Chief Financial Officer - BFS

Job Title: Chief Financial Officer

Location: Kolkata

Department: Asset Based Finance

Function: Finance

Reporting to: CEO & President

Qualification and Experience:

- CA/Master of Business Administration in Finance or Equivalent Degree preferred

- Min 18 years of experience in relevant field

- Exposure to multiple accounting methods and tax laws is a pre-requisite

- Should have been in a leadership role in the last 5 years eg. CFO, Finance Controller

Job Summary:

- Contribute to the development of the organization strategy and business direction.

- Leads the development of the overall Finance strategy covering all aspects including accounting, investment, business planning and risk management activities;

- Work with the management team to ensure that Business Goals and strategies are aligned with financial Measures of Success;

- Liaise with major stakeholders;

- Oversee finalization and representation of the annual report with the objective of ensuring achievement of MBHI's strategic plans;

- Accurate and timely reporting of financials and maintaining & enhancing the company's reputation with the objective of supporting the company's growth plans

Key Responsibilities:

- Financial Planning & Analysis resource with a strong grounding and demonstrated experience in creating and managing financial plans.

- Ability to strategies and work with a peer group of Business and collections heads to meet business needs and advise the core team on financial implications of performance and course correction if any for the same.

Develop Vision and Strategy

- Analyze and anticipate industry & market trends

- Assess competitive scenario and participate in setting of strategy & future direction for MBHI as part of the company's leadership team

- Articulate the strategy for the finance function that supports business strategy and incorporates leading practices

- Recommend necessary actions and plans to the management committee in order to ensure sustainable business performance & shareholder value

Budgeting and Expense Management

- Drive the business planning & budgeting process by developing and deploying a framework for plans & budgets

- Provide assumptions & guidelines for budget preparations and oversee the budgeting process

- Review the financial aspect of operational decisions, such as marketing initiatives & proposals recommended for approval by Executive Management Committee

- Review pricing proposals & provide financial approval

- Create authority matrix & monitor adherence to the same to ensure that budgeting process is robust and helps coordinate & control operations

Finance Operations Management

- Analyze financial & operating performance regularly & suggest course corrections where necessary

- Ensure smooth functioning of financial processes, such as banking & reconciliation

- Identify performance improvement opportunities including cost reduction, etc & oversee implementation

- Monitor adherence to finance & business control policies

- Monitor accounts receivable and cash flow, solvency margins & capital efficiency ratios in order to ensure smooth functioning of financial operations

MIS and Planning

- Institute & maintain processes that would ensure integrity & timeliness of financial, cost & management accounting & reporting

- Oversee timely preparation of balance sheet, P&L statement & cash flows & their audits

- Keep abreast of financial & legislative changes that impact business

- Create & monitor performance dashboards from a financial perspective

- Collate annual & three-year plan and monitor timely sharing of financial information with shareholders in order to ensure compliance with finance & accounting standards & high degree of controllership in the company 

Investment Management

- Review performance of MBHI's investments and enable maximum yields in investments, oversee administration of cash, retiral funds & banking operations

- Oversee front end trading, brokerage, negotiations & maintenance of securities

- Review treasury budget and represent the organization on the Investment Committee to optimize risk-return profile on investments while ensuring availability of funds for budgeted activities and solvency requirements

Risk Management

- Assess & take steps to minimize risk in all areas - finance, operations & technology

- Oversee creation of assessment templates & processes

- Engage in dialogues with 'keeper of the risk' to take risk mitigation steps and look for leading indicators of possible risks

- Educate stake holders on managing risk, coordinate financial, operational & sales related audits

- Review internal audit observations & generate action plans with departmental heads & auditors

- Represent the organization on the audit committee of the board in order to ensure minimization of risks & compliance with audit requirements

Business Intelligence (BI)

- Collaborate with the respective business leaders in order to implement BI/analytics based technology and tools such as special software, analytical models, and reporting mechanisms to enhance business functioning

- Provide strong analytics & BI to provide direction to key projects

- Build cost effective Business Intelligence Unit and data warehouse for MBHI

- Collaborate on key initiatives where analytics is applied for business impact such as Customer segmentation and management, Agent segmentation

Capacity and Infrastructure

- Assess medium and long term capacity and infrastructure requirements against business plans

- Monitor capacity utilization and take steps to ensure optimization; develop expansion and infrastructure development plan

- Select appropriate deployment and economic models and prepare business case for key stakeholders to build capacity and infrastructure in line with growing scale of operations and company's future requirements.

- Drive the synergized procurement model for the group, optimizing cost and enhancing service efficiencies

Sucheta Bhilare