
Senior Financial Specialist
9 hours ago
The role of the Financial Manager involves overseeing financial management and reporting for manufacturing operations. This position requires a thorough understanding of manufacturing processes, cost accounting, and financial analysis to ensure accurate financial planning, budgeting, and performance evaluation.
Key Responsibilities- Develop and present timely and accurate financial statements and reports.
- Analyze manufacturing costs, variances, and production performance.
- Conduct variance analysis, including material, labor, and overhead variances.
- Create annual budgets for manufacturing operations.
- Optimize inventory levels and control receipts and physical verification.
- Develop and maintain financial models to support forecasting and long-term financial planning.
- Verify, approve, review, and manage the collection and payment of Accounts Receivable (AR) and Accounts Payable (AP).
- Handle inter-company transactions, inter-company settlements, and reconciliations with headquarters and subsidiaries.
- Implement and maintain robust cost accounting systems and processes.
- Analyze cost structures and identify opportunities for cost reduction and efficiency improvements.
- Monitor and control manufacturing overhead costs, ensuring accurate allocation to products and processes.
- Collaborate with production and operations teams to understand financial implications of manufacturing activities.
- Provide financial insights and recommendations to support operational decision-making.
- Utilize job order costing and process costing techniques to ensure accurate product costing.
- Act as a point of contact for external auditors.
- Coordinate audit activities across all subsidiaries, ensuring timely and complete submission of audit schedules and reports.
- Address audit queries in a timely and efficient manner.
- Perform bank reconciliations and ensure accurate records of all cash transactions.
- Process international payments to foreign vendors.
- Maintain documentation and relationships with banking institutions.
- Liaise with external auditors and ROC consultants to ensure timely completion of statutory audit and ROC filings.
- Maintain and update the Fixed Asset Register (FAR); verify capitalizations, disposals, and depreciation schedules.
- Support in drafting and finalizing financial statements and ensure timely submission to auditors and the Group CFO.
- Oversee GST compliance and financial operations.
- Comply with TDS, tax laws & ROC as per act.
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