DGM -Finance & Accounts & Controlling
Vestas Wind Technology India Pvt. Ltd
Total years of experience :26 years, 1 Months
Main functional focus of the role: Overseeing, monitoring, and controlling Accounting functions globally at the Corporate level for the holding company, its subsidiaries, SBUs, SPVs/JVs (spread across India and internationally); and in particular:
• Accounting - Global accounting, corporate accounts, finalization, consolidation, statutory financial reporting, audits and timely regulatory filings with regulatory/govt. authorities, presentations to the board of directors and audit committee
• Controlling - budgetary control and financial oversight monitoring financial performance, and effective reviews of the revenues, cost, financial results and other parameters on regular basis; and flagging early warning signals on timely basis with practical recommendations to correct the situation; and strict cost management.
• Management Reporting, Financial Planning & Analysis:
o Consolidation of budgets and business plans
o Management Reporting / MIS Regular analytical MIS on timely basis; and ad-hoc/ special reports and analysis as needed
• Projects Monitoring: Project-wise accounting, strict monitoring & control of the costs and profitability of large numbers of projects.
• Internal Financial Controls: Ensure a robust framework of Internal Financial Control on Financial Reporting
• Policies, Systems and processes
o Laying down accounting and operational policies, standard operative procedures (SOPs)
o Regular review and improvement of business processes, and systems
o Introduction and implementation of contemporary processes, systems and technologies to improve efficiency/ productivity/ speed and lowering costs
• Support Corporate Governance: Aid in effective corporate governance by proper compliances with all applicable statutory requirements especially concerning financial reporting, audits, taxation, company law intra group/related party transactions
• Taxation - Direct and Indirect Tax planning and compliances; and the most tax-effective structuring of contracts/deals/transactions; Dealing with tax authorities for tax assessments and appeals
• International Taxation - Dealing with International Taxation and Double Tax Avoidance Treaties (DTATs)
• Liaison & Coordination: Represent the company and liaison with auditors, consultants; tax authorities, regulatory authorities; and also internally with the top management, peers, departments heads, controllers and management of the group companies/affiliates, etc.
Taking Care of Entire Finance & Accounts functions besides All Administration with HR Activities
AREAS OF EXPOSURE
FINANCE
Ø PROJECT APPRAISAL AND REPORTING
Ø LIASONING WITH COMMERCIAL BANKS FOR SOURCING & DEPLOYMENT OF FUNDS
Ø FURNISHING INFORMATION RELATING TO CREDIT MONITORING ON PERIODICAL BASIS TO BANK/FINANCIAL INSTITUTIONS VIZ., SOD, QIS, CMA DATA.
Ø PREPARATION OF SHORT TERM CASHFLOWS, BUSINESS PLANS AND NEGOTIATION WITH BANKS
Ø INSTRUMENTAL IN OBTAINING SHORT TERM LOANS AND ADHOC LIMITS FOR WORKING CAPITAL.
Ø WORKING KNOWLEDGE FOR GETTING RATING - CARE/CRISIL
ACCOUNTS
Ø ONLINE MAINTENANCE OF COMPLETE FINANCIAL AND COST RECORDS
Ø FINAL ACCOUNTS PREPARATION AND ENSURING ALL STATUTORY COMPLIANCE
Ø SETUP FORMATS FOR MONTHLY, QUARTELY, AND ANNUAL MIS REPORTING
Ø REDEFINED CHART OF ACCOUNTS AND DEVELOPED IN-HOUSE SYSTEM IN COMPUTERISED ACCOUNTS
Ø CONSTANT REVIEW OF ACCOUNTING PROCESS, REDEFINING AND CREATING SUB MODULES FOR EFFECTIVE DATA PROCESSING
Ø INTERFACING WITH STATUTORY AUDITORS & INTERNAL AUDITORS FOR ALL STATUTORY RELATED ACTIVITIES.
Ø SUPERVISION OF PLANT ACCOUNTS FOR THE UNITS AND ITS CONSOLIDATION AND FINALISATION OF ACCOUNT/AUDIT AND ENGINEER ACCOUNTING POLICIES AND PROCEDURES TO MEET ACCOUNTING STANDARDS.
STATUTES
INCOME-TAX
Ø TAX PLANNING
Ø CALCULATION OF COMPANY ADVANCE TAX
Ø SUBMISSION OF RETURNS
Ø COMPUTATION OF EMPLOYEES INCOME-TAX AND TAX DEDUCTION
Ø APPEARED BEFORE IT AUTHORITIES AND LEGAL CONSULTANTS ON MATTERS RELATING TO INCOME-TAX
SALES TAX
Ø FILING OF SALES TAX RETURNS AND ENSURING COMPLETION OF SALES TAX ASSESSMENT
Ø CO-ORDINATING WITH COMPANY LEGAL CONSULTANTS FOR SALES TAX ASSESSMENT AND APPEALS
EXCISE
Ø SUPERVISING THE RETURNS SUBMISSION ON EXCISE MATTERS
Ø CO-ORDINATING FOR LEGAL MATTER FOR EXCISE APPEALS
Ø SUPERVISING THE PAYMENT AND SUBMISSION OF PROVIDENT FUND & E.S.I RETURNS
MIS & BUDGETING
Ø PREPARATION OF FUND FLOW AND CASH FLOW STATEMENTS
Ø PREPARATION OF MONTHLY OPERATING STATEMENT
Ø PREPARATION OF REPORTS FOR ROUTINE AND STRATEGIC DECISIONS
Ø EVOLVED A SUB MODULE FOR FINANCE APPROVAL FOR ALL INDIRECT EXPENDITURE
Ø INSTRUMENTAL IN COST REDUCTION BY REPORTING OF WEEKLY ACTUALS AND DRIVING OF ACTION PLANS