Business Controller

Role Title

  Business Controller

Division

Transformers

Reporting to

Costing Head

(Functional)

Business Unit Head (Administrative)

Location

Airoli, Navi Mumbai

Education:   Any Engineering (preferably Electrical) + ICWA or MBA-Finance or CA

Years of Experience:   12+ years of experience with a minimum of 4+ years supporting financial operations of a business unit   

Define financial standards and processes at Unit level and provide comprehensive financial support to the Business Unit ensuring that fiscal discipline is maintained in all operations

Responsibilities

·   Ensure adherence to financial standards & processes of the organization at the business unit level

·   Define financial standards and processes specific to the business unit, drive implementation and ensure adherence   

·   Provide inputs into formulation of a budget for the business unit based on current use and estimated future requirements

·   Assist Business Unit heads in the business planning process by estimating projected revenue and profitability

·   Check the accuracy of various financial documents to ensure legal and statutory compliance (for e.g. LD and PVC)

·   Monitor adherence to capital expenditure and operating expenditure budgets on an ongoing basis and highlight deviations, if any

·   Provide inputs towards pricing exercise and interact with execution teams to ensure that cost projections are appropriately utilized

·   Lend expertise in determining margins for customized products / systems and stock and sell products

·   Oversee timely preparation of all financial documents in line with statutory regulations, corporate policies and procedures for the business unit

·   Prepare detailed financial reports based on unit financial data to facilitate tracking of results and aid in management decision making

·   Support sales and recovery processes involving ensuring that invoices are generated and dispatched to customers in a timely manner to facilitate collections

·   Liaise with the sourcing team to ensure timely payments are made to vendors in line with contractual terms and conditions

·   Examine proposals for new product development for financial concurrence

·   Work closely with the Business Unit Head to analyze business strategies, expansion plans and other initiatives providing timely and accurate input on the financial parameters involved

·   Lend expertise to the Head – All India Sales & Marketing towards determining an appropriate price for tenders

·   Assess and mitigate financial and fiscal risks of key tenders prepared by the Unit

·   Advise Management of financial risks in order to protect the Unit from financial risk exposure whilst managing business opportunities

·   Liaise with sales teams and monitor receivables on an ongoing basis to ensure tight fiscal control; Highlight outstanding amounts to the Business Unit Head for further action

·   Provide support towards cost reduction initiatives at the business unit level and monitor achievement of cost reduction targets

·   Provide inputs towards inventory and asset valuations and assist in calculating depreciation on Unit’s fixed assets

·   Lend expertise in budgeting and costing for projects to ensure the process is comprehensive and significant profit is made

·   Participate in key project reviews in order to ensure risks are known and mitigated and minimize project margin deteriorations

·   Monitor and report on periodic overheads of the Unit and provide feedback to Business Unit Heads

Sr. No

Key Result Areas

Key Performance Indicators

1.

Provide assistance in budgeting and reporting to the business unit

Number of instances of non compliance to organization financial standards and processes

% adherence to budgets

2.

Ensure healthy financial performance of the Business unit

Return on capital employed

Return on Assets: PBT / Total Assets

% adherence to targets: Cash Reserves, Cash Inflow,  Cash Outflow etc.

% adherence to targets for collections

Value of bad debts

3.

Generate financial reports to facilitate decision making

Adherence to timelines for submission of reports

Accuracy of reports

Cost incurred due to faulty production practices as a % of total operational cost

4.

Enhance financial and process efficiency

% accuracy in developing tender responses

% reduction in transaction costs incurred   

Cost savings as a result of BU level initiatives initiated

Cycle time for payment to vendor once invoice is received