Chief Financial Officer ( Glass manufacturing)
CFO
ROLES AND RESPONSIBILITY:
CFO is a business process facilitator for optimum resource utilization to ensure achievement of financial deliverables, protect company's assets and ensure statutory compliances.
OBJECTIVES OF THIS ROLE:
- Take responsibility (either directly or via staff) for all cash management, investments, insurance, budgeting, and financial reporting, and help drive the company's financial strategy and hiring needs
- Coordinate development of annual operating, capital, and program budgets, as well as reporting for the same
- Ensure cash flow is compatible with operations by overseeing day-to-day accounting, recording, reporting, and internal-control activities of the organization
- Develop and implement best practices and tools to ensure a well-controlled yet flexible organization that has strong fiscal management, project coordination, crossteam communications, and workflows
- Comply with national and local financial requirements by studying existing and new legislation and taking appropriate action B. KEY RESPONSIBILITIES Investment Evaluations
- Collaborate with the CEO / Board and the business heads on long term business strategy
- Prepare the annual financial plan / budget in line with the business strategy and get the necessary approvals from the CEO / Board
- Plan for investment needs in tune with the annual plan in collaboration with the business heads
- Evaluate investment feasibility, present the investment case to the CEO / Board and get necessary approvals for funding capital expenditure
- Monitor the progress of project implementations in terms of fund utilization and understand any delays on the project progress and the financial implications of the delays Cash Flow Management
- Ensure that the business is well funded through proper cash flow from operations and long term funds for investment needs
- Ensure timely and error free collection of receivables of the business and proper credit control is implemented and followed
- Evaluate and finalize the best funding options with financial institutions
- Evaluate feasibility of alternate funding options in line with the latest developments in government legislations Monitoring Profitability of Business
- Define the budgetary allocations and controls
- Monitor the budgeted top line performance
- Review constantly to find better ways of revenue optimization
- Monitor the operating expenses to maximize the margins
- Monitor the non-performing assets and take appropriate action
- Define cost control measures and explore cost saving / cost reduction strategies
- Control overhead costs
- Analyze and report variances in profitability to all the stakeholders
- Define the process of insuring all business related risks
- Ensure coverage of all insurable risks of the organization Maintaining Internal Controls and Processes
- Define processes for proper work flow planning
- Define processes to ensure validation of financial transactions
- Define processes for periodic review of books of account and other statistical records
- Ensure internal audits take place on time and also ensure adherence of the processes to the audit requirements
- Ensure integrity and hygiene of financial data and books as per the required standards Commercial Control
- Evaluate the commercials of various deals and approve the same Reporting & MIS
- Define and develop the format and content for various operational reports
- Define the process for effective and timely management of information from the reports and validation of the information Statutory Compliances
- Ensure all tax / non-tax and legal compliances are met
- Handle assessments, audits and litigations related to the business Strategic direction
- Provide strategic input and financial advice to Legal, IT and Supply Chain Management Teams - Monitor the deliverables of the team members on a daily basis People Management
- Build, nurture and groom the team to ensure the required performance standards are met C.
KEY RESULT AREAS ( KRAs):
- Ensure timely approval of investment proposals
- Ensure sufficient availability of cash
- Report and highlight critical variances in profitability
- Track business performance and annual operating plans
- Commercial clearances
COMPETENCIES KNOWLEDGE FUNCTIONAL LEADERSHIP:
- Financial Management
- Costing Principles
- Statutory Compliances
- Government Policies
- Financial Tools
- Conceptual Skills
- Analytical Skills
- Negotiation Skills
- Strategic Thinking
- Business Acumen
- Execution Excellence
- Result Orientation
- Collaboration
- Managing people and performance
REPORTS TO: CEO / Board SUPERVISES:
Finance Team, Legal Team, IT Team and SCM Team
RELATIONSHIP: External: Vendors, Customers, HR, Legal / Statutory & Other Consultants Internal: All Businesses / Functions / Group Organizations
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