BookMyForex - Chief Financial Officer

Company Background

Headquartered in Gurgaon, Haryana, BookMyForex was founded in 2011 as an online moneychanger and pivoted into its current marketplace model in 2014. The Company now operates India's largest retail forex marketplace accessible on the web and mobile and has three key offerings - forex cards, currency and outbound remittances from India. The marketplace comprises retail customers on the demand side of the platform and banks and money changers on the supply side. The company enables customers to buy, sell or transfer foreign currency at the best rates through our 5000+ partner bank and money exchange locations across 650+ cities in India.

Bookmyforex is promoted and managed by Mr. Sudarshan Motwani who has over 30 years of senior leadership experience in the foreign exchange space. Funded by a well renowned financial focused private equity firm, the company has transformed the forex market since its inception by introducing concepts such as zero margin forex rates, locked-in exchange rates and super quick 4-hour forex order deliveries. Bookmyforex's technologically advanced forex marketplace helps customers discover the best forex rates around them and has helped hundreds of thousands of customers save crores of rupees. The company has grown at over 75% annually over the last five years and is now looking to add even more products to its portfolio over the next year. The company is now looking to add to its high quality team of about 150 professionals, to help take the business to the next level.

Position Summary & Objective

Bookmyforex currently handles more than 10,000 transactions per month across its three product lines - currency, cards and remittances. The value of these transactions exceed Rs 100 Cr per month. These are complex transactions which require rapid turnaround while also meeting various compliance requirements associated with Forex transactions.

The primary role of the CFO will be to handle efficiently the entire process and flow of money from customers to banks and our partners while making sure that all the required compliance guidelines are followed. The CFO will also be responsible for timely preparation of accounts, audit and tax related compliance, management of daily fund flows and planning and budgeting processes. In addition to this, the CFO be responsible for generating the MIS on key metrics of the business and work closely with the CEO and CFO in making plans and guiding some of the policy decisions. Finally, the CFO will also play an important role when the company approaches investors for subsequent rounds of funding.

The position will report to Mr Sudarshan Motwani, CEO.

Specific roles and Responsibilities

- Work with the CEO/COO to prepare business plan and track progress against it

- Control all FP&A related deliverables

- Tracking transaction flows to reduce related costs at all stages of transaction lifecycle

- Ensure timely books closure at month end & MIS report Preparation

- Ensure annual report finalization and internal and external audit in a timely manner

- Ensure efficient Payment Gateway Reconciliation, Product wise Revenue Reconciliation, Card Encashment Reconciliation, Petty Cash Reconciliation, Party Ledger Scrutiny.

- Ensure timely vendors payments (Cash Back, Delivery Charges, Employee Reim, B2B Commission, Other Admin and MIS)

- Prepare & Maintain Commission/R&R/Incentives & Analysis of same.

- Update Debtors Report, Expense Report, BRS Report and Other Schedules and MIS Work.

- Prepare intercompany reconciliation and accounting of FX adjustments

- Accounting of Accruals, Purchase Order, Prepaid Expenses etc.

- Ensure effective dealing with banks as requires

- Make quality daily / monthly / quarterly reports for regular business review

- Control receivables from clients where applicable

- Any other task related to accounts/finance

Desired Qualifications & Experience

- 10 to 15 years' experience and at least 5 years as Financial controller / CFO in a mid size company. Experience in a reputed start-up will be preferred

- CA and preferably MBA Finance.

Desired Soft Skills

- Excellent organizational, multi-tasking, presentation and time-management skills

- Good analytical and number crunching abilities

- Ability to effectively interface with all levels of internal and external stakeholders

- Knowledge of Tally ERP 9, MS Office (Specially Advance Excel & Word) and Internet suffering.

- Must be seen as very fair though tough task master

- Must be a fast learner and should have excellent knowledge of company's products and services apart from industry information

- Professional approach to problem solving

- Ability to maintain professional demeanor under challenging situations