AVP Finance Operations Responsibilities :
Defining & designing processes :
- Define the processes across different functions of Finance covering AR/AP/EBO/Marketplace/SIS
- Identify gaps in processes in terms of SLA/risks/leakages/control. Accordingly, recommend improvements & areas of automation.
- Set-up SOPs and socialise with different stakeholders (internal & external)
- Learn from industry peers about best practices and recommend/plan for implementation
EBO management :
- Liaise with various internal teams such as Projects, EBO operations, treasury, finance, auditors and others for EBO related processes
- Communicate with Landlords, project vendors
- Maintain all data relating to EBO fixed assets, including tracking projects, CWIP, capitalization, depreciation, sale of assets etc.
- Track deposit to inventory ratio for FOCO stores and identify areas of risks needing attention.
- Perform monthly margin calculation for stores and reconciliation with payments/deposits
- Define New Store opening (NSO) process from a finance perspective and ensure compliance to such agreed NSO checklists/process.
- Monthly Management reporting
Revenue and Account Receivable :
- Prepare and track 3 way reports for tracking Ordering/Collections/Invoicing across channels
- Prepare and review daily/weekly/monthly reconciliations depending upon channel
- Follow-up with external parties like Marketplace platforms, SIS partners, EBO, PGs & Banks for gaps in reconciliations and closure of open points.
- Build relationships with Banks & PGs to drive a better costs of collection
- Track and review potential exception reports (e.g Ordered but invoiced, duplicate invoice)
- Track and process timely customer refunds in a timely and accurate manner.
- Ensure completeness in invoicing across platforms and acting as one of checkers for correct revenue accounting.
- Work collaboratively with PG partners to explore opportunities for partnerships on our platforms which can help elevate customer experience wrt to payment process/mechanisms
Accounts Payable & Vendor management :
- Define a clear PO/PR process linked to GRN across different segments of payables (Inventory, Opex, Store running, Capex)
- Maintain and adhere to a payment register to segregate and identify recurring/non-recurring and capex payments
- Identify and monitor any deduction wrt to damages, penalty, QC failure needed before payment preparation.
- Ensure accurate and timely payment are done as per the agreed terms.
- Ensure adherence to the approval mechanism set in place for all payments.
- Work closely with vendors to establish a strong relationship.
- Ensure the correct TDS deduction.
- Ensure monthly reconciliation of GST inputs with vendor GLs. Identify gaps and issues and work with vendors on closure.
KPI driven Performance dashboards:
- Prepare and publish different performance dashboards relevant to the respective sub-functions.
- Performance dashboards should include but not be limited to:
a. Channel wise collection reconciliation matrix
b. Channel wise open items reports
c. AR/Invoicing exception reporting
d. Refund SLA reports
e. Payment processing SLA report
f. AP exception report Team Leadership
- Mentor and train team members on a time-to-time basis to update on processes, policies and best practices.
- Drive a disciplined and timeline - based approach across the team
- Identify and groom leaders within the team
- Identify and recommend training needs of the team
- Team should have less than 5% voluntary attrition
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