Roles and Responsibilities :
- Develop, implement, and maintain financial models to support budgeting, forecasting, and long-term strategic planning for the factory.
- Analyze financial performance against key metrics, identify trends, and provide actionable management insights.
- Monitor and report on variances between actuals and budgets, and recommend corrective actions as needed.
- Oversee cost accounting activities to ensure accurate costing of products and efficient allocation of resources.
- Collaborate with operational teams to identify opportunities for cost reduction and process improvement.
- Implement cost control measures and monitor their effectiveness over time.
- Prepare timely and accurate financial reports, including monthly, quarterly, and annual financial statements.
- Ensure compliance with relevant accounting standards, regulations, and internal policies.
- Present financial results to senior management and provide explanations for key variances and trends.
- Manage inventory valuation and reconciliation processes to ensure the accuracy and reliability of inventory data.
- Work closely with the supply chain and production teams to optimize inventory levels and minimize carrying costs.
- Develop and implement inventory control procedures to prevent shrinkage and obsolescence.
- Forecast cash flows and manage liquidity to meet operational needs and financial obligations.
- Monitor accounts receivable and accounts payable to optimize working capital and minimize risks.
- Implement cash management strategies to maximize returns on surplus funds and minimize borrowing costs.
- Ensure compliance with taxation, legal, and regulatory requirements related to financial operations.
- Coordinate with external auditors and regulatory agencies to facilitate audits and inspections.
- Develop and maintain internal controls to safeguard assets and mitigate financial risks.
- Recruit, train, and mentor a team of finance professionals to support factory finance operations.
- Foster a culture of accountability, collaboration, and continuous improvement within the finance team.
- Provide guidance and support to team members, and promote their professional growth and development.