Versatiletech - Finance Controller (5-10 yrs)

Designation : Finance Controller

Location : HSR Layout, Bangalore

Experience: 5-7 years as Finance Controller from Factory setup

1. Financial Management:

- Develop and maintain financial policies and procedures to ensure accuracy and efficiency in financial reporting and control.

- Prepare and manage the production facility budget, including forecasting and variance analysis.

- Monitor financial performance, providing insights and recommendations to support decision-making and strategic planning.

- Be the POC for finance with vendors

- Monitoring of special projects

2. Inventory Control:

- Oversee inventory management processes to ensure optimal stock levels and minimise carrying costs.

- Implement and monitor inventory valuation methods and ensure accurate recording of inventory transactions.

- Conduct regular inventory checks/audits to reconcile discrepancies and ensure compliance with financial controls across all locations.

3. Material Planning:

- Collaborate with production and supply chain teams to develop and manage material planning strategies.

- Analyse material usage trends and forecast future requirements to ensure timely procurement and minimise disruptions.

- Assess the financial impact of material planning decisions and recommend adjustments as needed.

- Responsible for order to cash process

4. Process Optimisation:

- Evaluate and enhance financial processes and systems to improve efficiency and accuracy.

- Implement best practices for financial controls and reporting, ensuring compliance with regulatory requirements and company policies.

- Identify and drive process improvements related to cost management, inventory turnover, and working capital optimisation.

- Owning all the finance process, tools and the ERP modules.

5. Monthly Book Closures:

- Oversee the monthly book closures, ensuring that financial records are accurate and up-to-date.

- This involves reconciling accounts, validating transaction entries, and addressing any discrepancies to maintain the integrity of the financial statements.

- You will get the sign off from various business teams on the numbers and metrics.

- You will coordinate with accounting teams to complete month-end processes efficiently, ensuring that all financial activities are recorded accurately and on time.

- Your attention to detail and timely completion of book closures will provide a solid foundation for financial reporting and analysis.

6. Reporting and Analysis:

- Prepare detailed financial reports for plant management, including performance metrics, cost analyses, and financial forecasts.

- Conduct variance analysis to identify and explain deviations from budgeted performance.

- Assist in MIS preparation and presentations.

- Responsible for the internal and external audit processes.

7. Team Leadership:

- Lead and mentor a team of finance professionals, providing guidance and support to ensure effective performance.

- Foster a collaborative working environment and drive continuous improvement within the finance team.

8. Compliance and Governance:

- Ensure compliance with local regulatory requirements and corporate governance standards.

- Stay updated on changes in financial regulations and industry best practices, integrating relevant updates into plant operations.

Qualifications:

- A bachelor's degree in Finance, Accounting, Business Administration, CA, CPA, CMA, or equivalent professional certification is preferred.

- Minimum of 5-7 years of experience in controllership, with a strong focus on inventory control and material planning in a production environment.

- Proficiency in financial software and ERP systems (e.g., ERP Next).

- Excellent analytical skills with a strong understanding of financial statements and key performance indicators.

- Strong communication skills and the ability to collaborate effectively with cross-functional teams.

- Demonstrated leadership and team management abilities.

- Knowledge of Indian financial regulations and compliance requirements.