Financial Controller

4 days ago

Chennai, Tamil Nadu, India Nac Jewellers Full time ₹ 8,00,000 - ₹ 24,00,000 per year

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 company

  • Adherence 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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