Manager - Consolidation

Job Description

JOB PURPOSE

The primary responsibility of this position is to perform the consolidation of financial statements for GIL, ensuring accurate and comprehensive financial reporting. Additionally, the role involves reviewing the standalone financial statements of GIL and related activities to provide insights on the group's financial health. This will facilitate informed decision-making, stakeholder communication, compliance with regulations, and effective risk management.

KEY ACCOUNTABILITIES

1. Communicate and Monitor Accounts Closing Calendar

- Accountability: Communicate the accounts closing calendar to subsidiary teams, ensuring they follow the guidelines for timely quarterly closing of accounts.
- Key Performance Indicator: Adherence to the closing schedule for timely and accurate financial reporting.

2. Ramp Up the Closing Calendar Process

- Accountability: Improve and streamline the monthly accounts closing process to ensure timely reporting.
- Key Performance Indicator: Efficiency in month-end closure, with no delays or discrepancies in financial reporting timelines.

3. Consolidation of Financial Statements

- Accountability: Perform consolidation of financial statements for GIL, ensuring accurate aggregation of subsidiary, JV, and associate financial data.
- Key Performance Indicator: Accuracy of consolidated financial statements, reflecting the group's financial health.

4. Review Financials from Subsidiaries/JVs

- Accountability: Review financial statements received from subsidiaries and joint ventures for completeness and accuracy. Provide guidance and clarifications where needed.
- Key Performance Indicator: Timely review and approval of subsidiary and JV financials with minimal errors or delays.

5. Review and Update Related Party Transactions (RPT)

- Accountability: Review the related party transactions (RPT) data from subsidiaries, update it in the consolidation model, and ensure compliance with regulatory requirements.
- Key Performance Indicator: Compliance with RPT regulations and accurate reporting in consolidation models.

6. Provide Clarifications to Auditors

- Accountability: Serve as the point of contact for auditors, providing necessary clarifications to ensure smooth and timely completion of audits.
- Key Performance Indicator: Timely and satisfactory resolution of audit queries.

7. Review Standalone Financials and Board Presentations

- Accountability: Review the standalone financials of GIL, as well as prepare Audit Committee and Board presentations on a quarterly basis.
- Key Performance Indicator: Quality and accuracy of quarterly financial presentations.

8. Business Valuation and Impairment Testing

- Accountability: Perform fair valuation and impairment testing of investments in subsidiaries, joint ventures, and associates.
- Key Performance Indicator: Accuracy of business valuations and impairment testing, ensuring compliance with accounting standards.

9. Coordinate with Statutory Auditors

- Accountability: Coordinate with statutory auditors to ensure timely completion of audits and resolution of audit queries.
- Key Performance Indicator: Timely completion of audits with minimal discrepancies or delays.

10. Support Other Financial Activities

- Accountability: Support activities related to tax audits, the annual report, and provide assistance to the strategic finance team for fundraising and restructuring activities.
- Key Performance Indicator: Contribution to the successful completion of audits, annual report preparation, and support in fund-raising or restructuring.

EXTERNAL INTERACTIONS

- Auditors: For the completion of the GAL consolidation audit.
- Service Providers: For finalizing financials of overseas entities.
- Private Equity Investors: Provide requested financial information.

INTERNAL INTERACTIONS

- Subsidiaries (DIAL, GHIAL): Work closely with subsidiaries and joint ventures to prepare and consolidate financial data.
- Internal Stakeholders: Collaborate with various departments to ensure the timely and accurate preparation of consolidated financial statements.

FINANCIAL DIMENSIONS

- Overall Financial Impact: Accurate consolidation and review of the financial data, which reflects the group's financial health.

OTHER DIMENSIONS

- Team Structure: This position will be supported by 2 subordinates.
- Scope of Role: Regular interaction with all airport sector subsidiaries, JVs, and the parent company, including DIAL, GHIAL, and their subsidiaries/JVs.

EDUCATION QUALIFICATIONS

- Chartered Accountant (CA): A qualified Chartered Accountant with a strong foundation in financial management.

RELEVANT EXPERIENCE

- Experience: 6-7 years of experience in finance, with at least 2-3 years in financial consolidation.
- Technical Skills: Strong understanding of Ind-AS (Indian Accounting Standards), with working knowledge of SAP.
- Additional Knowledge: Experience in handling mergers, acquisitions, IPOs, QIPs, and related matters.

COMPETENCIES

- Personal Effectiveness: Strong organizational and time management skills.
- Social Awareness: Understanding of the broader financial landscape and its impact on the group.
- Entrepreneurship: Ability to take ownership and proactively drive improvements in processes.
- Problem Solving & Analytical Thinking: Capability to analyze financial data and provide solutions to complex financial issues.
- Planning & Decision Making: Ability to plan for and make informed decisions based on financial data and forecasts.
- Capability Building: Focus on continuous professional development of the finance team.
- Strategic Orientation: Alignment of financial strategies with the long-term goals of the group.
- Stakeholder Focus: Effective communication with internal and external stakeholders.
- Networking: Building relationships within and outside the organization.
- Execution & Results: Ensuring timely and accurate financial reporting and audit compliance.
- Teamwork & Interpersonal Influence: Working effectively with cross-functional teams to achieve organizational objectives.

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