Financial Planning Analyst & Costing

Role Content:

The role holds complete responsibility for managing the financial reporting system, financial analysis, cost allocation, product costing in SAP, capital expenditure tracking, productivity assessment, yield analysis, other key financial reporting and analytical tasks for all plant locations and supply chain along with consolidation.

Key Responsibilities:

Financial Planning & Analysis (FP&A):

• Act as a business partner to the Plant and Supply Chain Teams.
• Lead consolidation of all plant-related financial planning and analysis activities with plant FP&A-costing teams.
• Prepare freight and warehousing cost analysis for finding gaps and value addition through insights.
• Prepare the annual budget, monthly forecasts, variance analysis, and develop action plans to address gaps.
• Compile and review the plant’s profit and loss account using SAP and spreadsheet tools.
• Collaborate with cross-functional manufacturing teams to gather financial data and insights for informed decision-making.

Costing Management:

• Oversee and optimize costing systems to ensure accurate product cost calculations.
• Conduct detailed cost analyses to identify cost drivers and propose cost-saving initiatives.
• Partner with operations and supply chain teams to monitor and control manufacturing costs.
• Execute monthly cost allocation processes and product costing runs in SAP, identifying and addressing variances.
• Validation of quarterly rates for Raw Material (RM), Packaging Material (PM), and Finished Goods (FG) in SAP.
• Validate Bills of Materials (BOM) and activity changes to minimize costing errors and streamline processes.
• Conduct scenario analysis to identify production cost-saving opportunities by optimizing production schedules across plants.
• Analyse and provide detailed commentary on primary and secondary freight costs and warehousing expenses.

Management Information Systems (MIS) and Reporting:

• Ensure timely month-end closing and submission of key reports.
• Conduct detailed manufacturing cost analysis, comparing year-over-year data and analysing variances against the budget and amongst the plants and regions to benchmark best practices.
• Develop and present detailed review Saving projects, Capital tracking, Loss Analysis, Manufacturing scorecard, Freight/Warehouse cost optimization and Cost control initiatives
• Deliver clear and concise financial insights to support data-driven decision-making.
• Coordinate with internal and external stakeholders for accurate financial communication and reporting like Utility, Yield ratios, Ideal supply chain routing analysis and productivity analysis

Ideal Candidate:

• CMA – [ICWA] along with MBA in accounting/operation will be preferred.
• Proven experience of 7+ years in financial planning and analysis, MIS, and costing roles, only within manufacturing industry.
• Strong analytical and problem-solving skills, with attention to detail.
• Excellent Communication skills. Commentary writing and presentation.
• Expert in power point presentation, MS office, word, excel, ERP, SAP, Power BI.