Tower Lead
3 weeks ago
Job Summary
- To lead the Account to Report tower within the Finance Shared Service Centre for IFFCO Group
- To own overall accountability for various Account to Report processes including financial accounting, balance sheet reconciliations, inter-company reconciliation etc. for all Business Units within IFFCO
- Roles & Responsibilities
- Achieve all established SLAs and efficiency targets through automation, standardization and improvements in existing processes Operational
- Act as the interface between senior management and SSC for all information pertaining to Account to Report
- Coordinate with functional teams and understand the various reporting requirement
- Coordinate with ERP team to enable ERP system to be able to provide the required reporting
- Analyse and signoff all management reports and audited financial statements/ reports for the SSC
- Receive and discuss ad-hoc reporting requests, and provide the needful. Consider additional periodic reports to replace ad-hoc requests
- Ensure timely and accurate closure of financial statements pertaining to SSC and ensure adherence to all the regulations and policies setup by corporate Finance during the statement preparation process
- Support the Head Finance SSC in ensuring financial control systems and procedures for analysis of complex accountancy/ finance issues and thus ensure efficient financial accounting and planning
- Supervise and oversee timely and accurate completion of balance sheet reconciliation process
- Supervise and oversee timely and accurate posting of all general ledger entries for various business units serviced by Finance SSC
- Create and monitor a system of controls, procedures, and forms for the recordation of fixed assets
- Conduct expense analysis of all general ledger classes and provide necessary inputs to management for correction
- Recommend any updates to accounting policies related to fixed assets to the management
- Oversee recording of fixed asset acquisitions and dispositions in the accounting system
- Track the compilation of project costs into fixed asset accounts, and close out those accounts once the related projects have been completed
- Ensure accurate reconciliation of balances in the fixed asset subsidiary ledger to the summary-level account in the general ledger
- Review and update the detailed schedule of fixed assets and accumulated depreciation
- Investigate the potential obsolescence of fixed assets and conduct periodic impairment reviews for intangible assets
- Conduct analyses related to fixed assets as requested by management regarding write-offs or initiate efficiency improvement exercises
- Prepare audit schedules relating to fixed assets, and assist the auditors in their inquiries
- Represent the company during any audits by government/external auditors that involve fixed assets
- Track company expenditures for fixed assets in comparison to the capital budget and management authorizations
- Oversee processing of all inter-company non trade reconciliation entries
- Frequently sample entries in general ledger and balance sheets prepared for spot checks
- Provide query resolution support to the Business Units in case of escalations and complaints
- Develop and maintain General Accounting KPI’s to manage efficiency and effectiveness of key accounting processes/ balances. Initiate reviews with appropriate stakeholders, establishing improvement actions and monitoring thereon People
- Allocate work to subordinates, nominate for training as per guidelines, conduct performance reviews and manage leave and overtime to ensure efficiency.
- Participate in the identification of training and development initiatives for all subordinates
- Drive the engagement and satisfaction of the team through holding periodic meetings to discuss the achievements and address any employee issues and/or concerns. Build an effective, efficient and motivated team
- KPIs
- Adherence to timelines for balance sheet preparation
- Accuracy and timeliness for general ledger entries
- Accuracy and timeliness for fixed asset accounting
- Accuracy and timeliness of all mandatory financial reporting
- Work experience requirement
- 7+ years of experience in Finance Shared Services with 4-5 years of experience in leading Record to Report/Account to Report functions in a Finance Shared Service Centre- Qualification
- Chartered Accountant - MBA Finance (preferable)
- Competencies
- Ownership & Result Orientation
- Oracle/SAP ERP
- Advanced Excel
- Financial Transaction Processing
- Financial Operations
- Financial Compliance
- Self and Team Management
- Planning & Decision Making
- Strategic Thinking
- Change Management
**Business Unit**:Corporate-Finance (4198)**Business Group**:Finance (234)
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