- Location
- Chennai, SIPCOT Industrial Park, India
- Type
- Full-time
- Department
- Finance
- Seniority
- Senior
- Closing date
- Today
- Source
- Workday
Description
Product Costing & Standard Setting
• Develop, maintain, and update standard cost systems for a wide range of valves.
• Periodically review and update Bill of Materials (BOM) and routings to reflect current material prices and labor rates.
• Ensure accurate end-to-end product costing from raw materials (castings/forgings) to final assembly. Variance Analysis
• Conduct monthly variance analysis covering material price, material usage, labor efficiency, and overhead absorption.
• Investigate root causes for variances and present actionable insights to senior management. Inventory Management
• Oversee inventory valuation of Raw Materials, Work-in-Progress (WIP), and Finished Goods.
• Coordinate with Supply Chain and Operations for periodic physical stock verification.
• Perform reconciliation between physical stock and book records and investigate discrepancies.
• Manage provisions for slow-moving and obsolete inventory.
• Analyze yield loss, wastage, and inventory turnover to optimize working capital. Budgeting & Forecasting
• Lead the annual plant budgeting process and quarterly forecasting cycles.
• Develop financial models and “what-if” scenarios for new products and manufacturing process changes. Cost Reduction & Lean Manufacturing
• Identify inefficiencies across production lines and costing processes.
• Collaborate with Engineering and Production teams to implement cost-saving initiatives through value engineering and lean principles. Pricing Support
• Provide accurate and detailed cost structures to Sales and Marketing teams.
• Support techno-commercial offers and competitive bidding processes. Compliance & Audit
• Ensure compliance with Cost Accounting Standards (CAS), internal controls, and statutory requirements.
• Lead preparation and completion of annual cost audits as per the Companies Act.
• Maintain complete and accurate cost records for audit and regulatory purposes. Pricing Support
• Provide accurate and detailed cost structures to Sales and Marketing teams.
• Support techno-commercial offers and competitive bidding processes. Compliance & Audit
• Ensure compliance with Cost Accounting Standards (CAS), internal controls, and statutory requirements.
• Lead preparation and completion of annual cost audits as per the Companies Act.
• Maintain complete and accurate cost records for audit and regulatory purposes. Procure-to-Pay (P2P) Management
• Oversee Procure-to-Pay activities including PO verification and invoice processing.
• Ensure timely vendor payments, vendor reconciliations, and correct TDS deductions.
• Strengthen internal controls to prevent unauthorized payments. GST & Statutory Compliance
• Manage end-to-end GST compliance including GSTR-1, GSTR-3B, GSTR-9, and GSTR-9C.
• Perform monthly reconciliations between books and GSTR-2B to maximize ITC eligibility. • Handle GST audits, notices, scrutiny, and appeals.
• Oversee E-invoicing and E-way bill compliance across registrations. • Manage import/export documentation and customs duty compliance, including HS code classification.
Team Management • Lead, mentor, and develop the finance and accounting team.
• Define KPIs, conduct performance reviews, and ensure workload distribution across AP, inventory, and compliance functions. • Act as a key liaison between Finance, Procurement, Supply Chain, Production, and Sales teams.