The Operations Finance Specialist is accountable for the delivery of reporting, analysis and controlling activities related to the relevant Business Unit or Plant. The person in this role will maintain a strong relationship with the SSC/ARC Manager and BU / Plant counterparts, to understand expectations on service delivery and work towards them. The position will require developing a good understanding of manufacturing process and will involve working closely with plant functional teams to drive better financial performance.
This role mainly focuses on budgeting & forecasting, Standard costing, reporting and financial analysis:
o Controlling activities
o Business Financial Analysis & Reporting
o Standard Costing & Margin Analysis
o Internal Controls & Audit
Detailed Responsibilities -
• Controlling activities
o Effective handling of controlling activities for the defined scope
o Working Capital follow up and Control – Receivable ageing analysis & follow up with Marketing and Sales
o Inventory Valuation every month and Inventory Control
o Ensuring the correctness of the PC & CC bookings in SAP as well correctness of account groupings (valuation class)
o CAPEX follow-up and compliance with CAPEX procedure
o Capex Budget preparation for expansion projects, on-going requirements, IT etc. Creation & update of position IDs in IM module of SAP based on X+1 (Budget) and Approved CAR
o Maintaining CAR (Capital Appropriation Request) details
o Creation of Internal Orders for approved CAR, allocation of budget to internal orders and updating the same in IM module of SAP
o Fixed Asset Control (CWIP follow up, Creation of FA, Transfer of CWIP to FA, Investment Analysis)
o Ensuring timely capitalization of fixed assets as per local GAAP as well as IFRS
o Verification of credit notes to customer for volume discounts & other rebates
• Business Financial Analysis & Reporting
o Support Preparation of Budgets (X+1)
o Preparation of Monthly Sales report
o Monthly Reporting on operational and financial performance
o Support cash cost reviews with the Plant teams, identify provision requirements and ensure their booking by FSC
o Project monitoring and reporting of actual Capex v/s budget
o Provide details of Capital Work in progress
o SGA Expenses reporting & Control and monthly reviews of SGA expenses with budget owners
o Adaptation of additional reports as per requirement of Group control
o Providing information to Plant and BU Control as may be required
o Preparation of analysis for monthly financials review with BU / Plant
o Specific provisions related to quarterly & yearly closing
•
Standard Costing and Margin Analysis
o Drive cost control programs and tracking
o Calculation of Transfer Prices for Traded FG, Spool Return to inter-companies and review of local transport fee & duties
o Alignment of costing practices with Global Standard
o Verification of material master-data (BOM, Recipe, Costing Version etc.) in SAP, comparison of similar FGs/WIPs, Identification & correction of master data in consultation with production & planning department
o Assist in Yearly calculation of Activity Prices (Man-Hour, Machine-Hour, Ton) for updating FG standard cost (through various SAP codes) for conversion cost based on group standard methodology & X+1 quantities, Update & maintain specific tables in SAP for various cost items like Electricity, Dies, Spools, Pallets in consultation with concerned departments
o Periodically updating the standard cost of Bom items (purchased HP, WR..) , produced FG and Traded materials
o Ad-hoc updating of standard cost for HP, FG & Traded FG based on requirement, checking and comparison of master-data and standard cost of new materials
o Calculate Standard cost for X+1, Revised estimate, and Statutory audit
o Yearly updating the transfer price calculations for Traded FG & Spool Return, proving Transfer Price for Traded FGs based on the requests from Sales & Marketing. Providing Transfer to SCM for Spool Return
o Provide cost breakup details to Sales & marketing for costing sheet preparation for export of FG
• Internal Controls and Audit
o Internal control: set-up and deploy procedures, check compliance, and assure audit recommendations are put into action plans
o Review of internal controls relating to Costing for ensuring integrity, reliability and genuineness of reports generated
o Ensure and review SOP’s at Plant with respect to processes having a financial impact (inventory, production, sales)
o Regular Expenses Analysis and action for control. Spread awareness on cost control and cost reduction around BU / Plant
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