Division Finance Head

Job Title:

Division
Finance Head

Reports to:

Direct
reporting:
Division Head

Line reporting:
Cluster Finance Head

Function:

Finance

Business Unit - Cluster:
Consumer Product

Division:
Commodity

Products Handled:
Distribution of Parachute, Al Alali, Amul,
Sunwhite, Syrenn Saffron, Rice, Sugar, Flour and Pulses

• To manage financial & sales accounting in their
  respective divisions/group including JV’s and new project to ensure proper
  controls, policy adherences and periodic reporting’s.
• Report and drive Financial KPI (including appropriate
  escalations for major variances)

Preparation, Review and submission of periodically financial
reports – P/L, Balance sheet along with necessary Annexures and commentary.

Timely submission of the required information/reports to the
concerned HoDs to meet with their operational requirements.

Highlighting major variance (i.e.>5%) between Actuals vs.
previous year / Budget of Profit & Loss and Balance Sheet items to be prepared
and submitted to respective HoD & HO/Cluster-Finance.

Review General / Sub-ledger before closing books.

Review Gross Profit by Agencies / Product categories

Review and report the exceptional items like Legal & corporate non-compliance, slow & non-moving inventory, abnormal expiry,
damaged & stock differences/shortages, thefts, cash shortages, Recoverable
Ageing, Receivable Ageing, etc. to Cluster Finance & HO-Finance.

Ensure implementation of Accounting guidelines/policies from
HO

Ensure proper accounting & maintenance of General / sub
Ledger

Review of all Suppliers payment and capex proposals before
forwarding it to HO/Cluster-Finance for payment/approval

Provisions for aged inventory & receivables as per
company’s policy

Manage the effective achievement of the divisions objectives
through the leadership of the subordinates– setting individual objectives,
managing performance, developing and motivating staff, provision of formal and
informal feedback and appraisal – in order to maximise subordinate and the
performance of the division

Recommend an optimum team structure for the division’s
financial accounting and outsource routine tasks to India team.

Managing effective utilization of working capital deployed
in the Division

Review of borrowing from Head office / banks

Facilitate external borrowings for the JV company’s

Ensuring timely deposit of Customer Collections

Inventory and Receivables are reviewed and adequately
provided as per HO guidelines.

Reconciliation of Customer account, Vendor Account,
Principal’s Recoverable account, Bank account periodically and highlight any
exceptions.

Review and recommendation on receivables to HO-CCC in the
following cases;

• Sales order release request when there is overdue in
  days/amount
• Review of credit limit of customer.
• Review of PDC details in the system & PDC to be deposited
  on due date.
• Raise legal recovery claims for overdue above 1 year
• Review of all the purchases above threshold limit before
  release of purchase orders to the suppliers.

Ensure all promotions, display and other A&P spends are
captured in system as per company guidelines. Escalate any exceptions.

Ensure Timely capturing of all transaction in books

Review of past Internal Audit Reports and report the
progress made on areas highlighted for improvements by Audit.

Prepares tax returns as per law within timelines &
coordinates with Auditors for annual financial closing

Review of commercial/legal documents eg. Agency Agreements,
Contracts, Sub-contracts, Rental contracts etc. and liaise with
HO/Cluster-Finance & HO Legal.

VAT & other tax compliances as per law

Coordinate for…