Aditya Birla Fashion and Retail Ltd. Looking For Assistant Manager- F&C (Galeries Lafayette) at Mumbai, Maharashtra, Full Time

Job Purpose:

Seeking an experienced and detail-oriented person to oversee and mange the performance of Finance shared service partner, ensuring seamless execution of accounting processes and compliance with statutory requirements. The role involves driving the month-end book closures, manging the Procure-to-Pay (P2P) and Order-to-Cash (O2C) cycle, and ensuring effective governance over customer and vendor accounts/masters. This position is critical for maintaining accuracy, compliance, and efficiency in financial operations within the dynamic fashion retail environment.

Job Context & Major Challenges:

The market size of the apparel retail industry is currently estimated to be at 1.9 Lac Crore Rupees per annum and is estimated to grow at a CAGR of 10% per annum. The depth and width of the business can be estimated by the share of the urban ready to wear market which is a meagre 28%. The industry is witnessing heightened levels of activity with existing players consolidating themselves through partnerships, inorganic growth and new foreign players entering the Indian market, thanks to the traction being witnessed on the much-awaited FDI policy of the government. In International Brands, with 40+ existing TCMB stores and Galaries Lafayette expansion plans, scaling up operations requires a tremendous amount of planning, execution excellence, and inter functional coordination. Partnering with newer brands built on a fine balance between product quality and price, effective operations management, concept to consumer translation for creative functions, strategically sound planning, merchandizing and pricing, effective human resource management, and commercial acumen will be critical factors towards the success of the organization.

Key Result Areas:

Monitoring the performance of Finance shared service partner-

• Oversee the finance shared service partner responsible for managing end-to-end accounting processes, including AR, AP, GL and reconciliations. Ensuring adherence to defined SLA, KPI & Internal controls.
• Serve as the key liaison between the finance shared service partner, and internal business teams to resolve escalations and ensure alignment on financial processes.
• Monitor, review and provide regular feedbacks in the performances of Finance shared service partner by way of daily/weekly review, ensuring transaction accuracy, timeliness and compliances.
• Ensure accurate reporting of receivables and payable balances, timely accounting of collections and payments, and adherence to best industry practices, enabling seamless financial operations.

Month End Books Closure-

• Lead the month-end / year-end books closure processes in collaboration with Finance shared service partner and relevant business teams.
• Ensuring accurate accounting of all provisions, JVs, reclass entries and other related areas crucial for month closure.

Review and maintenance of Vendor/Customer master and their balances-

• Oversee and control the creation and maintenance of customer/vendor masters, ensuring accuracy and completeness.
• Periodic review of aged receivables and payables, driving the reconciliations and resolution of overdue balances with respective stakeholders.

P2P & O2C cycle management-

• Manage the end-to-end P2P & O2C cycle from finance perspective, ensuring alignment with operational processes.
• Ensuring timely and accurate processing of purchase orders, invoices, payments and collections.
• Monitory credit terms, payment schedules, cash flow impact etc. and drive the resolution for any disputes.

Review exceptional reports and ensuring compliance with GST and TDS related laws-

• Reviewing various exceptional reports such as Open PO, pending GRIR balances, BRS, Provisions with ageing etc.
• Ensuring compliance with GST/TDS in day to day operations, invoice booking, processing of payments, assisting tax teams filing of GST returns, TDS returns etc. on monthly basis