Assistant Vice President - Finance - BFS

ABOUT THE JOB ROLE

Purpose

- Participate and contribute in decisions pertaining to strategic initiatives, operating model and operational execution

- ensure timely and accurate statutory compliances;

- provide a 100% comfort to CFO & CS (the Board, and, Management, in general) that there are no surprises in regard to accounting and compliances

Strategic Roles

- assist in establishing yearly objectives; assess organizational performance against budgets;

- assess trends, changes in revenue model(s), cost structure and operational delivery

- develop tools and systems to provide critical financial and operational information; provide analytical support to CFO & CS in evaluating financial and business implications of various strategic decisions

- select and engaging outside consultants (auditors, investment advisors)

Operational Roles

- Financial Planning and Analysis (FP&A);

a. prepare and maintain regular financial planning reports; monthly P&L forecast by product (vs. budget); cash flow forecast

b. prepare (strategic and tactical) data-supported recommendations based on financial analyses

c. develop and utilize forward-looking, predictive models and activity-based financial analyses to provide insight into the organization's operations and business plans

d. conduct financial analyses of various business initiatives and strategic priorities (e.g., costing of products and services, revenue sharing arrangements with partners, asset acquisition, new service launches)

e. conduct cash flow planning and ensure availability of needed funds

- oversee financing strategies and activities, as well as banking relationships

- support development of corporate policy

Accounting and Administration

a. supervise Sub-K finance, accounting and internal audit staff to ensure

i. timely and accurate accounting; month-end closing of GL, BS reconciliations, corporate / overhead cost allocation

ii. timely (monthly, quarterly, annually, or, as needed) communication of accurate MIS for BoD and BU heads

iii. proper filing of tax returns

iv. legal and regulatory compliance

b. plan and implement improved financial and accounting systems, processes, tools and control systems

c. ensure appropriate internal controls and financial procedures;

d. plan and execute audits; manage preparation and support of all external audits

e. serve as final point of escalation for AR / AP issues

f. weekly cash management; approve weekly payables; execute check signing

- develop and manage accounting staff

Investor Relations;

a. participate in calls with lenders/investors

b. represent Sub-K to financial partners, including financial institutions, investors, executives, auditors, public officials, etc

c. participate as a key member of teams engaged in capital raising for Sub-K, including production of supporting analyses and negotiation with banks and investors

Tactical Roles

- remain updated on audit best practices and recent statutes

Brief Candidate Profile.

- Chartered Accountant; additional MBA would be an advantage

- 30-to-35 years of age; with post-qualification work experience of 8-to-10 years

- articleship with Big4 or such reputed Firms would be an advantage

- preferred additional experience

a. debt raising and associated negotiations and relationship management

b. enterprise valuation

c. managing compliance for a financial services company

ABOUT THE COMPANY

Sub-K is a digital finance (Fintech) Company that offers affordable, accessible and scalable financial and payment services to BoP segment. Sub-K seeks to bridge the digital divide and create a - financially included- society through a robust and widespread retail distribution network and in-house fintech solutions.

A BASIX Group company, Sub-K provides residents of rural, urban and semi-urban areas with a mobile technology based transactional platform for access to digitized services and Business Facilitation Services. For more details see https://subk.co.in/our-work.php.

For the Credit vertical, Sub-K has tie-ups with 5 banks (for providing loans and other credit products); they have an AUM of around Rs 900 Crores as on November 2018; on the Basic Banking & Payment vertical, have relationships with 12 banks. Sub-K operate out of 250 branches pan India visible to users co-branded with Principal Banks.

Sub-K revenues for FY 18 were at Rs.50 crores. The ratio of revenue from Credit and Basic Banking vertical were 65:35 respectively. It is estimated that the revenues for FY 19 will be growing at 100% to be around Rs.100 crores. It has grown 100 time in last 5 years. The same pace of growth is expected in next couple of years with organic and inorganic approach.

Pan India, Sub-K employs ~1600 FoS and add 50-to-100 every month. Sub-K plans to innovate, develop and showcase new asset products to their Principal Banks; once ready for a larger roll-out, continue to play role of BC and provide last mile service to customers

Investors. See https://subk.co.in/investors.php; https://subk.co.in/other-funders.php;

Rs 57 Crores has been raised during 2018; another big infusion is expected prior to June 2019

Other Partners. See https://subk.co.in/partners.php; https://subk.co.in/non-banking-partners.php; https://subk.co.in/technical-partner.php;

Technology. See https://subk.co.in/overview.php;