Essar Capital - Senior Associate/Senior Manager - Accounts - CA

POSITION PURPOSE:

a) To manage the day-to-day treasury operations of Essar Mauritius through effective management of cash flows; covering of risks; execution and monitoring of payments; in order to ensure ECML is as per compliance and regulatory norms.

b) To manage consolidation of entities which requires; discussion with component managements, review of reporting pack, preparation of consolidated financial statements; co-ordination with auditors; providing information and clarification to auditors;

POSITION REQUIREMENTS:

- Education CA degree is Mandatory

- Degree in finance or accounts or equivalent is required

- Experience 10 years of relevant work experience in Accounts, Consolidation , Budget and Control

SKILL/COMPETENCIES REQUIREMENTS :

- Treasury operations

- Corporate finance and cash management

- Negotiation and communication skills

- Applicable country regulatory and compliance knowledge

- Good understanding of business and economic environment

AREA KEY ACTIVITIES:

1 Treasury Operations - Manage the short-term investment and day-to-day cash flow to ensure all treasury operations are done in an ethical and efficient manner

- Review treasury operations on a daily basis to ensure that corporate funds are flowing in a manner consistent with maximizing corporate value and minimizing costs

- Monitor past due accounts, monthly collection and strategize on recovery steps on bad debts in order to ensure optimum credit and fund availability for ECML Authorize all payments for local vendors, employees, statutory authorities; authorize payments for travel advances; coordinate with the Board to update the signatory approval list for payments

2 Cash Flow Management - Monitor all company receivables and payables; review all credit line documentation; oversee all commercial borrowings (ECB) and payments; arrange funds for any capital requirements

- Handle timely reconciliation of cash application and disbursements and monitor cash transactions to ensure alignment with bank account balances as well as report any unusual items to be investigated. Develop and submit all financial and account report to management

- Deploy idle funds profitably to ensure efficient cash flow, profitable fund management and policy compliance

- Prepare liquidity requirement schedule over the short to mid-term

- Prepare investment plans of surplus funds after considering the all the inputs in a way as to generate maximum yields

- Ensure quick turn-around time for term loans, working capital loans; manage other borrowings and debts

3 Transaction Processing - Monitor customer/vendor code creation process in the system - name, address, bank details, quarterly updates of credit limits for both existing as well as new customers/vendors, etc.

- Monitor and approve receipt vouchers, payment vouchers, cheques etc. Resolve queries / escalations and seek necessary approvals from Director - Treasury and Banking

4 Monitoring and Reporting

- Ensure that the Treasury activities are accounted for and reported in an appropriate manner and on a timely basis

- Review accuracy of data and timeliness of entry / updates and create investment MIS reports and ensure correct documentation

- Handle queries and mismatches with counterparties and custodians, by preparing and reconciling all custodial statements against records as soon as they are received

- Support in internal audit for the company, provide support to departments to close pending issues; monitor operations and intervene in the treasury process to ensure successful completion of audit and compliance

5 Preparation of consolidated Financial Statement - Data Collection and analysis

- Preparation of consolidation worksheet, eliminate intercompany transactions and balances, adjustment for difference in accounting policies or reporting period, reconciliation of any differences and resolve any issues arising in the consolidation process

- Preparation of consolidation financial statement including the balance sheet, income statement, cashflow statement and statement of changes in equity.

- Ensure with compliance of applicable accounting standard

- Provide supporting schedules, footnotes and disclosures as required

- Assisting auditors during the audit process by providing necessary documentation and explanations

- Prepare management report and presentation summarizing the financial results and key performance indicator

6 Strategic - Provide inputs in the designing and implementation of the finance and accounting function's key strategies and roadmap for team and ensure it is aligned with ECML's business goals

- Develop regular reports on function's progress and share it with the Director - Finance and Accounting for review

7 Financial Control and Reporting

- Participate in the designing of the financial investment plan for portfolios and ensure they are aligned to ECML's overall investment priorities and risk appetite

- Maintain the books of accounts, consolidation and periodic reconciliation and create financial reports and statements

- Monitor and update accounts in system and databases and ensure regular financial reporting and analysis of accounts and prepare consolidated statement based on every transactions

- Produces regular financial reporting and analysis for review by Director- Finance & Accounting

- Provide timely and accurate monthly, quarterly and year-end closing reporting according to Essar Group's policies

- Update the funding plan based on the resources raised and share frequent reports with the Director - Finance and accounting and International Banking team

- Maintain systems for prompt and accurate collection of financial and accounting information

- Ensure consistent application of accounting standards and International standards in financial reporting

- Ensuring effective control framework for recording & reporting transactions in a timely manner

- Propose the design of the financial investment plan for companies, take end to end responsibility of preparing the proposal, support Director- Finance and Accounting in taking board approval and implement the proposal ensuring alignment to Essar Group's overall investment priorities and risk appetite

8 Compliance and Audit - Ensure investment management policy and processes are properly maintained to manage ECML's financial investments including selection, monitoring, performance and reporting of investments

- Interact with compliance and audit team and ensure audit standards are as per Essar Group's guidelines

- Provide support in conducting the annual audits and review the annual reports conducted by compliance team and external agencies and identify any challenges / bottleneck and report it to the Director - Finance and Accounting

- Ensure compliance through effective accounting controls and financial management, in line with defined delegation of authority

- Ensure that the financial processes are compliant with the statutory, regulatory and corporate governance requirements.

- Ensure the timely and accurate processing of payments to staff, suppliers and service providers

- Advise the Director - Finance and Accounting with regards to regulatory requirements and any other matters of concern in relation to compliance for suitable action