Plant Finance

2 weeks ago

Delhi Faridabad NCR Noida, India Orient Electric Full time ₹ 6,00,000 - ₹ 18,00,000 per year

Job Position: Manager Plant Finance

Location: Faridabad (Delhi NCR)

Qualification: CA

Experience: 3-5 Years

Plant Finance Lead will be responsible for managing all aspects of plant finance operations, including product costing, month-end book closing, inventory, cost controls and fixed assets management, and ensuring robust internal controls in compliance with corporate policies and statutory regulations.

Key Responsibilities:

1. Costing & Product Cost Analysis

  • Maintain and update standard cost systems for products, materials, and processes.
  • SAP BOM Masters updates
  • Analyze variances (standard vs actual costs), production efficiency, and yield losses.
  • Support pricing, budgeting, and profitability analysis.
  • Conduct cost simulations and impact analyses for new products or process changes.

2. Monthly Book Closing

  • Ensure accurate and timely plant-related financial entries during month-end close.
  • Reconcile cost of goods manufactured (COGM), COGS, and plant overheads.
  • Coordinate with corporate finance for month-end reporting, journal entries, and accruals.
  • Prepare monthly financial reports with plant-level P&L and variance explanations.

3. Inventory Management

  • Oversee physical inventory counts, cycle counting, and reconciliation.
  • Analyse inventory ageing, slow-moving and obsolete stock, and provision requirements.
  • Ensure proper valuation of inventory including WIP and FG at standard cost.
  • Monitor and control inventory transactions in ERP and resolve discrepancies.

4. Fixed Assets Management

  • Maintain fixed asset register for the plant, including tagging and tracking.
  • Monitor capitalization of assets, depreciation, and asset retirements, CAPEX ROI.
  • Coordinate with engineering and operations teams for asset movements and projects.
  • Ensure compliance with capitalization policy and audit requirements.

5. Plant Financial Controls

  • Implement and monitor internal controls in procurement, stores, and production.
  • Review plant expenses, approvals, and compliance with budgetary controls.
  • Support internal and external audit requirements with documentation and analysis.
  • Identify control weaknesses and recommend process improvements.

6. Budgeting & Forecasting Support

  • Assist in preparation of annual plant budgets and rolling forecasts.
  • Provide analytical support for cost reduction initiatives and operational efficiency.
  • Participate in variance analysis between actual and budgeted costs.

Required Qualifications and Skills:

  • Education: CA (Finance) or equivalent.
  • Experience: 3-5 years of experience in plant finance / manufacturing finance.

  • Technical Skills:

  • Strong knowledge of standard costing, BOM, routings.

  • Proficiency in ERP systems-SAP (Costing Module, FICO, MM Modules).

  • Advanced Excel, PowerPoint, and financial modeling.

  • Soft Skills:

  • Strong analytical and problem-solving ability.

  • Good communication and coordination with cross-functional teams.
  • High attention to detail and commitment to deadlines.

Preferred Attributes:

  • Experience in a manufacturing plant environment.
  • Knowledge of lean manufacturing, Six Sigma, or process improvement initiatives will be additional advantage.
  • Familiarity with IFRS/GAAP and local statutory requirements.

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