Job Title

FINANCE CONTROLLER – ROLES AND RESPONSIBILITYFINANCE CONTROLLER is a business process facilitator for optimum resource utilization to ensure achievement of financial deliverables, protect company’s assets and ensure statutory compliances.Qualifications: CA, CMA, or MBA in Finance with relevant experience.Experience: 5-10 years of experience in finance, preferably in the textile manufacturing industry.Skills: Strong analytical, problem-solving, and communication skills.OBJECTIVES OF THIS ROLETake responsibility (either directly or via staff) for all cash management, investments, insurance, budgeting, and financial reporting, and help drive the company’s financial strategyCoordinate development of annual operating and capital expansion program budgets, as well as reporting for the sameEnsure cash flow is compatible with operations by overseeing day-to-day accounting, recording, reporting, and internal-control activities of the organizationKEY RESPONSIBILITIESInvestment EvaluationsPrepare the annual financial plan / budget in line with the business strategy and get the necessary approvals from the MD / BoardPlan for investment needs in tune with the annual plan in collaboration with the business headsEvaluate investment feasibility, present the investment case to the MD / Board and get necessary approvals for funding capital expenditureMonitor the progress of project implementations in terms of fund utilization and understand any delays on the project progress and the financial implications of the delaysCash Flow ManagementEnsure that the business is well funded through proper cash flow from operations and long term funds for investment needsEnsure timely and error free collection of receivables of the business and proper credit control is implemented and followedEvaluate and finalize the best funding options with financial institutions and other alternate funding optionsMonitoring Profitability of BusinessDefine the budgetary allocations and controlsMonitor the budgeted top line performanceMonitor the operating expenses to maximize the marginsMonitor the non-performing assets and take appropriate actionDefine cost control measures and explore cost saving / cost reduction strategiesControl overhead costsAnalyze and report variances in profitability to all the stakeholdersDefine the process of insuring all business related risksEnsure coverage of all insurable risks of the organizationMaintaining Internal Controls and Processes Define processes for proper work flow planningDefine processes to ensure validation of financial transactionsDefine processes for periodic review of books of account and other statistical recordsEnsure internal audits take place on time and also ensure adherence of the processes to the audit requirementsEnsure integrity and hygiene of financial data and books as per the required standardsReporting & MISDefine and develop the format and content for various operational reportsDefine the process for effective and timely management of information from the reports and validation of the informationStatutory Compliances Ensure all tax / non-tax and legal compliances are metHandle assessments, audits and litigations related to the businessPeople ManagementBuild, nurture and groom the team to ensure the required performance standards are metKEY RESULT AREAS ( KRAs) and KEY PERFORMANCE INDICATORS (KPIs)For a Finance Controller, Key Result Areas (KRAs) and Key Performance Indicators (KPIs) may include:Particulars of Role1Financial Planning and AnalysisDevelop and execute financial strategies to ensure sustainable growthAccuracy of financial forecasts.Timeliness of budget preparation and adherence to budgets.Analysis of financial trends and performance metrics.2Treasury ManagementEnsure efficient cash flow management and optimal utilization of fundsCash conversion cycleWorking capital ratioReturn on investment for surplus funds3Risk ManagementIdentify and mitigate financial risks to protect company assetsEffectiveness of risk management strategiesCompliance with regulatory requirementsReduction in financial losses due to risk exposure4Financial ReportingProvide accurate and timely financial reports for decision-makingAccuracy and timeliness of financial statements (income statement, balance sheet, cash flow statement)Compliance with accounting standards and regulationsAudit ratings and findings5Cost ManagementImplement cost control measures to optimize operational efficiencyVariance analysis of actual vs. budgeted costsCost reduction initiatives and savings achievedCost per unit produced or processed6Strategic Financial LeadershipCollaborate with executive team to drive strategic initiatives and investmentsContribution to strategic decision-makingROI on strategic projectsAlignment of financial objectives with overall company goals7Stakeholder RelationsBuild and maintain relationships with investors, lenders, and other stakeholdersInvestor satisfaction surveysSuccessful debt financing initiativesPositive feedback from stakeholders on financial transparency and communication8MIS Implementation and ManagementImplement and maintain effective MIS systems to support decision-making and enhance operational efficiencyTimely implementation of MIS projectsUser satisfaction with MIS functionalitiesReduction in manual data entry errorsImprovement in data accessibility and reliability