About Virtuous Retail :

- Founded in 2007, Virtuous Retail is the only institutionally-backed integrated retail platform that designs, develops, owns, and manages community-oriented lifestyle centres across India. VRSA's current pan-India portfolio is 14 million sqft., with four operational flagship centres VR Surat, VR Bengaluru, VR Chennai, and VR Punjab, two recent acquisitions undergoing upgradation to VR flagships at Ambarsar and Nagpur, a soon-to-be-launched second centre in Bengaluru, and two projects under development in Delhi and Mumbai.

- Over the last 13 years, Virtuous Retail has redefined the spatial retail experience for consumers by delivering innovative centres that seamlessly integrate shopping, hospitality, food, leisure, and entertainment. These award-winning lifestyle centres are designed and operated by Virtuous Retail as social hubs that are - Connecting Communities-, contributing significantly to India's economy, and enhancing the overall brand image of the city they are located in by celebrating the local culture.

About the Opportunity: 

- Besides an attractive remuneration package, working for Virtuous Retail gives you the opportunity to join a high-growth real estate platform that is leading the transformation of urban spaces across India. In this role, you will be working directly with the company's senior management, and will get to immediately create a meaningful impact across several projects, including INR ~2,400 crore and INR ~1,500 crore city center developments underway in Mumbai and Delhi respectively. The team is fast paced, hard-working, and results-oriented, and we are committed to providing you the opportunity to move ahead more rapidly than is possible at most other places in this industry

Core Responsibilities:

- The Vice President - Development Finance will be responsible for leading the entire finance function for Virtuous Retail's pan-India development portfolio, including but not limited to financial planning and analysis, accounting, MIS and reporting, taxation, compliance, treasury & banking, and finance transformation projects. The VP will assume a leadership role with oversight of all finance and related personnel - both internal employees and external services providers - in producing accurate and timely financial information for presentation to VR's senior management, board members and stakeholders.

- The VP will be senior management's single point of contact in respect of the development portfolio's financial planning and analysis. He/she will ensure the relevant business heads are kept informed through both informal communications and regular formalized presentations, highlighting key findings, strategic recommendations and requests for approval.

- The VP will take responsibility for all fund movement (both debt and equity) through the development lifecycle, ensuring both sufficient liquidity and efficient use of capital at all times. The VP will ensure maintenance of accurate and complete financial records, implementation of all necessary controls and audit processes, implementation of appropriate financial system infrastructure, and ensure consistent application of best practice and procedures across all projects.

Key job responsibilities include: 

- Lead finance & accounting function for the development portfolio, driving strategic transformation initiatives, operations and infrastructure to improve the overall performance in the areas of finance & accounting, MIS and reporting, taxation, compliance and treasury & banking

- Lead financial analysis and planning for the development portfolio, including: budgeting, forecasting, project cashflow, quarterly / annual capital call forecast and annual operating plan

- Manage liquidity for all SPVs under the development portfolio, optimizing for capital efficiency and calling capital as required

- Lead the procurement of all debt financing facilities (together with the relevant business head), managing the development loan book through the entire project lifecycle including progressive drawdown, covenant testing etc.

- Develop the monthly MIS format and ensure timely production, analyzing the findings and presenting key summary and recommendations to senior management - Provide direction, leadership, and oversight of all finance and related personnel, internal and outsourced

- Implement internal audit processes to ensure accurate and timely information and regulatory compliance

- Oversee production and review of all quarterly and annual financial statements

- Drive finance transformation initiatives in areas such as procurement, technology, outsourcing etc.

- Lead implementation of relevant finance & accounting software applications, ERP systems etc.

Qualifications / Experience Required:

- A qualified Chartered Accountant, with minimum 10 years post-qualification experience and 5 years experience leading teams

- Relevant Undergraduate degree, in addition to an MBA from a leading institution

- Real estate industry experience, ideally with a minimum of three years- experience working on a development project of greater than 300 cr.

- ICSI qualifications are a plus

- Knowledge of FEMA - FC-GPR, FC-TRS, DI, FLA; Companies Act 2013; IND AS

- Experience in issuer-side compliance of private & listed debt securities

- Proficiency in Excel and preparing spreadsheet reports

- Experience implementing ERP systems, specific focus on finance & accounting modules

- Experience in construction management software and property accounting systems such as Yardi, Aconex, Procore etc. a plus

Preferred Qualities:

- Outstanding communication and negotiation skills

- Excellent organizational and time-management skills

- A team player with leadership abilities

- Hands-on experience and attention to details

- Excellent communication and interpersonal skills

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