Financial Controller

Job Description: AGM/DGM – Financial Planning & Analysis (FP&A)

Job Level: Mid-Management (10–15 years experience)

Location: [Corporate Office, Pune]

Role Purpose

Act as the Finance Business Partner for an EPC-heavy technology business unit, supporting project lifecycles from bid stage through execution and close-out. Drive financial planning, performance management, revenue recognition, working capital optimization, and commercial decision support to enable profitable growth, predictable cash flows, and strong governance across complex EPC projects.

Key Responsibilities

1. Business Partnering & Performance Management

• Partner with BU leadership, Project leaders, PMO, R&D, Engineering, Procurement, and Commercial teams to support EPC project execution.

• Monitor and analyze EPC KPIs including order intake, backlog, project margins, cost-to-complete, productivity, billing milestones, unbilled/WIP, claims, variations, retention, and cash conversion.

• Develop and present monthly performance dashboards with financial insights, early warning signals, and corrective action plans.

2. Financial Planning, Budgeting & Forecasting

• Lead preparation of the Annual Operating Plan (AOP), rolling forecasts, and long-range plans (3–5 years) for the business.

• Build and maintain integrated financial models linking backlog conversion, project schedules, resource deployment, cost curves, and cash flows.

• Challenge assumptions and support management with scenario and sensitivity analyses for execution risks.

3. Revenue Recognition & Project Accounting (Ind AS 115)

• Own revenue recognition for contracts and ensure compliance with Ind AS 115.

• Assess contract terms to identify performance obligations, allocate transaction price, evaluate variable consideration, and apply constraints.

• Review and validate percentage-of-completion (POC) calculations, cost-to-complete latest estimates in line with time to completion, and margin forecasts at project level.

• Ensure timely identification and accounting of variations, claims, escalation clauses, liquidated damages, and contract modifications.

• Partner with project and commercial teams to align revenue recognition with physical progress and contractual entitlements.

• Support audits by providing documentation, judgment memos, and reconciliations related to revenue, WIP/unbilled, and contract assets/liabilities.

4. Financial & Variance Analysis

• Lead monthly variance analysis across P&L, balance sheet, and cash flow (Actual vs Budget / Forecast / Prior Period).

• Perform project margin bridge analyses to identify cost overruns, productivity slippages, scope changes, and pricing impacts.

•Track and report key risks and opportunities impacting project profitability and revenue recognition.

5. Working Capital & Cash Flow Management

•Drive working capital optimization across receivables, unbilled revenue, advances, retention, payables, and inventory.

• Partner with project and commercial teams to improve billing discipline, milestone invoicing, claims recovery, and collections.

• Prepare and monitor project-level and BU-level cash flow forecasts.

6. Resource Allocation & Cost Governance

• Support BU leadership in resource allocation decisions including engineering capacity, subcontracting, and overhead absorption.

• Evaluate cost control initiatives and productivity improvement programs; track benefits realization.

• Support investment and CAPEX proposals through robust financial analysis and business cases.

7. Commercial, Bid & Contract Finance Support

• Provide finance inputs for bids, tenders, and change orders including pricing, margins, risk contingencies, and cash flow impact.

• Review financial and commercial clauses (payment terms, LDs, escalation, retention) in coordination with Legal and Commercial teams.

• Support dispute resolution and claims management by quantifying financial exposure and potential upside.

8. Governance, Controls & Stakeholder Management

• Ensure accuracy, integrity, and timeliness of financial reporting and planning outputs.

• Maintain strong internal controls, compliance, and audit readiness across project accounting.

• Communicate complex financial matters (red flags) clearly and in timely manner to senior management and non-finance stakeholders.

Key Deliverables

•Monthly EPC BU performance and revenue recognition pack.

•AOP, rolling forecasts, and long-range plan models.

•Project margin and cost-to-complete analyses supported by a risks & opportunities view.

•Working capital and cash flow improvement plans.

•Revenue recognition position papers and audit support schedules.

•Bid finance evaluations and contract financial risk assessments.

Skills & Competencies - Technical / Functional

•Strong expertise in EPC project finance, FP&A, and revenue recognition (Ind AS 115).

•Deep understanding of EPC contract structures for private and public sector clients, milestone billing, variations, claims, retention, and WIP/unbilled accounting.

•Advanced financial modeling; strong Excel and PowerPoint; experience with ERP/BI tools (e.g., SAP, Oracle, Power BI) preferred.

Behavioral

•Strong business partnering and stakeholder influencing skills.

•Analytical and detail-oriented; comfortable working in complex, multi-project environments.

•Ability to balance financial rigor with commercial pragmatism.