Financial Analyst - Temporary Assignment

Job Purpose

The job holder plays a key role in providing both operational and functional support by, managing and directing the financial accounting in functions such as credit, GL.Financial Accounting Manage the financial accounting function of all joint ventures and associates with responsibility to ensure proper periodical closure of books as per agreed timelines for reporting to management.

Responsible to monitor and control performance of the GFS for the segment related activities under GFS purview.

Ensure implementation of international financial accounting standards.

Responsible to ensure compliance to DOA and credit policy. Also, responsible to update DOA and credit policy in coordination with Group Finance to best suit the business.

Credit Analysis & Credit Control:

Ensure weekly/monthly credit review meetings are conducted with respective Marketing Departments as per guidelines outlined in respective credit policies. Make sure minutes of the meeting are prepared and circulated and followed up on the outstanding status with the marketing personnel.

Conduct credit committee meetings of Marketing companies with all concerned and documenting it with formal MoM that is shareable with Marketing Management team after every meeting.

Review annual credit limit conducted by the team for all the existing customers of all the businesses by analyzing average sales, average collections, maximum credit exposure, security available.

Review and evaluate customer credit application forms for customer account opening.

Analyze and recommend credit periods, credit terms, allowable credit exposure and securities limits for all new customers.

Ensure that credit violations are being approved as per the DOA hierarchy.

• Review ECL working and discuss possible changes in the working with external auditors
• Review write off cases and make sure supporting documents are provided
• Maintain Credit-Smart Dashboard
• Ensure that details of all returned cheques are intimated to the concerned departments as soon as the cheques bounce and to follow up on further recovery actions.

Coordinate to ensure that receipting, remittance and banking of all cash and cheques are done on time. Follow up with business on open creditsEnsure monthly receivables KPI is worked out and communicated with the businesses on the sameVisit customer places to obtain financial information and to assess the credit worthiness as and when required.

Payments ControlEnsure AGIS, PRs, claims, cheques and payments are allocated to right charge code, captured in the GL on time, and are processed to the vendor.

Supervise the day to day functioning of the account payable section to ensure timely and accurate booking and payment to vendors.

Ensure necessary approvals are obtained prior proceeding for payment.

Monitoring and controlling of monthly closing for accounting: Control and supervise the maintenance of books of accounts and review monthly accounts upon closure as per agreed timelines.

Coordinate and control the preparation of periodic and year end GL schedules for the accounts.

Review opex analysis report and detailed explanations on the variances.

Ensure corrections are done within the same period.

Ensure interfaces are run and reports are reconciled with GLEnsure compliance with the fast quality close timelines and Flash reporting.

Intercompany Reconciliations:

Make sure quarterly reconciliations for Intercompany accounts are maintained and follow up with the respective companies for the clearance of open items /issues are occurred.

Make sure of that the circulation of all AR Balances and Statement of Accounts to the respective staff in the Group Co’s.

Others:

Monitor the working capital requirements of the business units, works with Group Treasury on the management of Segment borrowings and foreign exchange requirements.

Track and monitor the correctness of VAT liability being captured in the system for all AP and AR invoices.

AuditOverall responsibility for the planning of the interim, hard close and final statutory audits of the Business Units in discussion with Financial accounting section of group finance.

Overall responsibility in overseeing the conduct of the government, external and internal Audits of the business units and compose responses to observations in the auditor reports on business related financial activities.

Coordinate with the external auditors on interim, hard-close and final audits by managing the compliance of statutory audit requirements for the business units and ensuring the timely completion of audits.

Due DiligenceResponsible for implementation of Corporate Governance framework specified by Group.

Ensure business dynamics are reflected appropriately in the framework creation and ensure a framework involving Delegation of Authority limits, financial policies and procedures, documentation standards and transparency in transactions.

Responsible to monitor and control performance of the GFS for the segment related activities under GFS purview.

Coordinate with IT for any system development, automation, and implementation in all the fields (AR, AP, GL)Regulatory SubmittalsManage the overall submittal timelines and provides guidance and clarification on doubts including resolution of issues arising out of those submissions.

Special AssignmentsAssist the Segment Finance Head with ad hoc projects and special assignmentsParticipate in various committees either as member or special invitee