Job Description of Finance Manager
Position: Finance Manager
Location: Vithal Udyognagar, Anand, Gujarat
Reports To: CFO / Director
Company : Vidya Wire Ltd
Job Summary:
The Finance Manager is responsible for overseeing and managing the financial health of the manufacturing company. The role involves managing accounting, budgeting, financial planning, cost control, compliance, and risk management. This role extends beyond finance and accounting to include responsibilities in Stores, Dispatch, Sales & Marketing, EXIM, Purchase and other related functions. Thee Finance Manager ensures accurate financial reporting, efficient working capital management, and adherence to regulatory requirements.
Key Responsibilities:
1. Financial Management & Reporting
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Oversee financial planning, budgeting, and forecasting.
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Oversee and manage financial statements, including P&L, balance sheet, and cash flow.
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Prepare monthly, quarterly, and annual financial reports.
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Ensure timely and accurate financial closing and reporting.
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Optimize banking relationships and oversee loan/credit facilities.
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Analyse financial data to support decision-making and business strategy.
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Develop strategies for cost reduction and profit maximization.
2. Budgeting & Forecasting
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Develop and monitor annual budgets and forecasts.
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Conduct variance analysis and recommend corrective actions.
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Work closely with other departments to align financial plans with business objectives.
3. Costing & Profitability Analysis
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Monitor product costing, raw material costs, and overheads.
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Evaluate and optimize cost structures and improve cost efficiency.
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Conduct profitability analysis by product, plant, and division.
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Ensure competitive pricing strategies through cost assessment.
4. Accounts, Taxation & Compliance
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Ensure compliance with GST, Income Tax, TDS, and other statutory regulations.
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Manage & liaise with auditors, tax consultants, and regulatory authorities.
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Oversee tax planning and filing of returns.
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Ensure compliance with accounting standards (IND AS, IFRS).
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Implement internal financial controls and SOPs.
5. Internal Controls & Risk Management
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Implement and monitor internal financial controls.
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Ensure adherence to corporate governance and risk management policies.
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Conduct internal audits and risk assessments to mitigate financial risks.
6. Working Capital & Cash Flow Management
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Monitor and manage cash flow to ensure liquidity.
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Oversee accounts receivable, payable, and inventory management.
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Optimize working capital and manage banking relationships.
7. Financial Strategy & Decision Support
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Provide financial insights to support strategic business decisions.
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Evaluate investment proposals, CAPEX decisions, and cost-saving initiatives.
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Support pricing strategies and contract negotiations.
8. Stores & Inventory Management
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Monitor inventory levels and working capital optimization.
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Ensure efficient procurement and inventory cost control.
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Implement inventory valuation and stock reconciliation processes.
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Work with store managers to reduce wastage and pilferage.
9. Dispatch & Logistics
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Coordinate with dispatch teams to ensure timely delivery of finished goods.
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Optimize transportation costs and improve supply chain efficiency.
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Monitor logistics expenses and ensure cost-effective distribution.
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Implement controls to track goods movement and invoicing accuracy.
10. Sales & Marketing Support
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Provide financial insights for pricing strategies and discount approvals.
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Analyse customer profitability and sales margins.
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Ensure credit control policies for receivables and debt collection.
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Monitor revenue performance and align with business targets.
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Support sales teams with financial reports and sales trend analysis.
11. EXIM (Export & Import) Management
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Oversee forex management and currency risk mitigation.
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Ensure compliance with export/import regulations and documentation.
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Manage LC (Letter of Credit), bank guarantees, and international payments.
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Optimize duty drawbacks, export incentives, and custom clearances.
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Coordinate with logistics and supply chain teams for smooth international trade operations.
12. Purchase & Vendor Management
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Approve procurement budgets and supplier payments.
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Ensure cost-effective purchasing decisions and supplier negotiations.
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Monitor vendor contracts and credit terms.
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Implement financial controls to prevent over-purchasing or fraud.
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Evaluate supplier financial health and pricing competitiveness.
13. ERP & Financial Systems Management
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Ensure efficient use of ERP systems for financial transactions.
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Drive automation and digitization of financial processes.
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Improve reporting and analytics through ERP tools.
Qualifications & Skills:
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Chartered Accountant (CA) / MBA - Finance is preferred.
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8-10 years of post-qualification experience in financial management, preferably in a manufacturing company.
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Strong knowledge of financial accounting, taxation, and cost management.
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Expertise in financial planning, budgeting, and forecasting.
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Experience with ERP systems (Microsoft Dynamics Business Central 365, Microsoft Dynamics Navision, etc.).
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Excellent analytical, problem-solving, and leadership skills.
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Strong understanding of compliance and regulatory frameworks.
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Ability to work collaboratively with cross-functional teams.
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Accuracy and timeliness of financial reporting.
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Cost reduction and profitability improvement.
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Compliance with statutory and internal audits.
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Efficiency in working capital and inventory management.
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Sales margin and credit risk management.
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EXIM compliance and cost efficiency in international transactions.
