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Financial Services Manager
1 month ago
**Job Title:** Reliance Industries Limited Team Member
**Job Type:** Full-time
**About Us:
Reliance Industries Limited is a multinational conglomerate with a diverse range of businesses.
**Job Summary:
We are seeking a highly skilled and experienced Reliance Industries Limited Team Member to join our team. The successful candidate will be responsible for overseeing financial services, managing compliance and risk, and providing strategic support to the business.
**Key Responsibilities:
Financial Services- Develop and implement financial business plans in collaboration with the MMC P&L leader and Team Lead.
- Provide implementation support for cost control measures to optimize spending, minimize wastage, and improve financial efficiency.
- Ensure timely TDS payments and accurate tax calculations.
- Assist in preparing and filing direct tax returns, and issuing TDS certificates to vendors.
- Maintain accurate and up-to-date records of various taxes, including VAT rates, GST, and excise duties, ensuring compliance with the latest regulations.
- Conduct thorough reviews of contracts to ensure accuracy and compliance with company policies and applicable laws.
- Oversee contract administration and ensure agreements with vendors and suppliers are favorable, compliant, and aligned with organizational objectives.
- Prepare and submit compliance reports to regulatory authorities, ensuring meticulous adherence to legal mandates and transparency in reporting.
- Prepare and analyze financial data, such as underwriting results, claim expenses, and premium income to contribute to financial forecasting, budgeting, and planning activities.
- Assist in conducting budget-to-actual analysis, comparing budgeted figures with actual results, and explaining significant variances in MIS reports.
- Generate bank payment vouchers for TDS liability, ensuring accurate documentation and timely processing.
- Prepare and present MIS reports to management detailing TDS liability for the month, including payment status.
- Analyze financial statements, performance metrics, and KPIs to evaluate the company's financial performance and identify trends, patterns, and areas for improvement.
- Monitor industry trends, competitor offerings, and regulatory changes; provide insights on emerging risks and opportunities that could impact the company's insurance products and strategies.
- Conduct research on changes in laws, regulations, and rulings to ensure accurate compliance and identify opportunities for process enhancements and automation.
- Stay up-to-date with industry trends, best practices, and changes in taxation, accounting, treasury, and insurance regulations with respect to RIL's businesses and aspirations.
- Ensure adherence to financial regulations, company policies, and industry standards, including compliance with tax laws and regulations.
- 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 timeline.
- 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.
**Requirements:
Bachelor's degree in any discipline (Finance preferred) with Management Degree (Preferred)
3-7 years of experience post CA/MBA
Business Planning, Forecasting, and Budgeting
Knowledge of professional accounting standards
Knowledge of transactional accounting and closing processes
Operational Excellence
Business Partnering
Market Scrutiny and Impact Analysis
Tax Operations and Validation
Financial Reporting
**Career Movement:
Feeder Roles: Team Member Money, Materials & Compliances
Possible Next Role Movement: Team Lead Money, Materials & Compliances