Finance Officer - Financial Accounting

Job Title: Financial Controller Department: Finance
Reports To: Deputy CFO/CFO
Location: Anand, (Bus facility for candidates residing in Vadodara)
Industry: Manufacturing

Job Summary:
We are seeking an experienced Financial Controller to oversee all financial operations in our manufacturing company. The ideal candidate will be responsible for managing inventory control, driving cost improvement initiatives, preparing budgets, conducting variance analysis, and delivering timely and accurate MIS reports. This role plays a crucial part in supporting operational efficiency and strategic decision-making across the organization.

Qualifications & Skills:
CA or ICWA with Minimum 3-5 years of experience in a manufacturing setup.
Strong understanding of manufacturing cost accounting and inventory management.
Proficiency in ERP systems (SAP, Oracle, etc.) and MS Excel.
Analytical mindset with attention to detail.
Excellent communication, leadership, and interpersonal skills.

Key Responsibilities:
1. Inventory Control:
Monitor and ensure accuracy of inventory records (raw materials, WIP, finished goods).
Implement effective inventory management systems and controls.
Conduct periodic inventory audits and reconcile discrepancies.
Collaborate with production and warehouse teams to optimize inventory turnover and minimize obsolescence.
2. Cost Improvement & Control:
Analyze current manufacturing costs and identify areas for improvement.
Develop and implement cost-saving initiatives without compromising product quality.
Monitor cost structures and recommend process improvements to enhance profitability.
Support continuous improvement (Lean, Six Sigma) initiatives from a financial standpoint.
3. Budget Preparation & Forecasting:
Lead the annual budgeting process, including capital and operating budgets.
Prepare rolling forecasts and financial projections.
Coordinate with department heads to gather input and align budgets with strategic goals.
4. Variance Analysis:
Conduct detailed variance analysis (budget vs actual, standard vs actual cost).
Investigate and report significant deviations, recommending corrective actions.
Present findings to management with clear insights and actionable recommendations.
5. MIS Reporting:
Prepare and deliver monthly, quarterly, and annual financial reports.
Generate customized MIS reports for management review and decision-making.
Ensure timely and accurate financial reporting in compliance with internal policies.
6. Financial Oversight & Controls:
Maintain robust internal controls to safeguard company assets.
Ensure compliance with statutory and regulatory requirements.
Oversee day-to-day finance operations including AP/AR, GL, and cash flow management.
7. Cost Audit & Compliance:
Lead the preparation and execution of cost audits as required by statutory regulations
Ensure compliance with cost accounting standards and cost audit requirements.
Liaise with external cost auditors and provide required documentation and explanations.
Review and validate cost records, statements, and reconciliations for accuracy and completeness.
Identify areas of inefficiency and suggest cost control measures based on audit findings.
Submit Cost Audit Report and Cost Compliance Report (CRA forms) within stipulated timelines.
8. Financial Oversight & Controls
Maintain robust internal controls to safeguard company assets.
Ensure compliance with statutory and regulatory requirements.
Oversee day-to-day finance operations including AP/AR, GL, and cash flow management.
Conduct ledger scrutiny as per internal control mechanisms and various statutory acts.
Ensure compliance and understanding of financial reporting under IND AS / IGAAP.
9. Team Management & Development:
Supervise and mentor finance team members.
Foster a culture of accountability, continuous learning, and professional development.