Assistant General Manager – Finance – Auto/Auto Ancillary Taggd

The Corporate Institute; Pune District; On-site; INR 900,000 - 1,300,000; Full time

Job summary

The Corporate Institute in Pune, India is seeking a seasoned Costing and Planning professional to lead business planning, standard costing, pricing, and cost controls across materials, labor and overhead.

You will oversee budgeting, inventory verification, audit readiness, and development of cost distribution logic to drive model profitability and sustainable cost reduction across CKD and A/S parts.

Responsibilities

• Devise strategy for the Business Plan focusing on material, labor and overhead costs to ensure optimal resource use.
• Guide and support fixing Cost Reduction Targets to improve profit.
• Review budget requests and ensure allocation via zero-based budgeting.
• Suggest inventory targets for all material types and optimize carrying costs.
• Design and monitor standard cost for all materials to aid cost planning and control.
• Devise pricing strategy for CKD and A/S parts to expand and improve profitability.
• Oversee feasibility studies for new models/regions to support plans.
• Monitor retrospective price increase provisions and reversal of aged provisions.
• Design allocation logic for retro costs to models to determine profitability.
• Monitor model-wise material costs against targets to meet the business plan.
• Review cost increases at COGM level to initiate cost controls.
• Review budget requests and allocate budgets by removing redundancies.
• Monitor planned vs unplanned expenditure, budget enhancements and utilization.
• Plan, organize and implement invoice processing OCR for major vendors.
• Devise methods to fix cost-reduction targets for direct materials overheads and track performance.
• Identify focus areas for profit enhancement and communicate to departments.
• Review and monitor aging inventory and balance out inventory to reduce carrying and scrap costs.
• Devise strategy for annual inventory verification with external auditors to meet statutory obligations.
• Review perpetual inventory verification to cover all high-value inventories yearly.
• Ensure compliance with cost accounting standards and timely cost audits without qualifications.
• Ensure compliance with accounting standards and CARO requirements for inventory controls.
• Review and monitor audit schedules, NRV provisions and auditor queries for statutory compliance.
• Perform cost-benefit analyses for revisions, outsourcing, leases or purchases.
• Oversee cost closing activities and allocation to models/production lines for profitability reporting.
• Recommend changes to cost distribution logic to properly allocate costs to models/production lines.
• Confer with the team to discuss issues and coordinate activities for execution excellence.
• Communicate job expectations and regularly review contributions.

Job description

Job Roles & Responsibilities:

1. Business Planning:

• – Devise strategy for Business Plan with Respect to Material, Labor & Overhead Cost & to ensure optimal Resource Utilization.
• – Guidance & support for fixing Cost Reduction Targets to aid Profit Improvement.
• – Review Budget requests from Users & ensure budget allocation based on Zero Based Budgeting.
• – Suggest strategy for fixing Inventory Targets for all Material Types (CBU, KD, LP etc) and to ensure optimum carrying cost.

2. Standard Costing:

• – Design and Monitor Standard Cost for all Materials to aid Cost Planning, Control and Compliance.

3. Strategic Pricing:

• – Devise Pricing Strategy for CKD & A/S Parts Business to aid expansion and improve profitability.
• – Oversee & guide on feasibility study for New Models/Regions to support Organizations Business Plans.

4. Retrospective Pricing:

• – Monitoring of Retrospective Price increase Provisions & Reversal of aged provision.
• – Design Allocation Logic for Retro Cost to Models to determine model profitability.

5. Target Cost Analysis:

• – Monitor & Review Model wise Material Cost vis-a-vis Targets, to ensure achievement of Business Plan.
• – Review cost increase at COGM level for initiating appropriate Cost controls to meet Targets.

6. Budget Management (Factory):

• – Review of Budget requests & Budget Allocation by removing redundant and discretionary expenditure.
• – Monitor Planned Unplanned Expenditure, Budget Enhancement & Budget Utilization (Plan vs. Actual).

7. Smart Accounting:

• – Plan, Organize & Implement invoice Processing OCR for all major vendors.

8. Profit Improvement:

• – Devise methodology for fixing Cost Reduction (CR) Targets with respect to Direct Materials Overheads and monitoring of actual CR performance to ensure adherence to Business Plan Targets.
• – Identify / Analyse & suggest specific focus areas for Profit Enhancement and highlight it to concerned departments.
• – Review & monitoring of aged inventory/Balance Out Inventory and suggest measures to reduce carrying cost & scrap cost of B/out materials.

9. Inventory Verification:

• – Devise Strategy for planning & organizing the Annual Inventory Verification in coordination with External Auditors to fulfill Statutory obligation.
• – Review & Monitor the Perpetual Inventory Verification process to ensure coverage of all high value inventories at least once in a year.

10. Compliance:

• – Ensure compliance with Cost Accounting Standards and timely completion of Cost Audit without any qualification in the Cost Audit Report.
• – Ensure compliance with Accounting Standards & CARO requirements with respect to Inventory controls.
• – Review & monitor Audit Schedules, NRV Provision & clarification of queries raised by External Auditors, to ensure Statutory Compliance.

11. Policy Decisions & Feasibility:

• – Review & Monitor Cost Benefit analysis relating to Cost Revisions/Agreement renewals/Outsourcing decisions/Lease or Purchase Decisions etc.

12. CO Books closing & Reporting:

• – Oversee Cost Closing Activities for Cost Allocation to Models /Production Lines to facilitate model profitability reporting.
• – Recommend appropriate changes to Cost Distribution Logic to ensure proper allocation of cost to Models/ Production Lines.

13. Team Development:

• – Confer with team members to discuss issues, coordinate activities or resolve problems to facilitate execution excellence.
• – Communicate job expectations to the team; plan, monitor, appraise and review job contributions in a regular manner.