Team Member - Group Consolidation

Division

Finance

Department

Corporate Finance

Sub Department

Accounting

Job Purpose

Key Accountabilities (1/6)

Ensure standardisation of closing calendar and design templates and drive evaluation of SAGA Group financials for BSR review to ensure accurate trial balance.

• Prepare the closing schedule well in advance for circulation.
• Plan activities and account provisions based on closing schedule through regular and early follow up of activities.
• Monitor adherence to timelines by designing formats wherever possible to save time.
• Improve the rigor of Balance sheet review (BSR) and target automation to improve the same.
• Review Trial balance and do analysis of GL to ensure accuracy.

Key Accountabilities (2/6)

Prepare monthly and quarterly standalone financials in the relevant reporting format as per Statutory Standards for review and presentation to Management

• Collate data and workings required for Financial Statements.
• Prepare various schedules like Property, Plant & Equipment, Capital Work in Progress, Investment Property, Intangible Asset under Development etc and reconciliations of them with financials.
• Compile data for elimination & related party disclosures.
• Compile the variance analysis for major heads of expenses to check on major deviations.
• Update and check data entered into the prevailing filing format.
• Review schedules and carry out analytical review.

Key Accountabilities (3/6)

Liaise and resolve audit queries to achieve full compliance and nil re-raised queries and ensure proof reading annual report prepared annually to achieve error free reporting.

• Liaise with statutory auditors, engage in discussions and respond to close out their queries as and when received.
• Help them with the relevant contact points to facilitate the data from other stakeholders
• Consolidate manuscripts from different contributing teams
• Proofread data against manuscripts, discuss with parallel teams and accommodate suggestions
• Liaise with printer for incorporation of changes and correction of errors

Key Accountabilities (4/6)

Drive automation of various reports and activities to bring in system

• Take initiative to contribute towards improvisation of system functions
• Suggest changes/modifications to SAP and other reporting formats

Mentor accountants to resolve accounting queries and guide them to achieve standard practices and processes

• Assist accountants to resolve queries on accounting
• Guide and help to standardize formats and reconciliations on a timely basis

Key Accountabilities (5/6)

Completion of statutory Audit/ quarterly review without any qualification for statutory compliance and IFC compliances for FSCP

• Manage Quarterly review by statutory auditors
• Manage Annual audit without qualification by statutory auditor
• Completion of FSCP related IFC compliances

Partner with Corporate Functions

• Accounting guidance on business transactions
• Financial Controls review and implementation of financial controls /processes

Key Accountabilities (6/6)

Facilitate Controller forum to improve the hygiene of the financial statements

• Conduct and facilitate controller forum on periodic basis
• Monitor the execution of action points agreed upon    in the forum.
• Prepare annual calendar for controller forum.
• Ensure cross-functional support to close out on action points

Handling related party tool & reporting

• Co-ordination with CS team for addition of new related parties, deletion of existing related parties etc.
• Co-ordination with tax team for maintaining new approvals, changes in existing approvals, monitoring utilization against existing approvals, ratification cases if any.
• Preparing reports for half year stock exchange filing

Major Challenges

Manual Excel based working – Not all data is currently being extracted directly from any system.

Overcome by – 

New tool implemented to avoid manual intervention to collate the data. Related party transaction reporting tools is being implemented

Recurring revisions – Data compiled is subject to constant revisions.

Overcome by – Numbers tracking is done in new tool; person is responsible to monitor the changes with the help of new system and ensure that proper audit trail maintained into the system.

Compiling data from different sources and formats – Data that needs to be compiled from different sources can be a challenge due to different formats and varied timelines.

Overcome by – Standardization of the report is done in the new system. New person shall ensure that standard process as per new design is followed by multiple stakeholders across geographies with different time zone.

Stringent timeline for completion the group consolidation leading to late sitting/ work life balance – proper planning may avoid little bit of this challenge.

Key Interactions (1/2)

Internal

• Accounts payable (FSS) / Commercial / Manufacturing Finance/Treasury (regular interaction) – to check if all accounting and provisions are complete and to seek responses for variance or other observations
• Costing team (regular interaction) – to take data for inventory accounting and provisions, traded purchase regrouping entries & variance reasoning.
• Secretarial (regular interaction) – interaction to share results and similar data for upload, sharing donation working & KMP remuneration on quarterly basis, discuss changes in Annual Report, Accounting of Shareholder related values
• HR (regular interaction) – interact to obtain data for monthly provisions, accounting values for employee cost and compile remarks for variance analysis
• Direct and Indirect taxation team (regular interaction) – interact to account and provide for various taxation entries, Co-ordination regarding RPT reporting.
• FP&A- Sharing Intercompany details & sales data as extracted from SAP/ BPC.
• SAP Support Team (regular interaction) – to liaise to provide approval for entries, suggest changes or modifications in reports, seek help to resolve errors/difficulties in using the system
• IT/Insurance/Admin/Legal teams (as and when required) – to seek answers with respect to any CERs raised, co-operation for Fixed assets verification, budget comparisons, provisions and any other matter related to department accounting
• Various teams with-in finance function and outside finance functions be it manufacturing finance, costing team, treasury team, tax team, BU finance teams etc. for completion of financials on ongoing basis

Key Interactions (2/2)

External

• Statutory Auditors (regular interaction) – close out queries, seek suggestions on fundamental queries or changes in standards
• Internal Auditors (as and when required) – co-operate and provide them data required for the area under audit
• Actuarial/PF/ESOP Valuers (regular interaction) – to get reports, schedules, data, and responses to any new developments or queries.
• Statutory auditors for completion of audit monthly, quarterly and annual basis.

Dimensions

• No. of Subsidiaries/Associates – More than 50 held directly and indirectly
• Turnover and Profit as of March 2026– Above ₹28,000 crores and ₹3,800 crores
• On roll employee count – About 26,000 for Cipla Standalone
• Financials to consolidate and coordinate for audit – more than 50 financial statements
• Team Size – 5-8 members

Key Decisions (1/2)

Decisions

• Routine provisions and accounting entries
• Accounting policies,processes
• Various discussion with auditors/consultants up-to certain materiality level

Key Decisions (2/2)

Recommendations

• Significant change in method for calculation of provisions
• Any change or improvement in formats/financials
• On presentation of financial statements and notes to accounts

Education Qualification

Qualidied Chartered Accountant.

Relevant Work Experience

3-5 years of accounting experience and strong background of controllership role.Knowledge of Accounting and Consolidation (IND AS) knowledge, Communication skills, SAP & BPC tool knowledge and hands-on experience is an added advantage.