Job Ref
No.: SMF-MAA-26417
About Our Client
Our client is a Chennai based group of companies
engaged in marine industry for the past 50 years with 14 branches in maritime
states of India with a network of 43 Dealers and 120 Authorised Service Centres.
They are sole representatives for decades for a hand full of MNC brands supplying
Marine engines, lubes and other items to the marine industry.
Desired Profile
Qualifications - Any degree, preferably B.Com (Nice
if you have a PG in finance)
Experience – 10 + years with core competency
in handling Finance matters
Desired Skills
Candidate
should have the ability to handle the below mentioned functions
a) Banking Operations:
·
Experience in handling with different Bankers
·
Complete knowledge on Letters of credits / Bank
Guarantee / Buyers Credit / Packing Credit /Cash Credit management
·
Basic experience in handling forex transactions
like forward Contracts and meeting the obligations on due date
· Stock statement and QIS to bankers on due dates.
· Preparation of CMA data for renewal of Working capital limits.
· Bills discounting ( customer bill + supplier Bills
· Ensuring payment on due date to monthly loan instalments.
· Complete coordination with bankers with an ability to convince bankers for day to day transactions.
· Monitoring all Current Accounts across all regions and ensuring adequate funds available.
· Ensuring Bank Reconciliation is performed for all branches / banks and passing entries on due date
· Ensuring proper maintenance of Petty Cash at HO/ Factory / regions.
b) Working Capital management
(1) Receivable management
· Management of receivables by analysing the reasons of outstanding and preparation of statements.
· Monitoring the credit policy of each business and ensuring adherence customer wise.
· Driving collections by talking to each branch / customer
· Special Drive on Debtors over 180 days.
· Monitoring reconciliation of customer Ledger.
· Follow up of C Forms in co-ordination with Accounts.
· Accounting of customer receipts, issue of Credit and Debit Notes
(2) Inventory Control
· Monitoring Inventory business wise by closely working with Business team.
· Ensuring stock levels before opening of LC and ensuring that the business commitments are met on material receipt.
· Analysing old inventory and work with Business groups for early liquidation.
· Ensuring minimum stock levels and ensuring un-interrupted supply of material
· Physical Stock verification at Branches and reconciling with GL.
· Driving ERP Vs Physical stock for each branch.
(3) Budget
· Work in close coordination with Business groups for drawing of yearly budget
· Monitoring all components of budget with actual and analysing the causes of variances
· Discussion with Business teams and taking corrective action plan.
· Capex monitoring and pay back monitoring
(C) Costing
· Stock statement and QIS to bankers on due dates.
· Preparation of CMA data for renewal of Working capital limits.
· Bills discounting ( customer bill + supplier Bills
· Ensuring payment on due date to monthly loan instalments.
· Complete coordination with bankers with an ability to convince bankers for day to day transactions.
· Monitoring all Current Accounts across all regions and ensuring adequate funds available.
· Ensuring Bank Reconciliation is performed for all branches / banks and passing entries on due date
· Ensuring proper maintenance of Petty Cash at HO/ Factory / regions.
b) Working Capital management
(1) Receivable management
· Management of receivables by analysing the reasons of outstanding and preparation of statements.
· Monitoring the credit policy of each business and ensuring adherence customer wise.
· Driving collections by talking to each branch / customer
· Special Drive on Debtors over 180 days.
· Monitoring reconciliation of customer Ledger.
· Follow up of C Forms in co-ordination with Accounts.
· Accounting of customer receipts, issue of Credit and Debit Notes
(2) Inventory Control
· Monitoring Inventory business wise by closely working with Business team.
· Ensuring stock levels before opening of LC and ensuring that the business commitments are met on material receipt.
· Analysing old inventory and work with Business groups for early liquidation.
· Ensuring minimum stock levels and ensuring un-interrupted supply of material
· Physical Stock verification at Branches and reconciling with GL.
· Driving ERP Vs Physical stock for each branch.
(3) Budget
· Work in close coordination with Business groups for drawing of yearly budget
· Monitoring all components of budget with actual and analysing the causes of variances
· Discussion with Business teams and taking corrective action plan.
· Capex monitoring and pay back monitoring
(C) Costing
- Product costing / Marginal Costing for different business lines and comparing with actual at the end of the period.
- Ensuring budget contribution is achieved comparing with actuals.
- Monitoring Overhead levels and ensuring that Business always quotes updated cost in their tenders
- Break even analysis for each business and working closely and driving Business teams to achieve the same by taking various steps/actions.
(D) Cash Flows:
- Planning of Cash flows both inflows and outflows with exact due date.
- Preparation and monitoring of Cash flows- Forecast and actual - business wise
- Quarterly forecast of Cash flow statement.
(E) Insurance: Monitoring various assets and
ensure Insurance are taken/ renewal on due date at best rates.
(F) ERP: Working closely with IT for
generation of various new reports (relating to Finance) and working on
development of reports with future requirements in mind.
