Position Overview:
The Chief Financial Officer (CFO) is responsible for overseeing the financial operations of a Vidya Wires Limited. This role involves providing strategic direction to the company's financial management, ensuring robust financial planning and analysis, optimizing the use of financial resources, and ensuring regulatory compliance. The CFO will work closely with the CMD / MD and senior leadership team to drive the company's financial growth and long-term strategy, particularly in a highly competitive manufacturing environment.
Responsibilities:
2. Financial Strategy and Leadership:
- Develop and implement the company's financial strategy, ensuring alignment with overall business goals.
- Oversee the complete accounting tasks in day to day operations and ensure smooth functioning of it.
- Provide strategic financial guidance to the executive team to achieve growth targets, improve profitability, and enhance shareholder value.
- Lead the development of financial models, budgets, forecasts, and long-term financial plans.
- Oversee the company's capital structure and funding strategy to support growth, including equity, debt, and operational financing.
- Conduct thorough feasibility studies to evaluate the economic viability of the Greenfield project or new office setup.
- Analyse Assess the impact of the new office or project on overall corporate profitability and cash flow, particularly in the first few years.
- Return on Investment (ROI), break-even analysis, and payback period, helping determine whether the venture is financially sustainable.
- Cost Benefit Analysis.
2. Financial Reporting and Analysis:
- Prepare and present monthly, quarterly, and annual financial reports to the Management, Board of Directors, and other stakeholders.
- Analyse and interpret financial data, offering insights on trends, performance, and financial position to guide business decisions.
- Monitor key performance indicators (KPIs) specific to product manufacturing, such as production costs, operational efficiency, and inventory management.
- Ensure timely, accurate, and transparent financial reporting in compliance with accounting standards and regulations.
3. Cash Flow and Working Capital Management:
- Oversee cash flow management, ensuring the business has sufficient liquidity to meet operational and strategic needs.
- Manage working capital, optimize inventory turnover, and implement effective credit and collection strategies to support the company's cash flow needs.
- Develop strategies to reduce costs and improve profitability, particularly in the areas of procurement, production, and distribution.
4. Risk Management and Compliance:
- Identify, assess, and manage financial risks (e.g., market fluctuations in copper prices, supply chain risks) and ensure the company has appropriate risk mitigation strategies.
- Identify, evaluate, and manage financial risks related to import/export activities, including currency exchange risk, political instability, and commodity price volatility.
- Ensure compliance with all relevant national and international financial regulations, tax laws, accounting standards and import/export documentation standards.
- Manage the company's relationship with external auditors, tax authorities, and other financial stakeholders.
- Manage the company's insurance portfolio to protect against risks inherent in international shipping, such as cargo loss, damage, or delays.
- Liaise with legal and regulatory bodies to ensure adherence to all relevant local, national, and international trade laws.
5. Internal Controls and Financial Systems:
- Implement and maintain effective internal controls to safeguard the company's assets and ensure the integrity of financial reporting.
- Oversee the company's financial systems and processes, ensuring they are scalable, efficient, and secure.
- Streamline financial operations through process improvements and automation to reduce manual work and increase efficiency.
6. Tax Strategy and Structuring:
oDevelop tax strategies and ensure compliance with international tax laws, including customs duties, VAT / GST, Import / Export duties, and other cross-border taxation issues.
oOversee the management of transfer pricing, international tax planning, and structuring of entities in various countries to minimize tax liabilities.
oWork with tax advisors and legal teams to ensure the company's international operations are optimally structured to comply with tax laws and regulations.
7. Global Financial Systems and Processes:
oOversee the financial systems and processes related to international operations, including ERP systems, invoicing, reporting, and payment processes.
oEnsure the systems support multiple currencies, taxation rules, and the specific requirements of global trade, such as Letters of Credit and trade finance.
oEnsure that financial operations align with the complexities of customs procedures, international payment terms (such as FOB, CIF), and international shipping logistics.
8. Leadership and Team Development:
- Lead, mentor, and develop the finance and accounting team, fostering a collaborative and high-performance culture.
- Provide training and support to staff on financial matters and encourage professional development within the department.
- Manage recruitment, development, and retention of financial personnel to ensure alignment with the company's growth objectives.
9. Business Partnerships and Stakeholder Engagement:
- Act as a business partner to the senior management team in decision-making and operational efficiency.
- Cultivate relationships with banks, investors, and other financial institutions, as well as key suppliers and customers.
- Advise on business development opportunities, acquisitions, and capital investments to enhance company growth.
10. Sustainability and Environmental Considerations:
- Collaborate with operations to understand and manage the financial implications of sustainability initiatives, such as energy consumption, waste management, and regulatory compliance specific to the copper industry.
Qualifications:
- Education:
- Chartered Accountant (CA)
- Bachelor's degree in Finance, Accounting, Economics, or a related field (required)
- MBA, CPA, or other advanced certifications (preferred).
2. Experience:
- Minimum of 15-20 years of experience in finance and accounting roles, with at least 5 years as CFO or senior leadership position.
- Experience in manufacturing or industrial sectors, is highly desirable.
- Proven track record in managing financial operations in a complex, high-volume environment.
- Experience in financial forecasting, budgeting, and strategic financial planning.
3. Skills:
- Strong understanding of financial principles, accounting standards, and regulatory compliance.
- Advanced proficiency in financial software, ERP systems, and Microsoft Excel.
- Excellent analytical, problem-solving, and decision-making skills.
- Strong leadership and team management capabilities, with excellent communication and interpersonal skills.
- Ability to manage multiple priorities and adapt to changing business conditions in a fast-paced environment.
4. Personal Attributes:
- High ethical standards and integrity.
- Detail-oriented, with a strong focus on accuracy and financial control.
- Ability to think strategically while remaining hands-on in day-to-day financial operations.
- A collaborative mindset with the ability to work cross-functionally within the company.
Physical Requirements:
- The role is primarily office-based but may require occasional visits to manufacturing sites.
- Ability to work long hours, especially during critical reporting periods.
Joining Requirements:
- This position is required on urgent basis. So, the interested candidates those who are willing to join immediately shall be preferred.
Compensation:
Competitive salary and benefits package, including bonus, retirement plans, health insurance, and other perks as applicable.
