skills, as well as, oral and written communication skills

- Demonstrates ability solve problems, think logically, work independently to resolve issues, and confidently presents findings and recommendations

- Must possess advanced technical skills in Microsoft Excel, PowerPoint and Word

- Excellent communication (written and verbal), analytical and interpersonal skills

- Knowledge of ERP/Retail Applications (Oracle/ POSS)

- Ability to handle multiple tasks under tight deadlines. Goal achievers & positive thinking.