Key Responsibilities:
1. Financial Strategy & Planning:
• Assist the CFO in formulating financial strategies and long-term business plans to support growth objectives.
• Provide financial insights and recommendations to optimize profitability and cost efficiency.
• Develop and monitor KPIs and financial performance metrics for continuous improvement.
• Perform regular review and evaluation of key operational and financial data with business leaders, including root cause analysis and corrective action planning
. • Lead company forecasting and budgeting efforts, preparing financial summaries and reports for the executive team.
2. Cost Control & Financial Controlling:
• Lead cost accounting and financial control functions to ensure cost efficiency in manufacturing operations.
• Work closely with plant finance teams to analyze cost structures and identify improvement areas.
• Implement cost-saving measures and drive initiatives to enhance financial performance.
• Ensure accurate cost allocation and pricing strategies to maintain competitiveness.
• Benchmark cost processes and financial reports with best industry practices.
• Perform financial evaluation of new projects considering current and future economic & business scenarios.
3. Budgeting, Forecasting & Financial Reporting:
• Oversee the preparation and consolidation of budgets across all plants.
• Drive accurate forecasting of financials, including revenue, expenses, and cash flow.
• Ensure timely and accurate financial reporting as per regulatory and corporate requirements.
• Monitor financial variances and provide recommendations for corrective actions.
• Lead teams in preparing budgets by establishing schedules, collecting, analyzing, and consolidating financial data.
• Achieve budget objectives by scheduling expenditures, analyzing variances, and initiating corrective actions.
• Investigate and critique variances to budget or prior year performance, providing insights for improvement.
4. Accounts, Compliance & Audit:
• Ensure compliance with financial regulations, taxation laws, and corporate governance standards.
• Manage statutory and internal audits, ensuring adherence to accounting principles and internal controls
. • Work closely with auditors, tax consultants, and regulatory authorities for smooth financial operations.
• Oversee GST, income tax, and other statutory filings to maintain legal and financial compliance.
• Augment and monitor the department’s operations to ensure integrity, confidentiality, and security of financial information and plans.
5. Treasury, Working Capital & Risk Management:
• Monitor cash flow management, working capital, and treasury operations.
• Optimize funding strategies and banking relationships to ensure adequate liquidity.
• Assess and mitigate financial risks, ensuring robust risk management policies.
• Control two key constituents of working capital – inventory and receivables, including provisioning for any loss in value.
• Set a process for forecasting of material costs in collaboration with the purchase team.
• Ensure effective inventory valuation and monitor slow-moving & non-moving inventory, updating management with an action plan for utilization. 6. Standard Costing & Procurement Evaluation: • Review new product standard cost and discuss findings with purchase and R&D teams.
• Evaluate PO rates and map raw material price increases with indexation available in contracts.
• Conduct standard costing vs. actual costing analysis, including budget vs. actuals for manufacturing and product costs.
• Investigate cycle count variances and resolve issues proactively.
7. Leadership & Team Management:
• Lead the finance team across all plants, ensuring seamless coordination and efficiency.
• Develop and mentor finance professionals, fostering a high-performance culture.
• Act as a trusted advisor to business leaders on financial matters, supporting decision making.
• Develop and grow the finance team by initiating training activities, guidance, and coaching to optimize efficiency and effectiveness.