Finance Controller - Manufacturing Plant

Role Description

This is a full-time, on-site role for a Finance Controller – Manufacturing Plants. As the Finance Controller, you will be responsible for overseeing the financial management, reporting, and control functions for the manufacturing operations. Your key responsibilities will include cost accounting, budgeting, variance analysis, capital expenditure tracking, and ensuring compliance with financial and operational controls. You will work closely with plant management to provide financial insights that support operational efficiency, cost optimization, and strategic decision-making. This role is critical in maintaining financial discipline and enhancing the profitability of the manufacturing plants.

Roles & Responsibilities:

• 1. Financial Planning & Budgeting
• · Develop, manage, and monitor the plants annual budget in coordination with other departments (operations, procurement, production, etc.).
• · Prepare financial forecasts and assist in strategic planning to align with plant goals.
• · Monitor and control costs to ensure adherence to the financial plan, ensuring the plant remains cost-effective and efficient.
• 2. Cost Control & Analysis
• · Oversee cost allocation for raw materials, labor, overheads, and other manufacturing-related costs.
• · Perform cost variance analysis to understand discrepancies between budgeted and actual costs.
• · Identify opportunities for cost reduction and process optimization.
• 3. Financial Reporting
• · Prepare and present regular financial reports for plant management and headquarters, detailing operational costs, profitability, and financial performance.
• · Provide accurate and timely financial data for decision-making purposes.
• · Ensure compliance with International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAAP), as required.
• · Manage monthly, quarterly, and annual financial closings.
• 4. Inventory Management
• · Oversee the financial aspects of inventory management, including valuation and reconciliation of raw materials, work-in-progress, and finished goods.
• · Coordinate with the operations team to ensure proper tracking of inventory and minimize waste or shrinkage.

· Ensure compliance with regulatory standards for product inventory, especially with respect to vaccines and pharmaceuticals, which may have stringent requirements for storage and handling.

• 5. Internal Controls & Compliance
• · Implement and ensure adherence to internal financial controls to safeguard assets and minimize risks (including fraud, mismanagement, and compliance violations).
• · Ensure the plant complies with tax regulations, reporting requirements, and corporate governance policies.
• · Coordinate with internal and external auditors during audits.
• 6. Capital Expenditure (CapEx) Management
• · Evaluate and track capital expenditure projects, ensuring they align with the plants financial objectives.
• · Perform financial analysis and cost-benefit evaluations for any proposed capital investments in new equipment, technology, or facility upgrades.
• 7. Variance & Risk Management
• · Identify and analyze financial risks and work with management to mitigate them.
• · Provide financial analysis to explain variances from budget or forecast, including causes and action plans.
• · Work with senior management to develop financial strategies that balance growth with cost control..
• 8. Team Management & Development
• · Supervise and mentor the finance team at the plant, including accountants, analysts, and other finance staff.
• · Provide training and development opportunities to ensure the team has the necessary skills and knowledge.
• · Ensure that the team adheres to deadlines, processes, and policies.
• 10. Stakeholder Communication
• · Act as a liaison between the plants finance department and other departments, such as operations, procurement, and production.
• · Collaborate with corporate finance teams to ensure alignment of local financials with overall corporate strategies and goals.
• · Engage with senior management and plant leadership to provide financial insights and drive decision-making.
• 11. Performance Metrics & KPIs
• · Establish and track key performance indicators (KPIs) for financial health, including margins, return on assets, working capital efficiency, and inventory turnover.
• · Use KPIs to recommend improvements in financial processes and operational efficiencies.
• 12. Tax & Compliance Reporting
• · Ensure accurate and timely filing of GST returns and other statutory financial documents of the Plants
• · Work with Corporate Taxation Team to manage and optimize tax liabilities.
• Competencies :
• · Good negotiation skills.
• · Analytical.
• · Smart Thinking.
• · Ability to manage multiple stakeholders.
• · Decision making.
• · Good presentation and communication skills.
• · Influencing Skills – influence stakeholders to understand financial point of view.
• · Eye for detail.
• · Growth Oriented and
• · Knowledge of Pharma Sales & Marketing
• Reporting to : Head - Manufacturing Excellence with dotted line reporting to CFO
• Educational Qualification : M. Com with MBA in Finance / CA (Chartered Accountant)

Total Experience : 6 -8 Years (Proven experience with ERP systems, specifically SAP HANA or Oracle NetSuite, including proficiency in navigating financial modules and generating reports)