Opportunities for a Bright Future

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Appointment of Chief Financial Officer (CFO)

(Notification dated 14.09.2022)

UBI Services Ltd (A wholly owned subsidiary of Union Bank of India) headquartered in Mumbai (Thane), engaged in distribution of various retail asset and other products/services of Union Bank of India, invites applications from qualified candidates for the position of “Chief Financial Officer (CFO)” of the company, on a full – time basis.

The detail descriptions are furnished here under:

Position Title
  • Chief Financial Officer (CFO)
  • The “Chief Financial Officer (CFO)” reports to MD & CEO of the company and is responsible for financial planning & strategy, financial reports and its analysis, management of financial risks, company audits, compliance, and bank relationships. The CFO supervises the company’s finances and works closely with the CEO / Board of Directors, on all business matters relating to budget management, cost – benefit analysis, Risk mitigation, forecasting needs etc.
Roles and Responsibilities
  • Assess and evaluate financial performance across all territory / regions and products of the organization in the context of long-term operational goals, budgets and forecasts.
  • Based on the evaluation, provide insight and recommendations to both short-term and long-term growth plan of organization to Senior Management of the organisation.
  • Create and establish yearly financial objectives in consultation with Senior Management that align with the company’s plan for growth and expansion.
  • Select and engage consultants, auditors and investors.
  • Participate in pivotal decisions as they relate to strategic initiatives and operational models.
  • Supervise the Finance, Account & Operation department to ensure the proper functioning at all levels, including the databases and financial software / solutions.
  • Review and ensure application of appropriate internal controls, financial procedures and various compliances with regard to TDS, TCS and other required financial compliances.
  • Ensure accuracy of financial and timely submission of management reporting data to the company’s board of directors.
  • Supervise the preparation and communication of weekly, monthly and annual financial statements.
  • Supervise the preparation and timely filing of all local, state and central returns.
  • Work with Human Resources to ensure appropriate legal compliance.
  • Supervise the month-end close process, constantly reviewing procedures while eliminating inefficiencies.
  • Review all month-end closing activities including general ledger accounts, balance sheet accounts and overhead cost allocation.
  • Enhance and implement financial and accounting systems, processes, tools and control systems
  • Hire, develop and manage accounting managers and staff.
  • Serve as a key point of contact for external auditors, manage preparation and support of all external audits, manage cash flow planning process and ensure funds availability. Supervise cash, investments and asset management area.
  • Explore new investment opportunities and provide recommendations on potential returns and risks.
  • Maintain outstanding banking relationships and strategic alliances with vendors and business partners.
  • Utilize forward-looking models and activity-based analyses to provide financial insight into the organization’s plans and operating budgets.
  • Supervising and adopting best practices in the preparation and finalization of Standalone and consolidated Financial Statement of the organization.
  • Handling Income Tax Returns, compiling documents in the Income Tax Scrutiny, replying to Notices, review and complete procedure in income tax refund, submitting Appeals in consultation with Advisors.
  • Providing financial insights in the compliances of Corporate Laws, Annual MCA Submission,
  • Reviewing various Forms to be submitted at the MCA Portal and tracking of MCA Compliances.
  • Providing observation about Business Contract in the context of GST, Income Tax Laws and Companies Act.
  • Participating and sharing views on Corporate Action like Merger, Joint Ventures etc.
Job specific Skills
  • Good understanding of Balancing Financial Controls and Accounting Operations/ Experience posting journal entries and support with accurate backup.
  • Strong background in financial management (systems) with a thorough understanding of financial regulations
  • Determine adjustments required and prepare journal entries, monthly accruals and operating expense corrections, Perform management reporting on all internal as well as client-facing topics.
  • Operational Experience with SAP.
  • Knowledge of Microsoft Office (Word, Excel, Outlook, etc.) at a proficient level.
  • Use business intelligence (BI) to improve the company’s progress
  • Excellent Communication skill as a chief financial spokesperson of the company
Eligibility Criteria
  • Age: At least 40 years and not more than 55 years as of 1st September 2022.
  • Education: Must be Certified Chartered Accountant (CA)
  • Experience: Minimum 10 years of domain experience with at least 2 years’ experience as a Head / Deputy Head finance vertical as a Finance Director/VP Finance or equivalent, in mainstream Institution of BFSI sectors (Banking, financial services and insurance sector)
Nature of Appointment
  • On a full-time basis subject to satisfactory performance and annual review

The remuneration will be offered based on the candidate’s qualifications, experience, overall suitability, negotiations and shall not be a limiting factor for suitable candidate. The compensation will be on CTC basis.

Job Location

Mumbai (Thane) or as decided by the company

Selection Procedure
  • Selection will be based on screening / shortlisting of suitable profile and their personal interviews.
  • Applications received shall be screened based on experience and eligibility conditions as per the CV/resume provided by the candidates. The candidates may be called for preliminary interactions to determine their eligibility. Then the candidates will be shortlisted, based on their overall suitability, for personal interviews.
  • The appointment of selected candidates shall be subject to approval by the Board of Directors of the company.
Application Procedure

The applications shall be submitted only through online mode through the link available on https://ubisl.co.in under the “CAREER” tab.

Note: Kindly ensure that the Resumes / CVs have all the mandatory information about your job profile such as Name, contact detail / email id, DOB, educational qualification, Job Experience with current & previous organisation, Notice Period, Present/ Expected CTC etc. Any applications without complete resume shall be summarily rejected without any further contact from the company.

Last Date of Application

7th October 2022

General Instructions
  • The company reserves the right to call for any document in original in proof of the eligibility of the candidate.
  • Decision of the company shall be final and binding on all candidates in all matters regarding eligibility, conduct of interview and selection. No representation or correspondence will be entertained by the company in this regard.
  • The Shortlisted candidates will have to plan their journey at their own expenses for attending interview/Selection procedure, if any.
  • Intimations, wherever required will be sent by email/SMS only to the email ID and mobile number registered in the online application form. UBISL shall not be responsible if the information/ intimation do not reach candidates in case of change of mobile number, email address, technical fault or otherwise, beyond the control of the company.
  • The company reserves the right to alter, modify or change the eligibility criteria and/ or any of the other terms and conditions spelt out in this notification.
  • Candidates are advised in their interest to not to furnish any particulars / details / information or make statements that are false, incorrect, tampered, fabricated, and shouldn’t conceal or suppress any material information, while applying for the post, else will be disqualified from the selection process.
  • Any resultant dispute arising out of this notification shall be subject to the sole jurisdiction of the courts situated in Mumbai.
  • All revisions / corrigendum (if any) shall be hosted on the Company’s Website only.
  • Kindly do not submit multiple applications and in case of multiple applications, the last submitted application will only be considered based on the date / time of submission. In such cases, no part of the earlier submitted application including uploads shall be considered.
  • In case of any problem in filling up the form or uploading the resume, complaints may be made at email id kmprecruit@ubisl.co.in (only for Complain redressal, if any). Do not forget to mention “UBISL- Recruitment of Chief Financial Officer” as subject.