MCX - Chief Financial Officer

CFO Role and Responsibilities

Purpose of the Job:

The Chief Financial Officer (CFO), MCX assays a critical role of company stewardship and of overhauling and driving the finance organization in entirety. The CFO is the custodian for the MCX governance framework, ensuring this is well structured and stringently followed with nil compliance errors. The incumbent will ensure that all regulatory reporting requirements are met. The incumbent will implement automation and ensure that the internal organization is truly representative of a technology forward organization.

The CFO will guide, educate and advise all internal stakeholders, for instance, the Board of Directors (BoD) and its committees on financial matters, the implications of/on strategic decisions as well as Regulations.

As a member of the senior management and Executive Committee the CFO, MCX ensures business excellence, profitability through opportunistic growth and organizational development.

Candidate Profile:

Qualifications: Should be a Chartered Accountant

- Experience: Should possess at least 20 years of relevant experience of which at least 10 years should be at senior level in capital / commodities market and / or banking & finance sector. Experience as a Chief Financial Officer would be a major plus.

- Age: Not above 50 years. However, couple of year's relaxation would be acceptable in case of well deserving candidates.

- Reporting Authority: MD & CEO. However, candidate shall be directly accountable to the Board & the Audit Committee.

- Skills: Candidate should be comfortable with technologies and implementation of the same as organization wide initiatives.

- Should be able to manage a large corpus (INR 500 Crores) either drawing from experience or through devising and implementation of well-conceptualized strategy.

- Should have the ability to deal with the Board and its committees, drive change and ensure transparency of operations.

Key Responsibilities:

- CFO shall be responsible for the following functions of the Exchange:

Financial Reporting and Internal Controls:

- Reporting of accurate and timely results that provide insightful commentary and will facilitate informed business decisions and actions;

- Assessment of the existing Internal Reporting Systems, MIS, and redevelopment of the same to enable and intelligent representation of information and its analyses, with an objective to facilitate and support decisions.

- Major cost focus and adherence to budgetary guidelines, Optimising the use of technology through the finance organization;

- Establishing stringent processes and ensure Internal Control practices that are completely compliant to SEBI regulations and guidelines, and the Companies Act;

- Implementation of new requirements in Accounting and Taxation Standards and the Internal Financial Control Framework as required;

- Ensuring complete compliance as well to all SEBI listing requirements and publishing accurate and timely reports; and

- Making timely recommendations to various financial bodies.

Treasury Management:

- Assuming the role and responsibilities as the 'chief investment officer', and apart from Cash and Working Capital Management, overseeing Treasury Operations and investments (with banks, Mutual Funds and other issuers) of the Company's funds;

Audits / Risk Management/ Mitigation:

- Partner with business leadership to provide transparency, predictability and accuracy forecasts;

- Manage the Audit Function (statutory, internal, regulatory, special), Taxation (direct and indirect), Budgeting, and Financial Planning and Analysis;

- Drive review rigor, mentor and develop the team to be alert, meritorious and performance oriented.

The CFO, MCX is not merely driven by number and will look beyond them to cultivate diverse data outlets and connect the information into a cohesive qualitative story. The incumbent must objectively formulate opinions and defend viewpoints with business partners instead of just reporting - and must be able to challenge existing norms, assumptions and courses of action, facilitating fully informed decision-making.