Varroc
Website:
varroc.com
Job details:
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 controlinitiatives to ensure plant profitability
• PRINCIPAL ACCOUNTABILITIES
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 plant’s 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 incompliance with the BU plant costing cell
• Generate and share ideas on cost control measures and initiatives at the plant such as reduction of ashift
• 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
• 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
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