Chief Financial Officer at Aditya Birla Money Mart Ltd.
Job Description - Chief Financial Officer (150100OF)
Job Description
Requisition Title:Chief Financial OfficerJob Number::150100OFSchedule:Full-timePrimary Location:MumbaiOrganization:Aditya Birla Money Mart Ltd.
Introduction about the Business
A US $40 billion corporation the Aditya Birla Group is in the League of Fortune 500. It is anchored by an extraordinary force of over 136000 employees belonging to 42 different nationalities. The Group operates in 36 countries Australia Austria Bangladesh Brazil Canada China Egypt France Germany Hungary India Indonesia Italy Ivory Coast Japan Korea Laos Luxembourg Malaysia Myanmar Philippines Poland Russia Singapore South Africa Spain Sri Lanka Sweden Switzerland Tanzania Thailand Turkey UAE UK USA and Vietnam.Aditya Birla Financial Services Group ABFSG has built a significant presence across its verticals viz life insurance asset management NBFC private equity broking wealth management & distribution and general insurance advisory services. The seven businesses representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company Ltd. Birla Sun Life Asset Management Company Ltd. Aditya Birla Finance Ltd. Aditya Birla Capital Advisors Pvt. Ltd. Aditya Birla Money Ltd. Aditya Birla Money Mart Ltd. and Aditya Birla Insurance Brokers Ltd. ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of businesses with about 5.5 million customers manages assets worth Rs. 89571 Crores USD 19.9 billion and prides itself for having a talent pool of about 15000 committed employees. ABFSG is a part of Aditya Birla Nuvo Ltd. ABNL a USD 4 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group a USD 30 billion Indian business house operating in 31 countries across the globe.
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Accountability
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Supporting Actions
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To lead the financial forecasting and business planning process for the organization after considering multiple insights
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§ To lead the financial forecasting process
§ To formulate the financial plans in liaison with different functions considering factors like the product availability, customer base expansion, market situation, competition in the sector, tax efficiency, etc
§ To interact with internal and external stakeholders, monitor competitive trends and embed them in the business planning and strategy decisions
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To build a strong and transparent financial and Business reporting environment for effective analysis and decision making
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§ To institutionalize a strong MIS system for business exception reporting and analytical decision making
§ To assess the progress of the organization vis a vis the budgets on a periodic basis, highlight deviations and orchestrate course correction
§ To spearhead preparation of Organizational Profit & Loss Statement
§ To monitor the company management agenda and present the consolidated developments to the senior management
§ To facilitate business presentations to various stakeholders, board members and senior management
§ To lead analytics of business performance, operational performance and financial performance and report the same to relevant teams
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To regulate optimal fund structure, borrowings and investments through eff
ective treasury & fund management
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§ To source multiple relationships with banks, brokers and financial institutions for borrowing and deploying excess funds, CMS operations, etc
§ To ensure the best CP ratings with the best leverage limits to avail best borrowing rates
§ To set up bank lines and tie ups for meeting various funding needs of customers and regulatory requirements
§ To ensure that the bank reconciliations, regulatory compliances for funds management, timely payments to customers etc ensue within defined turnaround time (TATs)
§ To lead large commercial negotiations with prospective partners
§ To liaise with group companies in getting funds for working capital management
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To build a stringent accounting and audit regime and action oriented system for strong compliance in ABML, ABMML and ABCSPL
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To ensure that all tax assessments/payments, filing of returns & statutory regulations under all acts like RBI, Companies Act, VAT, Income tax act & Service tax act are complied with
§ To lead the development of action plans based on internal & external audit recommendations and monitor progress on achievements
§ To lay down strict maker checker concepts & rules
§ To support and guide the statutory and internal auditors to navigate through the financial records and help mitigate their concerns, if any
§ To liaise with tax regulators, accounting regulators and other capital market and other exchanges and
§ regulatory bodies on a routine basis
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To constantly monitor and review the effectiveness of policies, directives, and procedures
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· To continually review and challenge existing strategies and recommend alternative strategies to improve effectiveness of the operational activities
· To take prompt and decisive corrective action when necessary to ensure achievement of operational, quality, service and safety goals and compliance with policies and procedures
· To monitor operational progress against performance targets and organize counter-measures, when required
· To review business unit process performance against industry best benchmarks and suggest necessary action plan to achieve benchmarks; ensure complete sync with regulatory norms
· To review the Reporting/analysis, including business intelligence for internal (management) requirements, as well as client/merchant-facing requirements
· To monitor the SLA metrics including sizing of incident severity, resolution times and accountability for the same
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To ensure adherence to regulatory compliance requirements stipulated by various exchanges and regulators for all three entities, and to factor appropriate due diligence in the day to day operations of the organization in conjunction with CCRO ABFSG
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§ To institutionalize a strong process of monitoring fool proof compliance with the regulatory requirements and rules stipulated by the stock exchanges, SEBI and RBI like agencies
§ To set up process for escalating non compliances and tracking the process for closing the irregularities
§ To empanel experts and consultants for ensuring quick addressal of pending issues
§ To direct the Risk and surveillance teams for the Broking business in setting up robust mechanism for monitoring, control and execution of transactional, financial and operational risks.
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To directionally guide the legal & secretarial proceedings of the organizations in conjunction with CCRO ABFSG
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To drive policy formulation and implementation
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To develop a strong team and a performance oriented culture
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Qualifications
Chartered Accountant qualification is a must. Indian Rupee (INR)
Experience Level 16 - 20 Years Reports to: Senior President
