Plant Finance Head - CTO SEZ

Job Description:

The Plant Finance Head (PFH) has a key role on the plant site leadership team. Plant Finance Head will be leading overall financial activities, including Plant Profitability, Costing, Inventory Controls, month end books closure, MIS, Budgeting, Reviewing the Capital Expenditure, Operational excellences, Process controls & Compliance at the plant as well as working with Site Leadership Team (SLT) to achieve all Financial KPIs of the plant (end to end P&L management of the Plant).

Key Roles & Responsibilities:

Business Partnering:

1. Partnering with Site Head and SLT in achieving the overall financial Goals
2. Support decision making at site level through timely information, financial evaluation with insights on costs and capacity utilization.
3. Key Insights for decision making on Products with Low Margin / Low Sales.
4. Business insights to grow the Market Share and Margin of each Product and thereby improving the financial metrics of the Plant.

Costing & Inventory:

1. Inventory valuation with NRVs and Conducting perpetual inventory checks.
2. Product Raw Material Costing (spreads), Reporting of Total Variable Cost (TVC) savings against budget/baseline.
3. Calculation of overheads on a quarterly basis and review of over and under absorption.
4. Computing the MLs (incl. spent solvents) valuation on a quarterly basis and ensuring the rates updated in SAP.
5. Review of Risk Inventory (Failed, Sales returns, Incident batches) for action and ensure implement the action as per timelines.
6. Tracking and closure of open Process Orders. Ensure completeness of TECOs for completed orders.
7. Review & approving of BoM and Recipes and release SCRs.

Controlling & Books closure:

1. Monthly Book closure of the Plant related activities & spends.
2. Scrutinize GL accounts & rectification entries to be posted, incase of any item found.
3. Review and provisioning of Pending GRNs.
4. Tracking and closure of overdue RGPs & pending STOs
5. Review and report exceptions in Plant relevant Balance Sheet GLs.
6. Ensure and sign-off of FSCP Documentation.

Operating expense review, MIS, Control

1. Tracking and reporting operating expenses in line with Budget and Support to Site head to ensure spent should be as per Budget.
2. Proactive management of monthly expenses by providing insights to the Team
3. Timely release of Plant MIS to key stakeholders
4. Facilitate Cluster Head and GMO planning team with inputs and insights.

Budget & Latest Estimates:

1. Drive the Annual Budgeting exercise at plant along with CFTs
2. Preparation of Cash OpEx budget, RMCs with TVC (yield and solvents) savings.
3. Monthly basis provide Latest Estimates to FP&A Team and report the reasons for variances Vs Budget

Operational Excellence (OE)

1. Actively participate in discussions of OE Saving ideas generation and estimate the idea potential for generated ideas.
2. Review and Tracking of Cash OE, TVC & OVC Savings vs target.
3. Reporting of OE Savings status to SLT and GMO HO (Controlling & Planning) teams

Capex and Assets:

1. Review of Capex requests and propose for Investment to next levels Also conduct Post project evaluation for Key Projects
2. Review of open projects and ensure commissioning of assets as per timelines.
3. Ensure the tagging of All capitalized assets with Asset number
4. Review of Idle Assets and work on Utilisation / Liquidation.

Audits & Compliance

1. Meet the audit requirements like Statutory, SOX, and internal audits for the plant.
2. Co-ordinating for physical verification of inventory (stock audits) and discuss with WH teams and closure of variances between books and physical inventory as per guidelines.
3. Compliance with accounting policies and guidelines

SEZ Specific :

1. Compute the estimated P&L for SEZ unit(s) as per the applicable Transfer Pricing guidelines.
2. Submit the required Tax P&Ls, Returns for SEZ Authorities at regular intervals.
3. Maintaining of Adv. Duty ledger and ensure passing of payment entries.
4. Provide necessary supporting documentation for Tax Audits
5. Ensure to maintain the SEZ compliance tracker for LOA , BLUT, NFE, APRs, etc

CMA/CA with atleast 5 years of experience in Manufacturing Operations and Costing.