DGM - Financial Reporting - Retail/FMCG/Big4

DGM Financial Reporting

Experience : min 7-10 years in US GAAP, India GAAP, IFRS, Accounting policies, Fixed Assets

Industry : Big4, FMCG, Retail

Team handling experience : Required

Accountability :

- Monthly closing of books of accounts of entities Review, analyse and finalization of monthly all Store P&L( 21 C&C), Home office P&L for all entities and all Balance Sheet Accounts and ensuring monthly closing within defined timelines.

- Ensuring accurate classifications of Balance Sheet items and flux analysis

- Analysis of Expats cost and ensuring accurate accounting

- Ensuring Intercompany entries are eliminated during closing

- Review Monthly Country Level Consolidation of all the entities for management and statutory reporting.

- Provide Forecast of Expenses to Planning Team for accurate forecast of business to the management.

- Monthly/Quarterly variance analysis and reasoning to the stakeholders for better control

- Ensure cost center accounting for the better control of expenses.

Control and Review General Ledger Accounting Ensuring lease master data is updated with relevant information- Review of lease master data, analysis of operating vs. Finance lease and its accounting accordingly.

- Review and analysis of expats cost cross charged from HQ

- Ensuring accuracy of Intercompany billings between the entities and to HQ

- Review Fixed Nature expenses schedule i.e. Rent, CAM, Legal & Professional, IT Expenses and other employee benefits schedules i.e. Leave, Gratuity and long term incentive plan etc. .

- Review Investment accounting and ensuring correct accounting.

- Review Loan accounting, ensuring covenants are met with as per the loan agreements

- Pre-paid expenses, Royalty, Management fees and other general ledger accounting.

- Review of Bank Reconciliation and timely closure of open items.

- Review all transactions with related parties and ensuring correctness of presentation to management and legal compliances.

- Ensure maintenance and control over Chart of Accounts.

- Review of open purchase orders in system to ensure the accurate provisioning or closure of these purchase orders.

- Maintenance of details for Capital and Operating expenditure in foreign currency.

Ensuring Fiscal Reviews/BUAR Reviews/Monthly Balance Sheet Reviews Reviewing each and every account of balance sheet to identify any risk involved

- Monthly Fiscal Reviews/ SVCCL Reviews

- HK Balance Sheet Reviews

- Preparation of data for BUAR reviews and attending BUAR reviews

- Review and Submission of finpack to Bentonville

- Review and Submission of footnotes to Bentonville

Payable process, vendor management, BPO Management (AP Outsourcing Ensuring strict compliances for Accounts Payable to release payment in time operating at 98% efficiency in managing TAT for Accounts Payable. Review of Invoices on daily basis for accuracy and compliance with anti corruption and other policies

- Follow up with various functions on clearance of various aged items to improve health of financials

- Conceptualized & effectuated SOPs for effective controls and management of Accounts Payable

- Timely redressal of payment related issues of vendors and associates and providing solution to them.

- Ensuring service level of 99% of Genpact in terms of productivity and accuracy in invoice processing. Structured review process with Genpact Leadership for new initiatives and maintaining the process health.

Fixed Assets and Inventory management Ensuring accurate purchase and inventory accounting in system through reconciliation from various reports

- Ensuring the necessary purchase adjustment for purchase return, APMC Accounting, Freight Accounting, LBT Accounting, Coops.

- Ensuring LBT Compliances in terms of accruing LBT/Deposit of LBT within defined timelines

- Ensuring reconciliations of Goods in Transit from DC and store to store movements.

- Ensure component wise margin reporting at store level with accuracy

- Review of margin report for margin reporting at across stores/ formats level.

- Ensuring accurate capitalization including provisional capitalization in books of accounts

- Ensuring physical movements, STN and physical verification of fixed assets

- Ensure appropriate depreciation charge based on company policy and Indian Companies Act

- Control and review of provisions for Dark Stores ($ 27 Mn approx)

Statutory Quarterly, Annual and Tax Financial as per IGAAP and USGAAP Ensure compliances to Wal-Mart Accounting guidelines, IGAAP and US GAAP polices adherence within Organizational overall guideline

- Ensure timely and accurate input as Technical Coordinator and work closely with Regions in collaboration with Country Controller and Regional Controller

- Review and Finalization of Statutory Financial Yearly/Tax Year as per IGAAP and USGAAP.

- Coordination with Statutory & Tax Auditors and ensure closure of all audit issues within audit timelines

- Monitoring of all audit progress and issues and ensure speedy resolution

- Review of Leave, Gratuity and Long Term Incentive valuation and validation of assumptions adopt by the Actuarial and people team.

- Coordination with cross functions for audit related issues and information which are part of financial i.e. Legal Department, treasury, Assets Protections, Business Planning, operations etc.

- Review impairment testing of all the CGU and ensuing proper adjustment in books of accounts.

- Monitoring going concern issue and its timely resolutions from the appropriate stakeholders.

- Review Bank Guarantees, disputed claims and capital commitment etc.

Systems, Processes and Policies Review Review of policies on consistent basis and giving feedback on International policies

- Review of various process and working towards automation of same

- Review of various internal policies/agreements and giving feedback to leadership and respective functions

- Review of changing laws related to Companies Act, Income Tax, I GAAP and US GAAP

Regular Meetings in Office Engagement in CSR initiatives and also encouraging team members for the same

- Monday morning Meeting

- Monthly Finance Team meeting

- Direct Reports meeting with Controller

People Management Feedback to team

- Understanding issue and problems of direct reportees

- Mid Term and Annual Appraisals

- Training Needs of Team