Regional Financial Controller at McCain Foods

Primary Purpose of Role:

• This position will be based in South Africa and reports to Director - Financial Control APACSA. This Person would be responsible for South Africa’s financial control with regards to General Ledger Accounting, Treasury, Direct Tax, International Taxation (Transfer Pricing), Risk Management (Internal Audit & Insurance), Audit Co-Ordination, Payroll, HR partnering, Super User Network management as Super User Lead, IFC and Accounts Payable of the company. There would be people reporting to this position.

Roles and Responsibilities & Key Deliverables:

General Accounting:

• Responsible for Month End, Quarter End & Year End Closing of Books of Accounts in SAP & One Stream.
• Responsible for publishing the monthly Flash Results & Control Management Reports.
• Responsible for Trial Balance, General Ledger Scrutiny & B/S Accounts Reconciliation.
• Responsible for preparation of Financial Statement as per IGAAP & IFRS (for consolidation purpose) and to get the financials audited.

Treasury: 

• Forecast cash flow positions, borrowing needs, and available funds for investments.
• Ensure sufficient funds are available to meet operational & capital investments.
• Investment of surplus fund in efficient way to earn higher returns on the same.
• Use hedging to mitigate financial risks related to the foreign exchange positions.
• Maintain banking relationships
• Ensure smooth flow of banking transactions & automation/improvement in the process.
• Fund management for better cash utilization.
• Ensure Working Capital % to Net Sales within the target.
• Exploring & implementing new banking products beneficial to the company
• MEIS license management & trading of un-utilized licenses.

Direct Taxation:

• Responsible for filing of Income Tax & MAT Returns, TDS Returns & other statutory filings.
• Reviewing the Tax Returns & other statutory returns prepared by consultants and aligning the same from Global Tax Team for their clearance.
• Responsible for computation & payment of Advance Tax within due date.
• Responsible for computation of Deferred Tax Asset/Liability as per both IGAAP & IFRS & aligning the same with Global Tax Team.
• Responsible for Income Tax assessment along with Consultants & Global Tax Team.
• Responsible for managing Income Tax Litigation tracker & contingent liability.
• Responsible for implementation & compliance of ICDS.
• Responsible for providing necessary support and assistance to our external partners for closing TDS related matters.

International Taxation (Transfer Pricing):

• Responsible for filing Transfer Pricing Returns.
• Responsible for providing necessary support & information to our partners for TP Study.
• Responsible for driving an Advance Pricing Agreement with Consultants & Global TP Team.
• Responsible for reviewing transactions with related party for TP implications.
• Responsible for preparing Segmental P/L for TP Study.
• Responsible for getting the TP assessment done along with Consultants & Global TP Team.
• Responsible for complying with all TP related requirement of Global TP Team
• Risk Management (Internal Audit & Insurance)
• Monitor the insurance policies & interact with the Global risk management team to ensure sufficient coverage of risks.
• Reviewing Insurance proposals of various Insurers to identify the one beneficial to the Company & finalizing the same for local policies.
• Providing necessary inputs to Global Risk Management team to enable them to negotiate with Insurers for Global Policies.
• Maintaining an Insurance Tracker for timely renewal & charging off to P/L.
• Responsible for getting the claim processed by Insurers with inputs from respective functions, in case of any mishap.
• Act as Internal Audit Coordinator & liaison with Internal Audit Team
• Co-Ordinate & Review the Internal Audit Observations & replies to Internal Auditors.
• Submitting quarterly status report on Internal Audit Observations.
• Implementation of IFC & its regular testing for controls & statutory audit.

Audit Co-Ordination: 

• Liaison with Statutory Auditors & Tax Auditors for timely completion of Audit.
• Responsible for providing information required by Auditors.
• Responsible for complying with Accounting Standards, Companies Act & other statutory regulation in relation to Statutory & Tax Audit.
• Review of Form 3CD, Financial Statements including disclosures before adoption by Board & filing of the same with statutory authorities.
• Review of Management Representation Letters & Engagement Letters with the Auditors.
• Implementation of INDAS or any other change impacting Audit.

Accounts Payable: 

• Responsible for smooth functioning of Accounts Payable process for both Vendors & Employees including T&E
• Responsible for all statutory requirements with regard to foreign payment like arranging Form 15CA/CB, 195 Order etc.
• Responsible for resolving Invoice discrepancies and vendor related issues
• Monthly Review & Monitoring of AP Open Item Reports
• Drive process initiatives for Accounts Payable to achieve effective W/C
• Reviewing & improving AP process to bring in efficiency.
• Reviewing & managing Vendor creation/updation/modification/extension in SAP.

Super User Network Management: 

• Act as Super User Lead & manage the team of Super Users
• Facilitate regional meeting with Super Users
• Promote SU engagement using collaboration tools
• Regular interaction with Super Users to identify their training needs & arranging the same.
• Collaborate with Business Analyst on any system changes or development
• Development of Super User Network with induction of new super user, replacement of exiting super user etc.
• Cascade important information to all Super Users

Payroll: 

• Responsible for timely & accurate processing of Payroll to all full time employees.
• Responsible for timely & accurate processing of F&F to all exited employees.
• Ensuring adherence to compliance to PF, TDS, NPS, LWF, P.Tax.
• Budgeting/Forecasting of People Cost during AOC & Estimates & is variance analysis.
• Responsible for audits related to payroll like Global HR Audit, Stat Audit & Internal Audit.
• Co-ordination with Payroll Vendor.

Other Responsibilities & Reporting: 

• Filing of Annual Returns with RBI complying with the FEMA Regulations.
• Responsible for providing monthly visibility of Budget Vs Actual Spends to HR & Admin.
• Annual budget & rolling estimates for G&A cost and its analysis.
• Submission of Monthly Reports as required by Management

Educational Qualifications 

• CA with 7-12 yrs of experience
• Knowledge of SAP-FICO/ MS Excel / MS Word / Power-Point
• Understanding of Direct & Indirect Taxes i.e. Income Tax/TDS / GST
• Knowledge of INDAS & IFRS

Competencies: 

• Strong technical skills
• Strong written and verbal communication skills, complemented by excellent attention to details, follow-up and organizational skills
• Ability to work under pressure, meet deadlines and drive projects to completion
• Able to build trust and sustainable interpersonal relationships with multiple stakeholders
• Self-Motivated, Action Oriented, Planning and Organizing and Stake Holder Management
• Work as a member of a team with minimal supervision
• Able to build and maintain lasting relationships with other departments, key business partners, and government agencies