Specific Attributes

Designation : Chief Finance Officer
Direct Reporting : Business Head
Department : Finance & Accounts
Division : Heavy Machinery (Heavy Equipment)

Responsibilities

1. Achieve Profitability

• Following the proper process & involving the departmental heads budget needs to be prepared.
• To prepare a CAPEX budget on the basis of development during the years & to spend as per the fixed assets SOP of the company.
• To assure realization from the machines & the spares parts.
• To suggest & implement appropriate policies & norms to control the expenses/overheads.
• To review all the vendors related with direct/indirect expenses & services to assure best negotiable prices.
• To scrutinize the bills.
• To avoid leakages and financial discipline line.
• To optimize the stock to minimize the interest costs.
• To bring to the attention of management major deviation and variations on discussion line. Similarly to look at the opportunities for the increase revenue, public realizations.

2. Optimize the funds & reduce the interest costs

• Ensure timely collection of the deals
• Ensure that SOP is properly followed in the case of deliveries.
• To provide fund projection before 3rd of next Nepalese month.
• To review the fund projection with actual and take corrective actions whenever required.
• To review the ageing of machines & take initiatives with sales department and business head for early disposal.
• To ensure that unnecessary idle money is not held in current account.
• To prepare & maintain a register of payment to vendors for better image of company & better relation.

3. MIS preparation, discussion & its analysis

• MIS to be prepared with all reconciliations, provisions & all mathematical accuracy before 15th .
• To analyze it & have a discussion on it with corporate & business head.
• In case of deviation / opportunities to take actions.

4. Compliance to statutory requirements, Accounting principles & company SOP

• Effective implementation of SOPs/Policies.
• Ensure compliance of applicable Taxes/Laws/Accounting Standards/Policies.
• Facilitate & ensure timely completion of Internal Audit/Statutory Audit/Physical Verification.
• To prepare balance sheet & books of accounts with details twice in a year (Half yearly) as per statutory norms .
• To assure that all the accounting principles & standards are being observed at branches

5. To ensure timely maintenance of proper books of accounts, regular reconciliations & ledger scrutiny.

• To ensure maintenance of proper Books of Accounts as required by Accounting Principles/Accounting Standards.
• To ensure that entries are done on daily basis & cash is closed & reconciled in the evening before leaving the office.
• To ensure timely submission of half yearly Books of Accounts Finalization.
• To ensure timely TDS/VAT reconciliation & filing returns thereof.
• To ensure ledger scrutiny to be undertaken on a monthly basis.
• To ensure all the provisions & reconciliations being completed before extraction of final trial balance for MIS preparation.
• To ensure periodic reconciliation of principal & vendors accounts.

6. Insurance of stocks/Assets & in transit stocks

• Tie up with insurance companies & take approval for appropriate insurance.
• To assure insurance of all the mentioned assets/stocks & its timely renewal.

7. To ensure timely order of products & smooth/cost effective delivery to the customer.

• To optimize the stock & assure timely delivery to the customers. To place the order of the machines to the company before 20th of English month.
• To sync LC opening appropriately with Expected Machine Delivery (to ensure while booking machine).
• To ensure Insurance & Custom Clearance being done in time so as to avoid delay in machine delivery to customers.
• To ensure machine delivery to customers place with the supplier company in India assigned transporters so that no extra transportation cost being incurred by the company.
• Ensure minimum stock level to be maintained in Branches and same to be considered while opening LC.

8. Collection

• For all the PDCs received, prepare a register & present it with Bank on the date of cheque & assure that it is realized before expiry.
• To keep the custody of all the bank guarantees & maintain the register with its expiry date.
• To assure that the claim letter sent to the customer one month prior to the expiry date.
• To ensure the black listing process executed if PDC check is not realized.
• To ensure bid security & performance bond is prepared on time & provided to the sales team.
• To ensure bid security & performance bond is released on time.
• To ensure the TDS certificate is collected on time.

9. PR building with BFIs

• Make the list of all the payment to the BFIs & assure its timely payment.
• To develop relationship with BFIs for better cost of funds.
•  Look at the opportunities for customer financing.

Experience

Minimum 8 - 9 years in similar field

Education

Masters in Finance / Chartered Accountant or similar