Head of Finance

Ikya Human Capital Solutions Pvt Ltd
  • Bangalore
  • 10-12 lakh
  • 10-15 years
  • 570 Views
  • 15 Sep 2016
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  • Finance/ Accounts

  • IT/ Technology - VLSI/ ASIC/ EDA/ Semiconductor
Job Description

Role of the head of Finance :

This role is responsible for maintaining books of accounts, monitoring and executing year end timetable and other closing activities to enable timely internal management and statutory reporting.
The role is expected to oversee statutory audit process, interface with the external auditors where required.
In addition the role is expected to conduct analysis and review on monthly basis and provide timely insights into the performance of the company.
Responsible for providing accounting expertise and support in resolving accounting dilemmas.

Controls & compliance :

1. Responsible for Maintenance of Control Framework which includes policies, processes, support in Risk and Controls identification and advise on Controls required for Key Transactions.

2. Work with the business in the application of business and finance risk & controls. This includes application of risk framework in identifying risks and prudent responses.

3. Ensure simple and easy to understand financial controls are in place and properly followed for these transactions

4. Monitor legal and fiscal compliance and report for intervention should any non-compliance arise.

5. Drive overall continuous process improvement and standardization by leading or participating in any process improvement projects.

6. Reviewing purchase contracts and fixing guidelines for Cash / Credit purchases.

7. Stock audit, identification of slow moving non moving items of inventory and monitoring disposal.

8. Product Costing and Pricing. Advising on cost control to top management. Verification of revenue leakages.

Management information/analysis/Management team participation :

1. Provide decision support through business performance analysis and appraisal.

2. Be a proactive member of the management team provide active contribution and challenge to various stakeholders.

3. Regularly appraise operations with strong emphasis on forward looking analysis.

4. Deliver performance management with and for the business

5. Drive value/cost management across Operations by implementing robust cost control procedures with clear accountability and ownership

Credit Control oversight:

1. Ensure simple yet robust credit processes are put in place to evaluate customer credit.

2. Regularly review the customer profile, market conditions impacting the customer and surface risk/opportunity in providing credit to customers.

3. Monitor dues and overdues. Draw attention to areas of emerging concerns in a timely manner.

Budgets, Cash, Bank & Balance sheet:

1. Prepare regular cash forecasts; to assess funds requirements.

2. Work with the MD on appropriate funding strategy (debt vs equity).

3. Liaise with the banks/financial intuitions for securing appropriate funding.

4. Regularly review the balance sheet. Unrealisable assets and understated liabilities should be brought to Managements attention.

5. Estimate the impact of future business plan on the balance sheet and identify risks/opportunities. This is seen as a key responsibility for this role towards maintaining the financial health of the company

6. Resource planning by introducing budgetary systems. Budgets are prepared to achieve certain volumes department wise Sales, Production and Personnel and Administration - that is discussed at various levels. These are normally annual budgets that are reduced to monthly budgets for easy execution. Includes both Capital and Revenue budgets. Monitor the variances in budgets and draw attention to areas of emerging concerns in a timely manner. This also requires understanding and designing of corporate policy.

7. Budgets are managed through collections and disbursements. (Debtors Management) Finance head will meet the Production/Purchase and the Sales team at periodical intervals. This is a very formal exercise.

8. Foreign contracts buyers credit / sellers credit and exchange risk management.Monitor the currency exchange rates and take appropriate steps to prevent loss from foreign exchange transactions.

Capital investments and new projects.

1. In an uncomplicated manner perform basic economic evaluations and challenges of investment proposals, capital investments, and other projects / initiatives carried out in Operations including cost / benefits tracking of the projects.

2. Ensure investment decisions comply with the philosophy and strategy set by the MD.

Team Management:
- Coach the finance team to develop and work as a business enabling function

Cultural:
Be open. Communicate good and bad. If any issues just ask. We need full alignment within the team. Disagree based on facts and data and be driven to finding a solution along with others rather than merely stating an objection. Give feedback without restraint; compliment others and recognize the good, also without restraint.

Location: Bangalore

Team Details: Four/Five members at the level of Accounts Assistants with experience between 3 to 6 years in the field of accounts.

Travel Involved :Travel as required by business needs to branches. Appropriate travel and accommodation costs will be met.


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