Head Finanace - Plant

Varroc · India

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 strong 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