Position Objective: - The job holder will be responsible for managing Budgeting, MIS, and Logistics sub –functions in the Concept. The job holder will be expected to utilize and manage financial resources and systems necessary to deliver Concept operational objectives.
Minimum Requirements: -
8 – 10 years of experience in Finance and Operations preferably in a Retail environment with specific exposure to operational financial planning and budget control.
2 -3 years of managerial experience in an independent Finance / Operations / Commercial function
Education - CA / CPA / CIMA / ACA / ACS / ACWA / MBA
Key Responsibilities: -
Budgeting, Cost Control & MIS
Assist in the formulation of the corporate strategy for the year and finalization of annual targets along with other functional heads to implement the strategic directions.
Coordinate the setting up of sales projections and of purchase budgets based on projected sales for each shop in the territory and each department.
Coordinate operational, seasonal, buying budgets with the various management teams, including financial projections and cash flow statements, and ensure that they are prepared and finalized.
Analyze budgets of the Concept and Territory operations monthly, discuss and revise allocations if necessary.
Monitor the income and expenses versus budget, track the variances, recommend corrective actions and follow-up on remedial actions to ensure the adherence to the budget and to support the effective monitoring of performance within the budget for:
Retail productivity
Gross Margin and Net Margin for the Concept
Stocks and Sales
Conduct reviews and evaluations for cost-reduction opportunities.
Deliver set standards of MIS reports for various departments, ensure timely preparation and presentation of periodic MIS, and interpret data to suggest ways of cost optimization and store performance improvement.
Ensure thorough checking of the entire MIS prior sending to RNA and Corporate office while adhering to agreed timelines
Exercise necessary budgetary controls on all costs incurred by the Territories, ensuring that they comply with the drawn budgets
Ensure due compliance in accordance with financial control parameters accountable for Internal Control System
Coordinate with marketing for providing inputs on Margins, Mark Downs for promotions, campaigns, and in-season activities like sales
Evaluate and present feasibility of new projects and assess the financial implications of new or existing stores/ventures
Monitor Capital Expenditure plans for various territories.
Accounting and Audit
Ensure proper approval, authorization of all payments and ensure accuracy in timelines and accuracy in all payments.
Develop and maintain systems for prompt and accurate collection of financial and accounting information.
Supervise online accounting and ensuring accuracy of all transactions.
Ensure scrutiny and timely payment to all suppliers and supplier accounts reconciliation.
Ensure purchase protection by enabling recoveries from suppliers.
Ensure creditors accounting and the non – RNA company accounting is taken care of
Supervise timely and accurate internal audits and finalize Accounts for the Concept
Review and validate Payroll, Overtime payments and Incentives on time.
Manage all staff requirements like Salary Certificate / PP / HRA Approval etc.
Implement controls and procedures for debtors’ invoices and for monthly cash certificates.
Review and authorize banking transactions.
Review and Authorize Petty cash / Medical / Leave Settlement vouchers.
Review and approve Supplier payments.
Warehousing, Inventory and Logistics
Ensure optimal / economic stock holding.
Negotiate and review arrangements with local purchase suppliers, non-trading material suppliers.
Supervise, control, and authorize all purchases (local+ non-Trading)
Ensure the stocks are in line with pre decided norms on terms of stocks levels, stock ageing, and slow-moving items, to take timely decisions whenever required.
Help the corporate team in managing and overseeing in-bound and outbound logistics activity.
Coordinate with the central warehouse for receiving, warehousing and delivery of product in a manner consistent with Concept service and cost objectives.
Ensure timely delivery of shipments to various territories along with Imports Department / RNA
People Management
Manage the performance of the team – set annual performance goals, monitor performance, and provide constructive feedback to improve performance.
Identify their training and development needs and ensure their fulfilment.
Develop and mentor subordinates to move to the next higher level of job through career planning.
Ensure compliance to Company policies and values.
Miscellaneous
Implement improvements in business processes as directed by Head - Finance
Represent the Concept in all financial matters with banks, auditors, and other relevant parties.
Train and educate the team members about errors/new developments
Ensure that all the Concept assets are safeguarded
Monitor Franchise agreements of various brands (if applicable)
Monitor and renew Lease Contracts/AMCs/TL/ Insurance (if applicable)
Handle renewal of Trade Licenses / Lease Agreements / Commercial terms and Trademarks
Coordinate with the corporate legal team for any legal matter of the concept.
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