Job Seeker
CA, with 1-2 years of exp., as a Team Member Finance, at a Manufacturing Co., Cheyyar, Chamrajanagar, Ludhiana, Panipat and Mahad.

Manufacturing Co.

year_icon   1 - 2 Years

year_icon   0.0 Lacs - 0.0 Lacs

year_icon    Haryanaother, Tamilnadu-other, Panipat

year_icon   Manufacturing

year_icon    Chartered Accountant

17 May 2022

Job description

Position/ Job Title

FLO Finance Site

Location

 Cheyyar, Tamilnadu & Panipat, Haryana

Reporting To (Position)

Lead Finance – Site

1) Job Purpose –

Drive annual P&B exercise, analyze Plant MIS and provide inputs to the group central finance functions and plant management team for critical business value drivers, cash flow analysis along with thorough variance analysis for proper evaluation as early warning signals.

 

Plan, organise and control Working Capital elements, drive the project capex and fixed asset management as per corporate policy and process, manage product costing and identify cost saving measures, facilitate internal and external audit, and implementation of audit observations at plant level. 

  

To strengthen and streamline the internal systems and ensure compliance of the policies at unit level helping to mitigate the risk and control system involved thereby increasing efficiency and effectiveness.

 

2) Job Context & Major Challenges

What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone? 

Job Context:

 

Major Challenges: 

  1. Getting plant information in timely manner by seamless coordination with several unit level functions to ensure timely and accurate reporting as well as interaction for cause-effect analysis, Scenario Analysis and P&B.  
  2. It requires regular monitoring of various initiatives taken by business, taking a 360-degree view and incorporating all aspects viz. accounting treatment, tax implications, prospects etc
  3. Ensure continuous monitoring of activities to achieve cost control and cost reduction.

 

 

3) Principal Accountabilities

 

Accountability

Supporting Actions

MIS and Annual P&B exercise Coordinate, implement & monitor systems and procedure for effective MIS reporting as per Management

requirement to facilitate decision

making of the Management

 

  • Ensure timely preparation of MIS reports and P&B docket.
  • Coordinate with other functions and ensure timely data collection for annual P&B exercise.
  • Analysis of monthly performance, profitability, variances, and other key value drivers. 

 

Statutory Compliances  Ensure compliance with various laws, CFD policies. Avail all incentives, export benefits, tax benefits etc and ensure timely settlement of insurance claims 

 

  • Coordinating and providing relevant inputs to central functions to ensure compliance with statutory laws.
  • Ensure timely utilization of export incentives and compliance with EXIM policy. Represent company before various revenue officials as & when required.
  • Incorporate all the initiatives taken at CFD level to maintain

“zero non-compliance culture”.

  • Ensure timely lodging of insurance claims to avoid losses.

Working Capital and

Expenditures Management 

Ensure plant level working capital and expenditures are managed at

optimized level

 

  • Responsible for monitoring, controlling, maintaining working capital elements at desired levels. 
  • Ensure all actionable and relevant MIS is released to management team after analyzing periodic working capital statements.
  • Review plant related revenue and capital expenditures.

 

Fixed assets management at site location

Ensure plant level project capital expenditure and fixed assets are managed at

optimized level

 

  • Create and monitor a system of controls, procedures, and forms for the recordation of fixed assets at site location by tracking the capex budget allocated for each WBS element and actual expenditure incurred and to report any variance with justification
  • Responsible for physically inspecting and assessing the actual work completion status in a project to process the periodic invoice
  • Review of asset under construction list for its timely capitalisation in the respective block
  • Investigate the potential obsolescence of fixed assets
  • Conduct periodic physical counts of fixed assets

Product Costing and cost Control

Ensure proper recording cost data and presentation to management for measuring efficiency and for cost control and cost reduction, ascertaining the profit of each activity, assisting management in decision making.

  • Review the Bill of material (BOM) with actual consumption, analyse other cost factors in product cost to ensure the standard rate is maintained at highest level of accuracy
  • Analyse manufacturing costs and prepare regular reports comparing standard costs to actual production costs with the reason for such variance and provide management report that specify and compare factors that affect prices and profitability of products
  • Responsible for cost run at the end of every month to give effect the most accurate standard cost in system
  • Conduct physical inventories and monitor the cycle count program and facilitate cost audit at site

Period close activities at plant level

Ensure a smooth period closing at plant level by completing all activities within the timeline fixed by corporate

 

  • Responsible for period close at plant level on Monthly, quarterly, and annual basis within timeline fixed by corporate
  • Co-ordinate with other department to collect the provision and account the same to have a seamless period close
  • Support to Central Finance Team in period closing activities from plant level

Accounting, Auditing and Process Improvements

  • Review, finalize responses to auditors
  • Lead implementation of all audit observations and robust internal control system at plant level
  • Facilitating audits and coordinate with auditors (statutory, internal and cost auditors)
  • Review Plant financials managed by shared service centre

 

 

4] Relationships (If Applicable)

 

Internal

Frequency

Nature

Site finance head, All Departmental Heads at Plant, Unit Head, SSC and corporate departments

Frequently

Related to all activities mentioned above

External

Frequency

Nature

Vendors, Contractors

Banks

Auditors

Insurance Companies Commercial Tax Dept. Consultant

Need based

Related to all activities mentioned above

Posted by: Admin