Flo Finance

**Designation**:Accountant

**Updated**:May 23, 2024

**Location**:Tamil Nadu, India

**Organization**:Birla Carbon

**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)**
- KRA1- To 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.
- KRA2- To 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 options
- KRA3- To 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 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.
- KRA4- To 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.
- KRA5- Submission of proper and accurate reports to banks/internal departments on regular basis- To prepare periodical reports such as stock statement, PP exports