Financial Controller for Accounts Payable and Receivable
4 days ago
Key Responsibilities:
As a Senior Executive - Finance Controllership at Wipro Consumer Care & Lighting, you will be responsible for overseeing the financial operations related to accounts payable, accounts receivable, management information systems (MIS), invoice processing, vendor management, report preparation, and foreign exchange (forex) transactions.
The ideal candidate will have a strong background in financial operations, excellent analytical skills, and the ability to manage multiple priorities in a fast-paced environment.
Key Areas of Responsibility:
1. Accounts Payable Management:
- Oversee the accounts payable process, ensuring accurate coding and timely payment to vendors.
- Maintain and reconcile the accounts payable ledger, ensuring all transactions are recorded accurately and discrepancies are resolved promptly.
- Implement and monitor internal controls to prevent fraud and ensure compliance with company policies and regulatory requirements.
2. Accounts Receivable Management:
- Manage the accounts receivable process, including invoicing, cash application, and collection activities.
- Monitor customer accounts for overdue payments and coordinate with the sales team to follow up on outstanding invoices.
- Reconcile accounts receivable ledgers and ensure all payments are accounted for and discrepancies are addressed.
3. Invoice Processing:
- Ensure timely and accurate processing of invoices, including validation, approval, and entry into the financial system.
- Coordinate with vendors and internal departments to resolve any invoice discrepancies or payment issues.
- Monitor the invoice processing cycle to identify and implement process improvements for efficiency and accuracy.
4. Vendor Management:
- Develop and maintain strong relationships with vendors, ensuring effective communication and resolution of any payment or invoicing issues.
- Negotiate payment terms and conditions with vendors to optimize cash flow and working capital.
- Conduct periodic vendor reviews and assessments to ensure compliance with company policies and performance standards.
5. Management Information Systems (MIS):
- Prepare and maintain accurate and timely MIS reports, including financial statements, cash flow reports, and other management reports.
- Analyze financial data and provide insights to management on key financial metrics, trends, and variances.
- Support the development and implementation of financial dashboards and reporting tools to enhance decision-making.
6. Forex Management:
- Monitor foreign exchange transactions and manage forex risk in accordance with company policies and procedures.
- Prepare and review forex exposure reports, ensuring accurate recording and reporting of forex transactions.
- Work closely with the treasury team to execute forex transactions and hedge exposures as needed.
7. Financial Reporting and Compliance:
- Prepare and review financial reports, including monthly, quarterly, and annual reports, in compliance with IFRS/GAAP and Wipro policies.
- Ensure all financial transactions are recorded accurately and timely in the financial system.
- Liaise with internal and external auditors to facilitate smooth audit processes and ensure compliance with all regulatory requirements.
8. Process Improvement and Automation:
- Identify opportunities for process improvements within the finance function, particularly in accounts payable, accounts receivable, and reporting processes.
- Lead or participate in finance automation projects to enhance efficiency and accuracy, including the implementation of new systems and tools.
9. Cross-functional Collaboration:
- Collaborate with other finance teams, including treasury, tax, and financial planning and analysis, to support overall financial objectives.
- Work closely with the procurement, sales, and operations teams to align financial processes and support business initiatives.
Qualifications and Skills:
- Educational Background: Bachelor's degree in Finance, Accounting, or a related field; M.Com is preferred. MBA Finance is also good.
- Experience: 7+ years of experience in finance operations, including accounts payable, accounts receivable, and financial reporting, preferably within the FMCG or consumer goods industry.
- Technical Skills: Strong knowledge of financial accounting principles, invoice processing, and vendor management.
- Software Proficiency: Proficiency in financial software and ERP systems (e.g., SAP).
- Analytical Skills: Excellent analytical and problem-solving skills, with the ability to interpret financial data and provide actionable insights.
- Communication Skills: Strong communication and interpersonal skills, with the ability to work effectively with diverse teams and stakeholders.
- Attention to Detail: High level of attention to detail and accuracy in financial reporting and analysis.
- Adaptability: Ability to work under pressure and manage multiple priorities in a fast-paced environment.
We work from office for 5.5 days a week
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