Sub Section Head - MIS & Costing - Steel

About Welspun

Welspun World is one of India's fastest growing global conglomerates with businesses in Home Textiles, Flooring Solutions, Advanced Textiles, DI Pipes, Pig Iron, TMT bars, Stainless Steel, Alloy, Line Pipes, Infrastructure & Warehousing.At Welspun, we strongly believe in our purpose to delight customers through innovation and technology, achieve inclusive & sustainable growth to remain eminent in all our businesses. From Homes to Highways, Hi-tech to Heavy metals, We lead tomorrow together to create a smarter & more sustainable world.

Job Purpose/ Summary

To lead and manage the costing, budgeting, and MIS functions, ensuring accurate product costing, reconciliation of financial and cost records, insightful variance analysis, and effective reporting. The role also ensures compliance with cost audit requirements and efficient utilization of SAP CO module for cost accounting and reporting.

Job Title

Sub Section Head - MIS & Costing - Steel Work with IT/SAP teams to drive automation and improvements in costing processes.1. Product Costing & Cost RunEnsure accurate and timely product costing including material, labour, and overhead costs.Manage monthly and annual cost runs in SAP CO module.Analyse and validate cost estimates, BOMs, and routings for accuracy and efficiency.Maintain and update standard costing. Budgeting and ForecastingPrepare and coordinate annual and monthly budgets in collaboration with all departments.Monitor actual performance vs budget and highlight significant deviations.Assist in rolling forecasts based on business inputs. MIS ReportingPrepare and publish timely and accurate monthly MIS reports for management.Design and implement dashboards and KPIs for performance tracking.Provide cost and profitability reports by product, department, customer, or geography. Reconciliation & Profit AnalysisReconcile accounting profit with costing profit, identifying reasons for differences.Support month-end closing activities related to cost accounting. Variance AnalysisPerform detailed variance analysis (Standard vs Actual costs. for material, labour, overheads, etc.Identify root causes for variances and coordinate with respective departments for explanations. Ensure proper accounting/posting of variances in SAP after getting the approval from respective authority. Cost Audit & CompliancePrepare cost records and documentation for cost audit. Coordinate with cost auditors and provide required data and responses for timely completion of Cost Audit.Ensure compliance with statutory cost accounting standards. SAP CO Module Management Handle master data maintenance, BOM Maintenance, Standard Costing of routings and reporting within SAP CO module.Ensure seamless integration with FI, MM, and PP modules.

Principal Accountabilities

Design, implement, and manage the organization’s MIS, ensuring that systems are up-to-date and meet business needs. Ensure seamless integration of MIS with other business systems, such as ERP, accounting, and inventory systems, to provide real-time, accurate data. Regularly update MIS reports to reflect current business performance and provide insights to senior management.Generate detailed, accurate, and timely management reports, including key performance indicators (KPIs., financial metrics, and operational data. Analyze data trends, identify areas for improvement, and provide actionable recommendations to management based on the analysis. Support decision-making by offering data-driven insights and forecasting future trends.Continuously evaluate and improve the MIS, recommending and implementing new features or systems to enhance reporting accuracy, efficiency, and usability.Oversee the company’s costing processes, ensuring all costs are accurately tracked, classified, and reported.Monitor and analyze cost behavior across different departments, identifying areas of overspend or inefficiencies. Prepare monthly cost reports, highlighting variances between actual and budgeted costs, and work with departments to identify corrective actions.Identify opportunities for cost reduction and process improvements in areas such as procurement, operations, and overhead management. Collaborate with department heads to implement cost control measures and ensure adherence to budgetsCollaborate with the finance team to develop and monitor annual budgets and forecasts. Ensure that cost assumptions are accurately reflected in the budgeting process and adjust as necessary to align with actual performance.

Key Interactions

Cross-Functional Collaboration ,Finance & Accounts,Mid Management,Internal Communication

Experience

10

Competency Name

Competency Name

Proficiency Level

Global Mind-set Product Costing Business & Commercial acumen Commercial Awanress People Excellence MIS & Reporting_Costing Entrepreneurship SAP \/ Other IT Related applications_MIS & Costing

Additional Section (Can Be Added, If Required.

NA