Head Finance -Plant

Varroc; Chhatrapati Sambhajinagar District; On-site; INR 2,500,000 - 4,500,000; Full time

Job summary

Varroc in Chhatrapati Sambhajinagar seeks Head Finance - Plant to lead the plant's financial function, including budgeting, cash flow management, capex planning, and cost control. You will coordinate internal audits, ensure robust internal controls, and drive profitability through detailed product costing and profitability analysis.

The role requires strategic financial leadership, cross-functional collaboration with Plant Head, and development of the finance team to enable informed decision

Qualifications

• Lead finance function for the plant and oversee budgeting, forecasting and capex planning.
• Coordinate financial planning, performance analysis and cost control to drive profitability.
• Ensure internal controls, audits, and compliance across plant finance processes.

Responsibilities

• Lead financial planning and budgeting for the plant.
• Prepare monthly rolling forecast for income statement and balance sheet with Plant Head.
• Monitor budget utilisation and justify variances.
• Consolidate annual budgets across variable and fixed heads with inputs from stakeholders.
• Prepare monthly and forecast cash flow statements; plan capex funding.
• Assess capex projects with IRR and return period; monitor spend against plan.
• Collaborate with Internal Audit to identify risks and strengthen controls.
• Drive cost accounting for product costing and quotes; analyze profitability by product/segment.
• Participate in recruitment and development of the finance team.

Skills

Financial planning

Budgeting

Cash flow management

Capex management

Cost control

Internal audits

Profitability analysis

Team leadership

Tools

SAP

Excel

Job description

Job Title : Head Finance - Plant

Job Location : Chhatrapati Sambhajinagar

Job Purpose:

Lead finance function for the assigned plant; Plan and deliver financial planning & budgeting, cash flow management and capex management for the plant; Provide information and coordinate for completion of

internal audits, and ensure appropriate implementation of action plans; Analyze and recommend cost control initiatives to ensure plant profitability.

PRINCIPAL ACCOUNTABILITIES

(Accountabilities associated with the job)

• Financial Planning and Budgeting
• Participate in the plant planning process and provide accurate financial information to plant management team to enable decision making and achievement of plants financial objectives.
• Based on customer indents for next month demand, prepare forecast/ monthly rolling plan, prepare forecast of income statement and balance sheet items along with Plant Head for the assigned plant
• Undertake detailed item by item analysis and assess impact of variance on overall budget and expenses, and for difference in volume projections evaluate impact on cost / budgets.
• Monitor budget utilization and check expense PO to ensure adherence to with laid down budget, else explore justifications for expense.
• For annual budgeting at given volume, prepare and consolidate budgets across variable and fixed heads, and as per inputs from various stakeholders
• Cash flow management
• At month end, prepare cash flow statements for the plant based on actual current month cash flows; Also, prepare a forecasted cash flow statement for the next month
• Prepare plan for funding of capex requirements; Evaluate cash flow positions and plan capex funding accordingly.
• Capex management
• Prepare capex forecast at the beginning of the year incorporating the requirements of planned projects.
• On a monthly basis review actual capex requirements/ spends, and adjust the PnL accordingly
• Review individual capex projects and evaluate period of return, IRR, etc. for the planned capex
• Internal audits
• Collaborate with Internal Audit team to identify risks and create risk management frameworks specific to the plant & ensure implementation across the plant.
• Identify and implement process improvement initiatives to establish strong internal controls and enhance efficiency/ effectiveness of financial processes.
• Coordinate with Internal Audit team to provide all necessary data, respond to queries to ensure audits are conducted timely and drive corrective action plan within plant.
• Cost Control
• Apply cost accounting / management principles for product costing, quotations and new products in compliance with the BU plant costing cell.
• Generate and share ideas on cost control measures and initiatives at the plant such as reduction of a shift.
• Analyze product and segment wise profitability, especially for products posing a challenge; Deep dive into elements and cost drivers such as BOM, cost impact of SOPs, etc.; Build scenarios on cost control based on possibilities and opportunities
• Discuss and recommend transfer pricing systems and evaluate effect of transfer prices
• Analyze profitability, productivity and costs within the plant and provide feedback and reports to the Plant Head and the BU Financial Controller.
• Team development
• Participate in recruitment process to identify the right talent across positions within the team
• Establish individual performance expectations and regularly review individual performance of the team
• Identify and create development opportunities for team members to enhance functional knowledge; Update the team on regulatory and statutory changes
• ACTIVITIES performed by the role (Day to Day activities defines Day stat with and ends with activities )
• (Challenges faced on an on-going basis in carrying out the job)
• Monitor daily sales and discuss with plant head / cluster head for any shortfall and recovery plan
• Review expenses booking and headcount deployment / CL cost impact with plant head / Cluster head
• Discuss with cross functional team on critical parameters to achieve the month end Financial results