Hod - plant finance & accounts

HOD – FINANCE & ACCOUNTS | PLANT FINANCE

Position: Head of Department – Finance & Accounts

Location: Plant Location – Tirunelveli

Reporting To: CFO / Finance Director / Business Head

Experience: 10+ Years

Qualification: CA / CMA (ICWA)

Industry: Manufacturing

SAP Experience: Mandatory

ABOUT THE ROLE

We are looking for an experienced HOD – Finance & Accounts to lead the complete Finance & Accounts function of a manufacturing plant.

The role will be responsible for Plant Finance, Accounting, Costing, Inventory, MIS, Budgeting, Working Capital, Statutory Compliance, Audit and Internal Controls. The candidate will work closely with the Plant Head and Operations team as a Finance Business Partner, providing financial insights to improve profitability, cost efficiency and working capital.

The ideal candidate should have strong hands-on experience in manufacturing/plant finance, including product costing, inventory management, variance analysis and financial control.

KEY RESPONSIBILITIES1. Plant Finance & Accounts

Lead the complete Finance & Accounts function of the plant, ensuring accurate and timely accounting and reporting. Manage month-end/year-end closing, General Ledger, AP/AR, provisions, accruals, fixed assets and reconciliations. Ensure compliance with accounting policies, internal controls and company processes. Review Plant P& L, Balance Sheet and Cash Flow and provide financial insights to management.

2. Costing & Manufacturing Finance

Manage product costing, standard/actual costing and manufacturing cost analysis. Analyse material, labour, power/fuel and factory overhead costs. Conduct budget vs. actual and standard vs. actual variance analysis. Monitor production yield, wastage, scrap and conversion costs. Identify and drive opportunities for cost reduction and operational efficiency. Support product pricing and profitability analysis.

3. Inventory Management & Control

Take ownership of financial control and accounting of Raw Materials, WIP, Finished Goods, Stores & Spares and Consumables. Ensure accurate inventory valuation and reconciliation between physical and book stock. Monitor inventory ageing, slow/non-moving and obsolete inventory. Analyse inventory levels and turnover and drive inventory optimisation. Oversee periodic physical verification / stock audits and closure of variances. Monitor scrap accounting, valuation and disposal.

4. Plant MIS & Business Performance

Prepare and review monthly Plant MIS and management dashboards. Track key financial and operational KPIs including revenue, production, material consumption, manufacturing costs, EBITDA/margins and working capital. Provide meaningful variance analysis and actionable recommendations to the Plant Head/CFO. Partner with Production, Procurement, Stores, Supply Chain and other functions to improve financial performance.

5. Budgeting & Forecasting

Lead the annual Plant Budget and Business Planning process. Prepare and monitor budgets for production, material, manpower, overheads, CAPEX and working capital. Review monthly budget vs. actual performance and drive corrective actions. Prepare forecasts and support management in financial planning and decision-making.

6. Working Capital Management

Monitor and improve inventory, receivables and payables to optimise working capital. Track inventory days, receivable days, payable days and cash conversion cycle. Identify opportunities to improve cash flows and reduce working capital requirements.

7. CAPEX & Fixed Assets

Monitor plant CAPEX against approved budgets and business plans. Review financial justification for major capital expenditure. Ensure proper capitalisation, accounting and physical verification of fixed assets. Support ROI/payback analysis for major investments.

8. Statutory Compliance & Audit

Ensure timely compliance with applicable GST, TDS, Income Tax and other statutory requirements in coordination with Corporate Finance/Tax teams. Lead/co-ordinate Statutory Audit, Internal Audit, Tax Audit, Cost Audit and Stock Audit, wherever applicable. Ensure timely resolution and closure of audit observations.

9. Internal Controls & Process Improvement

Ensure robust internal controls across Procure-to-Pay, Inventory, Production, Sales-to-Cash, Payments and Fixed Assets. Identify control gaps, financial leakages and process inefficiencies. Drive process improvements, automation and ERP-based controls.

10. Team Leadership

Lead, mentor and develop the Plant Finance & Accounts team. Ensure effective delegation, accountability and timely completion of Finance activities. Establish strong financial discipline and control culture within the plant.

KEY DELIVERABLES / KPIs

Timely and accurate monthly financial closing and MIS Accurate product costing and manufacturing cost analysis Inventory accuracy and reduction in slow/non-moving inventory Improvement in inventory turnover and working capital Effective budgetary control and variance management Cost reduction and profitability improvement initiatives Strong internal controls and timely audit closure Statutory compliance within prescribed timelines Effective CAPEX and fixed asset management Quality and timeliness of management reporting

QUALIFICATION & EXPERIENCE

Qualified Chartered Accountant (CA) or Cost & Management Accountant (CMA/ICWA). 10+ years of relevant post-qualification experience, preferably in a manufacturing organisation. Strong hands-on experience in Plant/Factory Finance & Accounts is essential. Experience in Costing, Inventory, MIS, Budgeting, Working Capital and Internal Controls is mandatory/preferred. Experience in managing a Finance & Accounts team and working closely with Plant/Operations leadership.

DESIRED SKILLS & COMPETENCIES

Technical:

Plant / Manufacturing Finance Product & Cost Accounting Inventory Management & Accounting Budgeting & Variance Analysis Working Capital Management MIS & Financial Analysis CAPEX & Fixed Asset Management Internal Controls & Audit GST / TDS & Statutory Compliance SAP / ERP and Advanced MS Excel

Behavioural:

Strong analytical and commercial orientation Leadership and team management Business partnering mindset Strong communication and stakeholder management Problem-solving and decision-making ability High integrity, ownership and accountability