Head of Finance, India

Our client is a public listed US-headquartered MNC in the industrial manufacturing sector.

The Head of Finance India, is a key member of the India leadership team and of the APAC financial management team with specific responsibility to manage the P/L accounts, provide financial leadership, oversight, control and reporting for the India Businesses with combined operating revenue of USD 150M and multiple manufacturing sites.

The Head of Finance's analysis and insights are essential in developing the overall business strategy and evaluating a range of opportunities that support the business activities. Areas of responsibility include, but are not limited to, operational controllership, cost accounting, commercial terms & conditions review, oversight and optimization of the transactional accounting function, staff development, working capital management, economic analysis and justification of capital investments.

MAJOR RESPONSIBILITIES

Business Performance/Planning/Budgeting/Reporting:

• Works closely with the Country Management Team to provide insight and recommendations on the financial aspects of the business to the respective management teams in order to optimize performance.
• Interpret cost trends and develop analysis to identify trends/issues along with recommendations for corrective actions and tracking progress on execution.
• Oversee the preparation and presentation of financial data and profitability reports and analysis to Corp, Regional and Segment leadership, ensuring all internal and external reporting obligations are met. Present Budget, Forecast and Monthly Financial information to Corp, Regional and Segment Management.
• Monitor achievement against plan, advise management of deviations and recommend action plans to reestablish performance objectives in line with agreed targets.
• Financial statement reviews, key performance indicators and analysis, margin reconciliations and monthly business unit and segment reviews.
• Lead annual strategic and business planning processes and quarterly rolling forecasts to ensure alignment with strategic plans.

Operational Support:

• Participates in cost and pricing strategies to optimize commercial aspects of proposals. Monitor key industry drivers to maximize profitability by realizing opportunities and mitigating risks.
• Support acquisition activities as required to ensure the correct valuation is attained and effective business integration is achieved.
• Support the development and implementation of processes and procedures to enable accurate monitoring and evaluation of the performance of investments and acquisitions.
• Recommend and implement tax efficient models and business structures.

General Accounting:

• Ensure close scheduled timing is adhered to.
• Ensure timely submission and accuracy of consolidated management and statutory reports.
• Oversee cost systems and ensure proper mapping and updates; product hierarchies etc.
• Direct and oversee accounting and finance activities for India entities
• Actively be involved in the interpretation of statutory requirements and in addressing complex financial issues as they arise.
• Responsible for financial support of multiple operating entities through a financial shared service department.
• Assess develop, implement and manage the accounting system for India in alignment with corporate and statutory standards and requirements.
• Oracle project leader, coordinate with Manufacturing, Marketing, Costing and Finance to drive the improvements to the current Oracle system; reports, standardization, and chart of accounts.
• Reorganize the finance function for FP and PT to more effectively address business needs, while reducing overall finance costs through a shared service organization.

Corporate Governance:

• Ensure consistency of accounting standards across India and that are aligned to Regional, Corp and statutory policies.
• Ensure proper controls and governance are integral to the culture of the finance and India leadership team.
• Conduct detailed B/S reviews two times per year.
• Review key controls and policies yearly for amendment if required based on business conditions.
• Conduct and oversight an audit of all key processes once per year.

Cash Management:

• Oversees working capital utilization to achieve desired economic returns and effective management of inventory and cash flow. Set KPI targets and ensure results are met for DSO, past due, DPO, OPC and WC.

Commercial and Risk Management:

• Ensure robust internal and external control processes are in place to reduce errors in accounting and reduce operational risks.
• Streamline and improve on controls and business processes.
• Ensure appropriate commercial and risk management processes are in place across India entities and support the business in the management of material commercial judgments and actions.
• Ensure that the Corporate Delegation of Authority Matrix is properly deployed and implemented.

Statutory/Compliance:

• Oversees India LE governance and compliance with Corporate standards, US GAAP and Sarbanes-Oxley.
• Ensure timely and accurate LE reporting and submission of statutory and compliance reports; tax, social insurance and others.
• Ensure LE compliance with Corp and regulatory policies.
• Advise Region of implications of changes to tax legislation on business and business model along with recommendations on remediation.
• Requires close coordination with external agencies; statutory auditors, tax auditors, and others whom produce statutory filings on behalf of the company.

Supervisory Responsibilities:

• Strong people manager able to build and manage a team in a diverse region with direct and in-direct reporting line. Able to acquire, develop, and retain capable and motivated financial staff.
• Management of team, to include interviewing, hiring, performance evaluations, mentoring, and taking disciplinary actions when and if required for violations of trust or poor performance.
• Establishing clear succession planning and review for all management layers in the teams.
• Improve performance of finance teams at each site by working on individual development plans
• Travel and significant time required at sites for direct supervision and guidance of the entities on Corporate Governance.

MAJOR REQUIREMENTS

• Degree in Finance with a Professional degree (CPA/ CA)
• 15+ years of experience of increasing controllership related responsibilities in a manufacturing environment with significant India manufacturing and commercial exposure/assignment experience.
• Public accounting experience is a plus.
• Experience in a senior leadership capacity as a controller or director in a multi-business unit, in a modern manufacturing environment, with a tier 1 ERP system similar to SAP/Oracle.
• Excellent communication and presentation skills are required in order to interact and influence with all levels of management
• A high level of analytical ability is required due to the complexity of analysis required and substantial attention to detail to ensure accuracy and completeness of information.
• Significant innovation and entrepreneurial acumen is required to develop systems and improve processes and drive continuous operational and profit improvement projects that optimize and support the business model and direction.
• Experience in managing a sizeable Finance department (20+ headcount)
• Responsible for empowering, developing, mentoring and increasing competency of the finance leadership/teams in the Country
• Experience in transitioning a finance organization to a Shared Services model and over sighting the deliverables from a Shared Service Organization.
• Experienced in India tax and customs requirements.
• Strong technical accounting and reporting capabilities in conjunction with broad manufacturing experience and judgment to understand key cost and activity drivers of the business in order to accomplish goals and achieve profit and operational targets.
• Strong leadership, interpersonal and people management skills.
• Ability to think and execute strategically with ability to link corporate and regional business strategies with detailed financial plans.
• Must be able to work with various nationalities, be culturally adaptable and experienced in working collaboratively in a multi-location, multi-functional organization.
• High integrity and ethics.
• Good EXCEL and PPT skills required.

*Please attach updated CV with application