Job Purpose
Plan, direct and monitor all the Financial and Commercial systems and processes in order to ensure proper Accounting, Fund management, Risk Management, Corporate Governance, Material management with various cost optimization initiatives in coordination with Corporate Central Team, Waste management by ensuring timely disposal of all solid wastes, ensure Statutory and overall legal compliances by maintaining proper liaison with Forest Deptt and other Govt. authorities at Unit site and Lucknow.
Key Result Areas
KRA
Supporting Actions
1 Accounting & MIS: Develop & organize systems for regular and timely accounting of all Business transactions with adequet contrl as per statutory requirements and in line with CFD guidelines and corporate requirements so generate reports for analysis, control and improvement of various Business parameters. 1.Put enough controls in place to ensure recording of business transaction as accounting standards, policies and practices
- Ensure proper delegation of assignments in the function
- Review monthly projections to plan monthly operation of unit
- Monitor daily inventory and projected profitability reports for timely management decision making
- Plan and schedule the activities of the Department and Analyze the reports
- Highlight the exceptions to the Unit Head
- Highlight and recommend opportunities for cost savings
- Developing systems/processes as per corporate Good governance
- Ensure for implementation of contract management processes
- Ensure safety systems in place so that organization interests are safe-guarded
2 Monitor Capital Expenditure: To evaluate Capital Expenditure proposals so as to ensure effective utilization of resources 1.Examine financial viability of Departmental proposals
- Submit the same with recommendations to the Unit Head
- Monitor implementation schedules to ensure timely completion of schemes
- Review spent status of all schemes to ensure timely availability of materials and control on spent
3 Working Capital Management: To optimize Working Capital for the Unit so as to ensure optimum fund availability 1.Plan monthly procurements in line with productionplans to optimize inventory levels for all Raw Materials
- Review slow moving and non moving items
- Regularly monitor and minimize blockage of funds
- Monitor inventory aging of stores items to ensure availability as well as inventory optimization
- Co-ordinate with Central Finance Division (CFD) for fund requirements
4 Planning & Budgeting: Ensure annual planning and budgeting exercise is performed in effective and time bound manner so as to facilitate in timely preparation of Business P&B 1.Ensure zero based budgeting exercise is performed for optimum utilization of resource
- Conduct Analysis and detailing of deviation in P&B as compared to historical data and new requirements
- Review inventory levels of Raw Materials and critical and insurance spares to plan for procurement projections
- Analyze and ensure impact of capex proposals in planning and budgeting
- Submit the budget to Unit Head for approval
- Analyze Units performance data against budget Reports abnormal variances (exceptions) to the Unit Head
5 Sourcing: Ensure availability of all major inputs, fuel and services at a desired quality at optimum cost & at a right time so as to facilitate uninterrupted plant operations 1.Ensure compliance to procurement and contract management SOP issued by chemical business delegation manual.
- Ensure high value procurement negotiations are being done with base costing
- Evaluate opportunity for cost reduction due to efficiency improvement in services
- Ensure periodic vendor evaluation and action plans for improvement of lagging vendors
- Negotiate for purchase of high value items and get involved in vendor selection
- Negotiate general purchase terms for higher credit periods, etc. Analyze data sent by Head (Raw Material Purchase) and recommend purchase options to the Unit Heads
- Prepare and monitor actions based on Internal Audit Department reports / Management Services, Market intelligence on price trends
- Have close interaction with industry peers
- Maintain coordination with Coal India and keep track and monitor sourcing coal though chepest source.
6 Information Technology & Security: Plan and monitor IT resources availability (including SAP) and automation of various processes and systems so as to ensure uninterrupted business transactions and optimum utilization of various resources 1.Monitor implementation of various initiatives on information security
- Make sure IT platforms availability round the clock
- Plan and monitor automation of various activities to optimize resources
- Strengthen internal system controls and its deployment
- Plan and ensure development of new reports so as to reduce repeated efforts and manual interventions.
- Plan and share unit IT resources across business units for various improvement projects
7 Statutory Compliance & Liasion :- Ensure compliance of all statutory provisions and liaison with all regulatory authorities. 1.Guide preparation of legal compliance manual
- Review on monthly basis compliance of all applicable rules and provisions.
- Establish and mantain raport with all concern regulatory authorities like Forest , UPPCL, Pollution Control Board, Industry Deptt. etc.
8 People Development: Build & sustain a congenial work culture by effective management of people to improve productivity, growth & motivation levels of employees to institutionalize best organizational practices in the unit 1.Set performance targets & KRAs and conduct performance assessment, training need identification of team members and communicate role clarity to each one
- Ensure discipline and grievance handling of the team
- Inculcate in team the group values/policies/ vision/ mission & objectives
- Motivate employees for stretch targets through team building and two-way communication
- Recommend trainings for skill development and ensure development of team members
