Unit Lead

4 months ago

Navi Mumbai, India Reliance Industries Limited Full time

JOB DESCRIPTION
Job Role: Team Lead Money, Materials & Compliances
Job Role ID: -

SECTION I: BASIC INFORMATION ABOUT THE JOB ROLE
Job Role Variant: Sr. Team Lead Money, Materials & Compliances
Manager Job Position: Head - Money, Materials & Compliances
Job Position ID: -
Value Stream: MM&C
Job Family: MM&C
Sub-Job Family: MMC - Business Partnership
Grade/Level: -
Location: -

SECTION II: PURPOSE OF THE ROLE
To implement the strategy of Money Materials & Compliances in order to align objectives, manage business finance, control costs, prevent asset or financial loss, mitigate risks, drive & monitor internal & external compliances to the policies, systems & processes across the respective businesses thus facilitating business continuity towards the fulfilment of Annual Operating Plan (AOP) within the limits of RIL's processes, policies & budgets

SECTION III: KEY RESPONSIBILITIES AND ACCOUNTABILITIES OF THE ROLE
Responsibilities

Policies, Processes & Procedures

  • Collaborate with MMC P&L leader to develop and implement financial business plans for the P&L, considering financial objectives, growth strategies, and market dynamics
  • Identify potential financial and material challenges and opportunities to be addressed in the business plan. Provide inputs for improvements in business processes, specifications and best practices
  • Implement cost control measures to optimize spending, minimize wastage, and improve overall financial efficiency within the team and across projects

Pricing Policies & Procedures
  • Review and validate pricing proposals to ensure they align with the organization's pricing strategy, cost structure, and profitability targets
  • Approve pricing changes and discounts in the organization's system, maintain accurate and up-to-date pricing information
  • Ensure that pricing decisions adhere to the organization's pricing policies, pricing guidelines, and discount approval processes
  • Oversee export pricing and licensing considerations to avoid any violations

Accounting & Systems Management
  • Maintain financial records (end-to-end accounting), including journal entries, general ledger, accounts payable, accounts receivable, and other accounting transactions for the respective businesses
  • Oversee the month-end and year-end closing processes to ensure that financial transactions are recorded accurately and in a timely manner
  • Conduct budget-to-actual analysis, comparing budgeted figures with actual results, and explain significant variances in the MIS reports

Audit & Compliance
  • Ensure adherence to financial regulations, company policies, and industry standards. Coordinate with legal and compliance teams to mitigate financial risks
  • 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 time line
  • Ensure compliance with tax laws and regulations, including timely filing of tax returns and adherence to tax accounting principles
  • 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
  • Oversee contract administration and ensure that agreements with vendors and suppliers are favourable, compliant, and aligned with organizational objectives

Data Analysis & Reporting
  • Conduct financial analysis and interpret financial data to provide insights to management for informed decision-making and strategic planning
  • Monitor the working capital for the respective businesses and prepare relevant reports for the same; also prepare regular financial reports and presentations for management, highlighting key performance indicators, budget variance analysis, and financial performance against targets
  • Provide inputs on the process of financial forecasting and market trends to project future financial performance and identify potential risks and opportunities
  • Prepare periodic MIS and transfer pricing reports, such as daily, weekly, monthly, and quarterly reports, presenting key financial and operational metrics; Continuously review and enhance MIS reporting processes to streamline data collection, analysis, and report generation
  • Prepare and submit the data/information requirements of Anti-dumping cases and handling the investigation process

People Management
  • Instil a culture of continuous development and high performance within own team
  • Participate in recruitment activities & ensure retention / engagement of own team
  • Set performance objectives of own team, evaluate / appraise team members and provide regular feedback & guidance
  • Guide, mentor and develop own team to take larger and complex responsibilities
  • Evaluate training and development requirements for own team and make recommendations for learning interventions

SECTION IV: SUCCESS METRICS (TOP 3-5 KPI's)
  • % Financial Accuracy
  • % Compliance to the Budget
  • Quality of Reports generated
  • Zero Penalties
  • Timely Financial Reporting
  • Reduced Opex Costs
  • GST Compliance
  • Zero asset loss / revenue loss

SECTION V: OPERATING NETWORK
Internal: Business team, Insurance Team, Treasury team, Direct Taxation team, Indirect Taxation team
External: External consultants, Tax authorities, Government Authorities

SECTION VI: KNOWLEDGE AND COMPETENCIES
Education Qualifications: Graduate in any discipline (Finance preferred) with Management Degree (Preferred)
Experience (Must Have & Good to Have): 10+ years of relevant experience
Functional / Behavioral competencies required to execute the role: FUNCTIONAL COMPETENCIES

SECTION VII: CAREER MOVEMENTS
Feeder Roles: Team Lead MMC
Possible Next Role Movement: Head - Money, Materials & Control - Site/ P&L/ Value stream

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