Commercial Financial Controller

About the Role
The primary purpose of this role is to oversee and contribute to the factory’s financial planning, budgeting, cost management, and reporting activities. This includes ensuring accurate cost allocation, optimal use of resources, and adherence to accounting standards to support profitability and improve operational performance.

Key Accountability Areas
Budgetary Control System:

• Manage budgets, accounts, and financial operations across production units to meet internal reporting needs and external requirements from regulatory and statutory bodies.
• Coordinate the development of annual and long-term operating and capital budgets for the factory, ensuring alignment with production plans and resource optimization.

Costing & Inventory Control:

• Oversee product costing, bill of materials (BOM), and work with production and procurement teams to analyze cost variances and improve cost accuracy.
• Ensure accurate valuation of raw materials, work-in-progress (WIP), and finished goods inventories.
• Set and monitor cost center allocations, overhead distribution, and internal transfer pricing.

Fixed Assets & Capital Expenditure Analysis:

• Manage fixed asset records including asset tagging, depreciation, and capital expenditure (CAPEX) tracking across factory operations.
• Ensure correct classification of capital vs. operational expenses and apply appropriate depreciation methods based on asset types and usage.

Forecasting & Profitability Analysis:

• Contribute to financial forecasting processes by analyzing production capacity, demand trends, and material costs.
• Conduct profitability analysis of product lines, departments, or processes and recommend adjustments to improve margins.
• Perform variance analysis between budgeted and actual figures to assess performance and identify trends.

Cost Control:

• Monitor production cost efficiency against set budgets and KPIs, highlighting deviations and recommending corrective measures.
• Identify opportunities for cost savings in materials, labor, and overhead through collaboration with production and procurement teams.

Reporting & Compliance:

• Prepare and review periodic financial and management reports tailored to factory operations, including cost reports, inventory movement, and production efficiency metrics.
• Ensure compliance with applicable accounting standards and internal control procedures.
• Supervise the year-end closing process, including preparation of final accounts and variance reports.

Role Accountability
HR Proficiency:

• Ability to recruit, recognize and cultivate high performers, while being able to guide low performers to improve or release them.
• Treat subordinates equally without discrimination, assessing performance based on planned results.
• Ensure availability of delegation of authority matrix to have sufficient delegations as per company policy.

Responsibility:

• Must take full responsibility for operations as per the job description and the required deliverables, considering general company guidelines.
• Anticipate problems and take proactive steps to prevent them; make timely decisions.

Delivery:

• Deliver required results in a timely manner, ensuring quality and cost efficiency.

Making a Tangible Difference:

• Make a tangible difference in the area of operation and exceed business expectations.

Business Planning and Performance:

• Transform corporate goals into actionable business plans and monitor their execution, providing periodic work progress reports.
• Monitor and control budgets and expenses to achieve optimal cost efficiency.

Organizational Development:

• Develop the organizational structure according to current and future requirements, ensuring availability of job descriptions for all roles.

Business Process Improvements:

• Coordinate the development of well-defined systems, policies, and procedures, seeking automation opportunities where possible.
• Promote the use of automated systems to spread its culture within the organization.

Quality:

• Recognize quality as a prime competitive advantage and act accordingly.

Adaptation:

• Adapt to new techniques, technologies, management structures, and business models.

Health, Safety and Environment:

• Ensure a safe, secure, and legal work environment in compliance with standard regulations.

Academic Qualification:

• Bachelor Degree in Accounting and Finance or any relevant field.

Work Experience:

• 6 to 10 years.

Technical / Functional Competencies:

• Accounting Theory/Concepts
• Financial Analysis
• Financial Reporting
• Cost Control