Unit Lead

Job Description Job Description Job Role: Team Lead Money, Materials & Compliances Job Role ID: - SECTION I: BASIC INFORMATION ABOUT THE JOB ROLE Job Role Variant: Sr. Team Lead Money, Materials & Compliances Manager Job Position: Head - Money, Materials & Compliances Job Position ID: - Value Stream: MM&C Job Family: MM&C Sub-Job Family: MMC - Business Partnership Grade/Level: - Location: - SECTION II: PURPOSE OF THE ROLE To implement the strategy of Money Materials & Compliances in order to align objectives, manage business finance, control costs, prevent asset or financial loss, mitigate risks, drive & monitor internal & external compliances to the policies, systems & processes across the respective businesses thus facilitating business continuity towards the fulfilment of Annual Operating Plan (AOP) within the limits of RIL's processes, policies & budgets SECTION III: KEY RESPONSIBILITIES AND ACCOUNTABILITIES OF THE ROLE Responsibilities Policies, Processes & Procedures - Collaborate with MMC P&L leader to develop and implement financial business plans for the P&L, considering financial objectives, growth strategies, and market dynamics - Identify potential financial and material challenges and opportunities to be addressed in the business plan. Provide inputs for improvements in business processes, specifications and best practices - Implement cost control measures to optimize spending, minimize wastage, and improve overall financial efficiency within the team and across projects Pricing Policies & Procedures - Review and validate pricing proposals to ensure they align with the organization's pricing strategy, cost structure, and profitability targets - Approve pricing changes and discounts in the organization's system, maintain accurate and up-to-date pricing information - Ensure that pricing decisions adhere to the organization's pricing policies, pricing guidelines, and discount approval processes - Oversee export pricing and licensing considerations to avoid any violations Accounting & Systems Management - Maintain financial records (end-to-end accounting), including journal entries, general ledger, accounts payable, accounts receivable, and other accounting transactions for the respective businesses - Oversee the month-end and year-end closing processes to ensure that financial transactions are recorded accurately and in a timely manner - Conduct budget-to-actual analysis, comparing budgeted figures with actual results, and explain significant variances in the MIS reports Audit & Compliance - Ensure adherence to financial regulations, company policies, and industry standards. Coordinate with legal and compliance teams to mitigate financial risks - Prepare for external audits by coordinating with auditors, ensuring all necessary documentation and financial records are organized and accessible - Submit cost audit reports and other statutory requirements as per time line - Ensure compliance with tax laws and regulations, including timely filing of tax returns and adherence to tax accounting principles - Coordinate with tax advisors and legal experts to comply with direct tax laws and regulations - Manage compliance with indirect taxes such as VAT, GST, and other applicable taxes - Oversee contract administration and ensure that agreements with vendors and suppliers are favourable, compliant, and aligned with organizational objectives Data Analysis & Reporting - Conduct financial analysis and interpret financial data to provide insights to management for informed decision-making and strategic planning - Monitor the working capital for the respective businesses and prepare relevant reports for the same; also prepare regular financial reports and presentations for management, highlighting key performance indicators, budget variance analysis, and financial performance against targets - Provide inputs on the process of financial forecasting and market trends to project future financial performance and identify potential risks and opportunities - Prepare periodic MIS and transfer pricing reports, such as daily, weekly, monthly, and quarterly reports, presenting key financial and operational metrics; Continuously review and enhance MIS reporting processes to streamline data collection, analysis, and report generation - Prepare and submit the data/information requirements of Anti-dumping cases and handling the investigation process People Management - Instil a culture of continuous development and high performance within own team - Participate in recruitment activities & ensure retention / engagement of own team - Set performance objectives of own team, evaluate / appraise team members and provide regular feedback & guidance - Guide, mentor and develop own team to take larger and complex responsibilities - Evaluate training and development requirements for own team and make recommendations for learning interventions SECTION IV: SUCCESS METRICS (TOP 3-5 KPI's) - % Financial Accuracy - % Compliance to the Budget - Quality of Reports generated - Zero Penalties - Timely Financial Reporting - Reduced Opex Costs - GST Compliance - Zero asset loss / revenue loss SECTION V: OPERATING NETWORK Internal: Business team, Insurance Team, Treasury team, Direct Taxation team, Indirect Taxation team External: External consultants, Tax authorities, Government Authorities SECTION VI: KNOWLEDGE AND COMPETENCIES Education Qualifications: Graduate in any discipline (Finance preferred) with Management Degree (Preferred) Experience (Must Have & Good to Have): 10+ years of relevant experience Functional / Behavioral competencies required to execute the role: FUNCTIONAL COMPETENCIES SECTION VII: CAREER MOVEMENTS Feeder Roles: Team Lead MMC Possible Next Role Movement: Head - Money, Materials & Control - Site/ P&L/ Value stream