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Job Description Job Role: Team Lead Money, Materials & Compliances Job Role ID: - SECTION I: BASIC INFORMATION ABOUT THE JOB ROLE Job Role Variant: Sr. Team Lead Money, Materials & Compliances Manager Job Position: Head - Money, Materials & Compliances Job Position ID: - Value Stream: MM&C Job Family: MM&C Sub-Job Family: MMC - Business Partnership Grade/Level: - Location: - SECTION II: PURPOSE OF THE ROLE To implement the strategy of Money Materials & Compliances in order to align objectives, manage business finance, control costs, prevent asset or financial loss, mitigate risks, drive & monitor internal & external compliances to the policies, systems & processes across the respective businesses thus facilitating business continuity towards the fulfilment of Annual Operating Plan (AOP) within the limits of RIL's processes, policies & budgets SECTION III: KEY RESPONSIBILITIES AND ACCOUNTABILITIES OF THE ROLE Responsibilities Policies, Processes & Procedures Collaborate with MMC P&L leader to develop and implement financial business plans for the P&L, considering financial objectives, growth strategies, and market dynamics Identify potential financial and material challenges and opportunities to be addressed in the business plan. Provide inputs for improvements in business processes, specifications and best practices Implement cost control measures to optimize spending, minimize wastage, and improve overall financial efficiency within the team and across projects Pricing Policies & Procedures Review and validate pricing proposals to ensure they align with the organization's pricing strategy, cost structure, and profitability targets Approve pricing changes and discounts in the organization's system, maintain accurate and up-to-date pricing information Ensure that pricing decisions adhere to the organization's pricing policies, pricing guidelines, and discount approval processes Oversee export pricing and licensing considerations to avoid any violations Accounting & Systems Management Maintain financial records (end-to-end accounting), including journal entries, general ledger, accounts payable, accounts receivable, and other accounting transactions for the respective businesses Oversee the month-end and year-end closing processes to ensure that financial transactions are recorded accurately and in a timely manner Conduct budget-to-actual analysis, comparing budgeted figures with actual results, and explain significant variances in the MIS reports Audit & Compliance Ensure adherence to financial regulations, company policies, and industry standards. Coordinate with legal and compliance teams to mitigate financial risks Prepare for external audits by coordinating with auditors, ensuring all necessary documentation and financial records are organized and accessible Submit cost audit reports and other statutory requirements as per time line Ensure compliance with tax laws and regulations, including timely filing of tax returns and adherence to tax accounting principles Coordinate with tax advisors and legal experts to comply with direct tax laws and regulations Manage compliance with indirect taxes such as VAT, GST, and other applicable taxes Oversee contract administration and ensure that agreements with vendors and suppliers are favourable, compliant, and aligned with organizational objectives Data Analysis & Reporting Conduct financial analysis and interpret financial data to provide insights to management for informed decision-making and strategic planning Monitor the working capital for the respective businesses and prepare relevant reports for the same; also prepare regular financial reports and presentations for management, highlighting key performance indicators, budget variance analysis, and financial performance against targets Provide inputs on the process of financial forecasting and market trends to project future financial performance and identify potential risks and opportunities Prepare periodic MIS and transfer pricing reports, such as daily, weekly, monthly, and quarterly reports, presenting key financial and operational metrics; Continuously review and enhance MIS reporting processes to streamline data collection, analysis, and report generation Prepare and submit the data/information requirements of Anti-dumping cases and handling the investigation process People Management Instil a culture of continuous development and high performance within own team Participate in recruitment activities & ensure retention / engagement of own team Set performance objectives of own team, evaluate / appraise team members and provide regular feedback & guidance Guide, mentor and develop own team to take larger and complex responsibilities Evaluate training and development requirements for own team and make recommendations for learning interventions SECTION IV: SUCCESS METRICS (TOP 3-5 KPI's) % Financial Accuracy % Compliance to the Budget Quality of Reports generated Zero Penalties Timely Financial Reporting Reduced Opex Costs GST Compliance Zero asset loss / revenue loss SECTION V: OPERATING NETWORK Internal: Business team, Insurance Team, Treasury team, Direct Taxation team, Indirect Taxation team External: External consultants, Tax authorities, Government Authorities SECTION VI: KNOWLEDGE AND COMPETENCIES Education Qualifications: Graduate in any discipline (Finance preferred) with Management Degree (Preferred) Experience (Must Have & Good to Have): 10+ years of relevant experience Functional / Behavioral competencies required to execute the role: FUNCTIONAL COMPETENCIES SECTION VII: CAREER MOVEMENTS Feeder Roles: Team Lead MMC Possible Next Role Movement: Head - Money, Materials & Control - Site/ P&L/ Value stream Show more Show less
