Cluster Finance Manager

Division

Finance

Department

Commercial Finance

Sub Department

One India Business Generics

Job Purpose

Financial Operations & Control is responsible for overseeing end-to-end financial operations, ensuring strong internal controls, compliance with regulatory requirements, and driving process efficiency. The role supports strategic decision-making through accurate financial reporting, risk management, and performance monitoring.

Key Accountabilities (1/4)

1.Business Control and Financial review

Accounts closing: Monthly Accounts closing by ensuring all the sales and expenses provision accounting and variance analysis.

Control Framework & Audit:

• • Stock audit on quarterly basis from audit firm and review and recovery of losses for shortages and for insurances for damages.
  • Regular review and monitoring the control framework for CPLS.
  • Manage and coordinate for timely completion of IB audit observations and ensuring no repeat audit points.
  • Time to time review of IFC controls and ensuring proper check on the same.

Key Accountabilities (2/4)

2. Control and Compliances

• Ensuring controls and compliances from tax and other statutory areas.
• Ensuring timely preparation and review of business hygiene parameters, to provide management detailed view by highlighting improvements, exceptions etc.
• Time to time review and addressing exceptions if any.

3.Indirect Tax

• Partnering with GST team to ensure GST compliances in place.
• Reviewing tax ledgers and workings.
• Review Input Tax credit and ensure 100% compliance.
• Coordination with various stakeholders for settlement of various claims.
• Partner with Corporate for filings and any other statutory requirements

Key Accountabilities (3/4)

4. Direct Tax

• Preparation of tax movements, tax provisions, advance tax workings, true-up / true-down based on ITRs
• Providing data and supporting to tax audits
• Partner with Corporate for filings and any other statutory requirements

5. Inventory

• Reconcile the stocks movement and inventory position at C&As.
• Approval for Stock adjustment for shortages and excess and recoveries of insurances claim.
• Partner with costing and distribution team to ensure accuracy and completeness.

Key Accountabilities (4/4)

6. Partner to Win

• Validation of Rates.
• CRM/ Market visits / Depot visit: Market /depot visit to understand the market practices / operations at depot.
• Simplification and Automation: Automate processes for better compliance management.

7. Audit Partner

SPOC for all IFC, Internal and External Audits for CPLS. Ensuring close coordination and provision of all details on a timely basis. Control Framework & Audit: 

• Manage and coordinate for timely completion of IB audit observations and ensuring no repeat audit points.
• Time to time review of IFC controls and ensuring proper check on the same.

Major Challenges

• Managing dependency on multiple IT systems.Overcome by: Support IT team in integrating all stand-alone systems and ensuring simplified process.

• Managing statutory compliances and controls.Overcome by: Coordination among multiple stakeholders to ensure business operations in compliant way.

Key Interactions (1/2)

INTERNAL

• Corporate team and FSS team (Monthly) to the day today operation.
• Business Teams (Finance and Marketing): To understand the schemes lunched in the market.
• Audit team: Co-ordinating with early completion of audit.
• IT team (SD and FI) - For project basis IT support.
• Tax team: As and when required for various queries.

Key Interactions (2/2)

EXTERNAL

• Customer / Agent’s staff or team and Marketing team.
• Internal Audit: for audit related requirements.
• External Auditors: for finalisation of statutory audit observations.
• External Vendors for IT projects like DSAS revamp, Customer connect.

Dimensions

• Stock movement reconciliation – inventory of ~ 600cr
• Ensuring Bookkeeping and Financial closures as per corporate timelines
• Handling Stock audit, Internal audit, IFC audit Statutory audits as per timelines
• Interacting with Depots, Stockists, Business teams, accounts team on regular basis.
• Interacting with Support functions (IT, FSS, Corporate accounts)

Dimensions:

• Revenue Contribution - Rs 2000 cr 
• Cost Spend Pools – Rs 1500 Cr
• Management contribution – Rs 700 cr
• EBITDA – Rs 500 cr
• No of SKUS. - 600+
• Clusters – 1
• Inventory – Rs 700 crs
• Stockists – 6500
• Geography – All India – Sales Team:800
• Cross Function Interactions – Corporate accounts team, FSS team, IT team, Tax team, Distribution team, Business (Marketing and finance) teams etc.

Key Decisions (1/2)

INTERNAL

• Corporate team and FSS team (Monthly) – for book closure activities.

• Internal Audit team: Audit closures, compliances.

• Tax team: As and when required for various queries

• IT team (SD and FI)- For project basis IT support.

• Business Teams (Finance and Marketing): For provisions finalisation, compliance related matters, inventory hygiene etc.

• Distribution team, Depot teams (Daily basis) – For depot related activities and queries if any.

Key Decisions (2/2)

EXTERNAL

• CFAs / Stockists / Chemists: to gain business insights and to know market practices and ensuring compliances.

• Internal Audit team: for finalisation of audit observations and discussion of action points.

• External Auditors: for finalisation of statutory audit observations.

Education Qualification

Qualified Chartered Accountant 

Relevant Work Experience

Required 3-5 years of work experience.