Head of Plant Finance and Accounts

2 days ago

Madurai Thoothukudi Tirunelveli, India Talisman Hr Solutions Full time

ole Description

The Head of Finance & Accounts will lead the end-to-end finance and accounting function at the plant, ensuring strong financial control, compliance, cost optimization, and timely reporting to Functionally CFO and Administratively to Unit Head.

Responsibilities

Financial Management & Reporting

Oversee plant-level finance operations: general ledger, accounts payable/receivable, costing, and payroll.

Drive compliance with Indian Accounting Standards (Ind-AS) and company policies.

Ensure timely closure of books of accounts every month/quarter/year.

Deliver timely & accurate MIS reports with budget variance analysis to HO.

Maintain accurate records in SAP with high data integrity.

Budgeting & Cost Control

Regular monitoring and review of CAPEX & OPEX budgets.

Drive plant-level budgeting, forecasting, and financial planning.

Standardize unit rates for contract services through a special committee.

Collaborate with HoD Commercial for rates negotiation with vendors of major raw materials and contract services to reduce costs.

Costing & Profitability Management

Lead the product costing process including standard costing, actual costing, and variance analysis.

Monitor RM, PM, utilities, and overhead costs and ensure cost optimization.

Review BOMs, routing, labor hours, overhead absorption, and cost allocation.

Conduct cost audits and lead cost improvement initiatives.

Analyze contribution margins, yield losses, and process efficiencies.

Compliance & Audit

Ensure timely payment of statutory dues (PF, ESI, GST, TDS, etc.) and filing of all related returns.

Actively manage plant-level compliance with Companies Act, Direct/Indirect taxes.

Ensure effective implementation of internal audit recommendations and closure of quarterly statutory audit observations.

Handle statutory, internal, cost, and GST audits seamlessly.

Insurance & Risk Management

Ensure there is no over/under coverage of insurance for materials, plant & machinery, equipment, and project erection.

Participate actively in insurance claim process under IAR and/or LOP policies.

Treasury & Working Capital Management

Manage plant-level treasury operations, cash flow, vendor payments, and bank coordination.

Optimize working capital (receivables, payables, and inventory) in alignment with operations.

Trust & Special Responsibilities

Act as Trustee Exempted DCW PF Trust (Sahupuram) and oversee PF Trust administration.

Act as Trustee KHSS and manage KHSS financial administration.

Leadership & Business Partnering

Lead, mentor, and develop the plant finance & accounts team.

Partner with plant leadership, operations, and supply chain for cost optimization and efficiency.

Serve as the key financial link between the plant and CFO/HO.

Qualifications

  • Chartered Accountant (CA)
  • 18-20 years of post qualification experience with minimum 10 years in a leadership role
  • Strong exposure to manufacturing/chemical industry plant finance. Worked with a multi-product plant.
  • Proven track record in costing, CAPEX/OPEX monitoring, compliance, treasury, and vendor negotiations.
  • SAP (FI/CO module) experience mandatory.

Experience in handling PF Trust/KHSS or similar trust financial administration preferred.

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