Controller - Operations

Division

Finance

Department

Operations Finance

Sub Department 1

Manufacturing Finance

Job Purpose

Ensuring adequate control at site in co-ordination with Site finance leadership. Play crucial role in Monthly/Quarterly/ Half yearly/ Annual closing ensuring timelines as per corporate for Manufacturing locations. Work closely with internal Audit team to address the control weakness which are root cause of gaps identified in Audit. To ensure accounting Hygiene is maintained. Review of Capital Work in progress, advances, Debtors and highlight risk of impairment, write-off for taking corrective action.

Key Accountabilities (1/6)

• Review of SOC (System and Organisation Controls)
• Monitor and review existing internal and system controls at frequency.
• Designing, implementing and maintain new controls/ process for improvement in Financial Control
• Accuracy and completeness of accounting Hygiene
• Co-ordinating with Internal Audit and taking corrective action on internal Audit findings
• Adherence of company’s controls at Manufacturing location
• Monitoring and ensuing of DOA followed in defined areas
• Monthl visit to one site and review the process and control
• Co-ordinating with Statutory and Tax Auditor for various requirements
  
  

Key Accountabilities (2/6)

• Review of Capital Work in Progress
• Review of ongoing projects and identify risk of impairment in on-going projects
• Review of Delay in execution in project and highlighting for corrective action
• Provision for long running project basis internal Control policy
• Monthly review of Shift upload, Depreciation of impaired assets
  
  

Key Accountabilities (3/6)

• Manage effective Business Partnering to ensure adequacy and effectiveness of controls related to financial statements
• Consolidation and submission of Financial schedules for corporates and Auditor.
• Monitoring and ensuring timely completion of activities as per defined timelines related to monthly/Quarterly/ Annual Financial closing activities
• Expenses Variance submission to corporate for Manufacturing locations
• Review of open advances paid to vendor ensuring risk avoidance associate through proper monitoring.
  
  

Key Accountabilities (4/6)

• Review of contract and impact of change in cost
• Drive value chain analysis across all manufacturing sites for cost reduction
• Identify & assess opportunities for top spends through bench marking between locations.
• Analyse and ascertain the scrap contract and report the impact of change.
• Develop and establish best in class control framework & institutionalize control compliant culture
• Develop & Deploy DOA & IFC framework for the India Manufacturing site.
• Lead & review IFC & Internal audit for the India manufacturing function.
• Review contracts & identify gaps in processes for bridging internal control gaps.
• Benchmark internal control set up with best in class organization across sectors and implement improvement initiatives
  
  

Key Accountabilities (5/6)

• Partner with multi-functional team build controls and enhance the effectiveness of control
• Discuss with internal Audit / Site finance / central Engineering team on key area of control and gaps to develop, implement improvised control.
• Discuss with procurement for vendor management
• Discussion with FP&A and Capex , Corporate for implementation of internal accounting policy
• Drive IT automation for processes and prepare SOP to ensure activities are process driven
• Drive automation of reports through advanced IT platforms like Power BI.
• Manage automation of DOA implementation with core transactional activities.
  
  

Key Accountabilities (6/6)

• Monitoring of CSR and Corporate Environment Responsibility spend through Cipla Foundation
• Monitoring of Water neutrality project and CER project , getting independent Audit through third party, ensuring control over spend. Timely accounting of the same.
  
  

Major Challenges

• Difficulty managing and dealing with multiple stakeholders
  
  

Overcome by - monthly connects with MFT to discuss issues & align on action steps

• Manage and monitor open Advances .
  
  

Overcome by - discussion with Site finance and Engineering team and stakeholder to access the risk

• Unplanned detail asked from Auditors , corporate and CFT
  
  

Overcome by – basis the past experience data kept ready and discussing with Auditor their requirement in kick-off meet.

• Manage a very long tail of non-coded spend .
  
  

Overcome by - Proposed all procurement through coded material only.

• The deadline for internal and external reporting collide with each other which lead to missing deadlines.
  
  

Overcome by- Giving extra time from weekends for completing the tasks or ask for internal help

• Manage a large number of service vendors of manufacturing sites -
  
  

Overcome by – Have proposed and working on a service codification and harmonisation of rate contract for manufacturing.

• Interact with external stakeholders with varied & vested interests
  
  

Overcome by - Developing partnership with key partners and stakeholders.

Key Interactions (1/2)

INTERNAL

• Operation Finance head (need based) to discuss on monthly score card for Manufacturing site, Impairment of assets, open Audit points
• Corporate Accounting team: (Monthly) Monthly closing, compliance, Balance sheet schedules , Variance reporting, CWIP as per CARO- schedule III.
• Internal Audit Team (annually) for conducting audit.
• Legal Team (need based) to discuss on any specific agreement
• Procurement Team (need based) to discuss on new SOP, monthly tracking of coded Vs non Code material procured at Manufacturing site for engineering
• Finance shared services : GR IR reconciliation for recovery perspectives. Provision for write off/ write back. Vendor payment release
• Company secretarial team (Need based)for CSR spend, Integrated Annual report, Donation reporting for Annual report
• Site and Central Engineering team:
• For harmonisation of engineering control and codification of material and services
  
  

Key Interactions (2/2)

EXTERNAL

• Other Consultants (need based) for assisting consultant in driving the organisational goal through various process . In-licensing / Third Party Vendor: As and when required on various matters
• External Auditor (annually) on Audits & FC compliances
  
  

Key Decisions (1/2)

Decisions

• Adequacy and effectiveness of prevailing internal control established by IA team
• Decision on risk assessment with respect to Advance
• Decision on risk and approval of capex project
• Decision to have codification of services for rate comparison
• All decisions related to finalization of new contractor introduction through vendor rotating policy
  
  

Key Decisions (2/2)

Recommendations

• To Align on new control with IA and approved by GCFO
• Suggested to have secured advances and ensuring advances are paid only for key requirement
• Recommended to have proper project planning to avoid risk of obsolesce and impairment
• Proposal on realignment on supply chain and Central engineering team to work on the same
  
  

Education Qualification

CA / MBA from top institutes with 8-10 years of post-qualification experience

Relevant Work Experience

• 2-3 years in Manufacturing finance roles.
• 2-3 years in India finance roles or supply chain roles
• Practical knowledge of Ind As
• Financial and data analysis skills, Team and stakeholder management, decision making skills and knowledge of MS Office.,

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