Head - Plant Finance - Manufacturing Firm - CA/CMA

Qualification : CMA / CA

Purpose:

The incumbent would partner with Site leadership enabling business to achieve its objective. Responsible for Plant Product Costing, Financial Planning & Controlling functions. Support site Head to manage plant P&L and improve Plant financials through analysis and interpretation of trends, preparation of findings and specific recommendations with the current status, in achieving the objectives through improved Productivity of all resources. Ensure CIP and Opex saving targets are met. Ensure good health of books of accounts at transaction level within the overall guidelines of GMO Finance while adhering to the Organisation's Policies, Procedures and Statute.

Key responsibilities:

Business Partnering:

- Partnering with the Site head and leadership team in achieving the overall business goals

- Collaborate with front end business teams & Plant CFTs to achieve the targeted revenues and T-OE.

- Support decision making at site level through timely information, financial evaluation and insights

- Review plant P&L and discuss with plant head on achieving / improving P&L targets.

- Discuss Inventory, Opex status & savings achievements with SLT, highlighting the gaps in order to improve the overall profitability

- Aid Capex decisions through financial evaluation. Track progress and achievement of Capex objectives

- Understand and track cost movements and ensure that plant achieves the TVC savings targets

- Co-ordinate with Plant & IPDO teams for CIP Programs and track the execution

- Ensure robust governance of all financial KPI's relating to the plant

- Enable business with relevant financial information and insights to drive Plant Financials in the mid to long-term

- Facilitate discussion in forums like plant MRM with financial information, presentation and Metrics

Controlling & Period Closure:

- Collection of inputs for Opex provisions from the respective HODs & Others.

- Analyse relevance and completeness of provisions, ensuring parking of entries

- Review with Cluster Finance Head for Posting & Reversal of entries

- Ensuring accounting accuracy of transactions.

- Preparation and sign off of FSCP Documentation

- Review and report exceptions in Plant relevant Balance Sheet GLs

- Tracking and closure of overdue RGPs & GRNs

Costing & Inventory :

- Ensure correct product costing and inventory valuation.

- Overhead rate updation and ensuring correct absorption.

- Prepare RMC Spreads and variance analysis

- Overhead rate computation on quarterly basis for uploading into SAP

- ML's and Spent rate valuation on quarterly basis for uploading to SAP

- Inventory validation, NRV calculation and rate correction post actual costing run

- Plant inventory ageing analysis and circulation of MIS to Plant Teams

- Support Cluster Head, GMO Costing Team with necessary Inputs

- Reduce the difference between Standard Vs Actual Costs

- Drive the yield savings targets along with plan OE team

- Conducting perpetual inventory checks

- Tracking and closure of Open Process Orders and STOs

Operating Expenses review, MIS & Control:

- Tracking and reporting operating expenses in line with Budget and control.

- Monthly analytical review of Opex with insights and reasons for deviations(if any) between

- Relevant comparable periods.

- Budget Vs Actual.

- Preparation & Circulation of Plant MIS to Plant Heads and SLTs.

- Facilitate Cluster Head & GMO Planning Team with inputs and insights

- Cost sensitization through various discussions with Plant head and SLTs

- Preparation and circulation of Utilities MIS.

Formulating annual budget and latest estimates:

- Opex Budget for the plant

- Conduct reviews with Plant Head and SLTs on plan spent.

- Identify, Capture and Accommodate exceptions

- Incorporate various OE Savings in the Plan

- Ensure to submit comprehensive budgets from the Plant

- RMC Spreads

- Data compilation and discussion with Operations teams on yields and CCs

- Coordinate with GMO Costing Team on the input prices

- Circulation of Weekly Opex / Latest Estimates.

- Weekly tracking and reporting of Opex to GMO Planning.

- Identify, Capture and Accommodate probable exceptions.

Audits & Compliance:

- Statutory Audit : Assisting for / providing information as required by auditors

- SOX & Internal Audit : Support for Internal / Operations audits, Management testing's and walkthroughs for SOX at the Plant

- Cost Audit : Completion of Cost Audit as per the timelines to comply with statutory requirement

- Stock Audit : Ensure quarterly Stock audits, discuss with Plant Teams and closure of differences between the books and physical inventory as per the DoA

- Review and facilitate execution of legal documents such as SLAs

- Support Tax Team in filing the VAT Returns etc., and complete the assessments

Oversight on Financial Transactions - Invoice Verification:

- Review and oversight of the work done by Pre-Audit & Technical verification work.

- Spent and scrap disposals - Verification of invoices with approved price list and track through MIS

- Review authenticity of vendor claims through work verification

- Verify relevant defined purchase process adherence

- Review and facilitate MIS and trend analysis & Circulation to Plant Teams

Operational Excellence review:

- Drive the OE projects at plant along with plant CFTs. Act as a Finance SPOC and providing insightful information to the plant team for achieving the project goals

- Validation of OE savings submitted by Plant teams

- Providing inputs and support with data for generating ideas and evaluation of ideas execution