Finance
BUSINESS: Industrial Pumps- India
LOCATION: Daman
DIRECT REPORTING: Director - Finance
FUNCTIONAL REPORTING: Sr. Director - Plant
Position Summary
This position based in Daman & provides an overall disciplined approach to ensuring that the business unit and/or function performance is measured, analyzed and develops key counter measures. This position owns the financial and operational metrics, the budgeting and the forecasting processes. This position plays a critical role in strategy development, and the annual strategy deployment process with the Daman Leadership Staff. In addition, they are responsible for developing and maintaining a world class finance team.
The finance leader and the finance team will ensure full reporting compliance, proactive review and recommendation of financial improvement opportunities and full analysis and support of new business growth strategies, including acquisition, product / business investment and improvement in cost base efforts.
Principal Activities
- The position is responsible for the general accounting function, which includes inter-company shared services accounting, cash management/reconciliation, financial reporting, balance sheet management, management reporting, transfer pricing, payroll etc.
- Responsible for ensuring that policies and procedures (internal controls) as per SOX / ICFR requirements are in place to provide reasonable assurance that the company assets are protected.
- Ensures that financial records are maintained in compliance with company policy, US GAAP and Indian GAAP.
- Work with the leadership team in developing the annual business plan. Lead the preparation of the annual budget, including expense and capital spending, components of cost of sales, inventory, staffing, cost reductions, restructuring etc. Lead the monthly forecasting process and track performance to forecast and budget.
- Prepare, understand, and explain reports for monthly, quarterly and year-to-date performance-to-plan, forecast and prior periods. Includes analyzing variances, profitability, customer order status, spending, staffing, inventory turns, and other related metrics. Initiate and implement timely corrective actions with management to capitalize on opportunities.
- Coordinate financial audit and business process controls audit activities with internal and external audit firms and Circor. Responsible for the implementation of agreed upon recommendations resulting from the audit findings.
- Ensure statutory compliance to direct/indirect tax, GST, transfer pricing, permanent establishment (PE) and other requirements.
- Examine all financial reports and data closely to check for discrepancies
- Create robust systems to prevent errors in data collection and calculations
- Lead the efforts to reduce working capital and increase asset turns while ensuring proper accruals. Implement improvements for inventory cost accounting by applying relevant product costing methods.
- Support the preparation of capital expenditure requests. Track spending and savings for approved projects.
- Work closely with the corporate tax function to maximize tax benefits to Circor.
- Works closely with corporate and business unit finance on compliance, reporting, costing, transfer pricing and others. The position also maintains relationships with banks and audit firms.
- Assures that positive employee relationships are maintained. Ensures that the company’s management principles, policies, and programs are consistently practiced.
- Motivates direct reports, provides coaching and counseling.
- Work effectively between internal functions and corporate/group Controller with timely and accurate financial information. Assist the CFO in presenting reports to senior executives, stakeholders, board members.
- As a key business partner to the leadership team, participate in the development of business strategies and strategy deployment.
- Ensure that the accounting department is staffed with qualified financial personnel capable of meeting the objectives and responsibilities of the function.
CANDIDATE REQUIREMENTS
Knowledge Skills & Abilities
Leadership evidenced by high level of integrity, clear understanding of the business, demonstrated attitude to put the customer first, ability to make complex decisions and deal with ambiguity, focus on achieving priorities, team oriented, organized.
Clear ability and bias to execute and mentor performance through repeatable process and continuous improvement activities.
Ability to influence, escalate issues and ideas, and persuade cross-functional executives and managers. Readily voices opinions (supported by facts) even if a minority view and able to positively manage conflict. Willing to challenge and persuade others on alternative solutions / courses of actions
Demonstrated ability to hire, mentor and develop financial talent
Education & Experience
Education: CMA / CA
Experience: 8 - 10 years of progressive leadership roles in Finance, preferably in American multinational companies. An advanced degree in economics /finance, tax or accounting; or a CA / CMA or similar certification.
CIRCOR is an EEO Employer of Females / Minorities / Veterans / Individuals with Disabilities
