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3 Knest Manufacturers Jobs

Finance Controller

8-13 years

Talegaon Dabhade

1 vacancy

Finance Controller

Knest Manufacturers

posted 24d ago

Job Description

Job description:


Job Title: Factory Finance Controller
Department: Finance
Reports to: GM Finance
Location : Talegaon (Monday to Saturday working - 9.30 AM to 6.30 PM)

Job Overview:

The Factory Finance Controller will be responsible for overseeing all financial operations related to all the factories, including bill processing, compliance, cost management, cost variance analysis, and implementing various internal controls. This role will ensure accurate financial reporting for the factory, control operational costs, and enforce compliance with regulatory requirements. The Factory Finance Controller will collaborate closely with plant management and corporate finance to support decision-making and improve financial performance at the factory level.

Key Responsibilities:

1. Factory Financial Reporting & Control

  • Ensure accurate and timely preparation of factory-specific financial reports, including cost summaries, budget performance, and variance reports.
  • Monitor factory expenditures, aligning them with budgeted costs and providing detailed insights to senior management on key cost drivers.
  • Establish and maintain robust financial controls to ensure the integrity of financial data and processes within the factory.

2. Bill Processing & Vendor Management

  • Oversee the processing of all factory-related bills, including raw materials, utilities, and services.
  • Ensure timely and accurate payment processing while adhering to company policies and approval hierarchies.
  • Coordinate with procurement and supply chain teams to validate bill entries and resolve any discrepancies with vendors.
  • Track outstanding payments and manage the factory's accounts payable, ensuring adherence to payment terms and managing cash flow effectively.

3. Compliance Management

  • Ensure strict compliance with statutory and regulatory requirements at the factory level, including tax, labour laws, environmental regulations, and other legal frameworks.
  • Implement and monitor compliance programs to mitigate risks, ensuring that all financial and operational activities are in line with local, state, and national regulations.
  • Coordinate with internal and external auditors during audits, providing necessary documentation and explanations.

4. Cost Management & Efficiency Improvement

  • Lead cost management initiatives, focusing on cost reduction opportunities without compromising product quality or operational efficiency.
  • Develop standard costing systems, monitor actual costs against budgeted or standard costs, and identify cost-saving opportunities.
  • Collaborate with factory management to improve operational processes, reducing wastage, inefficiencies, and non-value-added activities.

5. Cost Variance Analysis

  • Conduct detailed cost variance analysis by comparing actual costs with budgets or standards, identifying reasons for variances, and suggesting corrective actions.
  • Provide regular variance reports to plant managers and corporate finance, explaining deviations from expected performance.
  • Assist in the budgeting and forecasting processes by providing detailed cost estimates and tracking factory-related expenses.

6. Internal Controls & Risk Management

  • Design, implement, and monitor internal financial controls related to factory operations to prevent fraud, errors, and inefficiencies.
  • Establish procedures for inventory control, ensuring accurate stock valuations, and reducing inventory write-offs or losses.
  • Implement controls to ensure accurate recording of factory overheads and production costs.

7. Collaboration with Operations & Production Teams

  • Work closely with factory management, production, and supply chain teams to ensure financial objectives are aligned with operational targets.
  • Provide financial guidance on production plans, resource allocation, and investment decisions within the factory.
  • Regularly meet with the production team to review performance against financial targets and propose initiatives to drive cost-effectiveness.

Qualifications & Skills:

  • Educational Background:
  • Bachelors or masters degree in finance, Accounting, or a related field.
  • Professional certifications such as CA, CMA (Cost Accountant - ICWAI).
  • Experience:
  • 8-10 years of experience in factory or plant finance, with strong expertise in cost accounting, financial reporting, and compliance management.
  • Proven experience in manufacturing environments is highly preferred.
  • Technical Skills:
  • Proficiency in SAP with a focus on cost accounting and financial control.
  • Advanced knowledge of MS Excel and financial reporting tools.
  • Strong understanding of cost accounting principles, variance analysis, and internal controls.

Key Performance Indicators (KPIs):

  • Accuracy and timeliness of factory financial reports and cost variance analysis.
  • Effective cost control measures resulting in reduced operational costs.
  • Timeliness and accuracy of bill processing and vendor payment management.
  • Compliance with statutory regulations and internal audit standards.
  • Improvement in cost variances and implementation of cost-saving measures.

Employment Type: Full Time, Permanent

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What people at Knest Manufacturers are saying

What Knest Manufacturers employees are saying about work life

based on 142 employees
61%
96%
39%
100%
Strict timing
Monday to Saturday
Within city
Day Shift
View more insights

Knest Manufacturers Benefits

Job Training
Free Food
Health Insurance
Free Transport
Cafeteria
Team Outings +6 more
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