Finance Manager
Arab and India Spices
مجموع سنوات الخبرة :25 years, 6 أشهر
The company is one of the largest importer and exporter of Spices, cereals & pulses.
KEY RESULT AREAS:
Spearheading all financial transactions, reporting and policies for multiple companies and locations including:
o General Ledger account transactions and reconciliations prepared by accounting staff
o Fund management
o Fixed asset management and depreciation schedules
o Monthly variance reports for the service and operations departments
o Annual business license reporting and renewals
o Monthly financial statements and WIP schedules
o Sales, cash flow and financial projection reports
o Budget and forecasting reports
o External audit information requirements for timely completion of audit schedules
o Receivables and inventory ageing analysis
o Payroll Review
Recruiting and mentoring finance staff for current and future roles including posting advertisement for the position, shortlisting the candidates, interview, recommending to HR & Director Finance
Monitoring the claims receivables from vendors and ensuring its timely receipt
Reviewing and approving the costing of the imports
Assisting in preparation of budgets and forecasts
Working with the Statutory Auditors, Internal Auditors, Insurers and Bankers
Performing revenue & cost analysis
Collating and conducting contract wise and segment wise profitability analysis
Reviewing and approving Letter of Credits for Imports as well as Exports.
Analyzing and interpreting various contracts, negotiations and inclusion of new terms and conditions-Corporate/ Non-Corporate Customers, Insurance Companies, Contractors, Suppliers and other external parties
Closely interacting with the Chairman for generating ad-hoc reports
Interfacing with key customers for regular payments
Reviewing the incentive policy for sales personnel
SIGNIFICANT ACHIEVEMENTS
Ensured the timely liquidation of aged goods by closely interacting with the Sales Manager
Trust Receipts Management
Nominated as bank authorized signatory for import letters related documents
Nominated as authorized signatory for release of payments through banks’ online portal
Successfully set-up Finance Department of the factory at Ethiopia, recruited finance staff, established the document flow, established the internal control and reviewed chart of accounts.
Ensured the successful entering of previous three years data into the computerized accounting system at our Ethiopia factory in a time bound schedule.
Initiated and introduced detailed checklist mentioning rules for monthly closing of books of accounts and reconciliations
Prepared and submitted loan proposal to Commercial Bank of Ethiopia
Spearheading all financial transactions, reporting and policies for multiple companies and locations including:
o General Ledger account transactions and reconciliations prepared by accounting staff
o Fund management
o Fixed asset management and depreciation schedules
o Monthly variance reports for the service and operations departments
o Annual business license reporting and renewals
o Monthly financial statements and WIP schedules
o Sales, cash flow and financial projection reports
o Budget and forecasting reports
o External audit information requirements for timely completion of audit schedules
o Receivables and inventory ageing analysis
o Payroll Review
Recruiting and mentoring finance staff for current and future roles including posting advertisement for the position, shortlisting the candidates, interview, recommending to HR & Director Finance
Monitoring the claims receivables from vendors and ensuring its timely receipt
Reviewing and approving the costing of the imports
Assisting in preparation of budgets and forecasts
Working with the Statutory Auditors, Internal Auditors, Insurers and Bankers
Performing revenue & cost analysis
Collating and conducting contract wise and segment wise profitability analysis
Reviewing and approving the creation of new GLs / new vendor master in SAP
Reviewing and approving Letter of Credits for Import purposes
Interacting with SAP Implementation Team on the reports required from time to time
Analyzing and interpreting various contracts, negotiations and inclusion of new terms and conditions-Corporate/ Non-Corporate Customers, Insurance Companies, Contractors, Suppliers and other external parties
Closely interacting with the President & Vice President for generating ad-hoc reports
Interfacing with key customers for regular payments
Framing the incentive policy for sales personnel
Planned and executed monthly / quarterly / annual closure schedules; provided monthly financial statements; administered the monthly closing process
Worked with Statutory Auditors, Insurance Companies and Advocates
Collated the data and created annual MIS reports for further analysis on financial performance, fund management, risk control & profitability
Created MIS reports on the market coverage of each salesman and analyzed performance level on product coverage, customer coverage and segment coverage
Implemented strict control mechanisms and liquidation plans to ensure control and timely disposal of near expiry inventory
Interfaced with software vendor for continuous improvements in various modules of the accounting software
Prepared Budgets & Cash Flow and monitored actual performance vis-à-vis budgeted data
Provided technical accounting support and interpretation to management and employees
• Preparing a variety of studies, reports and related information for decision-making purposes
• Providing technical accounting support and interpretation to management and employees
• Attending and representing department at various executive meetings for the dissemination of information
• Coordinating activities with other departments and work groups as needed
• Overall supervision of the Accounting activities
• Assist the Finance Manager in the finalization of the Profit & Loss Account and Balance Sheet.
• Preparation of division wise Budgets & Cash Flow and monitoring actual performance vis-à-vis budgeted data.
• Liaise with Internal & Statutory Auditors
• Evaluate the existing internal control systems / procedures to highlight the shortcomings and provide suggestions for improvement. Implement audit recommendations and ensure regulatory compliance.
• Generate monthly & annual MIS reports and provide feedback to the Management on financial performance, fund management, risk control, profitability etc. of individual teams & division as a whole.
• Co-ordinate with the Divisional Managers and Team heads to understand their business requirement which helps in striving towards the Organizational objective.
• Generate monthly MIS reports on the market coverage of each salesman & analyze their performance level as regards the product coverage, customer coverage, segment coverage etc.
• Monitor the inventory level & initiate appropriate steps to maintain it within the norms set by the management.
• Critically evaluate the net margins generated from each of the customers in the segments like Electronic Chain, Supermarket, Hypermarket etc. & advise the Divisional Managers accordingly.
• Interact with the Credit Controller for timely collection of the receivables.
• Generate ad hoc reports for Management decision making.
-Overall supervision of the Accounting activities
-Liaison with Bankers, auditors, Advocates
-Development & implementation of policies & procedures in the critical areas
-Involved in improving the accounting and inventory software by providing inputs to the software programmer
-Monthly branch and Bank reconciliations
-Preparing MIS reports for the management.
-Preparing and sending periodical financials to the major bankers
-Responsible for day to day funds management and keeping the check on the limits of Trust Receipt/Overdrafts and Local Bills Discounting
-Scrutiny of loan documents, agreements, rates etc. for adherence to company's policies
-Monthly bank reconciliations
-Other Monthly reconciliations including the balances confirmation of the branches
-Funds management and liaison with the Bankers
-Dealer disbursements
-Handling Foreclosures/Terminations of the Hire purchase agreements
-Assisting in the formulation of monthly expenses budget
-Liaison with external auditors for completion of Statutory audits of the branches handled.
-Filing of Professional tex and Sales tax returns regularly with the State Sales Tex authrities
-Compilation of important date and filing with the Income Tax authorities
-Overall supervision of the routine converns within the area of Operations and sending MIS Reports to the head office at Mumbai
Chartered Accountancy
Diploma in Taxation Practives
Bachelor of Commerce
