Assistant Manager - Accounts Receivable - Retail (5-7 yrs)

Job Overview:

- We are urgently seeking a skilled Assistant Manager - Accounts Receivable to join the finance team of a leading multinational retail brand based in Gurgaon.

- The ideal candidate will have at least 5 years of experience in accounts receivable, credit control, and financial operations within the retail industry.

- The role requires a strong understanding of financial processes, ERP systems, margin and royalty calculations, and GST compliance.

Key Responsibilities:

Credit Management:

- Setting and Reviewing Credit Limits: Establish appropriate credit limits for all customers based on their payment history, financial standing, and business relationship.

- Regularly review and adjust credit limits as needed to ensure that the company is protected from excessive credit risk.

- Monitoring Credit Risk: Continuously assess the credit risk of customers, ensuring that the credit exposure is managed effectively and that collections are timely.

Accounts Receivable and Collection Management:

- Receivables Monitoring: Manage and monitor accounts receivable for all regions, ensuring that outstanding payments are collected within agreed-upon terms.

- Daily/Weekly/Monthly Reports: Prepare and review regular reports on receivables, including DSO (Days Sales Outstanding), customer provisions, and collection performance.

- Collection Follow-up: Liaise with customers to resolve overdue payments and ensure prompt collection while maintaining positive relationships.

- Dispute Resolution: Identify discrepancies related to payments, invoice mismatches, or incorrect billing and escalate issues to the relevant departments for resolution.

Invoice and Statement Management:

- Accurate Billing: Ensure the correct and timely preparation of invoices for all customers, and ensure that all customer statements are accurate and reflect the current receivables status.

- Reconciliation: Regularly reconcile customer accounts, identify discrepancies, and provide explanations for outstanding balances.

- Customer Communication: Communicate regularly with customers to ensure they are informed about their outstanding dues and payment schedules.

Cash Flow Management:

- Ensure efficient cash flow management by reducing the receivables aging and improving the working capital cycle.

- Proactively work with the collections team to optimize cash flow, reduce overdue receivables, and maintain an effective cash conversion cycle.

Royalty and Margin Calculation:

- Margin Calculation: Review and calculate margins for sales transactions, ensuring alignment with company policies and profitability targets.

- Royalty Calculation: Handle the calculation and reconciliation of royalty payments, ensuring accuracy and adherence to contractual terms and timelines.

Banking and Financial Documentation:

- L/C and Bank Guarantee Management: Handle the issuance and management of Letters of Credit (L/C), Bank Guarantees, and other financial instruments for customers, ensuring compliance with contractual agreements.

- Bank Reconciliation: Perform regular bank reconciliations, ensuring the accuracy of customer receipts and payments.

GST Compliance and Reporting:

- GST Filing: Ensure timely and accurate GST filing for the company's accounts receivable transactions, including proper documentation for input tax credits and compliance with applicable GST laws.

- Documentation Management: Maintain accurate documentation and records for GST compliance and assist in audits related to accounts receivable.

Reporting and MIS:

- MIS Reports: Provide regular Management Information System (MIS) reports on receivables, credit control performance, DSO, and collections status.

- Financial Analysis: Analyze accounts receivable trends, highlight potential risks, and make recommendations for process improvements or adjustments in credit terms.

Internal Controls and Compliance:

- Ensure adherence to company policies and financial controls in all aspects of accounts receivable and credit management.

- Work closely with the finance and audit teams to ensure compliance with internal controls, SOX (Sarbanes-Oxley) regulations, and any external audit requirements.

Key Skills and Qualifications:

- Education: Bachelor's / master's degree in Commerce, Finance, or Accounting.

- Experience: Minimum 5 years of experience in Accounts Receivable, Credit Control, or Finance, preferably in a retail or MNC environment.