About the Company
Futuristic Labs is exactly what it sounds like - a place to 'dream' & 'build' futuristic products. A research and product development studio with an enthusiastic team working towards building innovative consumer products to create a future with a superior and healthier lifestyle.
At the moment we are set out to solve home cooking. To achieve this, we have RIKU, our flagship product, which is a fully automatic, AI-assisted rice and curry maker. Other products in this ecosystem are Semi - A smart induction cooktop, A digital kitchen app and a Recipe platform. The perfect blend of hardware and software.
So if you love good home-cooked food and are excited to build an automated solution for the entire cooking process, then this is the place for you!
Our small team of engineers and designers have been building smart kitchen appliances for the past couple of years and is at the cusp of our global launch. This imminent launch, however, is only the beginning. To ensure we continue to build and ship products that most empower our users to cook at home with minimal time, effort & skill, our team is looking for a master of a coin to make sure the financial health of the company is well-planned and secured. You will be the first person on our finance team and will have the unique opportunity to set up processes, hire and grow along with the company to lead the entire finance function.
Requirements
What you'll do:
Own:
The entire finance function of the company which includes Financial Planning & Analysis (FP&A), AR, AP, Taxation (direct & indirect taxes), statutory compliance, revenue operations, Risk Analysis, Payroll & Purchasing.
Establish and maintain the financial policies and procedures for the company.
Processes:
Set and implement financial controls and establish cost centres across the company.
Align finance function with the overall strategy of the company.
Set and implement processes and strategies to have an effective cash flow management.
Conduct thorough Financial Planning & Analysis every quarter.
Identify operational improvement opportunities and drive implementation.
Preparing concise documents, tailored to various levels of stakeholders to articulate complex finance issues clearly and enable effective collaboration.
Financial modelling:
Build financial models for our products, both digital (Mobile App & Platform) and hardware (Riku & Semi) and assist with pricing.
Conduct Risk Analysis, Identify operational improvement opportunities and drive implementation.
Coordinate with the CEO in preparing budget forecasts, reviewing actuals and executing budgetary controls, preparing monthly budget vs. actual analysis, margins and ROI.
Advise the CEO with forecasts and reports to analyse and optimise operations, with the aim of supporting overall business decisions regarding margins and other objectives.
Assist the CEO in fundraising with valuation, TAM, SAM, SOM & revenue projections.
Coordinate with CEO and HR in setting up Employee Stock Option Pool (ESOP's) and other employee benefits.
Conduct market analysis and coordinate with HR to find market trends for compensation and benefits in the industry, with the objective of attracting and retaining top talent.
Compliance:
Ensure statutory compliance according to Indian, direct and indirect tax laws including monthly/ quarterly/ annual filings (TDS, GST, Income tax, Advance tax)
Labor law compliances (Shops & Establishments, PF, PT, ESI, Gratuity, etc.)
Verification of GST return Input tax credits with GSTR 2A and timely follow-ups with vendors.
Company secretarial compliances/responsibilities
Accounting
Handle all account receivables and payables.
Monitor and analyse accounting data and produce financial reports or statements - monthly, quarterly and annual.
Setup best practices for bookkeeping & accounting. Establish and maintain fiscal files and records to document transactions.
Handling statutory audits and IT audits.
Process Payroll and Reimbursements - ensuring correctness of information provided by HR regarding pay slips after deduction of leaves.
What we think you will need to succeed:
Degree: MBA Finance
Minimum 3-4 years' experience in a finance manager/analyst role, bonus if in a consumer electronics company.
Demonstrated experience in building financial models for products.
Strong business acumen and knowledge of aligning finance function with overall business strategy.
Knowledge of financial terms in contracts with suppliers, vendors and customers.
Experience in Payroll management.
Strong understanding of end-to-end reporting and control processes.
Demonstrated experience in Tax/TDS/Tax returns, Auditing, Financial Management & Asset Management.
Must be conversant and experienced in GST regulations.
Excellent analytical, interpersonal, communication and influencing skills.
Ability to summarise complex information and deliver it at business executive level.
Self-motivated and willing to take initiative; ability to thrive in a changing work environment.
Curious about what it's like to work at Futuristic Labs?
Being in an early start-up, you will be working closely and along with the leadership team and can potentially learn and grow exponentially. (other roles)
Our people are at the heart of what we do at Futuristic Labs. We know we are better when all of our people are developed, engaged and able to bring their whole authentic selves to work. We invest in the health and well-being of our people. We train and reward talent and are looking to develop leaders at all levels to bring out the best in each other.