Senior Finance Executive

Business overview

Volex is a global leader in integrated manufacturing for performance-critical applications and a supplier of power products. We serve a diverse range of markets and customers, with particular expertise in cable assemblies, higher-level assemblies, data center power and connectivity, electric vehicle charging, and consumer electricals. We are headquartered in the UK and operate from 28 manufacturing locations with a global workforce of over 14,000 employees across 25 countries. Volex operates across five divisions: Complex Industrial Technology, Consumer Electricals, Electric Vehicles, Medical, and Off-Highway/Specialist Automotive. Our products are sold through our own locally based sales teams and through authorized distributor partners to Original Equipment Manufacturers (‘OEMs’) and Electronic Manufacturing Services (‘EMS’) companies worldwide. All of the products and services that we offer are integral to the increasingly complex digital world in which we live, providing power and connectivity from the most common household items to the most complex medical equipment.

Job Role / Job Overview

Location : Chennai, India.

Reports to Reginal Finance Director, Volex Asia.

In this role you will be based in Chennai and work for Volex Interconnect (India) Pvt Ltd which is a sales office. Volex Interconnect (India) Pvt Ltd is a wholly owned subsidiary of Volex Group Holdings Limited, a company incorporated in UK, which is itself a 100% subsidiary of Volex plc, the ultimate parent company of Volex group companies based in London UK and listed in London Stock Exchange. Volex (Asia) Pte Ltd has been the headquarter for Power division and APAC region and it has operational responsibility for delivering and executing the strategy to the group’s Power business which is mainly concentrated in Asia.

In this role you will be responsible for preparing, reviewing and supporting the management and the financial accounts for Volex Interconnect (India) Pvt Ltd ensuring full compliance with Volex group polices as well as IFRS and other group reporting requirement.

You will provide financial and commercial support to the Volex group with respect to our business in India region. This will include but will not be limited to ensuring full compliance with the relevant Volex policy and procedures as well as the accounting standard from IFRS and local tax laws and regulations. You will promote a strong control environment with a high level of data integrity ensuring compliance with both external and internal directives.

You will manage financial reporting, profit margin and commercial analysis related activities for Volex India and related companies in the region. You will ensure timely and accurate reporting in line with Volex group requirements. You will need to think beyond India and contribute proactively to the wider success of the Group.

Responsibilities

• Financial and tax reporting:

Ensure all financial reporting is compliant with Group requirements, completed with a high level of integrity and on time. You should participate in the monthly flash calls with the regional Finance team and the head office Finance team and ensure the margin analysis and variance packs are reviewed and analyzed before being presented to the management team. You will be responsible for bringing any financial related issues to management’s attention and identifying best course of action to resolve them. You will be expected to prepare and file tax returns in line with local tax rules and regulations

• Management accounting:

To conduct regular ITP markup reviews with the regional Finance team and group tax manager and ensure that new rates are updated correctly.

To review the month end costing related reconciliations such as PPV, COGS and inventory etc.

To review and consolidate the monthly costing variance pack and stock absorptions etc.

To review the year end standard cost updates and stock revaluations for the new financial year.

To conduct budget and forecast variance analysis with aim to improve the company’s bottom line.

• Business partner:

Use your commercial, analytical, and financial expertise to aid decision making such as margin analysis by part number and by OEMs to understand the cause of SCM and TCM variances between current financial period vs prior financial period, between actuals vs budget or forecasts and recommend margin improvement plans to support the achievement of the operational and financial goals of the business and the wider Group.

• Systems and systems development:

You need to develop an advanced working knowledge of our new ERP system – Epicor and business process used in the business with eyes for improvement. You will also be responsible for supporting the implementation of the best practice on business processes and financial reporting.

• Budgeting and Forecasting:

You will be a key member of the Volex group annual budgeting process, providing valuable inputs such as revenue and Standard Contribution Margins (SCM) by OEMs and Opex by cost centres etc. You will also be responsible for jointly reviewing and delivering monthly rolling forecasts and other business updates as required by the Group.

• Working Capital and Cash Flow Management:

You will be actively involved in the regular working capital and cash flow forecast exercise and contribute to reducing working capital to a minimum and thereby maximizing cash. This will include understanding the cash needs of the business and reviewing this with a focus on improving AR days.

• Other responsibilities:

We require all our employees to have a ‘can do’ and flexible approach to their work and to perform other duties as may be required for the success of the business. You will also be required to develop your direct reports, ensure job responsibilities are clear and carry out annual appraisals.

General Profile and Requirements

• Qualified Accountant with a Finance or Management Accounting related degree or equivalent professional qualifications such as ACCA or CIMA.
• Strong financial reporting, management accounting and tax (including both direct and indirect tax) background preferably achieved in big MNCs in manufacturing industry.
• Good technical knowledge of IFRS and India tax laws.
• At least 3 years of experience in Financial or management accounting role including margin analysis by products and customers, budget variance analysis and VAT & corporate tax reporting etc.
• Able to demonstrate financial and commercial business acumen gained in a manufacturing environment.
• Being able to communicate fluently in English is important as this role needs to interact with fellow colleagues from various regions and countries.
• Excellent computer skills with Microsoft Office applications. especially Excel, and experience of working with Epicor or a similar ERP system will be an added advantage.
• Good attention to detail and ‘can do’ attitude.
• Good organizational and problem-solving skills with a very structured and methodical approach.
• Ability to deliver high quality output under pressure and to meet tight deadlines.
• Good interpersonal communication skills.

Equal Opportunity Statement

Volex is committed to upholding fair, inclusive, and non-discriminatory employment practices. All employment decisions are based strictly on job-related qualifications and merit, without regard to personal characteristics unrelated to job performance. We maintain a zero-tolerance policy toward discrimination, harassment, and the use of child labour. Volex also recognizes and respects the right of employees to representation and collective bargaining, and we are dedicated to fostering a safe, respectful, and empowering work environment for all.