Financial Controller

Position: Financial Controller

Job Description:

As a Financial Controller, the candidate will play a vital role in ensuring smooth financial operations and effective co-ordination with various stakeholders, including bankers, vendors, and internal teams. The candidate will be responsible for book-keeping, accounting, managing payment processing, account reconciliations, vendor management, record keeping and supporting the overall finance and operations functions.

The following list of key accountabilities provides an indication of the responsibilities that the candidate will be expected to own and successfully deliver:

I. Bookkeeping and Accounting

Accounts Payable and Vendor Management

• Process accounts payable transactions, ensuring accurate and timely payments.
• Maintain an up-to-date billing system, reflecting all current transactions.
• Post vendor payments with details of payment modes (cash, cheque, etc.).
• Reconcile accounts with creditors and promptly resolve any discrepancies.

Revenue Invoicing

• Generate accurate and timely revenue invoices based on agreements and deliverables.
• Ensure proper recording of revenue in the accounting system.
• Monitor outstanding receivables and follow up for timely collections.

Banking and Payment Processing

• Reconcile company bank statements with internal financial records to identify and address discrepancies.
• Interact with banks for operational tasks, such as fund transfers, loan-related activities, and account queries.

Month-End and Quarter-End Closing Activities

• Record provision entries, closing entries and reconcile ledgers.

II. Compliance and Taxation

Tax Compliance

• Calculate and file GST returns accurately and timely.
• Handle TDS calculations and filings as per regulatory requirements.
• Ensure compliance with and timely payment of PT, ESI, PF, TDS, and GSTR3B as per challans.

Audit Support and Closure

• Facilitate internal and external audit processes by coordinating with auditors and providing necessary documentation.
• Implement audit recommendations to enhance financial controls and operational efficiency.
• Ensure timely and efficient audit closure, maintaining clear communication with all stakeholders.

III. Document Retention, Archiving, and Retrieval

• Maintain organized records of documents, contracts, agreements, ensuring compliance with regulatory requirements.
• Implement a structured document archiving system for easy storage and retrieval.
• Facilitate timely access to financial records for audits, management reviews, and other requirements.

IV. Financial Management and Reporting

Cash Flow Management

• Prepare and maintain a detailed monthly Cash Flow Statement.
• Monitor cash inflows and outflows to maintain adequate liquidity.

Budget Monitoring and Variance Analysis

• Develop Budget vs. Actuals statements for review by senior management.
• Regularly track budgetary allocations and expenditures, analyzing variances between budgeted and actual figures.
• Investigate significant discrepancies and provide actionable insights.

Forecasting and Performance Insights

• Use historical data and trends to forecast future budget performance.
• Assist in preparing revised financial forecasts based on evolving organizational needs.

Profit and Loss Statement Preparation

• Compile and analyze financial data to prepare Profit and Loss (P&L) statements for management review.

V. Interaction with Stakeholders

Bank Interactions

• Coordinate with banks for cash flow management, loan processing, and other financial operations.
• Address banking queries and ensure seamless communication for operational needs.

Vendor and Third-Party Coordination

• Liaise with vendors for payment reconciliation and invoice clarifications.
• Maintain strong relationships to ensure smooth financial operations.

Auditor Coordination

• Act as the primary point of contact for internal and external auditors.
• Provide accurate and timely data, ensuring smooth audit processes.
• Collaboration with other teams
• Work closely with internal departments to align financial processes and reporting with organizational goals.

Ideal Candidate:

Qualifications

• Graduate in Commerce; and
• CA qualified

Experience

• 4-7 years of relevant overall experience in a similar role
• At least 2 years experience in Hospitality Industry (Hotels, Resorts etc)

Key attributes / skill requirement

• Strong technical skills;
• Strong Microsoft excel skills;
• Ability and willingness to take ownership of tasks assigned;
• Strong business acumen, flair for finance and critical thinking ability;
• Excellent verbal and written communication abilities;
• Ability to work with data and gather information from various stakeholders;
• Ability to take ownership of the tasks assigned;
• Strong organizational and time management skills and the ability to successfully manage priorities with excellent attention to detail; and
• Problem solving mindset and solution oriented.

Other information:

• The position is based out of Bangalore, Karnataka and is onsite.