JOB PURPOSE:

Lead finance function for the assigned plant; Plan and deliver financial planning & budgeting, cash flow management and capex management for the plant; Provide information and coordinate for completion of internal audits, and ensure appropriate implementation of action plans; Analyze and recommend cost controlinitiatives to ensure plant profitability

• PRINCIPAL ACCOUNTABILITIES

Financial Planning and Budgeting

- Participate in the plant planning process and provide accurate financial information to plant management team to enable decision making and achievement of plant’s financial objectives
- Based on customer indents for next month demand, prepare forecast/ monthly rolling plan, prepare forecast of income statement and balance sheet items along with Plant Head for the assigned plant
- Undertake detailed item by item analysis and assess impact of variance on overall budget and expenses, and for difference in volume projections evaluate impact on cost / budgets
- Monitor budget utilization and check expense PO to ensure adherence to with laid down budget, else explore justifications for expense
- For annual budgeting at given volume, prepare and consolidate budgets across variable and fixed heads, and as per inputs from various stakeholders.

Cash flow management

- At month end, prepare cash flow statements for the plant based on actual current month cash flows; Also, prepare a forecasted cash flow statement for the next month
- Prepare plan for funding of capex requirements; Evaluate cash flow positions and plan capex funding accordingly

Capex management

- Prepare capex forecast at the beginning of the year incorporating the requirements of planned projects
- On a monthly basis review actual capex requirements/ spends, and adjust the PnL accordingly
- Review individual capex projects and evaluate period of return, IRR, etc. for the planned capex

Internal audits





- Collaborate with Internal Audit team to identify risks and create risk management frameworks specific to the plant & ensure implementation across the plant
- Identify and implement process improvement initiatives to establish solid internal controls and enhance efficiency/ effectiveness of financial processes
- Coordinate with Internal Audit team to provide all necessary data, respond to queries to ensure audits are conducted timely and drive corrective action plan within plant

Cost Control

- Apply cost accounting / management principles for product costing, quotations and new products incompliance with the BU plant costing cell
- Generate and share ideas on cost control measures and initiatives at the plant such as reduction of ashift
- Analyze product and segment wise profitability, especially for products posing a challenge; Deep dive into elements and cost drivers such as BOM, cost impact of SOPs, etc.; Build scenarios on cost control based on possibilities and opportunities
- Discuss and recommend transfer pricing systems and evaluate effect of transfer prices
- Analyze profitability, productivity and costs within the plant and provide feedback and reports to the Plant Head and the BU Financial Controller.

Team development

- Participate in recruitment process to identify the right talent across positions within the team
- Establish individual performance expectations and regularly review individual performance of the team
- Identify and create development opportunities for team members to enhance functional knowledge; Update the team on regulatory and statutory changes
- Monitor daily sales and discuss with plant head / cluster head for any shortfall and recovery plan
- Review expenses booking and headcount deployment / CL cost impact with plant head / Cluster head
- Discuss with cross functional team on critical parameters to achieve the month end Financial results

📌 Head Finanace - Plant (Aurangabad)
🏢 Varroc
📍 Aurangabad