Financial Operations Specialist

1 day ago

Mumbai, Maharashtra, India beBeeInventory Full time ₹ 90,00,000 - ₹ 1,50,00,000

About the Role

This is a pivotal position overseeing the entire records-to-reports (R2R) process, ensuring accuracy and timeliness in inventory valuation, costing, and month-end closing.

The R2R Lead works closely with cross-functional teams to improve processes and automate reporting.

Main Responsibilities:

  • Inventory Valuation & Costing:
    • Oversight of batch costing, machine learning runs, and standard cost releases to ensure accurate COGS schedules and month-end variance calculations.
    • Validation of inventory valuation postings in SAP to maintain accuracy and compliance.
  • Inventory Reporting:
    • Preparation and review of material cost reports, ageing reports, net realizable value testing, and stock on hand analysis to ensure timely and accurate information.
    • Monthly reconciliations between STO, SAP GL, and costing systems, as well as FOC analysis to identify areas for improvement.
    • Management of material code approvals and maintenance of inventory control sheets to ensure seamless operations.
  • Month-End Closing:
    • Timely capitalization and closure of open AUC items to meet deadlines and ensure financial accuracy.
    • Coordination of month-end closing activities and reporting accuracy to support smooth operations.
  • Audit Support:
    • Facilitation of smooth audit closures by providing timely responses and requisite data to address auditor queries and ensure compliance with reporting standards.
  • Process Improvement Initiatives:
    • Leadership of automation projects such as SKU-level costing, ageing reports, and marketing collateral accounting to enhance efficiency and reduce manual efforts.
    • Implementation of system enhancements like auto-deletion flags for closed process orders to optimize processes.
  • Cross-Functional Collaboration:
    • Close collaboration with Plant, Costing, and IT teams to understand operational issues and develop solutions.
    • Development of SOPs and proper classification and backup of material costs to ensure transparency and compliance.

Focus Areas:

  • Accuracy in Inventory Valuation and Reporting
  • Timely Month-End and Audit Closures
  • Process Automation and System Improvements
  • Effective Use of SAP for R2R Activities
  • Strong Collaboration Across Finance and Operational Teams

Requirements:

Educational & Work Experience: CMA, 4 to 6 years of experience

Key Competencies | Skills:

  • Expertise in SAP FICO, especially in inventory valuation, costing, and month-end closing
  • Advanced Excel skills for financial reporting, reconciliations, and automation
  • In-depth knowledge of inventory accounting and reporting (machine learning runs, NRV testing, activity costing, etc.)
  • Experience in audit handling and compliance, including timely data submission and query resolution
  • Ability in process improvement and automation, including report automation and system enhancements
  • Team handling and cross-functional collaboration with Plant, IT, and Costing teams for smooth operations

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