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Commercial Finance Role in Retail Sector

10.00 to 18.00 Years   Mumbai City   29 Sep, 2023
Waytogo Consultants Pvt Ltd
Job LocationMumbai City
EducationNot Mentioned
SalaryRs 9 - 14 Lakh/Yr
IndustryRetail
Functional AreaFinance / Accounts / Tax
EmploymentTypeFull-time

Job Description

    Commercial: Business Planning: Overheads Budgeting 1. Discuss Annual Operating Plan with Sales / Retail Team 2. Create store and regional expenditure projection based on inputs from HR / Admin Team and Sales / Retail Team 3. Submit projections to Divisional Commercial within agreed timelines. Commercial: Business Plan Review: Variance Analysis 1. Analyze cost variance on monthly basis 2. Do RC analysis for major variances and influence stakeholders to take corrective steps 3. Prepare and publish monthly Store Profitability Report in coordination with Retail / Sales Team. Commercial: Payables / Receivables: Franchisee Payable Management 1. Ensure all Franchisee Claims are settled as per time lines 2. Ensure Quarterly sign off with franchisee and share reconciliations with stakeholders 3. Co-ordinate with Business Team for Store opening / Closing / Conversion and ensure adherence to various related processes. Commercial: Working Capital Management: Regional fund management (inclusive of revenue reconciliation) 1. Reconcile FIT with treasury team on a monthly basis 2. Coordinate with store and corporate treasury for reviewing and clearance of open line items 3. Provide daily fund requirement to treasury team. Commercial: Business Support: Compliance 4. Ensure all SOPs and laid down policies are followed by team 5. Take proper approvals as per Schedule of authority (SOA) in case of exceptions 6. Liaison with various departments (external and internal) to obtain required permissions for store operations and regional offices 7. Ensure compliance with various statutory laws and regulations. Commercial: Business Support: Tax Assessment 1. Provide Monthly Reports to Indirect Team 2. Do periodic review of GST Input Tax Credit availed by the Region and ensure there are no defaults / loss to Company due to non- compliance by Vendor 3. Periodic Review of TDS and to ensure that Credits are reflecting in 26AS for all taxes deducted by Customer. Commercial: Business Support: GL Review 1. Initiate monthly review of region related General Ledgers 2. Monitor and resolve long pending items/issues highlighted after GL review and ensure there are no carry forwards of previous period. Commercial: Business Support: Training and Development 1. Supervise and execute quarterly refreshment trainings to Sales / Retail Team related to current SOPs and latest policies 2. Supervise and execute statutory and commercial training to store staff, Associates and Vendors. Commercial: Business Support: Business Associate and Store engagement 1. Work with Retail / Sales Team to improve SLA on claim processing 2. Meet business associates on a periodic basis to understand their grievances if any and influence stakeholders to resolve. Commercial: Business Support: Policy Creation and Process Improvement 3. Configure channel wise and customer wise Terms of Trade (ToT) for business associates by coordinating with Divisional Commercial Team 4. Crosscheck if initial billing is as per configured Terms of Trade (ToT). Commercial: Business Support: Month End Book Closing and MIS Management 1. Ensure preparation of month end provisions including submission of various MIS to Regional Commercial Head 2. Ensure reversal of undelivered goods and accounting of all the credits 3. Ensure reversal of earlier provisions and fresh provisions for all pay- outs and overheads.

Keyskills :
retail operationsaccounts payablecommercial financegstcost

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