Senior Finance cum Commercial Manager

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Job Summary:

The Senior Finance Manager will be a key member of the management team, responsible for the financial health and strategic direction of our mid-sized engineering manufacturing company in Hyderabad. This role requires a professional with deep expertise in budgeting, forecasting, and cost control within the manufacturing sector. The ideal candidate will provide insightful financial analysis and robust financial management to drive profitability and support strategic decision-making and business growth through datadriven decisions.

Key Responsibilities:

Budgeting and Forecasting:

• Lead the entire budgeting and financial forecasting process, including the preparation of the annual operating plan.
• Develop and maintain robust financial models for short-term and long-term financial projections.
• Collaborate with various department heads (e.g., Production, Supply Chain, Sales, Human Resources, others) to gather inputs and align departmental budgets with overall business objectives.
• Conduct variance analysis by comparing actual financial performance against budgets and forecasts, and provide detailed explanations for discrepancies.

Cost Control and Costing:

• Develop, implement, and monitor cost-control strategies to enhance financial performance and operational efficiency.
• Analyse and report on manufacturing costs, including raw materials, labour, and overheads, to identify cost-saving opportunities.
• Oversee product costing activities, ensuring accuracy and adherence to standard costing methodologies.
• Implement corrective actions for significant or abnormal variances to minimize their impact on the profit and loss (P&L) statement.
• Manage and control capital expenditure (Capex) budgets for new equipment and projects.

Financial Analysis and Reporting:

• Prepare and present accurate and timely financial reports, including monthly and annual financial statements, MIS reports, and business review documents for senior management.
• Provide insightful financial analysis to guide business decisions and strategic planning.
• Analyse profitability by product, customer, and business unit to support pricing decisions and sales strategies.
• Assess and mitigate financial risks, including market and operational risks, and provide ongoing guidance.

Financial Management and Compliance:

• Oversee all financial operations, including accounts payable, accounts receivable, and treasury functions.
• Manage working capital and cash flow effectively to ensure sufficient liquidity for business demands.
• Ensure timely and accurate completion of all statutory and tax filings, including Goods and Services Tax (GST), tax returns, and other regulatory requirements.
• Coordinate with internal and external auditors to ensure compliance with all financial regulations, standards, and company policies.

Team Leadership and Development:

• Lead, mentor, and manage a high-performing finance and accounting team.
• Foster a culture of accountability, accuracy, and continuous improvement within the finance department.
• Provide training and support to finance and non-finance staff on financial processes, policies, and systems.

Qualifications and Experience:

• Master's degree (M. Com/MBA in Finance) or professional qualification such as Chartered Accountant (CA) or Certified Management Accountant (CMA) is required.
• Minimum of 810 years of progressive experience in finance or accounting, with at least 4–5 years in a managerial role.
• Extensive experience in a manufacturing environment is essential, preferably in the engineering sector.
• Proven track record in budgeting, cost control, financial planning, and analysis.
• Strong knowledge of accounting principles (IFRS/Indian GAAP), financial regulations, and tax laws.
• Proficiency in Enterprise Resource Planning (ERP) systems (e.g., SAP, Oracle, Other Indian made ERPs) and advanced MS Excel skills.

Skills and Attributes:

• Analytical Skills:

  Excellent ability to interpret complex financial data and identify trends and risks.

• Communication Skills:

  Exceptional verbal and written communication skills to present complex financial information to both financial and non-financial stakeholders.

• Leadership Skills:

  Proven ability to lead, motivate, and develop a finance team.

• Attention to Detail:

  High level of accuracy and precision in all financial reporting and analysis.

• Commercial Acumen:

  Strong business sense and an understanding of the manufacturing industry and market trends.

• Problem-Solving Skills:

  Adept at identifying financial issues and developing effective, strategic solutions.

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