Finance Manager
Safario Group of Companies
Total years of experience :17 years, 5 Months
1. Monthly business performance reporting, forecasts, budgets, long-range plans Interpret and analyze detailed financial reports, including variance analyses, to monitor performance and identify potential problems / opportunities.
2. Supervise year end audits and preparation of statutory and tax filings (VAT)
3. Forecasting and budgeting for existing operations. Manage the company’s financial planning,
including the annual budget process and monthly forecast reviews
4. Responsible for operational financial activities such as pricing, productivity, margin analysis and all other financial controlling and reporting functions.
5. Responsible for cash management activities including credit and collections, A/P and A/R
6. Interpret operating results as they affect the financial aspects of the business and make specific recommendations that will result in cost reduction, and/or profit improvement
7. Ensure the company adheres to corporate internal control requirements, including financial and operational policies and procedures, matrices and segregation of duties.
8. Ensure timely and accurate monthly financial closing in accordance with the management requirement. This requires that all necessary business transactions have been reviewed, approved and posted on a timely basis.
9. Work collaboratively with sales, marketing, R&D and supply chain departments to support business operations and decisions.
The job responsibilities at Hercules Global are:
1. Forecasting and managing the cash flow and day to day financing operations.
2. Preparation of quarterly financial results, budget, and quarterly forecasts, and completion of the reporting requirements.
3. Monitor the accounting entries and oversee the timely posting of sales invoices purchases and other journal entries including bank reconciliation.
4. Timely reporting to the management in order to facilitate decision making, both long term and short term.
5. Liaison with the financiers, banks and auditors.
6. Timely preparation and filing of VAT returns.
7. Review of the monthly Business Activity Statements and balance sheet reconciliations.
8. Review and oversee the weekly accounts payable run and prepare payment schedules for settlement of creditors, bank dues and other payables based on the receivables forecast.
9. Arranging working capital financing from banks and other NBFCs.
10. Effective utilization of bank credit facilities with regard to the working capital needs and long term needs of the company.
11. Securing credit from suppliers and negotiating payment terms
1. Monitor and execute the overall banking operations of the organization .
2. Effective utilization of available bank and other finance facilities (LC, Bank Guarantee/Bond, Invoice/Bill/Cheque Discounting, Trust Receipts) for the funding and smooth operation of projects.
3. Liaison with bankers/financiers for the activation of sanctioned finance facility by providing documents as and when required by the bankers viz. reports on company existing financials, company projected financials, other legal documentation (Mortgage, assignment of project, incumbency, corporate/personal guarantee, board resolutions etc)
4. Prepare and maintain company debt profile for internal as well as external reporting.
5. Prepare budget and cash flow forecast for each projects and see that the project working capital requirements are met with the assigned project specific bank/finance facility.
6. Prepare management and statutory reports, as and when required for reviews.
7. Liaise efficiently with Internal & External auditors to follow company and industry set financial procedures.
8. Maintain / keep track of bank dues and liabilities and plan the easy and early settlement bank dues for further rollover of facility to meet the working capital requirements.
9. Prepare, submit and follow up of documentation in line with the bank requirements with regard to the financing of capital expenditure (Plant & machinery, vehicles and other term loans).
1. Preparing documents for opening of Import/Export Letter of Credit and coordination with banks for the establishment/negotiation of L/C.
2. Issuance of Bank Guarantees (Performance Bond Guarantee, Advance Payment Guarantee, Warranty Guarantee/Bond etc.)
3. Preparation of monthly in-house income statement, statement of financial position, cash flow/fund flow statement. (Passing adjusting entries with regard to accruals and prepayments).
4. Prepare weekly ageing reports (receivables & payables) and forecasted accounts receivable & payable schedule based on sales order and purchase orders issued.
5. Recording intercompany transactions and costing. Preparation of branch profitability report and preparation of individual branch financials as well as consolidated financials.
6. Maintain customer ledgers/statement of accounts and follow up for payments with due diligence.
7. Monthly Reconciliation of Bank, Cash balances Accounts Receivables, Accounts Payables and Inventory accounts.
8. Assist external audit and closing books of accounts at year end upon completion of annual audit.
1. Independently manage all the accounting aspects and finance activities of the company up to finalization.
2. Preparation of Budgets and Forecasts for the financial period.
3. Evaluate Strategic Plan and Annual Operating Plan to ensure integrity and conformity to set standards and benchmarks.
4. Evaluate the monthly Income Statement to understand COGS drivers over and above purchase price.
5. Make regular reports to the senior management on income, expenditure and any variations from budgets.
6. Liaise and negotiate, as appropriate, with the funding authority and other funding sources on future service delivery initiatives and developments in conjunction with the Operations Manager.
7. Maintain appropriate relations with investors and make reports as necessary, ensuring compliance with any contracts.
8. Prepare cash budgets and management of trade payables and receivables.
9. Assist external audit and closing books of accounts at year end upon completion of annual audit.
1) Posting of journal entries, maintaining registers and logs following established accounting techniques and procedures.
2) Maintain various ledger accounts including reconciliation of general ledger, revenue accounts, expenditures and cash and bank accounts
3) Managing receivables & payables.
4) Financial data analysis, reporting and MIS
Assist in the audit function