Senior Financial Manager

The incumbent for this role will oversee financial planning, budgeting, compliance, and treasury functions.

This involves managing project accounting, ensuring adherence to statutory regulations, and supporting business growth through strong financial governance and cost control.

Location: Chennai

Industry: Construction / Real Estate / Infrastructure

• A competitive salary package is offered.

Responsibilities:

Key Tasks:

• Lead the preparation of monthly, quarterly, and annual financial statements.
• Ensure timely MIS reporting, variance analysis, and financial projections.
• Monitor project-wise profitability and cash flow management.
• Implement cost control measures to optimize project margins.

Deliverables:

• Monthly, quarterly, and annual financial statements.
• Timely MIS reporting, variance analysis, and financial projections.

Expected Outcomes:

• Optimized project margins.
• Improved financial performance.

Budgeting & Forecasting

Key Tasks:

• Prepare annual budgets and forecasts in alignment with business objectives.
• Monitor actual performance against budgets and provide actionable insights.
• Track project-specific budgets and support project managers with financial data.

Deliverables:

• Annual budgets and forecasts.
• Actionable insights on actual performance against budgets.

Expected Outcomes:

• Alignment of budgets with business objectives.
• Improved budget management.

Project Accounting & Control

Key Tasks:

• Supervise accounting for construction projects including work-in-progress (WIP), billing, subcontractor accounts, and material reconciliations.
• Ensure compliance with revenue recognition policies specific to construction contracts.
• Manage contract accounting, retention money, and escalation claims.

Deliverables:

• Accurate accounting records for construction projects.
• Compliance with revenue recognition policies.

Expected Outcomes:

• Accurate financial records.
• Improved compliance.

Compliance & Audit

Key Tasks:

• Ensure compliance with all statutory requirements (Income Tax, GST, Companies Act, Labour Cess, PF, ESI, etc.).
• Liaison with auditors, banks, financial institutions, and regulatory authorities.
• Implement and monitor internal controls, policies, and procedures.

Deliverables:

• Compliance with statutory requirements.
• Liaison with regulatory authorities.

Expected Outcomes:

• Improved compliance.
• Enhanced reputation.

Treasury & Fund Management

Key Tasks:

• Manage cash flow requirements for ongoing and upcoming projects.
• Maintain relationships with banks for working capital, term loans, and BG/LC facilities.
• Monitor interest costs and optimize fund utilization.

Deliverables:

• Cash flow management plan.
• Relationships with banks.

Expected Outcomes:

• Improved cash flow management.
• Optimized fund utilization.

Team Leadership & Development

Key Tasks:

• Lead and mentor the finance & accounts team across multiple project sites.
• Build capabilities for financial discipline at the site and corporate levels.
• Ensure timely closure of accounts at HO and site levels.

Deliverables:

• Leadership and mentorship of the finance team.
• Financial discipline at site and corporate levels.

Expected Outcomes:

• Improved team performance.
• Enhanced financial discipline.

Qualifications & Experience:

• Chartered Accountant (CA) or Cost Accountant (CMA) or MBA (Finance).
• 12–18 years of experience in Finance & Accounts, with at least 5 years in a leadership role in the construction / infrastructure / real estate industry.

Key Skills & Competencies:

• Strong knowledge of construction accounting standards (Ind AS/AS-7, revenue recognition, WIP, etc.).
• Expertise in taxation, statutory compliances, and financial controls.
• Proven ability to manage project costing, billing cycles, and subcontractor accounts.