Head - IT Finance & Procurement - BFS

Head IT Finance and Procurement

Employment Type: Full-Time

Location: Kolkata (Head Office)

Department: Information Technology

Grade - VP/ DVP

Reporting: Head IT Strategy

The ideal candidate for this role should have min 14-16 years active experience in Finance and Accounts, Budgeting, MIS / Reports, Auditing, Commercial Operations (Procurement) with an ability to think tactically and strategically to provide direction to different stakeholders. The candidate should have the ability to provide a decision support information related to Finance / Budgeting/Procurement for stakeholders (including executives) to make appropriate decisions.

Determining objectives, designing and implementing systems, policies and procedures to facilitate internal Commercial and process controls. Person should have a deep understanding financial considerations of key suppliers and deep experience in formulating annual budgets, conducting variance analysis and implementing corrective actions

Responsibilities:

- To keep the risk of the department/units within risk appetite of the Bank

- Managing vendor payments as per the payment terms and conditions mentioned in the order.

- Verification of provisioning of IT expenses for the financial year in consultation with F&A.

- Maintain detailed records for financial analysis

- Preparation of 5 years IT Budget, Tracking and Cost Controlling.

- Responsible for procurement of IT equipment, software, hardware, solutions for projects, which includes understanding of the business requirements, expansion plans of the bank, approval procedure as per the DOP.

- Ability to understand costing parameters as per the product, solution which would be procured for the bank.

- Responsible for verification of the price comparison sheet among the E-Waste Vendors and approval notes as per DOP, and presenting it to IT senior management for decision making.

- Adherence to Regulatory compliance and internal audit

- Team Management - Ability to manage a team to achieve your target. Distribute tasks amongst the team members, proper follow up, dispute resolution etc. are part of your team management.

- Order Management - Managing order release after scrutinizing the payment and pricing terms, tracking the orders and reporting monthly MIS to F&A.

- Vendor Management - Managing existing and new vendors efficiently to ensure that proper procurement procedure is followed and scope and services are being finalized and delivered as per the business requirements.

- Financial Management - Maintain & Analyses of Budgets & Forecast

- Finance Reconciliation , AP matters and Accruals

- IT Finance related issues like for Vendor, Payment status, Vendor Addition

- Vetting of documents required for PO

- Bill Processing

- Vendor Price Negotiation (IT Items)

- Vendor Reconciliation

- Budgeting and Variance Analysis.

- Identify and analyse opportunities and make tactical/strategic recommendations

- Stay abreast of current regulations, tax laws, and accounting practices

- Provide training to new and existing team members

- Cost Control

Requirements and Skills

- Proven work experience as a Head of IT Finance similar role.

- Financial services industry experience preferred (specially in Indian banks)

- Proven experience as Head IT Finance and Procurement

- In-depth knowledge of finance and accounting principles and best practices.

- Solid knowledge of financial analysis and forecasting

- Proficient in the use of MS Office and financial management/ Accounting software (e.g. SAP, Oracle EGL )

- Hands-on experience with budgeting and risk management

- An analytical mind with a strategic ability

- Excellent organizational and leadership skills

- Outstanding communication and interpersonal abilities

Education Level and Background & Experience:

- Senior stakeholder management

- Process review, optimisation and benchmarking

- B.Com in accounting, finance or relevant field; post-Graduation in Commerce is a plus

- CPA or other relevant qualification is a plus

- Min 14-16 years exp. in IT Finance and Procurement with 8-10 years of working experience in the BFSI segment.