Plant Finance Head - Manufacturing

Plant Finance Head

Qualification : CA / CMA / MBA-Finance from reputed University/School.

Experience : 8+ years of working experience. Manufacturing (plant) experience is MUST.

Key responsibilities :

Formulating Exp budget and Latest estimates :

- Identification of areas which can be automated or simplified to generate faster and improved insights.

- Annual exp budget formulation for plant

- Discussion with plant head and respective dept heads regarding plan of spent.

- Identify, Capture and Accommodate exceptions

- Ensure completeness of budget and scope of budget.

- Formulation of Latest Estimates.

- Exp Trend analysis.

- Identify, Capture and Accommodate probable exceptions.

- Review and finalization(at plant level) with FTO controlling team

- Ensuring successful month end closure of the books

- Provisional Information collection through confirmation mails from relevant depts as input.

- Analysis relevance and completeness of above information, Accumulating provisions , ensuring postings and reversals with controlling team.

- Documentation of all entries posted.

- Ensuring accounting accuracy of transactions.

- Ensuring inventory Valuation with Key observations.

Operating Exp, Inventory review, MIS , Control :

- Tracking of operating exp incurrence with in the plant as a continuous exercise/activity as part of control.

- Monthly analytical review of 'spent' with insight and reasons of deviations(if any) between - Relevant comparable periods; Budget Vs Actual; COPE, Yield

- Floating plant exp MIS to controlling/planning team to form base of SBU MIS.

- Tracking need and effectiveness of expense to ensure/ report realization of "VFM" i.e. (Value For Money)

- Cost sensitization with in the plant through discussions with Plant head / respective dept heads/ area of exp' owners.

- Preparing Inventory aging and updating to concern for cleaning if any un usable stocks.

- Preparing RMC spreads and identifying favourable/Unfavourable compare with Plan

- Tracking RGPs, pending GRNs, ACRs etc

Business Performance :

- Review of latest estimates on monthly basis (Opex, CoPE, Material Cost).

- Analysing the reasons for variance in estimates & highlighting the same for any possible correction.

- Provide future probable Inventory hit and track against Plan.

- Oversight on Financial Transactions - Invoice Verification

- Need of exp / transaction

- Verify amount/ quantity of work done / Scope of work.

- Ensuring authenticity of vendor claims throgh work verification.

- Verify adequacy of documentation and DOA.

- Verify relevant defined purchase process adherence.

Compliance :

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

Internal Audit : Support for IA exercise in plant, Track and ensure closure of open observations.

- Track non-compliance (Finance/Non Finance)

- Review and facilitation of legal documents such as Agreements.

- Ensure SEZ compliances, provide data to NSSO on quarterly basis

Process Control Review :

- Ensure set process notes/SOPs being followed and identify control gaps.

- Track DoA Violations

- Develop and review process notes in coordination with central finance team