Assistant Manager - Finance

Position Title

Assistant Manager

Level/ Grade

Asst Mgr

Functional Area

Finance

Location

Bangalore

Reports To

Direct: Project Finance Head

Job Code

Dotted: Regional Finance Head

1. Basic Purpose of the Position

The incumbent is responsible for ensuring timely completion of all accounts activities in the region. This includes processing of payments to vendors, preparation of region MIS, regular updation of books of accounts, accounts closure and preparation of balance sheet for the JV partner company.

Role Responsibilities

Responsibility Area

Key Activities

Indicative Performance Measures

Financial/ Strategy

1. MIS and Financial Reporting

• Consolidates monthly/quarterly updates of various projects on revenue, expense, outstanding, cash flow, billing

• Prepares profit and loss statements and monthly closing and cost accounting reports

• Prepares MIS report for the region on a weekly , quarterly and monthly basis

• Prepares project MIS to be sent to JV partner at defined frequency

• Accuracy and timeliness

Operational / Customer

2. Bill payments

• Verifies bills received from Contracts/ vendors/ suppliers w.r.t signed agreements, statutory compliances etc

• Coordinates with respective departments/vendor/supplier/consultants for clarifications if any

• Follows up for approval of payments with HO team for payouts beyond Rs 10 lakhs (specified limit)

• Prepares cheques for payout process

• Authorizes payment basis availability of funds in allocated account

• Schedules payments of bills- electricity, rent , contract bills etc

• Arranges for fund transfer to JV partner(s) according to the agreement

• TAT

• Adherence to agreement, taxation laws and authority matrix

3. Accounts Maintenance

• Compiles financial information to prepare entries to accounts, such as general ledger accounts, bank reconciliation

• Makes timely entries to ensure real time updation of Books of accounts on SAP, accuracy and right booking

• Books billing/payments/ revenue / profit and project completion according to company codes

• Consolidates region accounts and completes Quarterly / half yearly/ annual book closing activities

• Ensures adherence to accounting guidelines

• Studies upcoming JV agreements for transferring entries to existing books

• Accuracy and timeliness

• Updated books of accounts

4. Banking transactions

• Monitors bank accounts and coordinates with banks for status of allocated fund from HO , transfer of funds and collections

• Provides inputs on fund status and additional fund requirements to HO

• Completes bank reconciliation activities on time

• Resolves loan related issues with banks

• Accuracy and timeliness

5. Treasury

• Monitors allocated fund from Corporate.

• Manages allocated fund to projects, interests charged, remission etc.

• Timely Availability of funds

6. Collection

• Monitors and updates customer collection status

• Addresses and resolves financial/ collection related queries by customer

• Resolves loan related issues with banks

• Accuracy and timeliness

7. Tax Payment

• Ensures VAT Tax payments as applicable for Bangalore and Chennai/ deductions on land and labour component

• Verifies deduction of service tax from customer and vendor payments

• Prepares details of Work Contract tax (WCT) to HO for DD preparation

• Ensures timely filling of Service tax / WCT payments through consultants

• Timely and accurate filing of tax returns

8. Audit

• Interacts with internal and external auditors for documentation submission requirements

• Clarifies queries raised by auditors

• Effective handling of audit queries

Responsibility Area

Key Activities

Indicative Performance Measures

9. Administration

• Vendor accounts, Stationery purchase, courier empanelment, AMC.
• Vendor payables, cash management , fund management

Cost Saving

Process

1. Process Adherence

• Complies with company defined guidelines and processes

• Adheres to project timelines

• % Process compliance

2. Process Improvement

• Identifies processes/procedures in own work area that need improvement

• Recommends process improvement ideas to streamline efficiency/costs/productivity

• Undertakes process improvement activities in own work area

• Initiatives taken

• Impact of process improvement ideas

People

1. Goal Setting

• Conducts goal setting exercise for the role

• Prepares goal sheets

• Defines and sets work objectives for team members

• Balances work allocation in team

• Timeliness

2. Recruitment

• Recommends manpower for the region

• Conducts interviews for all requirements in the team

• Lead time in closing positions

3. Performance Management

• Conducts weekly review meetings and regular performance reviews with the entire team

• Provides guidance and direction to team members

• Conducts periodic reviews and year end appraisals for team members

• Timeliness of appraisals

• Objective appraisals

4. Culture Building Contribution

• Recommends and implements policies to ensure retention of the high potential/performing employees

• Acts as first point of contact for communication, interpretation and implementation of management decisions to direct reporting subordinates

• Communicates and implements GPL values/ processes/systems within own team

• Attrition %

10. Working Relationships (Internal And External)

Internal Interfaces

Purpose of Interaction

Design, Projects, contract, BD

For daily financial activities payments/ reports

Marketing & Sales

Customer payments/ generation of Reports for sales admin team for documentation / record keeping

External Interfaces

Purpose of Interaction

Third Party Contractors

PF, ESI, contract documents

Local Consultants

For local tax payments

Tax authorities

For filing of returns

Auditors

For audit related clarifications

Customer

For resolving customer related problems

Banks

Money transfers, payments, collections, etc.

JV Partners

Maintaining their books of collections

11. Decision Making Authorities

1. Functional

Issue of cheque

Recommendation for appointing consultants

2. Financial

Signing authority for cheques clearance upto 25 lakhs, post signature of regional head.

12. Position Specifications (Know-How, Skills and Knowledge for this position)

Current Incumbent’s

Education Qualification & Experience

B.Com, CA

Threshold Education Qualification & Experience

B. Com CA

Functional/ Technical competencies

• Accounting Standards and guidelines
• Financial Policies and Systems
• Indirect Taxation Knowledge
• Understanding of real estate
• Basics of construction processes
• MIS Reporting
• Analytical skills
• SAP,
• MS Office
• Accounting software

Behavioural Competencies

Leading Self

• Initiative: Drive Ownership, tenacity
• Hunger to Learn & Improve: Humility, Growth Mindset, Committed to Change
• Emotional & Social Awareness: Maturity, self Awareness, Influence

Leading Others

• Leading Team: Creating high performance team, Adaptive, Motivator
• Developing Others: Nurtures Talent, Feedback, Mentoring
• Fostering Collaboration: Godrej First, collaborates, Builds Bridges

Leading Business

• Customer Centricity: Insightful, Innovates, Delights
• Acting strategically: Envision, frames Issues, Action Orientation
• Delivering Results: commercial Acumen, Execution Excellence, Agility
• Institution Building: Role Model, Knowledge Sharing, Shape Culture

8. Observations/ Interpretation

1. Nature of dotted line reporting to HO is for all reports and cheques.