Chief Financial Officer - Mfg

Position Title - Chief Financial Officer

Division / Department - Finance and Accounts

Location - Bangalore

Reporting to - MD

JOB PURPOSE

- Strategic Financial Planning and growth of the organization.

- Supporting organization for its growth by ensuring efficient sourcing and deployment of funds.

- Jointly responsible for the Top and Bottom line profitability.

- Responsible for setting financial processes and ensuring statutory governance and regulatory Compliance for the organization and maintaining the operations at low cost.

- Being a strategic financial advisor to the MD and the Board.

- Responsible for both business and operations acumen at Bangalore .

PRINCIPAL ACCOUNTABILITIES

(List the responsibilities/duties associated with the job. For each responsibility listed, give the factors on which an individual’s performance is judged).

Accountabilities

- Actively support Managing Director in sourcing, deployment of long term and short term fund requirements

- Identify and assess various debt and equity instruments to ensure funds are raised at minimum cost.

- Coordinate and execute fund raising for strategic transactions centrally.

- Plan, co-ordinate and develop presentation activities for fund raising and developing creditor relationship

- Manage relationships with banks, creditors, investors, analysts & rating agencies

- Support internal Audit Team in assessing process adherence and leakages

- Ensure implementation of an efficient cash management system at all levels to minimize idle money.

Key Performance Indicators :

- Timely availability of funds

- Weighted average cost of capital

Accountabilities

- Develop fiscal policies, processes and systems to ensure fiscal discipline

- Define policies and guidelines for financial reporting, taxation and control keeping in mind Indian accounting standards/requirements

- Establish systems and controls for accounts, audit, financing, treasury, cash flows and financial processes.

- Ensure timely preparation and release of various financial reports by building strong accounting processes.

- Interpret upcoming tax legislations and provisions and analyze implications for the organization and ensure tax efficient ways of dealing with internal and cross boundary transactions

- Develop contract and procurement strategies with internal customers and manage their execution

Key Performance Indicators :

- Timely preparation and release of various financial & reports

- Performance on key metrics around financial health, capital adequacy and capital allocation

- Tax advantages generated for the organization within statutory and legal compliance framework.

Accountabilities

- Establish financial controls and processes and monitor compliance and efficacy

- Develop centralized MIS reporting systems for all financial accounting and audit information

- Develop and monitor budgets and operating plans at the business, region and factory level

- Analyze and interpret operating results to help business heads to take corrective action in the areas of working capital, cost , ROI etc

- Monitor compliance to secretarial, taxation and legal requirements, assess for legal and statutory exposures, take corrective action and ensure 100% compliance

- Ensure regular review of performance contracts with vendors

Key Performance Indicators :

- Integrity of all financial data and reporting.

- % deviation between planned and actual expenditure

- Quality of business decision support

- 100% compliance of statutory and regulatory requirements.

Accountabilities

- Ensure effective management of Stovekraft’s investment portfolio by directing and controlling the operations of the treasury unit

- Identify portfolio diversification opportunities keeping in mind the risk appetite and size of liquid holdings to ensure effective management of foreign exchange and interest rate risks

- Monitor all aspects of fund management and liquidity risk management

Key Performance Indicators :

- Variance between expected and actual rate of return in each of the portfolio options Aggregate ROI

- Liquidity of investments

Accountabilities

- Ensure a low cost operator model

- Minimizing the procurement cost of major capex items

- Minimizing the operating cost of doing business by efficient negotiation on Marking Communications, AMCs, fuel, energy, office space, rentals, purchase of raw materials etc.

- Ensure strategic and tactical alliances with major vendors in India and globally

- Conduct a business case analysis for all capex items, marketing spends, new product launches, etc.,,

Key Performance Indicators :

- Cost of manufacturing a product

- Low production cost

- Manufacturing profitability

Accountabilities

Support the business as a legal expert and Company Secretary cum business advisor and contribute to effective decision making

- Analyze the prospective projects/businesses in light of the legal guidelines, provide comments and suggestions to the CEO and Board with respect to the relevant legal , statutory and secretarial issues and contribute to effective decision making

- Interpret applicable laws, rulings (including precedents) and protect business interests by ensuring minimum legal exposure arising from current and future legislations

- Ensure statutory and secretarial compliance, maintain repositories of all legal documents and facilitate seamless flow of information to Stovekraft Management, including Board reporting.

- Support local business teams to effectively deal with local legal issues, statutory and regulatory approvals, show cause notices and litigation if any

Key Performance Indicator

- Quality of legal inputs to support business growth

- 100% documentation and compliance w.r.t Company Secretary and Legal Matters

- Quality of business support, speedy resolution of local legal issues

Accountabilities

People and Capability Development

- Recruit the right talent and develop them through structured coaching initiatives

- Support and guide focused training, knowledge management initiatives and structured exposure to best practices

- Establish individual performance expectations and regularly review individual performance and recommend appropriate rewards and recognition

- Review performance management, reward and recognition and career & succession planning decisions at an organizational wide level

- Drive organization and culture building initiatives and support cascade of values/ desired behaviors across the organization

Key Performance Indicator

- % vacancies in critical positions

- Succession planning & pipeline for business critical positions

- Engagement Scores

- % Retention

- Branding as “Employer of Choice”

INTERACTIONS

External Interactions

Bankers and Financial Institutions: For managing funding requirements

Tax Consultants: For support and expertise on tax planning and remittance issues

Statutory & Regulatory Authorities: For compliance and certification purposes

Auditors: For coordinating Audits and ensuring compliance requirements are met

Service providers and Vendors: During identification, selection and finalization process and to ensure quality of services, products.

SKILLS & KNOWLEDGE

Educational Qualifications & Relevant Experience

- Chartered Accountant

- 20+ Years of experience in a capital intensive business (extensive experience in fund raising) with 3-5 years of experience as a CFO of a large organization with experience in setting up and scaling financial control systems and processes. Experience in manufacturing home appliances is added advantage . Ability to understand and maintain a business finance specialist perspective is a must .

Technical and Behavioural Skills

- Ability to drive a common vision and culture across the team

- Ability to manage change, effective leadership, communication, interpersonal skills

Please send your resume to shankar@krnassociates.in