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
