Finance Executive - Modern Trade

Job Description: Finance Executive - Wipro Consumer Care

Position: Finance Executive
Department: MT Commercial Team
Location: Bangalore BO
Reporting to: Manager Commercial

Job Overview:

We are looking for a highly organized and detail-oriented Finance Executive to join the MT Commercial Team at Wipro Consumer Care. The role will be responsible for invoice tracking, managing payment receipting, handling product quantity and price variance debits, processing claims, and analyzing priority outstanding amounts. This position requires effective coordination across departments to ensure smooth financial operations and the resolution of any discrepancies.

Key Responsibilities:

1. Invoice Tracking and Payment Management:

• Daily Invoice Tracking: Track invoices on a daily basis using the provided format (Invoice tracker.xlsx).
• Outstanding/Overdue Invoice Reporting: Share outstanding/overdue invoices with customers/chains twice a week (Monday and Thursday), aging-wise.
• POD Collection and Management:
  • Check the Proof of Delivery (POD) status twice a week.
  • Follow up consistently with branches until all PODs are received.
  • Share PODs against outstanding invoices with customers immediately to facilitate payment release.
• Payment Receipting: Ensure payment is received and recorded (Knocked off) within D+1 working day.

2. Product Quantity Variance Debits Analysis (Weekly):

• POD Verification: Immediately check POD copies and verify the quantity variance debit amounts.
• Debit Amount Matching: If the debit amount matches the POD acknowledged copy, verify if SRNs are recorded in the customer ledger.
  • Follow up with branches to rectify any discrepancies related to SRNs.
  • Resolve discrepancies with branch offices and ensure all SRNs are knocked off in the ledger.
• Excess Debit Escalation: In case of excess debit, escalate the issue to the respective chains/customers for reversal.
• Follow-Up on Reversals: Ensure continuous follow-up until the reversal is completed by the respective chain/customer.
• Issue Escalation: Raise unresolved issues to the MT Commercial Head.

3. Product Price Variance Debits Analysis (Weekly):

• Price Variance Identification: Identify any product price variance debits.
• Preparation of SKU-wise Price Details: Prepare detailed reports of price debits SKU-wise.
• Data Sharing: Share the analysis with the respective KAM team along with supporting workings.
• KAM Team Validation:
  • In cases where Wipro billed higher than the agreed price, collaborate with KAM team to seek approval for issuing credit notes.
  • In cases of incorrect pricing by customers/chains, escalate the issue to the respective buyers.
• Resolution Follow-up: Lead efforts to resolve rate difference issues by following up with KAM and customers for issuing credit notes or reversals.
• Issue Escalation: Raise unresolved issues to the MT Commercial Head.

4. Processing of TOT Claims:

• Claim Tracker Maintenance: Maintain the claims tracker and ensure its accuracy.
• Submission Follow-Up: Follow up with the KAM team for timely submission of claims.
• Claim Processing: Process all claims within M+20 days.
• Budget Coordination: Follow up with the trade marketing manager for budget availability and approval.
• Claim Processing Timeline: Ensure TOT claims are processed within 5 working days after receiving MT head approval.
• Issue Escalation: Raise any claim processing issues to the MT Commercial Head.

5. Priority Outstanding Analysis:

• Outstanding Amount Prioritization: Focus on closing Rs. 10.34 crores of outstanding balances as a top priority.
• Weekly Analysis: Analyze and track the outstanding amounts across multiple customers for timely resolution.

6. Reconciliation and Collection of NDC (No Due Certificate):

• Quarterly Reconciliation: Perform quarterly reconciliations and obtain sign-off from customers/chains to ensure no outstanding dues.

7. Weekly Review:

• Participate in weekly reviews led by the Commercial Head, focusing on the following:
  • Invoice overdue status.
  • Claims pendency and resolution.
  • Product quantity and price variance (PQV & PPV) status.
  • POD collection and payment trend analysis.

Skills and Qualifications:

• Bachelor's degree in Finance, Accounting, or related field.
• Proven experience in finance or commercial operations, preferably in a consumer goods or FMCG company.
• Strong analytical skills with the ability to work with large data sets.
• Proficiency in Microsoft Excel and other related tools (knowledge of financial tracking templates like Invoice Tracker and Claims Tracker is a plus).
• Excellent communication skills to collaborate with multiple teams and external customers.
• Detail-oriented with strong organizational and time-management skills.
• Ability to work under pressure and meet deadlines