Senior Manager - Regulatory and Commercial

Sourceo; Ahmedabad District; On-site; INR 1,500,000 - 2,100,000; Full time

Job summary

Sourceo is seeking a Senior Manager - Regulatory and Commercial to oversee revenue management, billing, and related regulatory processes. You will coordinate inputs for billing, issue invoices, monitor payments, and maintain invoicing data on government portals, ensuring timely responses to disputes and compliance with directives.

The role emphasizes portal management, MIS reporting, and liaison with internal teams and external authorities in the power sector.

Qualifications

• Bachelor's Degree in Finance or Business Administration required.
• Minimum 5 years of experience in billing, financial management, or a relevant commercial role within a corporate setting.
• Background in power and energy sector with exposure to commercial and regulatory processes pertaining to billing and payments preferred.

Responsibilities

• Manage the comprehensive management of revenue and ensure all billing activities align with SOPs for Power Sale and financial objectives.
• Collect information and inputs for billing, coordinating with internal and external stakeholders.
• Issue accurate and timely invoices to customers or power procurers.
• Monitor payments to ensure they are received by the due date.
• Maintain and update all invoicing information on the Ministry of Power portal and respond to disputes.
• Update the Payment Security Portal (PSA) and Praapti portal with necessary information and monitor portal communications.
• Prepare MIS reports detailing expected revenue, expenses per customer, due bills and collection targets.
• Draft replies for customer correspondence and ensure accurate entry of bills into SAP as payments are made.
• Provide data input to regulatory team for unresolved disputes and assist with tariff petitions.

Education

Bachelor's Degree in Finance/Business Administration

Job description

Senior Manager - Regulatory and Commercial

Manage the comprehensive management of revenue, ensuring all billing activities in accordance with the SOP for Power Sale align with organizational financial objectives.

Collect necessary information and inputs for billing, coordinating with internal and external stakeholders.

Issue accurate and timely invoices to customers or power procurers

Monitor payments to ensure they are received by the due date.

Maintain and update all invoicing information on the Ministry of Power portal, responding to any disputes raised by customers.

Continuously monitor replies and communications within the portal.

Verify customer information and address anomalies if any to prevent delays.

Payment Tracking and Dispute Resolution:

Proactively track payments and initiate letters of credit (LC) to encash funds when payments are delayed.

In the event of a dispute, ensure that customers pay 85% of the invoice amount as per contract, providing justification for the payment.

Manage stay orders from the regulatory committee, waiting for resolutions before proceeding with collections.

Communicate with banks regarding payment statuses, letter of credit (LC) issuances.

Ensure the original letter of credit (LC) value is restored within 7 days if utilized.

Portal Management:

Update the Payment Security Portal (PSA) and Praapti portal with necessary information. For e.g. letter of credit (LC) availability.

Monitor power curtailment actions by the System Operator as mandated by the Ministry of Power.

Document payment statuses and upload all bills to the Praapti portal, ensuring accurate and timely updates of procurer details.

Enforce restrictions on short-term power purchases for entities with outstanding payments beyond 75 days as recorded in the Praapti portal.

Interact with the state load dispatch center, central dispatch, and Ministry of Power as necessary, ensuring compliance with operational guidelines.

Financial Reporting and Reconciliation:

Prepare MIS reports detailing expected revenue, expenses for each customer, due bills, and collection targets, comparing actual receipts against targets.

Conduct quarterly or annual reconciliations of bills admitted, signed off, and payments made, reporting reconciliation status.

Draft replies for customer correspondence and ensure accurate entry of bills into the SAP system as payments are made.

Regulatory Support and Tariff Management:

Provide data input to the regulatory team for unresolved disputes and ongoing cases.

Apply for provisional tariffs if petitions are not filed in a timely manner and submit claims for the regulatory team to file petitions.

In cases where section 63 of the PPA applies, ensure the sharing of fuel costs and other expenses for reimbursement.

Key Stakeholders - Internal

• Finance Team
• Operations & Maintenance (O&M) Team
• Fuel Management Team
• Business Development (BD) Team
• ABEX Team

Key Stakeholders - External

• DISCOMs/Procurers
• Regulatory Authorities

Qualifications

Educational Qualification:

Bachelor's Degree (Finance, Business Administration, related fields)

Work Experience (Range of years):

Minimum 5 years of experience in billing, financial management, or a relevant commercial role within a corporate setting.

Preferred Industry:

Background in the power and energy sector with exposure to commercial and regulatory processes pertaining to billing and payments.