Assistant Manager- Finance & Commercial (Galeries Lafayette)

Job Purpose:

• Ensure accuracy and completeness of provisioning and reversals, monthly dashboards, reconciliations etc. and adherence to month end calendar.
• Ensure that CWIP and Fixed Asset are correctly accounted as per the organization policy and review CWIP and FAR on monthly basis.
• Contribute to stabilization of finance shared services. Assist in improvising and regularising of various exceptional reports received from Outsourced shared services.
• Proactive support in closure of External (Statutory/Tax), Management Audit as per the calendar by providing all necessary details and closure of open points.
• Assist in automation of various finance projects in SAP and Open Text right from initiation till UAT and implementation.

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:

• Automation project, SAP stabilization and process simplification- Contribute in UAT, implementation & stabilization of finance digitization initiatives like Open Text Work, XECM Processes etc.
• External and Internal Audits- Support in closure of External and Internal audit within stipulated timeframe and adherence to Financial & Accounting Controls and DOA
• Month End Closing- Ensure financial book closure as per monthly calendar. Review periodically all closure activities, GL balances, perform variance analysis and take corrective actions as required under respective accounting standards.
• Financial Statements preparation and compliance with applicable laws- Ensure FS (PL & BS) are reported in accordance with applicable laws, including preparation of notes to accounts & schedules. Assisting Corporate teams with required data etc.
• Fixed Asset Register Review- Ensure that CWIP and Fixed Asset are correctly accounted as per the organization policy and review CWIP and FAR on monthly basis