Business Finance - Head

Department - Finance

Grade - M3/M2A

Education & Experience - CA with 12 -15 years

Designation - GM/DGM

Location - Bangalore

Role Summary :

Lead the team to provide financial guidance to the concepts through detailed insights and analysis on consumer spending patterns, product and competitor performance

Key Job Responsibilities:

Budgeting and Control :

Assist the Concept Head in the finalization of annual targets along with other functional heads to implement the agreed directions

Adhere to financial policies/procedures for the Concept within the framework of the group policies aimed at achieving the business growth and controls and ensure that the Finance Team follows internal control measures to safeguard financial interests

Monitor annual purchase budgets as per plan

Ensure that the annual financial budgets for the Concept are drawn based on the corporate strategy

Review budgets of the Concept and Regional operations monthly and revise allocations if necessary

Prepare project feasibility reports with respect to expansion of stores.

Exercise necessary budgetary controls on all costs incurred by the Concept, ensuring that they comply with the drawn budgets

Review and discuss monthly financial accounts and variances against budget achieving cost control on the controllable expenditures

Ensure that the overall margins to be achieved are as per budgets

Monitor the income and expenses versus budget, track the variances, recommend corrective actions and follow-up on remedial actions to ensure the adherence to the budget and to support the effective monitoring of performance within the budget

Monitor import shipments and control costs

Review management analyses from the quarterly data to identify variance from trends and budgets

Ensure delivery of set standards of MIS reports for various departments, ensure periodic MIS generation and interpret data to suggest ways of cost optimization and store performance improvement

Review and provide exceptions, variance, retail productivity, stock, sales, financial and budgetary analyses through MIS reporting

Provide sell thru analysis and Price Per Play & ATV, NOB, Revenue per Sq Ft ratio analysis to the concepts

Provide pre and post promotion analysis to the relevant stakeholders

Analyze and share updates on the impact of regulatory changes (opening of FDI in retail, Government policy changes, imposition of excise duty on branded garments, GST, change in market dynamics etc.)

Define the norms and guidelines for PO control (in terms of timelines and process)

Accounting and Audit (In Liaison with Group Accounts Team)

Manage payables and receivables for each Concept

Approve, authorize all payments and ensure accuracy in timelines and accuracy in all payments

Set up controls and procedures for debtors invoices and for monthly cash certificates

Develop and maintain systems for prompt and accurate collection of financial and accounting information

Maintain accounting by ensuring expenses are properly accounted for

Ensure thorough checking of the entire MIS prior sending to various top management teams while adhering to agreed timelines

Ensure generation of monthly and quarterly financial statements - Balance Sheet and P/L statements in compliance with the statutory/regulatory norms

Supervise timely and accurate internal audits and finalize Accounts for the Concept

Ensure Compliance to Company policies, practices and accounting standards

Ensure that the annual financial statements of the company are drawn up in time in line with the Corporate guidelines

Set up controls and procedures for debtors invoices and for monthly cash certificates

Supervise on-time preparation of statutory accounts and liaise with external auditors when required

Supervise Banking transactions - daily fund management, liaison with banks for utilization of funds / bank limits, analyze banking facilities

Vendor Management :

Provide debit confirmations to Group Accounts from vendors

Facilitate Vendor reconciliation

Inventory Control:

Analyze and ensure adequate action is undertaken on aged inventory across all trade types

Provide support in building inventory NOD norms and ensure performance is within the norms

Legal and Insurance Matters (In Liaison with Group Accounts)

Ensure safe custody of all company assets

Liaise with Legal department and coordinate with the Corporate legal and local legal offices on legal matters

Ensure timely renewal of Trade Licenses / Lease Agreements / Commercial terms with the different authorities, with PR support

Ensure renewal and registration of Trade Marks

Implement SOAs

People Management

Select the right team members

Set expectations and give regular feedback to team

Provide adequate support and motivate the team to deliver on the job

Guide, coach, train and develop the team

Key Result Areas (KRAs)

Financial

Concept profitability

Concept margin realization

Customer

Promotion and mark down control

Inventory and control

MIS reporting and analysis

Process

SOP and SLA Adherence

People

Retention

Team Engagement

Team Development

Building capability of the team

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