Team Member - Money, Materials & Compliances

Overview

This role involves executing the strategic objectives of Money, Materials & Compliances within Reliance Industries Limited across Accounting & Reporting, Taxation, Treasury, Audits, Insurance, Procurement, Contracts, and Legal functions. The objective is to align with business goals, manage finances prudently, control costs, avoid losses, mitigate risks, and ensure adherence to internal and external compliance mandates facilitating uninterrupted business operations under the Annual Operating Plan and organizational policies.

Key Responsibilities

• Collaborate with the MMC P&L leader and Team Lead to build and execute financial strategies aligned with organizational growth and market conditions.
• Support cost control initiatives aimed at optimizing expenditures and eliminating waste across projects and teams.
• Ensure timely payment and verification of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS), resolving discrepancies through communication with stakeholders.
• Manage compliance with income tax regulations including filing returns, validating PAN details, downloading necessary certificates, and maintaining tax records.
• Assist in preparing detailed monthly MIS reports on Profit and Loss accounts and Balance Sheets and conduct quarterly financial assessments aiding SCM functions.
• Forecast cash flows to maintain liquidity and analyze procurement costs for identifying savings while managing purchase orders and contract negotiations.
• Maintain accurate accounting records, perform bank payment entry postings, clear general ledger accounts timely, and manage SAP system data uploads after payment and return cycles.
• Conduct month-end and year-end closing processes and contribute to budget-to-actual performance analysis ensuring financial data integrity.
• Research industry trends, regulatory changes, and best practices to monitor compliance requirements and recommend process improvements including automation.
• Gather data for tax, internal and statutory audits ensuring regulatory compliance and prepare for external audits by organizing documentation and responding to audit queries.
• Maintain compliance with tax and government regulations including direct and indirect taxes (GST, VAT, excise).
• Manage financial risk exposure by aiding risk mitigation strategies, oversee contract administration and ensure adherence to contractual and policy guidelines.
• Prepare reports on working capital, tax documentation, anti-dumping investigations, and other regulatory requirements with diligent record keeping for TDS/TCS and related compliance activities.

Success Metrics

• Financial accuracy percentage
• Budget compliance percentage
• Quality of generated reports
• Zero penalties or infractions
• Timely delivery of financial reports
• Reduction in operational expenses
• Compliance with GST regulations
• Zero loss of assets or revenue

Working Relationships

Collaborate internally with business, insurance, treasury, direct tax, and indirect tax teams; externally engage with consultants and government authorities.

Qualifications and Experience

Graduate in any discipline (preferably Finance) with a Management degree preferred. Candidates should possess a minimum of 4 years relevant experience in finance, accounting, taxation, procurement, compliance, and audit domains.

Career Progression

Entry through Associate Team Member; potential advancement to Senior Team Member in Money, Materials & Compliances.