VACANCY DETAILS :-
POST NAME - Assistant Manager Finance
QUALIFICATION - CA\CMA
EXPERIENCE - 0 To 5 Years
POSTS - 2
LOCATION - Bangalore
JOB DESCRIPTION :-
Business Finance Product portfolio and market information
Budgets
1. Prepare the budget based on discussions with BD and other cross functional teams along with detailed note on assumptions, explanations, action points and tracker list at a product level 2. Understand the basis on which the budgets have been drawn in terms of MS, pricing, timing of launch, etc. and ensure that these are based on execution strategy 3. Monitor the business and execution strategy, impact on budgets and action points for Management in the form of an exhaustive tracker, which is to be updated and presented on a regular basis 4. Prepare and maintain a log of potential risk to the budgets along with proposed mitigation plan, timelines, PIC post discussions with cross functional teams
Financial performance and predictability
1. Maintain month wise, quarter wise revenues, gross margins - budget and actuals for the last 12 quarters 2. Understand the actual performance against budgets in detail at SKU level/customer level and highlight trends. 3. Work closely with the manufacturing / planning team and logistics to understand execution of orders, potential delays and its impact on business and margins 4. Identify key drivers for all products, maintain tracker for the drivers to ensure that it is tracked real time and risks/upsides are highlighted regularly 5. Update forecasts on a real time basis, based on key market trends and share it with teams 6. Highlight potential risks and action points, update on action points, deviations, etc. on a real time basis 7. Update wire frame reports and formats 8. Given that the predictability of business is the single largest critical factor, asking the right questions to business and operations will be critical 9. Revenue recognition- To ensure that the revenues are accounted as per the accounting standards. Work closely with cross functional teams to ensure that there are no deviations and provide early warnings in the event of any deviations
Contracts
1. Maintain master list of all contracts with summary and key terms to be monitored 2. Track all key triggers real time and update the teams on a regular basis Customer master 1. Maintain and update customer master list which captures all the information regarding the product supplied, market/region, start and end date, supply commitment, prices, credit limit, credit terms, other key contract terms, profitability, FTS, termination clauses, etc. 2. Keep track of terms/contract commitments which could have a potential impact (positive or negative) and update the team on contract compliance on a regular basis Customer calls 1. Attend all key customer calls to understand their business and market trends and its relevance/impact to Strides 2. Share minutes of these calls to the team with a tracker on action items for closure New opportunities Work closely with the business team in identifying/bidding for new opportunities by way of market research, cost optimization measures and in any other manner deemed fit Working capital 1. Prepare and analyse the monthly/quarterly/yearly working capital levels for each of the business and provide reasons for trends and variance vs budget 2. Management note based on above to be prepared for discussion and for any actionable items 3. Analyse the WC items to arrive at possible solutions/initiatives to optimize the WC levels 4. Prepare a tracker and monitor the execution plan for optimizing working capital levels and present the same every month with key highlights 5. Closely work with cross functional teams to identify, discuss and address all WC related items.
Receivables
1. Maintain and update the weekly receivable statement, customer wise and invoice wise with information on overdue, ageing of overdue, reasons for delay in collection and collection plan. 2. Follow up with customers on collections and ensure that the invoices are settled on time. Highlight the potential delays in advance to the treasure/cash flow teams so as to manage cash flows and work on mitigation plan along with the business teams 3. In the event of any consistent delays/default, build internal controls (credit limit, contractual reduction of credit terms, etc.) to reduce the receivable/collection risk 3. Work closely with the treasury team and cash flow team to update on collection status and forecast collections on a real time basis 4. Have weekly collection meetings with business and treasury teams
Inventory
1. Beginning of every year, agree on inventory norms with the business and procurement teams at product level and factor the same in the budget with rationale. Ensure that these are justified from a business stand point and that for any variance, the reasons are justified and documented 2. Analyse the inventory levels to ensure that the same is adequate and that there is no over stocking or under stocking as per the inventory norms. Discuss and understand reasons for higher or lower stock levels and ensure that this is justified. On a periodical basis, share the report on inventory levels with the teams with key highlights. 3. Ensure that the POs are placed based on agreed inventory norms 4. Prepare and analyse inventory reports including the following and provide reasons for key trends and variance vs budgets: A. FG - Product / SKU wise ageing (based on purchase date) B. FG - Product / SKU risk based on expiry date C. Inventory holding based on forward sales D. RM/PM - Ageing based on purchase date and risk based on expiry date E. RM/PM holding based on forward consumption/manufacturing plan F. Prepare a tracker and monitor the execution for optimizing the inventory levels Payable 1. Maintain and update the monthly payable statement, vendor wise and invoice wise with information on overdue, ageing of overdue, reasons for delay in payments . 2. Ensure that the invoices are settled on time. 3. Work with the SCM teams to ensure that there is no risk, which will have an impact on the supplies or rating from the vendor 3. Work closely with the treasury team and cash flow team to update on cash requirements on a real time basis 4. Have weekly meetings with SCM and treasury teams Cash flow statements Analyse and present the cash flow statements for the business Higlight key drivers, issues and recommendations/suggestions to improve cash flows Initiatives To come up with a minimum of 2 initiatives every year, which will add value to the business or operations
Establish strong cross functional relationship
To establish strong cross functional relationship with teams like ops, logistics, legal, tax etc. to perform the role in an effective manner and also in achieving overall organisation objectives
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