FLO Finance

Job Purpose

To plan, organize and perform treasury activities related to Cash Flow, borrowings, debt servicing, maximizing yield on short term investments from surplus cash and effective utilization of cash in a manner consistent with the objectives of the Company.

Job Context & Major Challenges

Job Context:
The combined production capacity of all India units is 3,46,000 MT p.a. with a combined Sales Turnover of Rs.2,502 Crs. Banking, Treasury, Insurance, Finance and Commercial function for all the three units is centralised at Regional office situated at Gummidipoondi. All activities related to Banking, Treasury and Insurance are carried out at Regional office.
Job Challenges:
•To estimate daily cash inflow, cash outflow and prepare DFR
•To transfer funds based on requirement for payment and investment
•To prepare bank limits Vs utilization on daily basis
•To open Letter of Credit & Bank Guarantee based on requirement from units.
•To prepare investment return statement and provide for accounting.
•To check interest working debited by banks and report deviation for correctness
• To arrange documents for raw material import payment, Buyers Credit loan, repayment of loan correctly in a timely manner
•To ensure proper accounting entries for all banking related transactions including interest, loan availment, repayment and investment related entries
•To arrange documents and submit to banks for capex import hedging
•To prepare periodical reports required by banks like Stock statement, Foreign Currency related reports, FFR & FFR II.
•Co-ordinate with banks for obtaining banks statements, transaction advices etc.,
•To maintain, modify bank authorized signatories as and when required
•To liaison with bank and resolve transaction level issues
•To maintain list of insurance policies, obtain quote for renewal and compare quotes
•To submit periodical declaration to the insurance company
•To renew insurance policies timely and premium accounting
•To monitor Sum Insured Vs actual value and to arrange for coverage enhancement
•To maintain all documents related to insurance claims and co-ordinate with unit logistic team for obtaining all claim documents and to ensure submission to insurance company

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)KRA1To prepare daily DFR and arrange for funds Inflow/Outflow•To compile data related to actual cash inflow/outflow and estimate cash inflow /outflow and report in DFR on daily basis.
•To make investment proposal and arrange for investment in mutual funds on daily basis based on surplus available as per TSC guideline
•To ensure timely transfer of funds to mutual fund account
•To review return on mutual fund investment and suggest management for change on portfolio as per TSC guideline
•To monitor and arrange for transfer of funds for effective utilization of funds
•To liaison with banks for obtaining transaction advices as required.KRA2To prepare daily DFR and arrange for funds Inflow/Outflow•To compare working capital limits Vs actual utilization on daily basis to ensure proper utilization of funds
•Evaluate, develop and implement cash management systems to optimize efficiencies
•To check interest calculation and report deviation timely to banks
•To update data for next 3 months raw material import payments and incorporate in cash flow and submit to management for review and plan for fund raising optionsKRA3To arrange documents for raw material import payment, LC opening and BG, Buyers Credit loan and repayment of loan•To arrange for documents for raw material import payment and submit to banks like Form A1, NoC for Nostro funding, transfer of funds to remittance to supplier.
•To arrange application for LC opening, BG availment and check bank charges are as per sanction document
•To arrange for documents for Buyers Credit availment and loan repayment
•To maintain details of LC and BG statement on regular basis and monitor due dates and reversal of limits utilized.KRA4To arrange documents for raw material import payment, LC opening and BG, Buyers Credit loan and repayment of loan•To prepare and submit all documents related to short term loan repayment.
•To ensure proper accounting of entries related to loan availed and repaid and provide all documents to accounts for passing entires.
•To arrange pricing/quote from banks for short term loans against payment commitments
•To arrange for necessary documents such as 15CA/15CB for import payments and submit to banks timely
•To ensure all legal requirements related to foreign currency loans availed against import payments and submit report to various agencies in a timely manner including payment of withholding tax as applicable.KRA5Submission of proper and accurate reports to banks/internal departments on regular basis•To prepare periodical reports such as stock statement, PP exports report, UFCE, FFR I & FFR II and other necessary reports and timely submission to banks.
•To arrange for insurance endorsement certificate in current assets insurance policies and submit to bank.
•To prepare and submit all necessary documents, periodical statements to banks as stipulated in the sanction letter
•To provide investment yield on mutual funds to accounts on monthly basis and also check interest working debited by banksKRA6Submission of proper and accurate reports to banks/internal departments on regular basis•To arrange for debit/credit advices, statement of accounts from banks as per requirement.
•To maintain statement of daily cash inflow/outflow, actual utilization, weekly/monthly actual inflow/outflow and working capital utilization for regular review
•To prepare and compile data required for submission of FFRI, FFRII and CMA data
•To prepare and compile all data for renewal of working capital limits and credit rating renewal
•To add/delete authorized signatories in all bank accounts based on requirements from time to time
•To co-ordinate with banks for smooth banking transactions, E-net operation, renewal of E-net certificate etc.,KRA7To perform all jobs related to insurance policies renewal and claims•To prepare statement of insurance policies, follow-up for quote based on policy due date from insurance company through Birla Insurance and prepare quote comparison statement.
•To prepare all data related to insurance renewal including assets addition, deletion, Sum Insured value
•To review terms and conditions of insurance policy, inclusions and exclusions and suggest for proper coverage
•To prepare and submit periodical declaration statements to insurance companies and arrange for refund of premium based on actual declarationKRA8To perform all jobs related to insurance policies renewal and claims•To review Sum Insured Vs actual declaration and arrange for enhancement of SI based on requirement.
•To study policy features/benefits before renewal and identify further scopes so as to include in the policy renewal
•To co-ordinate with Birla Insurance Brokers and insurance companies for timely renewal of policies
•To prepare statement of insurance claims and discuss with unit logistic team along with Birla Insurance brokers for submission of documents, claims follow-up and settlement of claimsKRA9To perform all jobs related to insurance policies renewal and claims•To identify uncovered assets and ensure for proper coverage
•To co-ordinate with Birla Insurance for periodical valuation of assets to ensure proper Sum Insured
•To co-ordinate with Birla Insurance for regular inspection of immovable assets at unit locations by insurance companies/valuers to ensure insurance interest for safety of assets and to maximize discount
•To explore all options for reduction of insurance cost, wider insurance coverage and discuss with superior

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