Financial Controller

This role primarily takes care of SMK Wellness PVT LTD (all locations) Financial closing & reporting. - Exercise system controls, facilitate continuous improvements, re-implementation, upgrade in accounting & reporting processes to improve productivity. - Ensure statutory compliances (in area of FEMA, GST, Direct Tax, Audit, and any other applicable statute) - Implementation of new corporate or Business initiatives/legal changes (IND AS, Automation, Direct & Indirect taxes) - Risk mitigation by ensuring adequate insurance cover for all locations/Assets and facilitating speedy settlement of insurance claims. - Evaluation of cost saving measures and ensure implementation of the same. - Managing all Audits and liaising with the auditors. - Facilitating all Banking related compliance - Ensure proper revenue recognition and expense accounting. - Preparing Cash flows and balance sheets on intervals as agreed with CFO. - Supporting CFO to prepare SOP for Accounting, Budgetary compliances, Delegation of Powers to approve expenses. Setting up Policies to ensure Cost optimization. - Supporting the CFO with timely information to facilitate Business data analytics Dimensions Financials Turnover of Business: Approx 15 crores (first year of Operation) GFA of Business: INR 5 crores (1 st Year) People related Direct Reportee: 1(to be decided from time to time) Indirect Reportee: To be decided from time to time Challenges of the role - Managing the books of accounts in Tally ERP - Multiple audits/multiple stakeholders, coordination with them - removing Nonconformities. - Understanding/implementation of applicable rules/procedures due to ever changing legal requirements/ new laws etc. - Satisfying requirement of multiple stakeholders, Integration of process at common platform for all four Indian plant locations Principal Accountabilities & Responsibilities Accountabilities Responsibilities Control Point Managing Statutory compliances (Taxes) 1) The incumbent would be responsible for handling Indirect and Direct taxes 2) He should ensure that there are no statutory non - compliances in terms of filing of returns, payment of taxes etc. Statutory Compliance within Statutory timelines Responsibility for Accurate accounting 1) He would be responsible for regular review of key accounts ensure old balances are regularly cleared/adjusted. Accounts Closing and Liasoning with auditors 1) The incumbent would take part in the monthly/quarterly and annual accounts and ensure timely closure as per timelines. 2) He is responsible for ensuring that all external/internal audits are carried out without any major adverse comments / objection.3) The incumbent is responsible for preparation of various kind of Quarter on Quarter, Year on Year variance for financials closing No audit objection Ensuring Compliance framework finalization 1)Identify & establish Accounting & Compliance framework Implementation as per plan Ensure Documentation retention process is in place 1) The incumbent is responsible for ensuring proper documentation process/guidelines is followed. Easy Retrieval of Data and Records Builds checks & controls 1) The position holder will build checks and controls in all financial transactions. 2) Preparation and review of DOP (delegation of powers) to cover all types of transactions for smooth functioning of business Strengthening Internal Controls and Checks. Banking 1) Review of bank charges periodically and take necessary action for reduction/optimization of the same. Smooth banking operations Satisfying Internal Customers 1) He would also be responsible for satisfying other internal customers viz other processes by giving timely information/input to them. Providing Data and Information in time Guide/Motivating Subordinates 1) Guide subordinates for day-to-day accounting and transaction processing 2) Consistently try to keep Subordinates working under the incumbent motivated so that they Motivating the subordinates work efficiently. 3) Endeavour to improve their skills by providing/nominating them for trainings. 4) Gradually giving them more responsibilities to enable them to grow within the organization. Ensure adequate insurance cover in place, Ensure timely receipt of insurance claim. 1) He would be responsible for adequate cover for all types of insurance 2) The incumbent will take active part in evaluation and negotiation of premium rates for insurance.3) Review of insurance claims and ensure timely settlement of all types of insurance claims. Timely/adequate insurance cover Timely settlement of insurance without any loss to business Working Relationships Who do you interact with Purpose of interaction Frequency (How often) Suppliers For payment, Statutory forms, and reconciliation related queries Daily/Weekly/Monthly Basis Govt. Agencies/Bankers For Compliance of statutory requirem