Head of Finance - BFSI

Location: Andheri, Mumbai

About the Role

The Head of finance is a key executive responsible for the financial strategy, control,

and stewardship of International Asset Reconstruction Company (IARC). The role

oversees financial planning, accounting and reporting, cash flow and liquidity

management, capital adequacy, and stakeholder relations, with particular emphasis

on the financial and regulatory dimensions unique to the ARC business including

acquisition of financial assets/NPAs, issuance and management of Security Receipts

(SRs), and compliance with the SARFAESI Act, 2002 and RBI's ARC Master Directions.

This role is central to ensuring the company's financial stability, regulatory

compliance, and sustainable growth.

Key Responsibilities

1. Financial Control & Reporting

Oversee preparation of accurate financial statements in compliance with

Indian Accounting Standards (Ind AS) / IFRS, and RBI's regulatory reporting

formats for ARCs.

Ensure timely and accurate filings with the RBI, Registrar of Companies, SEBI

(where SRs are listed) and other regulatory bodies, including returns specific

to ARCs (e.g., NPA acquisition and SR reporting).

Oversee monthly, quarterly, and annual closing processes, including

scheme/trust-wise accounting for each Security Receipt trust floated by the

ARC.

Ensure accurate asset-wise and trust-wise books of account are maintained,

reflecting acquisition cost, recoveries, provisioning, and net asset value (NAV)

of underlying SRs.

Implement controls to optimize operating expenses and support sustainable

growth while aligning with budgetary goals and RBI's Owned Fund and capital

adequacy requirements.

Ensure financial and trust records are securely maintained, audit-ready, and

retained in line with RBI and statutory requirements.

2. Budgeting & Forecasting

Develop, manage, and present budgets and financial forecasts aligned with

the company's strategic objectives, including acquisition pipeline and

resolution/recovery targets.

Provide variance analysis and KPIs (e.g., recovery rates, cost of acquisition, SR

redemption performance) to support management and Board

decision-making.

Generate internal financial reports — P&L;, balance sheet, cash flow, and

trust-wise NAV statements — for management and Investment Committee

review.

Update forecasts regularly based on actual recoveries, resolution timelines,

industry trends, and evolving stressed-asset market conditions.

Establish and track KPIs aligned with company goals, including portfolio-level

and scheme-level performance metrics.

Incorporate financial modelling for prospective NPA acquisitions, bid pricing,

and expected recovery cash flows to support investment decisions.

3. Internal Controls & Financial Systems

Design and implement internal control systems to safeguard assets, ensure

data accuracy, and support fair valuation of acquired financial assets and SRs.

Continuously evaluate and improve financial processes, systems, and





asset/trust accounting workflows for efficiency, accuracy, and compliance.

Manage maintenance and upgrading of financial and portfolio management

systems suited to ARC operations.

Define control processes for key financial areas including acquisition

consideration payouts, provisioning for SRs, recovery accounting, and

expense management.

Ensure financial systems comply with RBI's ARC Master Directions, SARFAESI

Act requirements, and company policies.

Implement role-based access controls, particularly around trust accounts,

recovery proceeds, and Security Receipt records.

4. Cash Flow & Liquidity Management

Oversee and manage the company's cash flow, including recovery proceeds

from underlying assets, to ensure adequate liquidity for operations and

Owned Fund investment obligations.

Develop cash flow forecasts covering acquisition funding requirements,

recovery inflows, and SR redemption/distribution schedules.

Monitor inflows and outflows across the ARC's own books and the

trusts/schemes it manages, ensuring segregation and correct application of

recovery proceeds.

Optimize working capital and manage the ARC's mandatory minimum

investment (Owned Fund) in each SR scheme as prescribed by RBI.

Evaluate cost of capital/debt (including NCDs and bank borrowings used to

fund acquisitions) and implement strategies to minimize financing costs.

Communicate cash flow and liquidity insights to management, Board, and

Security Receipt holders as required.

5. Banking & Financial Institution Relationships

Cultivate and maintain relationships with banks, financial institutions, and

NCD investors to secure funding lines for acquisition of financial assets on

favourable terms.

Ensure access to financing resources required for NPA/stressed-asset

acquisitions and working capital needs.

Negotiate terms for credit lines, NCDs, and other financing arrangements,

optimizing cost and structure in line with the company's risk appetite.

Liaise with credit rating agencies for ratings of the ARC and of Security

Receipts issued by its trusts.

Prepare regular reports for senior management and the Board on banking

relationships, debt levels, and financing costs.

6. Stakeholder Relations & Team Leadership

Build and manage relationships with investors, Qualified Buyers (QBs),

Security Receipt holders, and Trustees, ensuring transparency on the financial

health of the company and each trust/scheme.

Lead, mentor, and develop the finance team, fostering a high-performance

culture aligned with company objectives.

Facilitate Board and Audit Committee discussions on financial matters,





preparing accurate materials to support informed governance and regulatory

reporting.

Engage stakeholders on strategic financial initiatives, including capital raising,

portfolio acquisitions, and resolution strategies.

Collaborate with department heads (Acquisition, Resolution/Recovery, Legal,

Compliance, Risk) to align financial planning with operational strategy.

Develop succession plans and retention strategies for key finance team roles

to ensure business continuity.

7. ARC-Specific Regulatory & Portfolio Financial Management

Ensure compliance with the SARFAESI Act, 2002, RBI's Master

Directions/Guidelines for Asset Reconstruction Companies, and other

applicable regulatory frameworks governing ARCs.

Oversee financial accounting for acquisition of financial assets (NPAs) — both

on cash and Security Receipt (SR) consideration basis — including appropriate

discounting and fair valuation.

Monitor and report Net Asset Value (NAV) of Security Receipts issued to

Qualified Buyers, in coordination with independent credit rating agencies as

required by RBI.

Ensure adherence to RBI's prescribed Owned Fund investment norms

(minimum ARC investment in each SR scheme) and related capital adequacy

requirements.

Coordinate with the Resolution/Recovery teams to ensure accurate financial

recognition of recoveries, settlements, and write-offs against acquired assets.

Support statutory and RBI inspections/audits, ensuring trust-wise and

company-wise books withstand regulatory scrutiny.

Track and report provisioning requirements for management fees, SR

redemption shortfalls, and expected credit loss (ECL) on financial assets

under Ind AS.

Qualifications & Experience

Chartered Accountant (CA), CPA, CFA, or MBA (Finance) with advanced

qualifications in Finance or Accounting.

Extensive experience in financial management within NBFCs, ARCs, banks, or

other RBI-regulated financial institutions, preferably in a senior leadership

role.

Proven track record in financial planning, regulatory compliance, and process

improvement, ideally within the stressed-asset/distressed-debt space.

Strong knowledge of financial regulations and standards, including Ind

AS/IFRS, the SARFAESI Act, 2002, and RBI's ARC Master Directions.

Exceptional leadership, communication, and analytical skills, with the ability

to engage Boards, regulators, and investors.Key Technical Skills

Financial Planning & Analysis: Proven expertise in budgeting, forecasting, and

financial modelling, including valuation of NPA portfolios and Security

Receipts.

Financial & Portfolio Systems: Proficiency with financial systems, ERP

software (e.g., SAP), portfolio/trust accounting tools, and advanced Excel;

familiarity with automation tools is advantageous.

Regulatory Knowledge: Robust understanding of RBI regulations for ARCs,

SARFAESI Act provisions, SEBI requirements for listed SRs, and applicable tax

and accounting standards.

📌 Head of Finance - BFSI (Mumbai)
🏢 Virtuous Advisors And Resources
📍 Mumbai