Title:  Associate Manager, Finance

Job Summary

• To support the Manager Finance in costing and budgeting activities at the Business Unit level  and thus ensure appropriate financial and regulatory health of the business unit
• Support the BU team as well as provide support to the Corporate Team in product cost management

Roles & Responsibilities

• Support the Manager Finance in finalization of the overall product pricing strategy in close coordination with the Marketing department

1. Operational:

• Support the Manager Finance in budgeting exercise for the business unit including collation, consolidation and communication
• Manage production/ manufacturing costing sheet, Business P&L, Balance Sheet, Capital Spending (CAPEX), Inventory and reserves
• Prepare the first level budgeting schedule for the business unit and assist each department in budget preparation by providing formats, guidelines, assumptions and principles for the same
• Receive changes in budgets from each department and collate final budget by incorporating changes suggested by Manager Finance and provide support to the Manager Finance in presenting the revised budget to MD/ CEO/GM for approval
• Upload final budget on ERP system and regularly monitor the budget for deviations
• Collect and analyse various heads/ cost of doing business including manufacturing and sales  data to determine costs of business activity such as raw material and spares purchases, S&D, inventory, energy usage, transportation and manpower deployment
• Conduct periodic analysis of costs in product design, raw materials, manufacturing methods to determine impact on cost base and hence overall profitability of the business unit
• Analyse actual manufacturing costs and prepare periodic reports comparing standard costs to actual production costs
• Support the Manager Finance in conducting variance analysis of planned Vs. actuals costs across the business unit
• Perform stock valuation, stock count, SKU level sales analysis and check for any variances in terms of quantity, price and usage to be highlighted to the Manager Finance
• Conduct competitive analysis of quarterly/ annual business/ financial results with respect to product pricing, growth rates, profitability, ROI, sales tracking etc. and provide details to the Manager Finance
• Support the Manager Finance in monthly/ quarterly/ annual costing for required components and assist the business unit in new product costing by providing data and costing templates
• Work in close coordination with the Manager Finance to accurately allocate the direct and indirect expenses to the components and cost centers, calculate the man-minute costs of each component & overall component cost and submit the same for review on a monthly/ quarterly/ annual basis
• Ensure timely preparation of costing related MIS and submit the same to all concerned stakeholders as per the agreed timelines
• Upload any product recipe changes and product procurement cost on the ERP system and forecasts monthly margins basis the changing prices
• Support the Manager Finance in integration of new ledgers and accounts in the ERP system and ensure accounting of items in appropriate ledgers
• Identify process improvements and make recommendations to Manager Finance to strengthen and improve internal controls and thus streamline the budgeting and costing processes
• Allocate work to subordinates, nominate for training as per guidelines, conduct performance reviews and manage leave and overtime to ensure efficiency.
• Participate in the identification of training and development initiatives for all subordinates
• Drive the engagement and satisfaction of the team through holding periodic meetings to discuss the achievements and address any employee issues and/or concerns. Build an effective, efficient and motivated team
   

KPIs

• % adherence to timelines for development of budgets
• Timeliness and accuracy of MIS
• % adherence to timelines for product costing
• % accuracy in product costing
• Time taken to achieve closure on audit observations

Work experience requirement

5+ years of related experience in budgeting and costing, preferably in a manufacturing or FMCG industry

Qualification

Chartered Accountant or a diploma from CIMA / ICMA or from leading institutions 

Competencies