GM/VP - Back Office - F&A/Admin/Procurement/Logistics/Planning - CA/IIM

Functional Responsibility - Overview

- This is a position proposed to be introduced to take total responsibility for back office, reporting to CEO

- The back office covers - Accounts and Finance, Admin, Procurement & Logistics, Planning

- Accounts & Finance, Admin, P&L Depts are headed by Managers, with Team Leads to support

- Initiating action for preparation of annual plan, Driving Business Plan through the Unit Managers/Verticals, its review is primarily GM function

- Order Execution is a very important function and the efficacy of the process flow is very important.

- Presently this Dept., is managed by CEO, which in due course may be shifted to GM.

- For the Present, Accounts, Finance, Account Receivables, Admin heads will report to GM initially, GM will play a co-ordinate role in P & L - focusing on invoicing targets and stock review initially 3 to 4 months will be provided to familiarize with the functioning of all the Departments.

- Thereafter, performance targets will be fixed by mutual discussion(with CEO)

Essential Pre-requisites :

- Chartered Accountant or an MBA from one of the IIMs;

- Hands on experience for 10 years in a Large Organization with Business/Industry with similar process, with annual turnover of INR 500 crores upward;

- Proven experience in Leadership position;

- Proven experience having worked in multi-tasking positions;

- Work experience in multi-cultural environment across geographies;

- Adaptability to situations without compromising on Organizational interest;

- Innate urge for professional advancement and growth;

- Preferred age - 40 to 50 years;

Accounting Functions :

- Monthly review with, Manager, Team Leader(TL) of all the heads of accounts in Tally,covering P&L and B/s to ensure that :

a) provisions for monthly P&L is proper and adequate;

b) Trade Creditors & Other Creditors are paid on time;

c) Advance payment to Suppliers o/s is well within range;

d) Margin money on BG/LC/APG is properly followed up;

e) Receivables entries are properly passed taking note of exchange loss; penalties;

f) Payments out of Provisions have the approvals, wherever warranted;

g) Payments towards Investments have the approvals;

h) Purchase, Sales, margin analysis for each order and comparison of data with Acess database for purpose of Business Plan;

Reconciliation :

- Manager/TL is expected to address all open entries before 15th of the succeeding month.

- Review all bank accounts and suppliers accounts to ensure that the process is conclusively addressed and to provide guidance in handling escalations.

MIS in Tally :

- MIS in Tally is utilized to facilitate analyses. It is expected that some time is allocated daily to; (a) ensure utilization of the available tools and also to build new ones as and when need arise;

Management Reports :

- The Organization drives the business thro Business Plan annually. At monthly interval a Variance report will have to be generated between BP & Tally. Formats are available for the purpose

- Quarterly P&L data to be presented to Management along with projection till the year end.

Audit : Facilitate and finalize accounts for annual audit and co-ordinate with External Auditors.

Control Function : Scrutiny of all papers having financial implications sent to Management, for signature on daily basis

- Sales invoicing is part of Accounts Dept., function. Guidelines have been laid down stipulating compliance for invoicing. The Incumbent will have to discuss with Procurement and Logistics Manager, to arrive at invoicing forecast for the next three months

General : The above functions are indicative.

Skill Sets required :

- Proficiency with Tally and hands on experience in building and handling accounting functions at least for ten years, in a large Organization

- Experience of at least 10 years, in handling all the above areas and in handling team of at least 25 persons, who are headed by Managers/Team Leaders in multi-locations.

Finance Function :

Banking Facilities - General :

a) The Group is having facilities over AED 150 million from one International Bank and four regional Banks.

b) Negotiate for renewal of facilities, ad-hoc project finance limits, and, reduction in finance cost;

c) Hedging Forex risk;

d) maintain cordial relationship with RMs and Seniors.

(f) the Group enjoys very good credit rating amongst banks;

Cash Management : Maintenance of optimum liquid cash

Cash flow Management :

- The Group has an excellent track record of paying all the creditors including Banks on time, without a single instance of default.

- Supplier payment is crucial and the challenge is to prepare a forecast for payments due in the next 3 months in advance.

