Finance Executive

3 weeks ago


Guntur, India The Yarn Bazaar Full time

About Us: 


The Yarn Bazaar is a Managed (full stack) B2B Marketplace solving the problem of broken supply chain & working capital constraints in textiles (Yarn) - a huge, yet highly fragmented market that we are looking to disrupt.


Founded in July 2019, Pratik Gadia conceptualized the idea of The Yarn Bazaar while working for his family business in Textile Manufacturing having personally experienced multiple constraints due to a severely broken supply chain. Since July 2019, we are proud to have already completed 100% advance payment transactions worth over ₹400 crores, with no credit, working capital, financing, or inventory. The Yarn Bazaar was featured on Shark Tank India where we raised funding from 4 of the esteemed sharks. 

You can see our Shark Tank pitch here.


Recently, The Yarn Bazaar also raised Rs 150 million in the pre-Series A round to expand operations, increase market reach, and strengthen the technological infrastructure.


WHAT WE ARE LOOKING  


We are looking for a Finance & Accounts Manager who will be responsible for overseeing the organization's Finance & Accounts and providing insights and financial advice to help the company make the best business decisions. You must have a strong functional understanding of all aspects of Budget Planning, Funds Management, MIS Reports, and Statutory Compliance as they relate to the overall business goals. You will contribute to the management of organizational cash flow forecasting by collaborating with stakeholders/delivery teams to prepare and maintain cash flow analysis. You will generate regular financial reports on budgets, accounts payables, accounts receivables, and expenses - collecting, interpreting, and reviewing financial data and developing long-term business plans based on the financial reports.


You will play a critical role in The Yarn Bazaar's transition from a start-up to a scaleup and be one of the key leaders in this hyper growth journey.


RESPONSIBILITIES 


  • Preparation of effective MIS for monthly and quarterly internal and investor reporting
  • Customise reports according to the specific requirements of investors and internal stakeholders     
  • Develop and maintain robust cash flow forecasting and planning, including weekly cash flow planning, with regular monitoring and reviews in collaboration with management
  • Effectively manage payables and receivables to ensure efficient cash flow operations                                                                                                                                 
  • Preparation of Budget and cost allocation reports as per the requirement of investors and management, in collaboration with departments.
  • Overseeing SCF management and ensuring the maintenance of Program Notes and Live Trackers while maintaining continuous coordination with lenders and buyers
  • Ensure due diligence in financial transactions and compliance with legal and regulatory requirements
  • Oversee taxation and compliance activities, including TDS and GST payments with accurate quarterly and monthly returns.
  • Ensure timely filing of ROC compliances (Annual Tax Audit, Income Tax return, Annual forms filing).
  • Manage and oversee 26AS reconciliations, General Ledger review and compliance with PF, ESIC, Gratuity, ESOP's etc.           
  • Efficiently manage the company's data room for due diligence purposes
  • Identifying financial risks faced by the organisation and developing policies to mitigate such risks
  • Implement appropriate risk management tools, such as insurance or hedging.
  • Ensure timely updation of accounting entries and compliance with accounting principles and regulations.                                                                                                       
  • Analyzing costs across various business functions, identifying opportunities for cost savings and efficiency improvements, and implementing measures to control expenses   
  • Streamline tax management processes to ensure compliance and efficiency in tax-related activities



 Skills & Qualifications:


  • Minimum 2-3 years of experience in managing Finance and Accounts in a start-up.


  • Expertise in accounting processes including Accounts/Balance Sheet Finalization, MIS Reporting, TDS Returns, 26AS reconciliations, reviewing General Ledger, Intercompany match, maintaining Fixed Asset Register, and Knowledge of Compliance PF, ESIC, Gratuity etc.


  • Strong understanding and proven application of applicable laws, guidelines,regulations, ordinances, and policies.


  • Excellent written and verbal communication skills.


  • Impeccable integrity.


  • Excellent interpersonal, presentation, and relationship building skills.


  • Excellent organisational skills and attention to detail.


  • Ability to thrive in a fast-paced & constantly changing environment.


  • Strong analytical and problem-solving skills.


  • Proficient in Google/Microsoft Office suite or similar software and experience working with a CRM or ERP software.




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