Manager Budgeting

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Role Description: Manager – Accounts Job Title

Manager – Budgeting & Costing

Function

Finance & Accounts

Role Purpose

To ensure management of costs, set up standard costs for SKUs, and analyze and report cost deviations.

Reporting To

Director

Location

Corporate

Education

M. Com, MBA (Finance)

Experience

8–10 years of relevant experience

Role Description – Responsibilities 1. Budgeting & Forecast (AOP)

• Prepare guidelines for AOP budgets considering internal and external factors
• Guide departments in preparing functional budgets
• Consolidate functional budgets into organizational budgets
• Present AOP to the Board and revise based on Board feedback
• Seek Board approval for AOP budgets
• Review cost centers, cost structures, and departmental documentation

2. Budgetary Control

• Monitor and review AOP performance monthly and half-yearly
• Prepare exception reports to track performance deviations
• Present AOP vs actuals in internal board meetings
• Revise budgets and seek Board approval as needed

3. Costing

• Provide input for product pricing and cost audit documentation (NRV, commission, discounts)
• Set standard costs for each SKU and in-house materials
• Create master data for new SKUs based on procurement/job work
• Plan activity to determine standard costs (labour hours, power, fuel, etc.)
• Review and release standard costs for all products
• Analyze process orders for efficiency and deviation
• Generate cost centre-wise expense reports and product/project variance analysis
• Check job work norms vs actual performance
• Process order settlements and analyze production variance across factories
• Ensure correct cost centre allocation for expenses
• Provide cost analysis reports and recommend corrective actions
• Conduct stock valuation including excise and freight
• Reconcile excise and production data
• Prepare documentation for cost audits

4. CAPEX Management

• Ensure CAPEX project settlement
• Maintain and update the fixed asset register (as per Schedule VI)
• Conduct physical verification and tagging of assets

5. Closing & Reporting

• Prepare SKU-wise contribution statements
• Perform overhead accounting and allocation
• Scrutinize overhead costs like electricity, travel, etc.
• Prepare MIS reports cost center-wise
• Generate management review reports

Assignment

• Develop policies and procedures for costing process
• Redesign key MIS reports

Key Performance Indicators

• Delays in preparation of costing reports – Monthly
• Errors in preparation of costing reports – Monthly
• Delays in preparation of MIS reports – Monthly
• Errors in preparation of MIS reports – Monthly
• Development of new MIS reports – Half-yearly
• Qualifications made by cost auditors – Half-yearly
• Number of cost reduction opportunities identified – Half-yearly

Additional Role Description – Responsibilities 1. Inputs for AOP

• Provide inputs considering internal and external business factors
• Present functional AOP to superiors for approval

2. Capital Structure Optimization

• Prepare long-term cash flow and capital requirement forecasts
• Implement Board-approved liquidity strategies
• Project and plan funding requirements
• Evaluate and arrange short-term and long-term funding
• Liaise with banks, FIs, capital markets
• Secure non-funding options (LCs, bank guarantees)
• Approve capital requirements and bank facilities
• Ensure timely repayment, disclosures, inspections
• Maintain operational banking relationships

3. Financial Risk Management

• Provide input for financial risk strategies and solutions
• Guide FOREX treasury on derivative and forward contracts

4. Working Capital Management

• Manage trade financing through supplier and buyer credit
• Negotiate credit limits and overdrafts with banks
• Monitor fund allocation and returns

5. Investor Relations

• Manage relationships and communication with investors and analysts
• Develop communication strategies for sensitive events
• Coordinate quarterly earnings calls
• Implement annual investor relations plan
• Represent company in investment conferences and press events
• Maintain investor and analyst databases
• Monitor market and regulatory environment
• Respond to investor queries promptly

6. Export Documentation

• Standardize Letter of Credit (LC) terms
• Draft exceptional clauses in LCs
• Scrutinize incoming LCs
• Monitor export realization with bank and sales team

7. Credit Rating Management

• Liaise with credit rating agencies for optimal rating documentation

8. Financial Performance Reporting

• Provide cash flow, investment, and risk performance data to the Board

9. Internal & External Audits

• Plan and manage audit schedules
• Provide audit documentation as required

Assignment

• Develop procedures for long- and short-term loan availing
• Ensure error-free export/import documentation (LCs, post-shipment, etc.)

Key Performance Indicators

• Response time to banks/FIs for reporting – Quarterly
• Debt-equity ratio – Half-yearly
• Change in bank/FI credit rating – Half-yearly
• Net working capital vs budget – Quarterly
• Interest coverage ratio – Half-yearly
• Deviation in cash flow forecast (actual vs budget) – Monthly
• Cost of capital vs planned – Half-yearly
• Yields on short-/long-term investments – Half-yearly
• Performance of bank terms/limits vs planned – Quarterly
  

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