Head - Plant Finance

Employer : Listed Automotive Company

Role. : Head Finance-Plant

Job Location : Sriperumbudur, Chennai

Qualification : (7yrs+ - MBA/ICWA/CA)

Job Description:

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 in compliance with the BU plant costing cell

- Generate and share ideas on cost control measures and initiatives at the plant such as reduction of a shift

- 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.