Assistant General Manager - Finance - CA

Assistant General Manager - Finance

LOCATION : GURUGRAM / GURGAON

JOB SUMMARY - PURPOSE

A key responsibility of the position is to head Controllership, Tax, Costing activities and be the champion of digitization initiatives for the India business. The person will be directly reporting to the Director Finance as a Controller to ensure sound and accurate financial accounting and reporting activities in US GAAP and Local GAAP, ensuring effective internal controls, head all direct and indirect tax activities Transfer pricing compliances, Income tax compliances, GST reporting, assessments, tax litigations & tax planning activities in 19 states, responsible for product costing at port and location, leading statutory audit and managing company secretarial compliances including resolutions, board meetings, AGM etc. The person will act a champion and main lead for executing all the digitization initiatives for India business operations.

JOB ESSENTIAL FUNCTIONS

% OF TIME (approximate) KEY RESPONSIBILITIES & DUTIES

Financial Controllership, Statutory Audit & Management reporting 25%

- Ensure monthly, quarterly and annual delivery of financials (Income Statement , Balance Sheet) with detailed schedules to stakeholders. Monitoring the integrity and accuracy of such financials in accordance with US GAAP and Local GAAP.

- Drive monthly close process including preparation of financial statements, margin and SGA analysis, foreign currency conversion analysis, flux analytics, KPI metrics to support internal reporting needs. Continue to improve the processes and accelerate the close process

- Monitoring and reporting of actual results against KPIs to support the business finance support team in driving efficiencies.

- Formulation of Accounting policies and improvement in internal control processes through standardisation, documentation of standard operating procedures (SOPs) and review/update of IFC on regular basis.

- Creating a bridge via support, guide and train the team as well as support to Director in research in technical accounting positions.

- Conducting review of monthly Balance Sheet reconciliation (Blackline) and ensuring hygiene of books of accounts by clearing of open/long pending issues, monitoring of Accounts payable, receivables & Fixed assets.

- Responsible for successful closure of Statutory Audit in Local GAAP and US GAAP audit on timely basis without any significant deviations.

- Continuous improvement and scaling of accounts payable processes including implementation of systems and automation of workflows while maintaining an effective environment.

- Develops compliance programs and procedures to ensure the integrity of the disbursement process.

Plant Costing, Port Accounting and Inventory control - 15%

- Responsible for correct costing flows in SAP across products and plants in India along with reconciliation of product wise stock with SAP Inventory.

- Finalization of Inventory reserves viz maintaining adequate stock provisioning and net realisable value adjustments.

- Ensuring all expenses at Port are recorded on periodic and product basis in line with accepted accounting principles.

- Responsible for Plant-wise cost analysis, generating cost and stock reports to satisfy requirements of auditors

Direct and Indirect tax Compliances, assessments, litigations and tax planning - 30%

- Understand and keep abreast of changes in the local legal environment and ensure that MIPL adheres to local laws that pertain to taxation and other areas of financial management.

- Partner with a wide range of stakeholders within and outside the tax function to support tax positions subject to audit, including Legal, Accounting and Finance. Further, develop and execute tax controversy strategies to effectively defend tax positions taken and minimize controversy related adjustments.

- Responsible for developing and implementing tax planning strategies, policies and procedures as well as monitor reporting and planning to ensure compliance with applicable tax statutes.

- Ensure that all Corporate Tax reporting processes are efficient, efficient and value added with a focus on simplification

- Leads a team of experienced and diverse tax professionals responsible for strategizing, implementing and supporting tax objectives, while ensuring regulatory compliance and business competitiveness.

- Assess uncertain tax position and determine reserve requirements; draft memorandum substantiating any related financial statement impact.

- Responsible for representation before tax authorities in taxation matters, finalization of responses on tax queries, closure of scrutiny assessment in coordination with external counsel and follow up for refund for Open cases.

Digitalization of Business processes - 20%

- Be a champion and leading all the digitization initiatives of internal business processes for India business

- Lead the cross functional digitization group in documenting the internal business processes, identifying the process inefficiencies and identifying digitization opportunities for business improvement and growth

- Carrying out evaluation of digitization opportunities and building alignment with India leadership and executive buy in with US for implementation

- Selection of digitization service provider in consultation and coordination with US IT team

- Drive digitization initiative implementation with functional leads in India.

Team Management - 10%

- Manage team, set-up goals benefiting the function, inspire and motivate the team towards achievement of those goals.

- Ensure that job descriptions for Finance employees are up to date. In addition, ensure that performance and development plans are prepared each year. Complete annual performance appraisals for supervised staff. Make these documents a useful tool for employees to maintain and improve their performance.

- Identify the training needs of team, and continuously work towards development of team.

- Encourage teamwork and facilitate job enrichment to involve team members in activities beyond their defined job descriptions. Ensure effective delegation of authority and staff capacity building within the Finance Department

EDUCATION - DEGREE

EDUCATION FIELD OF STUDY

Chartered Accountant

EXPERIENCE 12-18 years

KNOWLEDGE, SKILLS, ABILITIES

1. Sound knowledge of US GAAP and India Local Ind AS GAAP

2. Detailed understanding of GST and transfer pricing regulations

3. Good communication and writing skills - ability to connect with councils, represent to litigating authorities etc.

4. Ability to articulate problems in simpler terms and solution oriented

5. Ability to manage multiple priorities

6. Eye for detail, highly analytical mindset

7. Collaborative and ability to lead cross functional teams

COMPUTER/TECHNICAL LITERACY

ERP, Windows operating Systems

OTHER

Knowledge of SAP is Must.