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Associate Director Finance
12-15 years
Bangalore / Bengaluru
1 vacancy
Associate Director Finance
Lowe's
posted 6d ago
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Job Description
About Lowe s
Lowes Companies, Inc. (NYSE: LOW) is a FORTUNE 50 home improvement company serving approximately 17 million customer transactions a week in the U.S. The total fiscal year 2022 sales were over $97 billion; Approximately $92 billion of sales were generated in the U.S., where Lowes operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowes supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts.
For more information, visit Lowes.com .
About Lowe s India
To know more about Lowes India, visit Lowes.co.in
About the Team
The Corporate Finance team is responsible for entire gamut of finance activities for Lowe s India. The Corporate Finance Team is responsible for Controllership, Treasury, Compliance , Tax and upgradation of finance systems. The Corporate Finance Team is also responsible for Financial Planning and Analysis and providing strategic support to the leadership and business teams.
Role & Responsibilities:
Controllership
- Responsible for integrity and the completeness of the books of accounts.
- Lead the Financial Accounting and Reporting team.
- Responsible for accurate and timely payment of vendor invoices in accordance with the applicable policies and regulations.
- Fixed Assets management.
- Payroll in partnership with the HR team.
- Play a lead role in the drafting of financial policies, procedures, process, guidelines, and forms for the Finance Operations.
- Design, define and implement Internal Financial Controls and ensure adherence with the Internal Financial Controls.
- Implement mitigating controls and checks to ensure that the controls are working effectively.
- Ensure appropriate segregation of duties within the finance team for functions assigned to each team member.
- Ensure that the risk management functions effectively by monitoring the timely insurance of assets and all other risks, renewals, and claims.
- Responsible for monthly closing and reporting and ensure adherence to the group reporting timelines for corporate consolidation.
- Monthly Balance Sheet reconciliations.
- Inter-company reconciliations.
- Support the Internal Audit process and ensure that required internal controls in place are demonstrated on a quarterly basis during the audit process with no/minimal deficiency reports.
- Lead the audit of the annual financial statements and tax audits and ensure that these are completed within the defined timelines.
- Update Internal Financial Control documentation and testing as appropriate for changes in the business.
- Partner with the tax team to determine monthly and annual tax provision.
Treasury
- Forecasting of monthly cash requirements.
- Managing the funds in manner to optimize the returns by investment in short term deposits.
- Managing cash flows in manner to ensure that there are no disruptions in the ongoing operations.
Compliance
- Responsible for ensuring compliance with the applicable laws and regulations as they pertain to the Finance operations.
- Ensure that all statutory dues and payments are made within the timelines specified under the applicable statute.
- Ensure that all statutory filings related to the financial operations are filed within the due dates as per the applicable laws and regulations including monthly, quarterly, and annual SEZ returns.
- GST compliance including ensuring the filing of monthly and annual returns and GST audit.
- Provide ongoing guidance to the business partners for compliance with the applicable laws and regulations as they pertain to the Finance operations.
- Partner with external advisors for completion of annual transfer pricing review and filing of annual corporate tax returns.
- Support and work with external advisors for income tax, GST assessments.
- Respond to queries from regulators and other external statutory authorities.
- Ensure compliance with the US Foreign Corrupt Practices Act in accordance with the corporate guidelines.
- Track and ensure compliance with all listed compliances for the Finance Team.
Systems Implementation and Up-gradation
- Enhance Internal Controls for modification of existing financial systems.
- Play a key role in the implementation of the new Finance ERP.
- Ensure that the migration of data form the existing Finance systems to the new Finance ERP are complete and accurate.
- To ensure that the existing Internal Financial Controls are implemented in the new Finance ERP.
- Ensure that the Finance systems are configured to be compliant with GST.
- To review the existing financial systems and processes and identify the opportunities for automation.
Strategic Support to Business and Shared service teams
- To collaborate with cross functional teams to resolve operational issues.
- Collaborate and partner with cross functional teams and peer groups for sharing information and adopting best practices.
- Work with stakeholders on varied and complex business situations and changes and provide advice and solutions that best suites the business while ensuring adherence to applicable regulations and compliance with the Internal Financial Controls.
- Provide meaningful insights on the ongoing operations of the company to enable the leadership to take appropriate business decisions.
- Provide timely, effective, and relevant information to the leadership which supports decision making at the organizational level.
Team and Leadership.
- Focus on Customers - At Lowe s, we put customers first by delivering SMART customer service. Build strong relationships with all customers, deliver solutions that meet their needs and think of new ways to add more value.
- Deliver Results - Hold themselves and the team accountable for delivering results, even through tough circumstances and ongoing change.
- Take Action - Take swift actions and push things forward with a sense of urgency and enthusiasm.
- Show Courage - Steps up to address difficult issues, make tough decisions and bring things up that need to be resolved without fear or hesitation.
- Continue Learning - Spread a culture of Learning to meet to meet individual and organizational goal for themselves and the team.
- Assess & Develop Talent - Evaluating and developing people to effectively manage performance, fill talent gaps.
- Direct Work - Providing direction, delegating, and removing obstacles to get work done.
- Drive Engagement - Creating a climate where associates feel valued and motivated to do their best to help Lowe s achieve its objectives.
- Value Differences - Recognizing the value that different perspectives and cultures bring to an organization.
- Ensure Accountability - Holding self and others accountable to meet commitments.
Experience & Qualification:
- 12 -15 years of post-qualification experience in corporate finance function, preferably with GCCs.
- Professional Qualification - Chartered Accountant.
- Strong knowledge and background in corporate finance functions.
- Good Knowledge of IND AS.
- Strong Team Management skills.
- Ability to partner and collaborate with stakeholders across the organization.
- Excellent communication skills.
- Good team player and go getter.
- Good presentation skills.
- Expertise in managing and finalizing all type of audits.
- Agile, adaptive, and dynamic to handle the various business situations.
- Willing to take new challenges and finds solution.
Employment Type: Full Time, Permanent
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What people at Lowe's are saying
Associate Director Finance salary at Lowe's
reported by
1
employee
with 18
years exp.
Unlock
₹73.2
L/yr - ₹80.8
L/yr
91%
more
than the average Associate Director Finance Salary in India
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