Accounts Receivable / Credit Control/ Royalty / IP
Strict adherence to the Global Credit policy & processes.
To ensure regular follow ups / discussions with Business Heads for collecting Debtors OS. Regular interaction with key clients for resolving credit related queries.
Review monthly debtors report, DSOs, preparing detailed debtor's provision statements & other reports to be sent to Group credit control.
Prepare annual collection budget & monitor the same on regular basis against actual collection & take necessary corrective action in co-ordination with Businesses.
Discuss with legal for initiating legal action for the recovery of old debts or for any cheque bounce cases.
Monthly analyse the bad debt provision & review/post related accounting entries with monthly water fall for Bad debt provisions & bad debt written off. Review monthly schedule for the same.
Ensure new client addition only after appropriate compliance & due-diligence check in coordination with compliance team & ensure execution of proper term letters before enrolling any new client. Ensure proper & safe documentation of client records including term letters.
Ensure execution of royalty / IP agreements before updating ISBN master data in WINBDS.
Review detailed royalty / IP calculations, Schedule & review/post related accounting entries on monthly basis. Analyse variance between budget vs actual royalty/IP expenses & discuss with business.
Liaise with global Royalty processing team for timely royalty payments to authors & resolve author queries regarding the same.
Review TOD/CD/CN/DN calculation & review/posting of accounting entries for the same. Review monthly schedules for the same.
Liaising with auditors for royalty/IP & debtors, DSO related schedule/queries. Cashflow management/Accounts Payable / Banking / Foreign Pay-outs / Treasury Management
Prepare Yearly/Monthly/Weekly cash flow & carry out variance analysis with budget vs actual spend.
Manage banking relationships & ensure smooth functioning of CMS/centralised payment solution and resolving any issues with bank.
Ensure adherence of FEMA regulations including withholding tax compliances for all foreign payments & documentation.
Ensure efficient treasury management with speedy AR collection & minimum use of overdraft facility.
Weekly Creditors Review.
Ensure vendor payments processing as per the agreed payment terms/aging balances.
Ensure timely payments of recurring & fixed expenses like rent/utility payment, Employee reimbursements.
Ensure monthly reconciliation of corporate credit card expenses.
Review & upload bank payment file as per bank's format ensuring correct account details of vendors/employees as per SAP master data.
To prepare audit schedule with variance analysis vs previous year
Additional Duties
To carry out any other duties which may be reasonably expected of you by your immediate manager or an SLT team member.
Press Policies and Procedures
To abide by all Press policies and procedures, as detailed in your contract of employment and the Staff Handbook, e.g. Code of ethics, anti-bribery and corruption, Health and Safety, e-mail and Internet use and standards of behaviour.
Context
Operating Environment: Intensive Sales Environment, Fast paced execution, managing multiple engagements at the same time. Working with governments and education boards & bodies Strategic and Thought leadership engagement with the Business partners/clients Managing and working within Company's compliance framework. Collaborating with internal peers and Leadership team and working in a matrixed organisation to deliver results
Framework &
Boundaries: Adherence to the Global Credit Policy, Meeting Month-End timelines, Team Management, Co-ordination with the management team, Client interaction.
Relationships
Subordinates: Team of 3 employees (2 direct and 1 indirect) to meet objectives
Superior(s): Frequent and close interactions with COO and business heads for achieving the job responsibilities.
Other Contacts:
Within the company - Maintaining a regular and close contact with Business Key People, Operation & Customer Service to ensure a common approach and face to the markets. Outside the company - Regular interaction with clients and bankers.
Knowledge and Experience
Work experience of 12 to 15 years in a similar role preferably in the Education Industry but that is not a limitation.
Must be a Chartered Accountant or MBA (Finance) from a reputed institute and worked with senior management or decision makers & have a handful experience on Credit Control and Treasury.
Sound knowledge of treasury function and technically updated with all banking products/ processes. In-depth knowledge of FEMA and RBI related compliances.
Sound knowledge of Credit Control Function. Ensuring strict adherence to policies and processes.
Cash Flow planning, comparison of actual vs. budgets and in depth analysis for reason of variations.
Good knowledge of IGAAP and handling auditors' queries related to treasury and credit control.
Excellent communication skills; should be able to communicate proficiently with external & internal stakeholders.
Adequate experience of working in the South Asia Market and preferably in the Education segment in addition.
Proven track record of delivering success in managing business for credit control, advocacy, and impact.
Strong Strategic and Business Management skills, Ability to work with and interpret Data, Strong Business Development and Execution Skills, ability to multi-task and manage both individual and team engagements.
Must have handled a team of 4-5 team members which has a mix of senior and middle staff.
Guiding & motivating Team members on their core competencies.
Job Challenges
Working in a Matrixed Organisation, having Strong Controls & Compliance policies that can sometimes result in exiting opportunities, having a large region to cover across countries with multiple priorities maybe some of the challenges to expect in the job. Multitasking and analysing the outstanding debt to avoid any potential bad debts. Communicating with the clients and internal stakeholders to recover outstanding payments keeping in mind the Company's policies & framework. Helping other departments to take decisions that impact overall health of the organisation.
