FH F&C

Job Purpose

To lead and direct the Commercial, Finance & Purchase functions at Project / Unit and be responsible for all necessary aspects including billing, collection, reconciliations, finance & accounts and procurement functions.

Job Context & Major Challenges

EMIL Mines and Mineral Resources Limited (EMMRL), wholly owned subsidiary of Essel Mining & Industries Limited (EMIL) had been declared as Successful Bidder for Bandha Coal Block in Singrauli district of Madhya Pradesh (~37 km from Singrauli City) in the Commercial Coal Auction. It is a greenfield project with Peak Rated Capacity (PRC) of 5 Million tonnes per annum. EMMRL is currently in the process of getting statutory clearances. Some of the major challenges in operationalization of the coal block including getting statutory clearances, liaise with statutory authorities to expedite commencement and smooth running of operation, undertake land acquisition and possession, shifting of Project PDFs, implementation of Rehabilitation and Resettlement (R&R) policy, execute mining lease, commence and achieve peak coal production at competitive cost, maintain coal quality, ensure safe operation, implement state-of-art technology in operation, maintenance and logistics infrastructure, drive digital initiatives, and marketing of coal. In addition, compliance with statutory norms, renewal/ amendment of statutory clearances, undertake progressive mine closure, facilitate smooth operation and comply with the requirements as per terms of Allotment Agreement.

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)

• KRA1 Planning and Budgeting Design and implement an appropriate policy framework to guide project’s decision-making and development in relation to finance & accounts, commercial and purchase
• Prepare annual budget and forecasts aligned to strategic plans and in accordance with guidelines of project and Group.
• Participate in strategic decision making and after sensitivity analysis
• KRA2 Controlling of Accounts Manage and maintain the financial accounting systems,
• Monitoring of proper keeping of books of accounts of all the expenses and incomes adhering to the standard.
• Oversee timely processing of vendor claims with fairness and making payment to the vendors against their claims as per the contract/ agreement.
• Ensuring the completion of monthly, quarterly and annual accounts in time with accuracy.
• KRA3 Compliance with Commercial Laws and Taxation Ensure financial and other reporting systems are maintained to the standards required by the ROC, Companies Act, Group Systems & Policies and external auditors and regulatory agencies
• To supervise and ensure adherence to Service Tax, VAT, WCT, IT etc.
• KRA4 Billing/ Collection & Working Capital Management Follow-up for in-situ measurement of production be completed and the joint measurement report duly signed to be available at the earliest.
• Monitoring the billing be completed and submitted at the earliest after obtaining of Joint Insitu Measurement Sheet.
• Ensuring the early collection of bills against the bills raised.
• Ensuring timely remittance of fund requirement to CFD and coordination for availability of fund in time with an intention to reduce holding cost of fund and get more interest income from temporary investment.
• KRA5 Financial Analysis, MIS & Cost Control Ensure timely preparation of Trial balance of all profit centers of the unit.
• Reconciliation/Cross checking of various data required for MIS.
• Ensuring to submit the management information reports in time.
• Identification of the areas of cost control and brought to the notice of COO for implementations of internal checks/controls.
• KRA6 Purchase & Stores Manage the purchase function of the unit including purchase processes, contracts, payments and vendor management
• Monitoring the purchase and stores functions to ensure timely purchase/ procurement with competitive rate
• Ensure establishment of standard procedures establishment and ensuring zero deviation.