Job description
Primary
Responsibilities:
Statutory
Requirements
Ensure appropriate compliance on all statutory and financial obligations (taxation, accounting, etc.) as per Audi India and the company’s act and law of the land
Ensure dealership compliance to all legal requirements as per the regulations applicable
Dealership Finance
Identify sources and generate additional funds as per requirements to support daily dealer operations and business expansion plans
Build relationship with key bankers and financers in the region and identify optimal cost of borrowing
Identify and highlight all financial and non-financial business risks that apply for sustained dealership operations
Manage and overview working capital requirement and daily business cash flows for the business
Manage various limits, such as New Cars, Demo, Used cars, Term loans on a daily/monthly basis.
Ensure preparation of audit reports such as Balance Sheet, P&L for the dealership operations.
Provide expertise in dealing with vendors and leverage scale of operations to get best deals on supplies for the dealership.
Dealership organization
Assist in defining the vision and mission statement for the dealer organization in alignment with the Dealer Principal and CEO
Ensure & support creation and maintenance of a right sized dealer organization structure
Create and update dealership employee policies as per requirement
Assist the CEO in finalizing the employee incentive plans, salary increments and promotions for dealership employees
Ensure all performance management process activities of finance department employees are completed timely and satisfactorily
Business Planning
Support the CEO in creating annual business targets for all dealership departments based on the Appendix and dealership priorities
Facilitate in building of the dealership business expansion plan and help financially validate the business case for the same
Measure business profitability on an on-going basis across Sales and Service, and facilitate in building action plan to drive a profitable business.
Business Monitoring
Monitor and maintain the finance department KPIs for business analysis and forecasting
With the CEO, conduct monthly, quarterly and annual business overview analysis (target vs. achievement) and performance analysis (including Metis report analysis) meetings with each department head
Identify and monitor areas of optimizing business operations along with the CEO, at both a Revenue and Cost level
Monitor receivables from Audi India and customers and also payables to vendors, employees, VWFS and Audi India
Measure, review, and control the line of credit available with VWFS / or any other financiers and minimize interest incurred on inventory
Provide periodic feedback to functional managers on their functionality from the dealership profitability perspective.
Measures (Reports):
Net Profitability
Fund Gap Analysis & Planning; Action Plan and review of Current Ratio, Quick Ratio, D/E Ratio, Interest Coverage Ratio, Net Worth, Fixed Capital to Fixed Assets Ratio
Fund/Cost/Receivables/Payout Management and Reporting
Budget and Fund Allocation and utilization for each department
Average Working Capital (in days)
Net Cash Flow (Last 3 Months)
Inventory Funding Interest per unit
Total Finance Overhead Cost as a % of total Turnover
Fixed Capital to Fixed Assets Ratio
Manpower Attrition - Finance Department