Financial Internal Controller

Job Description:

Job Summary:

The Financial Internal Controller is responsible for designing, implementing, and monitoring a strong internal control framework to safeguard the company’s assets, ensure financial accuracy, and support compliance with internal policies and external regulations. This role is critical in identifying financial and operational risks, reducing fraud, and improving process efficiency across the retail value chain—from store operations to backend finance.

Key Responsibilities:

1. Internal Control Framework

• Develop and implement a robust internal control system across all retail operations (stores, warehouses, and corporate offices).

• Review and enhance SOPs related to procurement, sales, inventory, payments, and financial reporting.

2. Risk Assessment & Mitigation

• Identify key financial risks and assess the adequacy of controls in place.

• Perform regular risk assessments, control reviews, and compliance checks.

• Develop action plans for risk mitigation in collaboration with business units.

3. Process Audits & Reviews

• Conduct periodic internal audits and surprise checks to ensure adherence to policies.

• Evaluate the design and operational effectiveness of existing controls.

• Recommend and monitor implementation of corrective actions.

4. Compliance & Regulatory Monitoring

• Ensure compliance with statutory regulations (GST, Income Tax, Company Law, etc.).

• Coordinate with external auditors and regulatory bodies during inspections or audits.

• Support documentation and evidence collection for SOX, if applicable.

5. Financial Reporting & Integrity

• Validate accuracy and integrity of financial reports and reconciliations.

• Review and monitor cash handling, point-of-sale processes, and revenue recognition policies.

• Support timely and error-free monthly, quarterly, and annual closings.

6. Training & Awareness

• Conduct training and awareness programs on internal control policies for store and finance staff.

• Promote a culture of compliance and ethical behavior.

Key Skills & Competencies:

• Strong analytical and problem-solving skills.

• Deep understanding of financial processes in a retail environment.

• Familiarity with ERP systems (SAP, Oracle, Microsoft Dynamics) and POS systems.

• Knowledge of internal control frameworks (e.g., COSO, COBIT).

• Excellent communication, stakeholder management, and presentation skills.

Qualifications & Experience:

• Chartered Accountant (CA), CMA, CPA, or MBA in Finance.

• 7+ years of experience in internal controls or internal audit, with at least 3 years in retail or FMCG.

• Exposure to large-format retail operations or multi-store environments is an advantage.

• Prior experience with Big 4 firms or internal audit consultancies preferred.