Business Finance Manager

Job description

Division Department Sub Department 1 Job Purpose The role is responsible to be Business partner as well as controller for CDHL which is a subsidiary of Cipla Limited The key objectives of this role is to partner with all aspects of business, marketing, legal, procurement, HR, distribution and IT team, to maintain P&L and balance sheet hygiene for the entity of CDHL and ensuring system improvements and simplifications to achieve smooth operations. To be fully responsible for all statutory compliances (Direct and indirect taxation included) The role also partners for Emerging channels which is the highest growing channel in India Business. It encompasses coordinating with business teams so as to ensure smooth billing and maintain good relationship with key stakeholders. Partner in all key negotiations which entail target fixations and TOD payouts. To help business with the financial planning as well as drive strong policy adherence to ensure operations are running in a compliant way. Key Accountabilities (1/6) **Business Control and Financial review - CDHL** **Entity Controlling:** - **Accounts closing**: Monthly Accounts / books closing by ensuring all the sales and expenses provision accounting and variance analysis. - Closure of statutory and management books of accounts on a monthly and annual basis - **Preparation of Financial Statements** **–** Cash flow and monthly P&L and Balance sheet accurately in time bound manner. - Timely review of balance sheet schedules and ensuring hygiene. - **Control Framework****:** Regular review and monitoring the control framework for CDHL. - Design DOA to simplify the approval process and to further strengthen the controls - Monthly preparation of review deck for Controllers and give detailed picture to management - Weekly review of vendor invoices and ensuring timely payments, mainly to MSME vendors. - Responsible for all statutory, tax and internal audits - **Statutory / Financial Compliances****:** Prepare statutory schedules and ensure timely closure of Audits. - Prepare Tax computations and responsible for tax compliance and Tax Audits. **Business partnering**: **Collaborating for Business expansion:** - Assist business teams by building business cases for identifying new potential streams of revenue as well as expansion of current ones. - Prepare yearly budget keeping in mind organisational targets of spends and revenue. Ideation of annual operating plans. - Monitor and track spend vs budget - Build monthly forecast for performance tracking - Partnering with business to evaluate vendors and negotiate commercials. Also assist in agreement framing and execution. - Ensure cash flow / liquidity for operations. - Reviewing payouts of all vendors as per due dates post relevant approvals as per control framework. - **Ensuring Control over Operations****:** Design and implement system-based controls to ensure swift and governance friendly decision making - Ensuring compliance with DOA for all spends and legal agreements. - Ensuring Vendor spends as per approved budgets and executed agreements - Explore avenues for cost savings in consultation with business to keep spends lower than estimated. - Liaise with IT / technology team and HR to monitor man hours spent of app development and maintenance **Digitization and Automation:** - Launch of Invoicing automation (Accounting automation in liaison with FSS and IT team)Exploring Digitization in the areas of procurement / collections. Key Accountabilities (2/6) **Business Partnering – Emerging Channels** **Business partnering:** - Assist in preparation of annual budget / target and monthly forecasting. - Liaise with credit control team to ensure smooth sales achievement of targets - Monthly reporting of sales mix, business hygiene, inventory and secondary sales parameters for business to take necessary actions - Partnering with business to evaluate Channel partners for setting up of annual contract (inclusive of sales target as well as Turnover Discounts payout) - Negotiate with vendors for fixation of commercials as well as marketing initiatives. - Ideation of Annual Operating plans and monthly track of spends vs budget. Forecast monthly performance and partner with business heads for cost savings. **Business Controlling:** - Monthly tracking and reporting of business hygiene related parameters (Expiry, inventory, secondary sales) to provide management highlighting improvements, exceptions etc. - Review / ensure all agreement executions with regards TOD and marketing initiatives and also verify timely and accurate payout. - Ensuring controls over marketing expenses to ensure its adherence with Purchase Order/Agreements and within budget. - Ensuring compliance with DOA across function - Appropriate provisioning of all expenses and Gross-to-Net items. - Liaising with various cross-functional stake holders to ensure business growth and sustainability. - Review Distribution channel as well as direct billings for emerging channels Key Accountabilities (3/6) **IB Rx Controlling** **Related Party Transactions**: - Responsible for all India RPT approvals for Cipla and Non Wholly owned subsidiaries. - Ensuring appropriate approvals of RPTs are in place for the Financial Year. - Tracking of the actual RPTs against existing approvals. **Ensuring cross charge** of CDHL spends for Cipla and Cipla spends for CDHL**.** **Impairment Testing:** Responsible for statutory compliance with regards Impairment Testing. Co-ordinating with Therapy finance and Business teams for conducting detailed impairment testing of all Intangibles. Review of all business cases for the same. Checking for triggers of impairment during the year to ensure appropriate impact in books. Key Accountabilities (4/6) **Team Management** - Team handling skills (Coordinating with one support resource and 1 off roll for CDHL) - **Develop/Upskill the team to improve the effectiveness & bring in more efficiencies in the