Senior Factory Finance Executive

Division

Finance

Department

Operations Finance

Sub Department 1

Manufacturing Finance

Job Purpose

Manage finance related activities of Unit Capex Review/Capitalisation-decapitalisations.Review IL3 idea savings and drive saving & simplification proposals & ideas, review adhering of statutory compliance & controls like  Internal Financial controls/DOA, Support in budgeting /variance analysis ,Physical verification of stocks & Jobs done and post implementation reviews etc in order to ensure smooth business functioning and controls in adherence to compliances & to partner with site team in fulfilling operational and strategic agenda.  

Key Accountabilities (1/6)

1.Responsible for Site finance activities, preparation unit level Quality budget in alignment with Financial plan of Company , Support reviewing budget Vs. actuals and suggesting corrective action to ensure smooth functioning of business.

• Prepare reports, Capex/OPEX review/ variances analysis and recommend corrective measures to Unit/Site.
• AMC Review and monitoring, verifying service reports and timely GRNs.
• Support in Monthly review of Inventory for COPE/OOS, Provisioning.
• Product Profitability analysis, Variance Analysis.
• Product cost & yield review, Scrap Management Misc. scrap/ Solvent/ Granules, Solvent recovery.
• Review of reprocess and rework cost.
• Capacity utilisation and reason for underutilisation.
• Support Quality Budget vs. Actual analysis and Budget preparation.

Key Accountabilities (2/6)

2.Monitor arrangement of data / reports to the departments for insights and auditors.

• Provide for all the data and other requirements data/reports for decision making and timely action.
• Satisfactorily resolve queries raised by authorities / auditors.
• Provide supporting data, information and documents within timelines. Review CWIP and Support in Capitalisation/Decapitalisation.

Key Accountabilities (3/6)

3.Support financial planning by reviewing cost allocation and apportionment to various cost centres like QC and R&D to present true and fair view of accounts.

• Physical verification of Invoices/Jobs done on monthly basis to monitors control. Post implementation review of projects.
• Co-ordinate& consult technical teams to ensure timely updating of records, MIS and conclusion of audits& assessments.
• Review & Account cost centre wise consumptions and analysis to control cost.  

Key Accountabilities (4/6)

4.Ensure interdepartmental co-ordination by establishing communication across channels and depts. to maintain proper records, provide MIS and conclude audits.

• Establish robust communication channels across functions to support various initiatives to streamline processes, reduce costs and maintain operational efficiencies.
• Co-ordinate& consult technical teams to ensure timely updating of records, MIS and conclusion of audits& assessments.
• Co-ordinate for settlement of  advances, RGPs(Returnable Gate passes etc timely.

Key Accountabilities (5/6)

5.Business partnership across functions/units by leading initiatives on Cost Control, Value creation, Working Capital Optimization Compliances & generation of reports by ensuring adherence to policies and SOPs to achieve timely completion of assessments.  

• Drive OPEX reduction/ Capex review projects.
• Drive value creating projects with suitable ROI.
• Review & Drive plans on salvaging Slow moving stocks and improving stock quality.
• Drive action on CoPE reduction.  

Key Accountabilities (6/6)

6.Assessment of IL3 ideas from the portals, Review and prepare product profitability reports and review for improving productivity.

• Understanding & reviewing the savings ideas from the Portal and co-ordinating with user department, assess it with accuracy.
• Review and prepare product profitability report and consumption and rate variance review of products.

Major Challenges

• Stakeholder management is a big challenge as might be conflict of opinions. Proper communication is a mitigating factor
• Ability to respond to changes and demonstrate agility.
• Ensure timely reviews, reconciliations, BS hygiene and cash control
• Timely action of mail and delivery of report/data ask.

Key Interactions (1/2)

Internal

• Site functional teams e.g. Stores, production, HR, engineering, etc
• Central finance
• Central Mfg team
• Central Capex Team
• Taxation
• Costing

Key Interactions (2/2)

External

• External vendors

Key Decisions

Recommendations

• Month end provisioning.
• Spending on budgeted items at the Unit.
• Physical verifications of Invoices, Statutory & compliance related spends & decisions, Internal audit review to avoid audit observation, physical verification of assets/stocks on sample basis.

Education Qualification

Qualified CMA /CA 

Relevant Work Experience

Candidate with 0-4 years of work experience preferred.