Talent Search Executive at Anther HR Solutions
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Chief Financial Officer - BFS (10-12 yrs)
Role of CFO : This role exists for the Management of the Finance and Accounts, and IT functions of the company, to deliver, fit for purpose controls and risk management, advise to the BOD on governance, complete conformity with statutory requirements, generating Operational and Financial MIS to steer the business. Additionally, Internal and External Audit is core to the role. The individual in the role is seen as a key part of the growth strategy and execution.
Controls & compliance
1. Responsible for Maintenance of Control Framework which includes policies, processes, support in Risk and Controls identification and advise on Controls required for Key Transactions. Work with the business heads and personnel to implement controls
2. Monitor legal and fiscal compliance. Report for intervention should any non-compliance arise.
3. Reviewing purchase contracts and fixing guidelines for Cash / Credit purchases.
4. Stock audit, identification of slow moving non moving items of inventory and monitoring disposal.
5. Product Costing and Pricing. Advising on cost control to top management. Verification of revenue leakages.
Management information/analysis/Management team participation
1. Provide decision support through business performance analysis and appraisal.
2. Be a proactive member of the management team provide active contribution and challenge to various stakeholders.
3. Regularly appraise operations with strong emphasis on forward looking analysis.
4. Deliver performance management with and for the business
5. Drive value/cost management across Operations by implementing robust cost control procedures with clear accountability and ownership
Credit Control oversight
1. Ensure simple yet robust credit processes are put in place to evaluate customer credit.
2. Regularly review the customer profile, market conditions impacting the customer and surface risk/opportunity in providing credit to customers.
3. Monitor dues and overdues. Draw attention to areas of emerging concerns in a timely manner.
Budgets, Cash, Bank & Balance sheet
1. Prepare regular cash forecasts; to assess funds requirements.
2. Work with the CEO on appropriate funding strategy (debt vs equity).
3. Liaise with the banks/financial institutions for securing appropriate funding.
4. Regularly review the balance sheet. Unrealisable assets and understated liabilities should be brought to Management's attention.
5. Estimate the impact of future business plan on the balance sheet and identify risks/opportunities. This is seen as a key responsibility for this role towards maintaining the financial health of the company
6. Resource planning by introducing budgetary systems. Budgets are prepared to achieve certain volumes department wise - Sales, Production and Personnel and Administration - that is discussed at various levels. These are normally annual budgets that are reduced to monthly budgets for easy execution. Includes both Capital and Revenue budgets. Monitor the variances in budgets and draw attention to areas of emerging concerns in a timely manner. This also requires understanding and designing of corporate policy.
7. Budgets are managed through collections and disbursements. (Debtors Management) Finance head will meet the Production/Purchase and the Sales team at periodical intervals. This is a very formal exercise.
8. Foreign contracts - buyer's credit / seller's credit and exchange risk management. Monitor the currency exchange rates and take appropriate steps to prevent loss from foreign exchange transactions.
Capital investments and new projects.
1. In an uncomplicated manner perform basic economic evaluations and challenges of investment proposals, capital investments, and other projects / initiatives carried out in Operations including cost / benefits tracking of the projects.
2. Ensure investment decisions comply with the philosophy and strategy set by the MD.
- Coach the finance team to develop and work as a business enabling function