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Head - Finance & Accounts - Earth Moving Machines & Automotive Firm - CA (2-6 yrs)
About the Company:
Cofle Taylor India Control Cables & Systems Private Limited (Cofle Taylor), Chennai, is a JV between Cofle S.p.A, Italy between Cofle S.p.A. (74% ownership) and Taylor Rubber Private Limited, an Indian Company with 26%ownership.
Cofle Taylor is in the Earth Moving Machines and Automotive fields. It manufactures, assembles and sells mechanical control cables and remote-control systems for off road machinery (i.e. Earth moving machines,Tractors) and for cars.
The parent foreign company i.e. Cofle Spa (Cofle) is more than 50 years old, is present in 5 Countries with 5 production sites, modern and efficient logistic centres, a design and co-engineering project department, and over600 employees. The Aftermarket Catalogue counts more than 5,000 solutions, all created and developed on the basis of OEM knowhow and in conformity with OEM technical specifications. Cofle is the preferred supplier of prestigious customers such as Bosch, TRW, etc (After Market Division) and Same, CNH Industrial, John Deere,Mahindra, Argo Tractors, etc (OEM Division).
The Indian partner, viz Taylor Rubber is an ISO/ITS 16949 quality system certified Company that was started on 2nd April 1980, in Chennai, South India. Taylors initially began manufacturing Domestic Pressure Cooker RUBBER Gaskets. In 1996 Taylor Rubber started producing Automotive moulded rubber parts and is now a well-recognized manufacturer of rubber moulded parts for the automotive, non-automotive and consumer durable industries as well as special technical parts for electrical & electronic, oil exploration, wind energy, solar energy and other industrial applications.
The JV Company (Cofle Taylor) was incorporated pursuant to the terms of the Joint Venture Agreement dated 15th October, 2018 (- JV Agreement- ).Cofle Taylor is an industrial company which aims is to meet the supply requirements of Cofle and its Affiliates (including the ones based in Italy, Turkey and China) and its customers in the world and concurrently develop the Indian market for the products, defined by the board. The JV Company will manufacture the products with technology and know-how provided by Cofle under the brand name 'Cofle'.
Cofle Taylor has already commenced production, and the plan is that within 5 to 6 months, the company will have 3 shift manufacturing activity with a total complement of 50 people work force. In the present schema Cofle Taylor
imports components from its parent Cofle, and after value addition in Chennai, the products are re-exported to Cofle and its associated businesses. Cofle Taylor is also committed to build its independent supply chain and customer base.
Cofle Taylor is poised to become an important player, not only for the Cofle Group but also for the Indian Market.
Cofle Taylor is looking for CFO Head of Finance & Accounts to manage its growing financial and commercial operations in India. The Commercial reporting and Administration function will also report into this position
- The supply chain and sales (resource planning) of the Cofle Group, at a global level, is managed through an ERP application that is hosted on AS 400 (IBM) in the Italy headquarters of Cofle. One of the most critical responsibilities of the candidate will be to manage this ERP interface, accurately and timely.
- Managing the accounting and financial control functions of the Company, in compliance with established Indian accounting standards and the accounting standards adopted by the parent company;
- Preparation and filing of returns for Income Tax, GST, Tax Deductions at Source, and any other Tax compliances as may be needed from time-to time;
- Formulation of processes of, and managing: Payroll payments; Vendor payments, Suppliers payments, Tax payments, Rents, Utilities payments, reimbursement of business expenses to staff; Dividend remittances,etc;
- Managing and operating the Bank accounts (including the fixed Deposits with the Banks) of the Company as per the delegation of powers vested by the Board of Directors, from time to time;
- Financial control of the Company, including financial planning for cash inflows and outflows for the Company;
- Managing the processes for Transfer Pricing and ensuring proper documentation for the same
- Establishing policy for Petty Cash and managing the same;
- Preparing MIS reports in compliance with Indian regulations and as per practices of the parent company;
- Managing issuances of share capital, its related remittances, and their reporting to Banks and the Reserve Bank of India (RBI);
- Risk management of the company, which shall include establishing risk management processes and managing risks relating to Credit risks on Sales, Regulatory compliance risks, Foreign Exchange risk due to Imports/ECB, etc;
- Establish procedures for Sales collection and reporting for overdue sales collections
- Arranging working finance facilities for India business including bank guarantees, trade letters of credit, receivables financing, etc;
- Representing the Company to all regulators; covering state regulators and fiscal regulators;
- Formulation of Annual Accounts in compliance with Indian GAPP and in convergence with the parent Company's requirements along with internal and statutory auditors;
- Managing the audit functions, relating to statutory audit, Tax audit, GST audit and internal audit;
- Designing the internal audit scope of work, and ensuring compliances with the suggestions of the internal auditors that are accepted by the management / Board;
- Establishing administrative policies for Travel, Business entertainment, Office upkeep, etc;
- Designing the processes and managing the administrative activities relating to human resources (including training, employee loan policy, medical / workmen insurance, etc), and adherence to local laws and regulatory environment requirements by all staff of the Company, etc;
- Overseeing the Company Secretarial function is Board Meetings, Shareholders Meetings, RBI reporting, etc;
- Designing and managing overheads allocation to different business units / products, as and when relevant;
- Designing and managing direct and indirect costs allocation of each manufacturing line, and to this end coordinating the activities with production heads, HR and other business units;
- Negotiating contracts with the supply chain;
- Managing and negotiating the service agreements with various contractors of the Company;
- Support in designing and implementing incentive plan for commercial and non-commercial staff;
- Ensuring that all practices of the Company and its processes are in full regulatory compliance;
- To design and implement an ethics policy;
- Others as may arise from time to time
The candidate will be required to attend a few weeks of training program in the parent company in Italy.
- Must be a fully qualified Chartered Accountant (CA), preferably also a Cost Accountant and Chartered Secretary
- At least 2-6 years of experience of having independently managed a finance department in an equivalent sized industry environment;
- Must be self driven and have ability to work independently, as well as in a team environment, initiative driven and proactive approach, prioritizes multiple tasks, and responsive to meet strict deadlines;
- The company expects a multi fold growth in the near future, both in the business and the employee strength. The candidate would be expected to possess the aptitude & ability to quickly scale up operations basis business requirements;
- Strong verbal and written communication skills in English.
- Functionally will report to the CFO of the Cofle Spa, and to the Board of Directors of Cofle Taylor
- Will be designed as Key Management Person of the Cofle Taylor as per the Company Law provisions
Salary offered: 8-12LPA ( Depending upon the experience )