- Not with standing the receivables inflow, all payments have to be made on time. Structuring project finance and/or negotiating with suppliers are alternatives.

Account Receivables :

- The Group has 7 staff with One TL managing AED 200 million of AR on an average;

- While delivery is the invoicing point to book a sale, the payment period starts after fulfilling installation and sign off compliance. Hence the outstanding up to 120 to 180 days for equipment's is considered normal

- The payment from Customer depends upon satisfactory performances from

(a)P&L for delivery;

(b)Service for quality of service;

- Sales in its ability to meet with its commitment; this apart Customers also may have constraints like site not being ready for installation etc., In essence, the role challenge is to understand the functions in the respective functional areas.

- Currently a system is in place to track the movement of receivables.

- The responsibility of AR starts when commercial sign off is complete. Nevertheless, escalations do crop up at the time of interaction with the Customer, for collection.

- Generally when once the Receivable is moved to AR it has to be collected within the specified days which are defined in the beginning.

- The Incumbent is expected to play a vital role in synergizing the efforts and also ensure process compliance to reduce the collection cycle, over a period of time.

Asset Quality :

a) Quality of each of the asset is a true reflection of the health of the Group, notwithstanding Revenue and/or profit. As a Finance Functionary it is expected that a comparative study is carried out at quarterly interval and management is apprised about the position with suggestion for improvement.

b) Forex management at least for 5 years;

c) Experience of having worked closely with peer level functionaries to achieve Organizational objectives, in as diverse field as sales, service, procurement & logistics;

d) hands on proficiency in word, excel, access, power point, to facilitate preparation of reports and also to use the existing database;

e) proven track record of dealt with Customers in a multi cultural environment;

Skill Sets : At least 10 years experience in all the above areas with proven track record.

Administration Function :

Admin Function - General :

- The Group has over 300 employees spread over UAE, KSA, Qatar, India. Each Country has separate Labour Laws. It is well defined and has less hastles in the Middle East.

- The Group do not have Employee Union. Currently, a hand book is circulated to Employees from time to time. More than 65% are technically qualified Professionals.

- As a support, the Group has Senior Admin Manager in KSA, who is taking charge of KSA, within the framework provided by the Corporate office.

Expenditure Management :

a) there is need to revamp and re define some of the approval systems in place and also bring more clarity;

b) the process of scrutiny has to be streamlined;

c) reduce the process cycle in expenditure accounting;

Appraisal System :

- The Current system is linked to performance ranging from delivery to Customer up to collection of receivables. There is need to study and refine the same.

Policy Manual : There is need to have separate PM for each region

Skill Set required :

a) An innate flair to handle Admin and HR issues;

b) Ability to visualize and work in the interest of the diverse staff across various geographies;

c)Hands on experience for at least three years;

d) Openness to suggestions;

Planning And Budgeting :

- The Group has introduced Business Plan since 2007. Constant revision and improvement is brought to capture the various performance parameters into the same.

- Yet, there is tremendous opportunity to refine as the product line is added extending to newer geographies.

The incumbent is responsible to :

- Prepare annual(draft) budget on the basis of info from various functionaries;

- After detailed discussion finalize annual budget provide monthly data to Unit Manager's about performance before the 10th of the succeeding month

- Discuss with UM about the performance in key areas like Sales, margin analyses and Net profit and to come out with an action plan for implementation

Skill Sets :

- Hands on experience for at least 3 years in budgeting process;

- Absolute familiarity with handling data in Access and Tally;

- Ability to prepare snapshot reviews;

Procurement And Logistics :

- Delivery compliance and invoicing target review based on expected date of delivery are crucial functions in P & L. GM, can play a complimentary role in periodical review of order position, invoicing targets, delivery escalations, so that co-ordinate functions are better monitored.

Additional Information :

P & L Dept., is headed by a Manager, in addition to three Team Leaders. The Depts., efficiency depends upon the support provided by Accounts, Service and Sales Dept., GM can play a vital role in bridging the gaps, which will lead to operational efficiency and reduce the Execution span.