Avp Finance Operations

3 weeks ago

Bengaluru Karnataka, India Personnel Search Services Group Full time

**Posted On**:
09-Feb-2024

**Function**:
Accounting & Finance

**Industry**:
Gems & Jewelry

**Location**:
Bangalore

**Employment Type**:
Full Time

**About the client**:PSS** has been mandated to hire an AVP Finance Operations for one of the fastest growing organizations based in Bangalore.

**Job Purpose**:
The purpose of this role is to lead and transform the Operations Finance function and to set-up robust and efficient processes from a financial perspective covering the Exclusive Business Outlets (EBO), Payment gateway management, Marketplace reconciliations, Shop in Shop (SIS) outlets, end to end cycle of Accounts receivable payable.

**Key Responsibilities**:
**Defining & designing processes**:

- Define the processes across different functions of Finance covering AR/AP/EBO/Marketplace/SIS
- Identify gaps in processes in terms of SLA/risks/leakages/control. Accordingly, recommend improvements & areas of automation.
- Set-up SOPs and socialise with different stakeholders (internal & external)
- Learn from industry peers about best practices and recommend/plan for implementation

**EBO management**:

- Liaise with various internal teams such as Projects, EBO operations, treasury, finance, auditors, and others for EBO-related processes
- Communicate with Landlords, project vendors
- Maintain all data relating to EBO fixed assets, including tracking projects, CWIP, capitalization, depreciation, sale of assets etc.
- Track the deposit-to-inventory ratio for FOCO stores and identify areas of risks needing attention.
- Perform monthly margin calculation for stores and reconciliation with payments/deposits
- Define the New Store Opening (NSO) process from a finance perspective and ensure compliance to such agreed NSO checklists/process.
- Monthly Management reporting

**Revenue and Account Receivable**:

- Prepare and track 3 way reports for tracking Ordering/Collections/Invoicing across channels
- Prepare and review daily/weekly/monthly reconciliations depending upon the channel
- Follow-up with external parties like Marketplace platforms, SIS partners, EBO, PGs & Banks for gaps in reconciliations and closure of open points.
- Build relationships with Banks & PGs to drive better costs of collection
- Track and review potential exception reports (e.g Ordered but invoiced, duplicate invoice)
- Track and process timely customer refunds in a timely and accurate manner.
- Ensure completeness in invoicing across platforms and acting as one of the checkers for correct revenue accounting.
- Work collaboratively with PG partners to explore opportunities for partnerships on our platforms which can help elevate customer experience wrt to payment processes/mechanisms

**Accounts Payable & Vendor Management**:

- Define a clear PO/PR process linked to GRN across different segments of payables (Inventory, Opex, Store running, Capex)
- Maintain and adhere to a payment register to segregate and identify recurring/non-recurring and capex payments
- Identify and monitor any deduction wrt to damages, penalty, QC failure needed before payment preparation.
- Ensure accurate and timely payments are done as per the agreed terms.
- Ensure adherence to the approval mechanism set in place for all payments.
- Work closely with vendors to establish a strong relationship.
- Ensure the correct TDS deduction.
- Ensure monthly reconciliation of GST inputs with vendor GLs. Identify gaps and issues and work with vendors on closure.

**Educational Qualifications And Experience**:

- MBA (Finance)/ Chartered Accountant with an experience of 15yrs+
- Proven experience in an Operations finance role, omni-channel retail experience preferred.
- 5+ yrs experience of managing large teams (10+)
- Excellent communication skills.
- Proficient in managing large & complicated data sets.
- Expert user in MS Office (Excel, Access, etc)
- Ability to work collaboratively in a cross-functional environment.

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