Chief Manager - Corporate Consolidation - CA

Team/Department

Business & Location HO, Gurgaon

Reporting to Associate VP - Deputy Corporate Controller

Purpose

To present, prepare the COMPANY Consolidated accounts of the Group to comply with the regulatory requirements, currently MCA and ICAI (two sets of financials are being prepared-I GAAP and Ind-AS accounts)

Dimensions

Financials

1.Receive the information for I GAAP and Ind-AS accounts from 6 touch points (Global BV standalone, COMPANY Overseas, COMPANY Thailand-PFB and CB, COMPANY Thailand-TTB, COMPANY Industex, COMPANY Flexipak), review the I GAAP and Ind-AS adjustments and prepare the first set of consolidation at Global BV level and get the same audited. Total revenues for all the entities put together is INR 990 crores.

2. Consolidate the first set of consolidation with the COMPANY Limited, to prepare the COMPANY Consolidated financials

3. Understand the movement of various items affecting the profitability of the overseas business units like FCTR, Govt. grant., 46A adjustments, ECF expense, Finance Cost, depreciation, employee benefits and deferred tax etc.

4. Keep the above information ready for review during the quarterly/annual closing.

5. Perform the elimination adjustments in the consolidated accounts, both at Global BV level and COMPANY Group level, and ensure that impact in accounts of those eliminations are considered correctly

6. Keep the backup information of those elimination adjustments

People related

1. Receive the information related to I GAAP and Ind-AS accounts from the concerned person of overseas business units.

2. Receive information relating to certain elimination adjustments from the concerned person of the Indian business units.

3. No person is directly reporting, yet the deliverables have to be managed from the concerned person and delivered on time.

4. Assistance required from HO team members in completing and preparing the consolidated set on time.

5. Deal with Business CFOs in India for their support in receiving the timely information

6. Deal with component auditors (auditors of overseas subsidiaries) for timely completion of audit

7. Deal with Component auditors (auditors of COMPANY Global BV) for timely completion of audit of COMPANY Global BV consolidated financials 8. Deal with statutory auditors of COMPANY Limited for closure on consolidation queries

Organizational Relationships

Operating Environment

Challenges of the role

1. Dealing with Business CFOs of overseas subsidiaries having different time zones

2. Receiving information from BCFOs of overseas subsidiaries and delivering results on time, becomes challenge sometimes due to their own priorities

3. Not having face to face communication poses difficulty in understanding the complete picture of the issues, especially variances. This also poses difficulty in getting the timely information because of different time zones as their response time increases

4. Impact of currency fluctuations between INR and the corresponding currencies of the overseas business units poses difficulty in explaining the variations in numbers. The unit is able to explain the number in their local currency and what we present the numbers is in INR.

5. Understanding the vagaries of Foreign currency translation reserve and explaining further is one of the major issue while converting overseas business units financials to Indian currency or vise versa.

6. Reserves reconciliation of overseas business units in terms of I GAAP and Ind-AS becomes critical due to the fact that the whole consolidation process is being managed on excel

Principal Accountabilities & Responsibilities

Accountabilities Responsibilities Control Point

1. Preparation and presentation of COMPANY Consolidated financials

2. Receiving timely information from overseas business units

3. Impact of I GAAP and Ind-AS adjustments are captured appropriately and the adjustments are considered accurately

4. Keep all the workings for adjustments

5. Timely closure of statutory auditors queries on consolidation

6. Dealing with component auditors for finalization of overseas entities Financials and with component auditors of COMPANY Global BV for consolidation purposes as per the agreed timelines. Keep track of all audit issues raised and status on the closure

7. Consolidated RPT Schedule Review based on reconciliation and thereafter submission to Statutory Auditors

8. Preparation of I GAAP and Ind-AS financials of overseas subsidiaries, both in their local currency and Indian Rupee and to keep reconciliations /adjustments ready for the review with respect to key items like FCTR, Grant, Para 46 A, ECF, Finance Cost, Depreciation, Employee Benefits, Deferred Tax Calculation etc.

9. Standalone and Consolidated Variance Analysis Review and to ensure complete reasoning for the MD and Board presentation

Correct reflection of COMPANY Consolidated financials

2. Interfacing with COS team/dashboard team

1. Liasoning with COS team for developing reports from Oracle that have an impact on company as a whole and to ensure deployment as per the timelines.

2. Completion of I GAAP consolidation process from Oracle for consolidation of Kama Holdings

3. Dealing with Dashboard team for developing dashboards required for consolidation purposes

Development of reports on time

4. Preparation and submission of Ind-AS financial statements, including model financial statements 1. All workings required for the Model Financial Statements to be ensured from the Consolidation perspective for the timely closure and submission to statutory auditors

Correct reflection of first ever Ind-AS financial statements of the Group

5. Dealing with secretarial department for any requirement for quarterly Board meetings.

1. Delivering the requirements of Secretarial department for quarterly and annual Board meetings

2. Delivering the annual financial statements to secretarial department for annual report printing

3. Ensuring timely deliverables are handed over to them as per their requirement

6. Deliverables for KAMA consolidation

1. Delivering the financial statements of COMPANY Consolidated to KAMA Holdings for their consolidation process Delivering COMPANY Consolidated financials to the concerned team for their onward consolidation process

Working Relationships

Who do you interact with Purpose of interaction Frequency (How often)

Business CFOs of respective overseas subsidiaries Finalizing quarterly/annual consolidation process 1. On a daily basis during the quarterly/annual closing

2. Whenever any issue pertaining to their respective subsidiaries is being discussed by the senior management

BCFOs in India Support in getting the timely information during quarterly closings

Discussion on other matter pertaining to overseas subsidiaries 1. During quarterly closings

2. As and when needed

Secretarial department Understanding their requirements from consolidation team for quarterly board meetings 1. During quarterly closing

2. Whenever there is any change in regulatory environment that affects their deliverables and in turn our consolidation requirements from overseas business units are changed

Reporting manager Guidance and direction on the matters currently at hand, update of various tasks at hand Daily basis

HO team members Assistance during quarterly closing and discussion on on going routine matters

Regularly and more often during quarterly closings

Treasury team For understanding the interest expenditure related to overseas business units During quarterly closings

Decision Making Boundaries

Review of I GAAP and Ind-AS adjustment entries and communication of its impact.

Position Specification

Educational Qualification Chartered Accountant - First Attempt

Nature of experience Taxation and Consolidation of accounts