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
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• PRINCIPAL ACCOUNTABILITIES
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Financial Planning and Budgeting
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• Participate in the plant planning process and provide accurate financial information to plant
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management team to enable decision making and achievement of plant's financial objectives
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- 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
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- Undertake detailed item by item analysis and assess impact of variance on overall budget and
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expenses, and for difference in volume projections evaluate impact on cost / budgets
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- Monitor budget utilization and check expense PO to ensure adherence to with laid down budget, else explore justifications for expense
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- For annual budgeting at given volume, prepare and consolidate budgets across variable and fixed heads, and as per inputs from various stakeholders.
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Cash flow management
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- 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
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- Prepare plan for funding of capex requirements; Evaluate cash flow positions and plan capex funding accordingly
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Capex management
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• Prepare capex forecast at the beginning of the year incorporating the requirements of planned
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projects
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- On a monthly basis review actual capex requirements/ spends, and adjust the PnL accordingly
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- Review individual capex projects and evaluate period of return, IRR, etc. for the planned capex
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Internal audits
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• Collaborate with Internal Audit team to identify risks and create risk management frameworks
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specific to the plant & ensure implementation across the plant
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• Identify and implement process improvement initiatives to establish robust internal controls and
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enhance efficiency/ effectiveness of financial processes
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• Coordinate with Internal Audit team to provide all necessary data, respond to queries to ensure
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audits are conducted timely and drive corrective action plan within plant
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Cost Control
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- Apply cost accounting / management principles for product costing, quotations and new products incompliance with the BU plant costing cell
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- Generate and share ideas on cost control measures and initiatives at the plant such as reduction of ashift
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- 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
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- Discuss and recommend transfer pricing systems and evaluate effect of transfer prices
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- Analyze profitability, productivity and costs within the plant and provide feedback and reports to the Plant Head and the BU Financial Controller.
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Team development
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- Participate in recruitment process to identify the right talent across positions within the team
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- Establish individual performance expectations and regularly review individual performance of the
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team
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- Identify and create development opportunities for team members to enhance functional knowledge; Update the team on regulatory and statutory changes
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- Monitor daily sales and discuss with plant head / cluster head for any shortfall and recovery plan
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- Review expenses booking and headcount deployment / CL cost impact with plant head / Cluster head
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- Discuss with cross functional team on critical parameters to achieve the month end Financial results
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