Jetking - Senior Manager - Accounts & Finance

Job Details :

Title/Designation : Senior Manager - Accounts & Finance

Reporting to : JMD & CFO

Department : Finance

Job Dimensions :

Financial Dimension : Annual collections of Rs. 100 cr. with aspirations of Rs 500 cr. over the next three years with corresponding expenditure and investment budgets

Number of Staff Supervised (Direct) - 10

Total Staff Supervised (Direct + Indirect): Approximately 20 to 25

Job Purpose :

- To manage the operations of the Accounts and Finance function at the Corporate and Own Centres ensuring timely and accurate Financial Statements and compliance with regulatory requirements

- To minimize revenue leakage at franchisee centres through institutionalizing an effective Internal Audit process to ensure timely billing, collections and compliance with process norms

Key Accountabilities :

Responsible for the preparation of timely and accurate financial statements and ensure their integrity :

- Ensure on-time preparation of Consolidated Financial Statements for the Company in compliance with generally accepted accounting Principles

- Comply with all mandatory reporting and disclosure requirements

Responsible for managing the working capital requirements of the Company by managing receivables effectively :

- Ensure timely issuance of debit notes for expenses incurred and collection of royalty from business partners Implement Risk Management Practices

- Oversee the implementation of an efficient risk control mechanism e.g. Internal Audit across the franchisee network

- Prepare an Internal Audit plan for all centres ensure adherence to the audit schedule

- Closely monitor and resolve the issues highlighted in the Internal Audit report of the centres

Budget consolidation, reporting and controlling :

- Prepare the overall annual budget, monitor usage of funds and variances versus budget

- Oversee preparation of periodic MIS reports and analyze performance regularly

Treasury and Funds Management :

- Provide inputs to the Officer - Treasury in identifying and evaluating investment opportunities in line with the long term goals of the company

- Ensure availability of funds to meet day to day requirements

- Minimize cost of funds

Policy formation and Compliance :

- Assist the CFO in formulating, documenting and implementing financial policies and procedures to enhance overall profitability for the company.

Reporting to the BOD on key issues :

- Assist the CFO in reporting to the BOD on key issues

- Assist the CFO report on issues highlighted by the Internal and External Auditors

People Management :

- Ensure professional development of his team through periodic training, appraisals, and morale building activities

Key Performance Indicators :

- Financial statements issued on time

- Qualifications in the Auditors- Report

- Queries from Regulatory Authorities pertaining to the Financial Statements

- Amount Overdue

- Days Overdue

- Deviations identified in the Internal Audit Report

- Deviation from Internal Audit Plan

- Number of MIS reports available in SAP

- Accuracy of MIS reports

- Availability of funds to meet all budgeted expenses

- Average WACC

- Deviations identified in the Internal Audit Report

- Attrition rate

Operating Environment :

- The Finance function is pre-dominantly centralised with regional teams for Franchisee account management but the key activities will be executed at the Corporate Office in Mumbai

- There are Accounts teams deployed at the ROs, to manage the day to day recording of transactions. They report functionally to the - Manager Accounts and administratively to the Branch head (where they are located)

Communication & Working Relationships:

- Ongoing communication with the ROs and functional heads to co-ordinate information flows and comply with reporting requirements

- Periodic communication with the CFO and the Board of Directors on operational and strategic matters pertaining to Finance

- Liaising with the Statutory Auditor to manage the annual audit process

- Liaising with the Internal Audit firm to ensure timely and effective execution of the Internal Audit across the franchisee network

- Periodic communication with the franchisees for collection of dues

Decision Making :

- Oversee day to day functioning of the Finance department

- Role definition of the key people reporting to him

- Decisions pertaining to defining and implementing Financial procedures for efficient cash management

- Optimal allocation of funds and investment of surplus

- Decision on manpower planning and budget for the Finance department

Qualifications, Experience, Knowledge & Skills :

Qualifications : Professional qualification in Accounting

Experience :

- 4 - 5 years experience in an audit firm

- 8 - 10 years experience in the Finance function of a large Public Limited Company with experience of Balance Sheet Finalization.

- Exposure to Treasury and Financial Management practices

Skills :

- Thorough understanding of Accounting and Financial Management practices

- Knowledge of the legal and regulatory and regulatory environment in India and overseas

- Knowledge of Corporate Governance practices

- ERP knowledge preferable

Competencies :

- Strong negotiation, analytical and interpersonal skills

- High-energy individual, who should have the ability to multi task