Factory Finance Manager for international FMCG companyJOB TITLE : FactoryFinanceManager
REPORTS TO : Supply Finance Controller
FUNCTION : Finance
LOCATION : Factory, South Africa
LEVEL : Senior Supply Finance Analyst
DATE : Mar2015
PURPOSE OF THE ROLE:
- To support the Unit Head by providing the finance / commercial perspective from the finance point of view in all matters pertaining to the unit and provide inputs to the Unit Head in managing the operations of the factory on a day to day basis and provide finance and commercial services to manufacturing activities being undertaken. Ensure timely and accurate preparation of accounts to meet Business / Factory targets. To be the service resource to the operations team and an internal auditor within the system to ensure implementation & compliance with Company's internal policies / guidelines including related statutes.To co-ordinate with the Supply Finance Teamin the areas of procurement, logistics, sourcing, tax matters, statutory compliance, vendor payments, cost allocations, factory performance indices etc.
- To be over all responsible for facilitating setting-up controls, systems& processes and compliance of the same to ensure smooth functioning of South Africa Factory operations.To guide & develop subordinates.
- Pro-active identification and mitigation of risks.
KEY RESULT AREAS
Value Capture / Addition Role
- Assist in formulation of Budget financials for the factory
- Systems & Controls - Streamline systems & controls and assist in formulation of SOPs in related areas of work
- Monitor key performance metrics such as conversions costs, energy costs, manpower deployed, variances, wastages etc. and use the analysis together with the factory manager to lay down performance metrics for the unit
- Self development and development of people
Risk &Mitigation Role
- Ensure statutory compliance in commercial and area of operations in South Africa factory
- Ensure proper insurance coverage of all assets in South Africa factory
Service & Support Role
- Oversee all commercial and accounting activities to ensure timely preparation and closing of books of accounts
- Responsible for co-ordinating internal and statutory audits of the factory operations
- Responsible for timely and accurate preparation of MIS and Performance Review data for the factory
- Responsible for ensuring Inventory accuracy and proper verification of inventory and fixed assets at the factory
- Responsible for ensuring " No PO No Pay"
OBJECTIVES :
For Value Capture / Addition Role
- Assist in formulation of Budget financials for the factory
- Assist various departments in calculation of budgets , validate assumptions
- Consolidation & Finalization of Unit Plan / Budget for South Africa Factory.
- Review and monitor spends against budgets and highlight variances for corrective actions
- Systems, Processes& Controls - Streamline systems, processes& controls and assist in formulation of SOPs in related areas of work
- Responsible for ensuring compliance with internal control guidelines and systems requirements through conducting surprise checks and highlighting areas of non-compliance for immediate action in a pro-active manner
- Responsible for drafting SOPs in commercial related operations of the factory
- Review all SOPs in commercial areas and make necessary amendments / modifications / up-dations on an ongoing basis
- Self development and development of people
- To remain abreast of latest developments in the accounting function including release of new standards, guidelines etc. by the accounting bodies / institutes and brief the team on the same
- To ensure that team members are equipped with appropriate knowledge to facilitate operations and provide guidance and assistance in their operational area
- To identify training needs of sub-ordinates and facilitate the training
For Risk & Mitigation Role
- Ensure statutory compliance in commercial and other area of operations in South Africafactory
- Review on an ongoing basis the statutory compliance checklist for updation and inclusion of provisions of any new applicable statutes
- Carry out surprise checks to ensure compliance of applicable statutes by respective operating team members
- Ensure timely submission of statutory returns and timely deposit of statutory dues
- Ensure compliance of all applicable commercial statutes
- Prompt impact analysis and intimation to SAleadership team on changes / modifications in the local statutes
- Ensure proper insurance coverage of all assets in South Africa factory
- Review on an ongoing basis to ensure appropriate insurancecoverage of all assets in co-ordination with HO
For Service & Support Role
- Oversee all commercial and accounting activities to ensure timely preparation and closing of books of accounts
- Review Trial Balance of South Africa operations and ensure correctness of the balance reflected against GL codes and timely recovery of advances / deposits etc. and do necessary follow-up
- Ensure timely closure of books of accounts
- Responsible for co-ordinating internal and statutory audits of the factory operations
- Co-ordinate internal and statutory audits related to factoryoperations and ensure proper implementation of audit points
- Ensure proper preparation of all schedules required for financialaccounts and audit
- Ensure compliance with all accounting standards / norms
- Responsible for timely and accurate preparation of MIS and Performance Review data for the factory
- Efficiency monitoring - yield analysis (Eg - RM Yield, PM yield, spares consumption, power generation & consumption etc) and interacting with the manufacturing team at South Africa Factory in order to drive cost efficiencies
- Responsible for timely and accurate generation of MIS reports tofacilitate smooth review of factory operations and highlight deviations / variances from standards/targets for corrective action
- Conduct proper analysis of factory PE and conversion costs andhighlight deviations from targets for action
- Benchmark toContact Manufacturing Units& between other COMPANY owned Plants vis-a-vis over-fills, yields, rejections etc.
- Facilitate analysis of daily production reports
- Facilitate analysis of manufacturing variances against standards
- Generate detailed MIS for South Africa factory operation on a monthly basis and prepare Dashboard for the same
- Responsible for Inventory accuracy and ensuring proper verification of inventory and fixed assets at the factory
- Ensure timely conduct of physical verification of inventory andfixed assets as per Company policies and ensure proper reconciliation with the JDE / System records of inventory and fixed assets
- Review of ageing of Inventory of RM/PM/Spares/FG and highlight to Supply team for appropriate intervention to avoid inventory obsolescence and ensure optimization of warehouse space by preparation, finalization and circulation of the monthly ageing report within stipulated date.
- Aid and facilitate operations with specific focus on meeting expectations of Customers - both internal and external
Key Performance Indicators
- Timely reporting of factory PE and other operational indices by ___ of every month
- Timely completion of books of accounts including audit
- Completion of physical stock take at month end within ___ days of close of the month
- No discrepancies between book stock and physical stock and timely reconciliation including entries
- Initiation & completion of Strategic Cost Management initiatives as agreed
- Statutory Compliance - No statutory violations
- No of Internal Audit Points and their implementation
- No payment is processed with adequate PO in place for same.