Regional Commercial Professional - Jewellery - West Zone

Description:

This role entails collaborating with the business to maintain seamless operations aligned with diverse processes an policies. Key responsibilities include conducting accurate revenue reconciliations, providing commercial training for store personnel, engaging proactively with channel partners, projecting costs, analysing margins, monitoring expenses to ensure adherence to budgetary limits, conducting periodic GL reviews and ensuring accurate accounting, preventing losses due to GST input tax credit and direct taxes, and analysing receivables and payables to maintain control External Interfaces Internal Interfaces

- Tax Department

- Regulatory Authorities

- Auditors

- Banks

- Customers and Vendors

- HR & Administration Team

- IRSG / BD Team

- Legal Team

- Company Store Operational Team

- Retail / Sales Team

- Treasury team

- Division Commercial Team

Job Requirements:

Education - Chartered Accountant

Relevant Experience - 6 - 8 years in Retail Commercial Operations

Behavioural Skills - Persuasion

- Decision making

- Analytical mind-set

- Leadership

- Stakeholder management

- Accountability

Knowledge :

- Commercial Knowledge / Advanced Computer Skills

- Retail Industry understanding

Process Contributions:

Process Contribution Process Outcome Performance Measure

Commercial: Business Planning: Overheads Budgeting

1. Discuss Annual Operating Plan with Sales / Retail Team

2. Create store and regional expenditure projection based on inputs from HR / Admin Team and Sales / Retail Team

3. Submit projections to Divisional Commercial within agreed timelines

- Budget sheet - Adherence to timelines

Commercial: Business Plan Review: Variance Analysis

1. Analyze cost variance on monthly basis

2. Do RC analysis for major variances and influence stakeholders to take corrective steps

3. Prepare and publish monthly Store Profitability Report in coordination with Retail / Sales Team

- Cost Control

Tracking

- Deviations from projections

- Adherence to timelines

Commercial: Payables / Receivables: Debtor Management

1. Partner with Retail / Sales Team in Debtors management

2. Ensure there are no outstanding and money is received within credit

period. Do periodic analysis to determine non adherence to SOA

3. Share periodic updates with stakeholders and ensure reconciliation with customers in case of any outstanding

4. Ensure Customer Balances are correct and support FICO team in identifying variances

- Debtors Ageing

Report

- Risk Mitigation

- Working Capital

Management

- Adherence to timelines

- Balance Confirmation

Commercial: Payables / Receivables: Franchisee Payable Management

1. Ensure all Franchisee Claims are settled as per timelines

2. Ensure Quarterly sign off with franchisee and share reconciliations with stakeholders

3. Co-ordinate with Business Team for Store opening / Closing / Conversion and ensure adherence to various related processes.

- Claim monitoring, processing and payment

- Adherence to SLA

Sensitivity: Internal

4. Ensure that all the licenses are in place and necessary commercial infrastructure is available at the Store

Commercial: Working Capital Management: Regional fund management (inclusive of revenue reconciliation)

1. Reconcile FIT with treasury team on a monthly basis and periodic review of unreconciled items.

2. Liasion with Internal and External stakeholders incase of unreconciled items

3. Provide daily fund requirement to treasury team and periodic cash flow statement to Treasury Team

- Working Capital Management

- Reconciliation

Report

- Number of open items

- Outstanding credits

- Idle funds

Commercial: Business Support: Compliance

4. Ensure all SOPs and laid down policies are followed by team

5. Periodic guidance to Retail teams on business transactions and handling customer related queries

6. Take proper approvals as per Schedule of authority (SOA) in case of exceptions

7. Due Diligence of new franchisee prospect and existing franchisee partners

8. Ensure compliance with various statutory laws and regulations

9. Ensure 100% audit ratings by Retail Stores

10. Ensure 100% compliance adherence by Company Stores and oversee their commercial operations through Store Commercial Officer

- Avoid process deviations and legal disputes

- Deviations from adherence

- Adherence to timelines

- Number of litigations and audit observations

Commercial: Business Support: Tax Assessment

1. Provide Monthly Reports to Indirect Team

2. Do periodic review of GST Input Tax Credit availed by the Region and ensure there are no defaults / loss to Company due to non- compliance by Vendor

3. Periodic Review of TDS and to ensure that Credits are reflecting in 26AS for all taxes deducted by Customer

- Various reports related to tax

- Adherence to statutory requirements

Commercial: Business Support: GL Review

1. Initiate monthly review of region related General Ledgers

2. Monitor and resolve long pending items/issues highlighted after GL review and ensure there are no carry forwards of previous period

- GL wise ageing analysis

- Resolution of long pending items/ issues

Commercial: Business Support: Training and Development

1. Supervise and execute quarterly refreshment trainings to Sales / Retail Team related to current SOPs and latest policies

2. Supervise and execute statutory and commercial training to store staff, Associates and Vendors

- Avoid process deviations and legal disputes

- Adherence to timeline

- Number of trainings conducted

Commercial: Business Support: Business Associate and Store engagement

1. Work with Retail / Sales Team to improve SLA on claim processing

2. Meet business associates on a periodic basis to understand their grievances if any and influence stakeholders to resolve

3. Co-ordinate with Corporate Commercial for fund arrangements and working capital co-ordination as and when required

- Governance in retail operations

- Number of pending issues

Commercial: Business Support: Policy Creation and Process Improvement

3. Configure channel wise and customer wise Terms of Trade (ToT) for business associates by coordinating with Divisional Commercial Team

4. Periodic Validation of franchisee margins. Existing and New

- Risk Mitigation

- Business Transaction Enablement

- Adherence to timeline

- Zero Revenue Leakage

Commercial: Business Support: Month End Book Closing and MIS Management

1. Ensure preparation of month end provisions including submission of various MIS to Regional Commercial Head

2. Ensure reversal of undelivered goods and accounting of all the credits

3. Ensure reversal of earlier provisions and fresh provisions for all pay- outs and overheads

4. Sign of Regional Overheads and Income Accounting before month closure

- Reports related to pay-out and overheads

- Bank reconciliation report

- Debtors ageing report

- Accuracy in provisions

- Adherence to timelines