MANAGER - PLANT ACCOUNTS
Asian Paints
Mumbai, Maharashtra, IN
6d ago

Job Purpose

ØImplement and drive cost management initiatives, define controls to mitigate financial risk and execute as per laid down procedures

ØAct as one point interface of plant to corporate taxation, corporate accounts, shared service center, legal & corporate audit

ØActive role in negotiation and commercial activity of all major procurements

Primary Responsibilities

Business Responsibility Areas

Key Performance Indicators

Cost management :

ØPrepare and propose the factory overhead revenue budget

ØTrack cost through effective MIS on monthly basis & drive cost reduction and control objectives across the functions

ØMonitor and control factory level losses (material usage parameter) to optimize material cost

Ensuring effective compliance

ØImplement processes effectively to ensure correct availing of input tax credit (ITC) on all the purchases made by plant

ØFile statutory returns to Department of industrial policy and promotion

ØMaintain proper documentation as per companies act, other statutes and internal documentation guidelines

ØProvide necessary support to corporate taxation and Legal in related matters

ØEnsure compliance of applicable regulations to plant through internal compliance portal.

ØEnsure effective implementation and testing of RACM at plant.

Coordination and support for statutory audit

ØSupport to corporate accounts for conducting statutory audit of aspects pertain to plant

ØEnsure timely submission of quarterly financial closure certificate after due verification to corporate account

Effective Internal controls

ØConduct regular checks of internal control through process audits, surprise checks, data analysis of key control & participating in quarterly stock taking

ØProvide effective reporting of statutory compliance applicable to plan

ØConduct capex benefit assessment for major capital expenditures

Commercial activities

ØParticipate in all major negotiation and vetting all major purchase contract applicable to plant

ØEnsure compliance to commercial and authority manual for all financial transactions applicable to plant.

ØCoordinate with Legal function for vetting of legal documents

People Management

ØSet promises of each team member based on plant vision and departments goal

ØConduct objective review of goal of each team member

ØCreate development plan for subordinates

ØIdentify training needs of subordinates

Other responsibilities

ØProvide necessary support to plant in term of resource provision to carry out day to day activities

ØHandle store operations by ensuring the store inventory availability

Adherence to timelines for submission of revenue budget

Adherence to budgets

Cost optimization opportunities through reduction of Material and overhead cost

No. of instance of non-compliances to the rule & compliance manual

Adherence to policy for records documentation

Adherence to timelines for preparation & implementation of risk mitigation plan

Cost saving through effective negotiations

Compliance to commercial manual

Effective goal setting & driving the goals among team members

Develop growth plan for subordinates

Scope of Work

a) Financial Scope (Range of financial spend) :

  • Revenue budget : 50-70 Crs per annum
  • Capex budget : 10-15 Crs per annum
  • b) People Management Scope (Range of no. of Direct / Indirect Reports) :

  • 5 to 6 officers
  • c) Geography Coverage (Country-wide / State-wide / Area-wide)

  • Plant
  • d) Corporate Coverage (Company-wide / Business Unit or Function-wide / Sub-function-wide / Other) :

  • Supply chain-Decorative business unit
  • Internal

  • Engineering purchase
  • Corporate and local payroll
  • Plant Personnel function
  • Corporate accounts
  • Corporate secretariate and Legal
  • Corporate Taxation
  • Corporate audit
  • Plant admin function
  • Vendors
  • Local statutory bodies
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