Cipla
Website:
cipla.com
Job details:
Division
Finance
Department
Commercial Finance
Sub Department
One India Business Generics
Job Purpose
Financial Operations & Control is responsible for overseeing end-to-end financial operations, ensuring strong internal controls, compliance with regulatory requirements, and driving process efficiency. The role supports strategic decision-making through accurate financial reporting, risk management, and performance monitoring.
Key Accountabilities (1/4)
- Business Control and Financial review
Accounts closing: Monthly Accounts closing by ensuring all the sales and expenses provision accounting and variance analysis.
Control Framework & Audit - Stock audit on quarterly basis from audit firm and review and recovery of losses for shortages and for insurances for damages.
- Regular review and monitoring the control framework for CPLS.
- Manage and coordinate for timely completion of IB audit observations and ensuring no repeat audit points.
- Time to time review of IFC controls and ensuring proper check on the same.
Key Accountabilities (2/4)
- Control and Compliances
- Ensuring controls and compliances from tax and other statutory areas.
- Ensuring timely preparation and review of business hygiene parameters, to provide management detailed view by highlighting improvements, exceptions etc.
- Time to time review and addressing exceptions if any.
- Indirect Tax
- Partnering with GST team to ensure GST compliances in place.
- Reviewing tax ledgers and workings.
- Review Input Tax credit and ensure 100% compliance.
- Coordination with various stakeholders for settlement of various claims.
- Partner with Corporate for filings and any other statutory requirements
Key Accountabilities (3/4)
- Direct Tax
- Preparation of tax movements, tax provisions, advance tax workings, true-up / true-down based on ITRs
- Providing data and supporting to tax audits
- Partner with Corporate for filings and any other statutory requirements
- Inventory
- Reconcile the stocks movement and inventory position at C&As.
- Approval for Stock adjustment for shortages and excess and recoveries of insurances claim.
- Partner with costing and distribution team to ensure accuracy and completeness.
Key Accountabilities (4/4)
- Partner to Win
- Validation of Rates.
- CRM/ Market visits / Depot visit: Market /depot visit to understand the market practices / operations at depot.
- Simplification and Automation: Automate processes for better compliance management.
- Audit Partner
SPOC For All IFC, Internal And External Audits For CPLS. Ensuring Close Coordination And Provision Of All Details On a Timely Basis. Control Framework & Audit
- Manage and coordinate for timely completion of IB audit observations and ensuring no repeat audit points.
- Time to time review of IFC controls and ensuring proper check on the same.
Major Challenges
- Managing dependency on multiple IT systems. Overcome by: Support IT team in integrating all stand-alone systems and ensuring simplified process.
- Managing statutory compliances and controls. Overcome by: Coordination among multiple stakeholders to ensure business operations in compliant way.
Key Interactions (1/2)
INTERNAL
- Corporate team and FSS team (Monthly) to the day today operation.
- Business Teams (Finance and Marketing): To understand the schemes lunched in the market.
- Audit team: Co-ordinating with early completion of audit.
- IT team (SD and FI) - For project basis IT support.
- Tax team: As and when required for various queries.
Key Interactions (2/2)
EXTERNAL
- Customer / Agent’s staff or team and Marketing team.
- Internal Audit: for audit related requirements.
- External Auditors: for finalisation of statutory audit observations.
- External Vendors for IT projects like DSAS revamp, Customer connect.
Dimensions
- Stock movement reconciliation – inventory of ~ 600cr
- Ensuring Bookkeeping and Financial closures as per corporate timelines
- Handling Stock audit, Internal audit, IFC audit Statutory audits as per timelines
- Interacting with Depots, Stockists, Business teams, accounts team on regular basis.
- Interacting with Support functions (IT, FSS, Corporate accounts)
Dimensions
- Revenue Contribution - Rs 2000 cr
- Cost Spend Pools – Rs 1500 Cr
- Management contribution – Rs 700 cr
- EBITDA – Rs 500 cr
- No of SKUS. - 600+
- Clusters – 1
- Inventory – Rs 700 crs
- Stockists – 6500
- Geography – All India – Sales Team:800
- Cross Function Interactions – Corporate accounts team, FSS team, IT team, Tax team, Distribution team, Business (Marketing and finance) teams etc.
Key Decisions (1/2)
INTERNAL
- Corporate team and FSS team (Monthly) – for book closure activities.
- Internal Audit team: Audit closures, compliances.
- Tax team: As and when required for various queries
- IT team (SD and FI)- For project basis IT support.
- Business Teams (Finance and Marketing): For provisions finalisation, compliance related matters, inventory hygiene etc.
- Distribution team, Depot teams (Daily basis) – For depot related activities and queries if any.
Key Decisions (2/2)
EXTERNAL
- CFAs / Stockists / Chemists: to gain business insights and to know market practices and ensuring compliances.
- Internal Audit team: for finalisation of audit observations and discussion of action points.
- External Auditors: for finalisation of statutory audit observations.
Education Qualification
Qualified Chartered Accountant
Relevant Work Experience
Required 3-5 years of work experience.
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