Financial Controller
4 days ago
Job description
Finance Controller- NAC JEWELLERY
Financial Reporting & Compliance
- Preparation of monthly, quarterly and annual financial statements as per applicable laws and applicable accounting standards.
- Ensure accurate accounting and recording of gold, diamond, and stone inventory, considering karat, weight, wastage, and valuation.
- Coordinate with statutory, internal, and tax auditors for audits and compliance checks.
- Maintain Books of Accounts in compliance with MCA regulations, and GST norms, especially for bullion and jewellery trade
- Automation possibilities in the accounting function
- Monthly P&L review with the directors
- Revenue Controlling and growth
- Store-wise performance accounting and management
Budgeting, Forecasting & MIS
- Lead annual budgeting and seasonal demand forecasting (festive, wedding seasons, etc.). Monitor actuals vs budgeted sales, margins, and overheads.
- Prepare MIS reports including: Sales vs margin (item-wise / branch-wise), Inventory turnover ratio, Working capital analysis, materials costing, payroll, and compliance.
Cash Flow & Treasury Management - Maintain relationships with banks for - Overdrafts, CC limits, or term loans.
- Negotiate terms and monitor interest, stock statements, and drawing power calculations.
- Prepare documents for loan renewal and compliance with bank covenants.
- Manage bank loan facilities with scheduled repayments and interest tracking.
- Oversee daily cash flows, high-value customer advances, and gold purchase payments.
- Ensure optimum working capital utilisation, especially in managing stock and vendor payments.
- Receivables management
Inventory Accounting & Valuation
- Oversee inventory accounting (karat-wise, purity-wise, and category-wise).
- Ensure accurate valuation of finished goods, bullion, and raw gold.
- Reconcile physical inventory with books during stock audits and surprise checks.
Coordinate verification with operations for barcoding, loss tracking, and hallmark verification
Taxation & Regulatory Compliance
Preparation of a compliance framework for the companyAdherence and monitoring of the compliance universe
Submission of the compliance report to the Directors of the company
Internal Controls & SOPs
Design and enforce SOPs for purchases, sales, and vendor payments, employee payments, etc.
Update the SOPs from time to time
Team Management
Lead the accounts, taxation, and MIS team across HO and branches.
- Ensure timely closure of books, branch reporting, and inter-branch reconciliations.
- Conduct regular training on tax updates, accounting system usage and compliance.
Industry
- Retail Luxury Goods and Jewelry
Employment Type
Full-time
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