Head Finance - BU

JOB PURPOSE

Lead finance function for the assigned BU; Plan and deliver financial planning & budgeting, cash flow management and capex management for the plant; Provide information and coordinate for completion of internal audits and ensure appropriate implementation of action plans; Analyze and recommend cost control initiatives to ensure plant profitability.

PRINCIPAL ACCOUNTABILITIES

Financial Planning and Budgeting

Participate in the plant(s) planning process and provide accurate financial information to plant management team to enable decision making and achievement of plants financial objectives

Based on customer indents for next month demand, prepare forecast/ monthly rolling plan, prepare forecast of income statement and balance sheet items along with Plant Head for the assigned plant

Undertake detailed item by item analysis and assess impact of variance on overall budget and expenses, and for difference in volume projections evaluate impact on cost / budgets

Monitor budget utilization and check expense PO to ensure adherence to with laid down budget, else explore justifications for expense

For annual budgeting at given volume, prepare and consolidate budgets across variable and fixed heads, and as per inputs from various stakeholders

Cash flow and working capital management

At month end, prepare cash flow statements for the plant based on actual current month cash flows; Also, prepare a forecasted cash flow statement for the next month

Prepare plan for funding of capex requirements; Evaluate cash flow positions and plan capex funding accordingly \

Review of working capital, Inventory, Receivables, vendor advances, other current assets/ Liabilities and ensuing timely realization of money.

Capex management

Prepare capex forecast at the beginning of the year incorporating the requirements of planned projects

On a monthly basis review actual capex requirements/ spends, and adjust the PnL accordingly

Review individual capex projects and evaluate period of return, IRR, etc. for the planned capex

Internal audits

Collaborate with Internal Audit team to identify risks and create risk management frameworks specific to the plant & ensure implementation across the plant

Identify and implement process improvement initiatives to establish strong internal controls and enhance efficiency/ effectiveness of financial processes

Coordinate with Internal Audit team to provide all necessary data, respond to queries to ensure audits are conducted timely and drive corrective action plan within plant

Cost Control

Apply cost accounting / management principles for product costing, quotations and new products in compliance with the BU plant costing cell

Generate and share ideas on cost control measures and initiatives at the plant such as reduction of a shift

Analyze product and segment wise profitability, especially for products posing a challenge; Deep dive into elements and cost drivers such as BOM, cost impact of SOPs, etc.; Build scenarios on cost control based on possibilities and opportunities

Discuss and recommend transfer pricing systems and evaluate effect of transfer prices

Analyze profitability, productivity and costs within the plant and provide feedback and reports to the Plant Head and the BU Financial Controller.

Team development

Participate in recruitment process to identify the right talent across positions within the team

Establish individual performance expectations and regularly review individual performance of the team

Identify and create development opportunities for team members to enhance functional knowledge; Update the team on regulatory and statutory changes.

QUALIFICATION

Minimum Qualification required: CA

WORK EXPERIENCE

Min 10-15 years of relevant experience / exposure of managing global subsidiaries in terms of accounts consolidation, budgeting, financial controlling & planning etc (Mandatory)

Exposure to Automotive / Auto Component Manufacturing / Manufacturing organisations with Plant Finance Controlling experience is preferred

Exposure to SAP / Oracle ERP is preferred

Exposure of managing International Subsidiaries & working with international teams is Mandatory