Senior Factory Finance Executive

7 hours ago

Indore, Madhya Pradesh, India Cipla Full time

Division
Finance

Department
Operations Finance

Sub Department 1
Manufacturing Finance

Job Purpose
Responsible for financial controls for Greenfield projects at Indore site (New MDI project and SIP Respule project) along with Capex accounting and controls for Indore plant.

Key Accountabilities (1/4)

  • Green Field Projects (Unit-V & SIP respule project)
  • Managing end to end Financial and control aspect related to Project operation, ensuring compliance with all legal requirement, adhering to allocated budget, and meeting designated timelines.
  • Finalise Legal Agreement along with payment terms & recovery process (Commercial terms)
  • Cement & Steel Reconciliation on periodic basis with help of Auditors
  • Project related BG tracker & renewal
  • Phase wise Civil Payment tracker and Project related CER tracker
  • Ensuring periodic checking of all gate controls at site, including verification of material inward/outward movements, validation of supporting documents, Monitoring contractor/labour entries etc.
  • Detailed project related discussion with the PMC team for planning, Coordination and timely execution.

Key Accountabilities (2/4)

  • Manage Capex Activities of Indore Manufacturing
  • Evaluation and Approval of Capex Expenditure Requisitions (CERs)
  • IO Release / Value Increase in SAP
  • Settlement of AUC (Asset under Construction) GL
  • CWIP Tracking and review
  • Capitalization of Asset
  • Approval of Asset Disposal/ Transfer (ADF/TF) Form and share historical Data/Invoice
  • Asset sale account to be settled and make zero
  • Asset De capitalization / Accounting
  • Tracker - Profit / Loss on sale of Asset
  • Inter Company Sales Order Review – Asset
  • Tracker for the status of on-going projects
  • Capex Data / MIS for Capex
  • PLI Scheme activities like Asset Identification, Batch details, BMR/Document, Chartered Engineer Certification etc
  • Fixed Asset Verification and CARO Compliance
  • Maintenance of Capex DOA in CER
  • Capex Advance Review
  • BSR for Capex
  • Capex Budgeting Activities
  • APR Data for Site Custom

Key Accountabilities (3/4)

  • Business Partnering for Unit Assigned
  • Evaluation and Approval of Purchase Requisitions (PRs) and Capex Expenditure Requisitions (CERs)
  • Support and coordination with FSS for Payment
  • Coordination for other requirements like Inventory, WIP, Audit etc (SOS)

Key Accountabilities (4/4)

  • Other Activities
  • Prepaid JV and Schedule Preparation
  • Verification of Measurement Sheet and Invoice for Engineering Control

Major Challenges

  • Cross functional alignment w.r.t agreement and vendor coordination, which is being coordinated through regular meetings
  • Ensuring all Running bills are checked and validated by PMC and external auditors

Key Interactions (1/2)
Internal

  • Site functional teams e.g. Stores, production, HR, engineering, etc
  • Central Mfg team
  • Central Capex Team
  • Taxation
  • Costing
  • Central accounting

Key Interactions (2/2)
External
External vendors

Key Decisions (1/2)
Decisions

  • Payment to vendor as per timelines
  • BG tracker and ask for revised BG in case of near expiration
  • Agreement reviews and changes in Commercial terms

Key Decisions (2/2)
Recommendations

  • Delay in payment by FSS for escalation
  • Vendor not responding on BG expiration for escalation
  • Misalignment with Purchase and other stakeholders for Commercial terms in Agreement

Education Qualification
Semi Qualified CA/CA – inter

Relevant Work Experience
4-8 years of work experience in Pharma or other manufacturing industry.

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