Head finanace - plant

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 Pn L 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