Team Member - Factory Finance

Division

Finance

Department

Operations Finance

Sub Department 1

Manufacturing Finance

Job Purpose

Drive accounting & Bookkeeping by ensuring accuracy, timeliness and completeness of books of accounts to present true and fair view of Financial status.

Key Accountabilities (1/6)

• Financial Accounting & Period Closing:
• Ensure accurate, complete, and compliant accounting of all plant-related transactions in accordance with company policies, accounting standards, and statutory requirements.
• Lead month-end and year-end closing activities, including Provision and accrual accounting, Prepaid expense accounting, and amortization.
• GL reviews and correction journal entries wherever applicable.
• Account reconciliations and other necessary accounting adjustments.
• Ensuring accuracy for all the assigned period-end closing activities and completeness of the TB and financial records.

• Financial Reporting & MIS:
• Prepare, review, and analyze monthly OPEX reports and other MIS reports for plant leadership and corporate finance teams.
• Provide financial insights and commentary on key performance indicators, cost trends, and business drivers to support management decision-making.

• Budgeting & Cost Management:
• Drive the annual OPEX budgeting process for the plant, including budget preparation, consolidation, review, and submission.
• Monitor actual expenditure against approved budgets and forecasts on an ongoing basis.
• Perform detailed variance analysis and provide explanations for significant deviations along with corrective action recommendations.
• Collaborate with plant and cross-functional teams to identify, evaluate, and implement cost optimization initiatives, driving sustainable savings across various expense categories.
• Vendor Governance:
• Ensure timely GRN creation by plant users to facilitate accurate accounting of purchases and liabilities.
• Coordinate with finance and shared service teams to ensure timely invoice processing, accounting, and vendor payments in line with agreed timelines.
• Review open POs regularly and work with stakeholders to close, remove, or clean up obsolete and aged POs from the system to maintain data accuracy and control.

• Vendor & Customer Master Management:
• Manage vendor and customer master data creation, modification, and maintenance in SAP, ensuring compliance with internal controls and approval requirements.
• Internal Controls & Compliance:
• Actively drive and strengthen internal control processes at the plant.
• Ensure adherence to DOA requirements, company policies, SOPs, and compliance frameworks.
• Monitor control effectiveness and support implementation of corrective actions for identified gaps.
• Promote a strong governance and compliance culture across plant operations.

• Cash Management:
• Maintain and monitor petty cash transactions, including proper recording of cash inflows and outflows.
• Ensure adequate supporting documentation, approvals, reconciliations, and compliance with internal control requirements.
• Audit Coordination:
• Coordinate and support all plant-level audits, including Statutory Audits, Internal Audits, Inventory and Stock Audits, Cost Audits and Special Audits, any ad hoc audits initiated by management.
• Facilitate timely submission of audit information and ensure closure of audit observations and action plans.

• Regulatory Reporting & External Coordination:
• Coordinate regulatory and statutory reporting requirements applicable to the plant.
• Collect, validate, consolidate, and submit required data to external agencies and government bodies such as GST department, NSSO and other regulatory institutions within stipulated timelines.
• Stakeholder Management & Business Support:
• Work closely with plant leadership, operations, admin, HR, and corporate finance teams to support business objectives.
• Provide financial guidance and analytical support for operational and strategic decision-making.
• Undertake special projects, business analyses, and other assignments as requested by plant management or corporate leadership.

Qualified CA/CMA

Relevant Work Experience

3 - 7years of work experience in plant finance.