Head Finance & Accounts Job Vacancy in abc consultants Mumbai, Maharashtra – Updated today

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Full Details :
Company Name : abc consultants
Location : Mumbai, Maharashtra
Position :

Job Description : Job Description
ROLE DETAILS
Role Title – F&A Head CFO
Grade – GM / AP

Business – Adani Welspun Exploration Ltd
Department – Finance & Accounts

Date – 20-Aug-21

PURPOSE OF THE ROLE (This section describes the basic reason why the role exists)
The F&A Head is responsible for ensuring effective financial controls and books hygiene in the BU vertical. The profile will be responsible for :
Accounting and control activities within business e.g. inventory & overhead controls, revenue recognition
Accountability for books of accounts / integrity of the general ledger
Statutory audit
Taxation & other regulatory Matter
Annual Budget & MIS
Accounting procedures, Taxation, laws followed by the Directorate General of Hydrocarbons (DGH) and the upstream E&P industry in India
Cost recovery provisions under the Production Sharing Contract regime
Financial modelling of Oil and Gas Assets under the Production sharing / Revenue sharing contracts for bidding of new assets
The profile reports to Business Head

REPORTING (This section describes the nature of the reporting relationship which exists between the incumbent and the manager)
Functional Reporting – Business Head
Administrative Reporting- Business Head

Number of Direct Reportees – 1
Number of Indirect Reportees – 1

Number of Contractual Employees – 0

CRITICAL ACCOUNTABILITIES (This section lists down the most significant responsibilities of the role which have a clear end result for the achievement of which the role holder will be held accountable)
Key Areas of Accountability

Governance/Assurance-
Responsible for finalization of Monthly, Quarterly and Annual accounts within Group timeline and high level accuracy –
Ensuring adherence of closing schedule of accounts and data submission to DGH and internal auditors for review.
Review of open audit points of previous quarters and bring them to closure by obtaining updates on these matters from respective departments
Attending periodic review meetings with the statutory auditors/DGH to check the audit progress and to address and resolve the queries / data pendency to ensure smooth and timely audit completion.
Review of standalone and consolidated results
Review the accounting implication due to change in IND AS, Acquisitions, new regulation like CARO, MSME ACT etc. and discuss with concerned stakeholder and finalizing the framework and guidelines for compliance
Completion of Cost Audit Ongoing Focus on Books Hygiene & regular review
Review book hygiene and effective internal financial control on key parameters e.g.
Receivable Ageing
Payable Ageing (Incl. GR/IR, Advances, Deposit, Employee advances)
Unreconciled GST Input Credit
Aged Inventory
Bank Reconciliation Open Item
Overhead Analysis
Aged Assets
Balance Sheet Provision
Intercompany Reconciliation
Intercompany Reconciliation
Review of Finance
Conduct monthly meetings with finance team, ABEX and MIS team for discussion on balance sheet items, Books Hygiene parameters
Action plan and tracking for closure for pending items during monthly review
Interface with Corporate Tax, Corporate Affairs and DT and IDT compliance –
Reviewing periodic compliance and tax credit reconciliation ( incl GST audit)
Authorizing GST/Income tax related documents submission with the department ( Incl refund filing)
Assessing quarterly advance tax payout.
Review of income tax audit reports /Transfer Pricing reports.
Ensuring tax opinions for vital tax stands.
To ensure that related parties transactions are at arms’ length with proper documentations.
Planning so as to ensure tax planning due to profit projections due to regulatory orders.
Conducting meetings with central legal, tax advisor, CATO to ensure SEZ act compliance as well as refund filing
Drive compliance of all F&A policies and guidelines within the business (e.g. MSME, GST, Bank accounts, Expense booking in same month etc.)
Drive performance improvement / cost control initiatives coming out of FP&A
Review of commercial NFAs from finance/compliance perspective
Periodic cash flow management
Quarterly Audit Committee and Board Meetings presentation and Analysis Papers
Drive yearly business budgeting process with a high degree of precision and timeliness by working closely with the various teams viz. marketing, business development, operations and services
Preparation of STRAP presentation for Business and period update of the same
Periodic Business MIS
Co-ordination with Revenue team for timely booking of sales
Ensure timely Monthly provision
Detailed Company wise MIS with explanation of every parameters, revenue and cost
Review of company wise profitability compare to Budget and prepare business analysis
Review and circulation of Consolidated MIS to Business team
Review of Abridged MIS, BRM papers
Respond to internal audit observations and drive the implementation of corrective / preventive measures within own BU
Stakeholder Engagement-
Provide accounting Information and other support for regulatory matters (including review of Orders)
Interface with Corporate Secretarial for Secretarial compliance matters
Interface with corporate insurance ensuring policy renewal, claims settlement etc
Continuously benchmark the performance of the business against various parameters like EBIDTA, Per unit contribution etc. with peers within the industry
Where applicable, work with the Marketing / Biz. Dev. to set up credit standards / terms for receivables, collections policy; setting working capital targets based on cash-flow requirements/ typical cash pattern for BU
Drive Continuous Improvement Projects to bring efficiency and controls in F&A processes
People Development-
Create development plan for all the team members
Review development plan and Guide team
Build and develop F&A team capabilities through coaching/mentoring/Internal job rotation/Training

CHALLENGES
Closure of aged open items in various accounting parameters
Collaborate with HO, Site, Corporate, SSC and User Departments for various activities
Support to Ongoing Merger and acquisition and Financial restructuring

KEY DIMENSIONS (This section lists the factual, quantitative and financial information particularly relevant to the role which helps to reflect the scale and scope of the role)
Monthly closing of all entities with detailed financial review and MIS

ROLEHOLDER REQUIREMENTS (This section lists the acceptable proficiency / threshold in terms of education, qualifications, training and experience necessary to enable the role holder to perform effectively in the role)

Qualifications:
Post-graduate qualification in Commerce, Business or related areas, Preferably Chartered Accountant

Experience:
20 + years of experience in Finance & Accounting
10+ years exposure to energy /infrastructure business, preferably in the upstream E&P business
Good knowledge of Tally, SAP, Ind AS, Companies Act, Direct-Indirect Tax Laws
Worked with large teams, across sites/ geography

BEHAVIOURAL COMPETENCIES
No.
Competencies
PL

Company Behavior Competency

1
Strategic Orientation
PL 4

2
Entrepreneurial Mind-Set
PL 4

3
Stake Holder Partnering
PL 4

4
Outcome Orientation
PL 4

5
Transformation Mind-Set
PL 4

6
Innovation Focus
PL 4

7
Team Orientation
PL 4

8
Employee Development
PL 4

Key Skills
Finance
Education
CA

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