To plan, lead and coordinate the finance activities of the respective business segment, in close proximity with the Group Director Finance, EDs, MDs and CEOs, and ensure appropriate financial and regulatory health of the business segment
Roles & Responsibilities
Work in close coordination with ED/MDs on development of strategy statement and annual operating plan for the respective Business Segment as per the corporate guidelines
Work in close coordination with ED/MD/CEOs on strategic and operational decision making and evaluate the strategic direction of the business segment in terms of long term and short term borrowing.
Introduce and monitor financial discipline at the respective business segment by ensuring strict inventory and credit control, developing and implementing effective financial management information systems and designing robust standard operating procedures
Examine the structure of balance sheets of the group, the strength of workflows, procedures, policies and controls and suggest improvements if any
Identify opportunities, ensure financial due diligence and study feasibility for mergers and acquisitions, JV\'s for entry into new segments / products across the respective business segments
Support the GD Finance in creation of 3 year Growth Play Book and Financial Operating plans
Partner with EDs and MDs to drive business performance and operational and strategic decision making, drive business performance and facilitate structured business reviews
Drive the budgeting exercise across the Business Segment, obtain the required approvals and communicate the final budget to the key stakeholders
Identify and mitigate financial risks associated with proposals for financing business growth and identifying new business opportunities
Provide functional expertise to the business unit finance teams and periodically review and monitor financial performance of business units against approved projections, key performance indicators and budgets
Establish effective and robust financial accounting and cost accounting systems so as to provide timely, accurate and consistent inputs for management reporting and allowing detailed analysis of performance in financial terms
Ensure strict compliance with applicable laws , statutory/ internal audit requirements, Group policies, including DOA, Accounting Manual and other finance Guidelines
Lead timely completion of internal and statutory audit, achieve closure of deviations/observations and ensure compliance with applicable laws and audit requirements at the business segment level
Provide guidance to BU Finance Heads for managing working capital in a cost efficient manner across the Business Units
Support GD finance in business acquisition, restructuring and disinvestment initiatives
Perform thorough risk assessment, understand the risk exposure and devise strategies to safeguard the business segment assets
Closely monitor the procurement strategy, capital expenditure and the release of funds to various business units in alignment with the allocated budgets
Provide top management / Board with timely reports on Business Performance(Budgeted vs actual profits/ MIS reports) and Financial health for the respective Business Segment
Establish robust mechanisms for timely clearance and payment of vendor/ supplier/ salary payments
Ensure generation of daily margin report to gather information about the gross contribution by different channels
Track mark to market of the goods produced across all the companies so as to have a fair value position by the company and a fair value position by the goods produced
Review corporate governance and regulatory compliance for Finance processes at the Business segment level
KPIs
Return on Capital Employed
% adherence to revenue and capital budget
% adherence to regulatory compliance
Completion of annual budget planning exercise within the defined timeline
Timely preparation and release of various financial & reports
Performance on key metrics around financial health of the organization/ Business Segment
Number of internal and external audit non compliances
Number of special initiatives implemented / optimized
Number of Team building and development initiatives undertaken
Work experience requirement
15+ years of related experience in a FMCG company, with at-least 8-10 of those being in Senior Leadership positions
Qualification
Professional qualification (CA/CPA/ACCA/ CIMA/ICWA) or equivalent
MBA with specialisation in Finance from a reputed Business School will be an added advantage
Competencies
Business Acumen
Financial planning and Analysis
Financial Compliance
Knowledge of International and/or Local Laws and Regulations