Group Chief Financial Officer - BFS

JOB RESPONSIBILITIES:

FINANCIAL STRATEGY & MANAGEMENT

- Develop and direct the implementation of strategic business and/or operational plans, projects, programs, and systems.

- Directly involved in providing strategic financial input and leadership on decision making issues affecting the company

- Work closely with CEO to determine communication strategy, including identification of key messages, for corporate finance strategy and all announcements with investors and board.

- Provide leadership in continuous evaluation of short and long-term strategic financial objectives of Group.

- Direct and oversee all aspects of the Finance & Accounting functions of the organization.

- Create and implement a working capital plan and direct investment of excess working capital

- Investigate and recommend outside resources for capital when needed, negotiating competitive rates

- Report monthly to the CEO on all financial areas

- Analyze cash flow, cost controls, and expenses to guide functional leaders. Analyze financial statements to pinpoint potential weak areas.

- Participate in planning and policy-making decisions.

- Optimize overhead expenditures

AUDIT, COMPLIANCE, STATUTORY PROCESS & RISK MANAGEMENT

- Oversee internal / statutory / tax audit

- Oversee and direct the annual auditing process

- Satisfy all regulatory and tax compliance filings and reports, while working to minimize taxes

- Ensure Computation & arrangement of timely deposit of taxes, filing returns (Income Tax, GST, TDS) for timely completion of assessment and statutory compliance.

- Manage seamless Income Tax Assessment of company.

- Responsible for company's liabilities like, legal contracts, statutory & tax obligations, hidden liabilities in the form of contingencies, leases, or insurance summaries, loan covenants etc.

- Assist in obtaining the necessary licenses and insurance required for the business.

- Review existing client contracts to ensure maximum profitability

- Develop standard contracts to be used in the implementation of new relationships which minimizes risk to the company and maximizes profitability

- Implement stringent confidentiality agreements with all vendors, clients and employees

- Maintain all acceptable insurance policies to limit exposure that can occur in the production process and report on coverage, deductibles and co-insurance amounts

- Develop and implement a risk management policy to ensure regulatory compliance and effective risk management - embedded risk management and controls from transactional processing to financial reporting. Coordinate and lead the annual audit process, liaise with internal / external auditors and the finance committee / board of directors to assess & recommend changes as necessary

BUDGETING / MIS / SUPPORT

- Formulating annual budgets, conducting variance analysis and implementing corrective actions.

- Overseeing the preparation of MIS including cash flow actuals (monthly & weekly) and Turnover report.

- Monitoring inflow / outflow of funds, take adequate measures to ensure optimum utilization of available funds

- Interact with other managers to provide consultative support to planning initiatives through financial and management information analyses, reports, and recommendations.

- Optimize & streamline purchase expenditures

- Review, recommend and direct the appropriate capital expenditures

- Develop and implement a disaster recovery plan and procedures to ensure minimal interruption to business, as well as maintaining invoicing for cash flow

CASH FLOW & FINANCIAL ANALYSIS

- Oversee the approval and processing of revenue, expenditure and position control documents, department budgets, salary updates

- Establish and maintain appropriate internal control safeguards.

- Develop a reliable cash flow projection process and reporting mechanism which includes minimum cash threshold to meet operating needs of the company and ensures timely invoicing to clients and payments to outside vendors

- Review existing client contracts to ensure maximum profitability

- Establish relationship with banks

- Administer banking arrangements and loan agreements and maintain adequate funds

- Anticipate and raise resources on a need based, cost effective manner to meet funding need. Monitor use of funds in capital projects & Working Capital.

INVESTMENT MANAGEMENT

- To manage the overall treasury and investment operations of the group companies with accurate reporting on returns, exposures etc.

- To work with the board to forumlate a investment policy document with measures to prevent over-exposure; mitigate losses etc.

- To liaise with investment companies and banks to idenitfy the best investment opportunities and present them to the board.

ACCOUNTING SYSTEMS & TECHNOLOGY

- To work on bringing automation to the accounting and financial operations of group companies through identification, evaluation and implemenation of the correct accouting and / or ERP system

- To work on improving the efficiency and effectiveness of the accounting department