Team Member - Business Partner Finance (LL)

Division

Finance

Department

Operations Finance

Sub Department 1

SCM finance

Job Purpose

This role is responsible for business partnering and ensuring controllership for the Loan Licensee (LL) area. Monitoring LL Charges, Opex spend, Yield and identifying reduction opportunities at time of Rate Contract Expiry. Ensuring appropriate internal financial controls are in place & involves active collaboration with cross functional stakeholders.

Key Accountabilities (1/4)

Budgeting, Analyzing and Approving rates for LL products/ Financial Accountability

• Partner with FPS Team in preparation and review of budgets for LL SKUs.
• Preparation & Monitoring of FPS Opex spends.
• Evaluating periodic rate increase proposals for LLs
  
  

Key Accountabilities (2/4)

Drive Controllership & Governance for FPS function

• Seek approval for destruction and disposal of inventory as per DOA approval matrix.
• Evaluate provisions for monthly book closing – inventory, LL charges, etc.
• Reviewing of Lower Yield and accordingly debiting the LL/Vendor. Ensure updating of yield in cases where yield is yet to be defined in BMR.
• Co-ordinate With relevant stakeholders to resolve issues related to payments.
• Review of Open Advances, Goods in Transit, Outstanding Debtor recovery, other recoveries from vendors, etc. to maintain book hygiene and ensure timely actions as needed.
• Reviewing all documents and financial evaluation of new vendors before onboarding them.
• Support business and finance team members for compliances to statutory and regulatory requirements.
  
  

Key Accountabilities (3/4)

Enforce DOA, Internal Financial Control (IFC) & Audit recommendation for LL procurement to achieve compliance

• Conduct Internal financial control related activities for LL function.
• Monitor & Ensure Valid Agreements in place.
• Resolve issues / queries raised in Internal and External Audits.
• Ensure annual verification of inventory and fixed assets across LL location through 3rd party auditors and ensure that all observations are closed.
  
  

Key Accountabilities (4/4)

Business Partnering & Analytics

• Review of monthly LL charges, discussing reasons for variance vs budget.
• Preparing Product Transfer proposals for in-house to LL shift or vice versa. Ensuring that all aspects including impact on product cost, idle cost and inventory is considered.
• Review and approval of Debit Note and Credit Notes.
• Exception management to ensure business continuity.
  
  

Major Challenges

Key Interactions (1/2)

Internal

• FPS Team
• Planning & Procurement Team
• Costing Team
• Plant
• BU Finance / Business
• Corporate Accounts
  
  

Key Interactions (2/2)

External

Auditor – Internal and Statutory Audit & Inventory/ Fixed Assets Audit

Dimensions

Cost: INR 200+ Crs (LL)

Vendors: 60 LL sites.

No. of SKUs: 300 for LL.

Inventory: INR 170 Crs

No. of Products for Evaluation: 100 / annum

Key Decisions (1/2)

Decisions

• Rate Revision as per Budget.
• Recovery where Lower Yield than standard.
  
  

Key Decisions (2/2)

Recommendations

• Rate Approvals / Rate increase approvals.
• Agreements signed off for LL vendors after reviewing relevant clauses.
• Inventory Destruction/Disposal approvals as per DOA.
• Improvement in processes / DOA, etc.
  
  

Education Qualification

Qualified CA/ CMA/MBA.

Relevant Work Experience

3-5 years of work experience