Plant Finance Manager

Roles & Responsibilities:

Financial Planning and Financial Reporting:

1. Prepare and analyze budgets, forecasts, and financial reports to support decision-making processes.

2. Ensure timely and accurate financial reporting in compliance with regulatory requirements and internal guidelines. 3. Monitor and control operating costs, analyzing variances between budgeted and actual figures, and identifying areas for cost reduction.

4. Identify financial risks and implement strategies to mitigate them, ensuring compliance with financial regulations and best practices.

5. Oversee inventory valuation and reconcile discrepancies, ensuring proper accounting of raw materials and finished goods.

6. Responsible for overall financial operations at the factory including invoicing, AR, AP, General Accounting, Product Costing, Inventory Valuation & Controls, MIS & reporting etc.

7. Preparation of Plant P&L and other MIS reports, as may be required by the management from time to time.

Collaboration and Performance Metrics:

1. Collaborate with plant operations, supply chain, and other departments to align financial objectives with operational goals.

2. Develop and track key performance indicators (KPIs) to assess financial performance and operational efficiency.

3. Weekly review of advance balance, monthly review & reconciliation of accounts payable balances. Identifying and addressing the irregularities promptly. 

Process Improvement:

1. Identify opportunities for process improvements in financial workflows and systems to enhance productivity and accuracy.

2. Ensuring timely & correct vendor invoice(s) booking and payments, PO approvals etc. 3. Ensuring timely and correct invoicing, GRN movements, E-way bills preparation.

4. Weekly review of advance balance, monthly review & reconciliation of accounts payable balances. Identifying and addressing the irregularities promptly.

5. Ensuring budgetary controls at the plant level. 6. Strong knowledge of taxation – both direct and indirect. Ensuring timely compliances and tax management.

Team Leadership:

1. Manage and mentor finance staff, fostering professional development and ensuring high performance within the finance team.

2. Finance business partner to Plant Head and Plant cross functional team.

3. Responsible for month-end financial closing and preparation of necessary financial schedules, workings, provisions etc.

4. Responsible for driving automation and simplification across various financial and operational processes.

Qualifications:

• Education: Bachelor’s degree in Finance, Accounting, or related field; a Master’s degree or CA is a plus.
• Experience: 10+ years of experience in finance or accounting, with a significant portion in manufacturing or plant finance roles.
• Skills: Strong analytical skills, proficiency in financial modeling and forecasting, excellent communication and interpersonal skills, and experience with ERP systems. Proficiency in SAP is a must requirement.
• Knowledge: Understanding of cost accounting, financial reporting standards, and inventory management principles. High proficiency in MS office and MS Excel. Ability to manage multiple tasks and adapt to a changing, fast-paced environment. Strong knowledge of taxation – both direct and indirect. Ensuring timely compliances and tax management.