Head of Finance - GBS

Job Description

To ensure the planning, managing, implementation and running of all finance function activities including financial risk management, business planning, budgeting, forecasting and reporting of the financial performance of the GBS to FAB. He/she is expected to provide expertise on all finance areas ranging from accounting strategies to overall financial management of FAB GBS.KEY ACCOUNTABILITIES: Strategic Contribution

• Ensure effective cascading of the functional strategy into department business plans to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.
• Support and implement the short- and long-term finance function strategy and service delivery model including the Finance direct deliverables.
• Play a leadership role in establishing finance function objectives in alignment with the overall objectives of the enterprise.
• Work with Group Finance to ensure the financial objectives of the bank translate into the GBS financial objectives.
• Provide consultation to management on strategic finance initiatives including overall finance strategy, budgeting, taxation planning, financial reporting etc.

People Management

• Manage the effective achievement of assigned objectives through the leadership of the finance department by setting of individual objectives, managing performance, developing and motivating staff to maximize sectional performance.
• Lead the talent development initiatives for the assigned department, collaborating with technical/discipline experts and thereby ensure the availability of talent to fit business requirements.
• Act as a role model and drive adherence to organizational values and ethics by employees of the assigned department to foster a value driven culture within the bank.
• Develop and maintain a flexible and skilled resource base for provision of the service collaborating with colleagues for efficient resource management.
• Develop people and manage talent create opportunities for growth, both horizontal and vertical.
• Design goals for staff in line with objectives of the enterprise and GBS.
• Manage performance of staff and deal with poor performers.
• Use rewards and recognition to motivate staff and encourage performance.
• Improve staff engagement and manage attrition.
• Define and track KPOs for the employee engagement and conduct timely reviews.

Budgeting and Financial Planning

• Manage the preparation and recommend the department budget and monitor financial performance versus the budget while ensuring all sectional activities are conducted in line with the approved guidelines.
• Manage the centers finance function budgets, revenues and expenses.
• Plan and oversee the GBS organizations budget.
• Monitor expense budget items for the GBS employees manage cost items within budget.
• Use optimal resourcing mix to attain financial goals.

Policies, Systems, Processes and Procedures

• Manage and ensure effective implementation of finance functional policies, procedures and controls covering all areas of assigned department activity so that all relevant procedural/legislative requirements, fulfilled while delivering a quality, cost-effective service.

Continuous Improvement

• Lead the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.

ReportingEnsure that all unit reports are prepared timely and accurately and meet FAB GBS requirements, policies and quality standards.Functional and Technical Responsibilities

• Liaise with the enterprise on issues regarding implementation of finance and accounting policies and procedures.
• Effectively plan, design, develop and evaluate finance-function related initiatives that support organizational strategic goals.
• Review and drive opportunities for improvement, cost reduction, and systems enhancement.
• Oversee analysis and preparation of several financial reports including statutory fiscal reports, management accounting packs, project profitability analysis and variance reports etc. and ensure the distribution and presentation of the same at the relevant forums.
• Provide oversight on the financial accounting strategy, management accounting, financial planning and reporting of the GBS.
• Evaluate effectiveness through compiling and analyzing data and metrics to ensure enterprises strategic needs are met.
• Plan and oversee the finance department budget.
• Overall responsibility of presenting and reporting accurate and timely historical financial information for the GBS.
• Oversee the overall financial risk management of the GBS and collaborate with all other functions to agree on mitigation strategy.

Performance Management

• Manage team performance as per the budget and in line with overall group objectives.
• Establish service performance measures tied to business outcomes.
• Regularly review the adherence to KPIs and metrics defined for the finance processes.
• Review and drive improvements in policies, practices and procedures on an ongoing basis with the view to creating an environment of constant improvement.
• Evaluate impact, implement and measure improvements in standards achieved.
• Build up and maintain a sound knowledge of industry practices and procedures and examine value to the current internal environment.
• Ensure no surprises, and strong risk management.
• Create visibility of finance operations through reporting / metrics for the COO and GBS leadership.
• Undertake management of cross-departmental projects, collaborating with other groups to achieve enterprise and GBS wide objectives.
• Pursue and support strategic investments in finance systems, platforms and technology to automate manual activities.

Relationship Management

• Initiate, develop, and maintain relationships with Enterprise Managers and other stakeholders.
• Understand the business goals and priorities of the respective teams in the Enterprise and partner with them to deliver the same.
• Establish effective communication with Enterprise Managers.
• Regularly report on the financial performance of the GBS and providing accurate forecasts for the future.
• Negotiate and manage deliverables involving diagnostic of the business requirements.
• Collaborate with the GBS leadership to understand the requirements from service delivery standpoints and ensure the finance function is adept to support the GBS organization in meeting the targets.

Legal Compliance

• Ensure compliance with regard to legal and fiscal tax requirements in relation to FAB and ensure the smooth running of year end audits.
• Ensure quality control over financial transactions and financial reporting.
• Ensure effective and efficient taxation planning and reporting for the GBS.
• Oversee interactions with auditors, government authorities, legal counsels, consultants & bankers on all matters including finalization of accounts, statutory compliances, etc.
• Maintain knowledge of industry trends and new regulations and ensures compliance at the GBS.

QualificationsMinimum Qualification

• CA/CPA qualified.

Minimum Experience

• 15 years relevant experience with at least 5 years in the BPO / KPO at senior management level in the finance function.
• Ability to build and manage a Finance team across locations working for various business groups of the enterprise.
• Must have good understanding of global trends and should be adept with financial regulations and accounting requirements in India.
• Must be able to demonstrate true results in impacting business outcomes and be an innovative leader.
• Working knowledge of Accounting Standards, IFRS, Company and other relevant Laws.
• Demonstrated capabilities in attracting talent and building a strong team.
• Must have created and presented business cases to senior management, involving both Strategic and Operational initiatives.
• Should have managed the finance function of a large business unit / account independently, looking after budgets, revenues, expenses, tax, reporting etc.
• Proven record in a successful global delivery environment.
• Experienced in process improvement and quality frameworks.
• Proven record of driving innovation within teams.