Finance Manager
Confidential
Published Date: • Faisalabad, Pakistan (On-Site)
Description
The Finance Manager leads the financial planning, analysis, and reporting functions, ensuring the organization’s financial health and compliance with regulatory requirements. This role requires a seasoned professional with at least ten years of experience, preferably ACA qualified or a CA Finalist. The Finance Manager oversees budgeting processes, forecasts future financial trends, and develops strategies to drive business growth. Managing a team of four, the Finance Manager facilitates collaboration and ensures timely and accurate financial information to support executive decision-making. In this position, clear and effective communication is essential, as the Finance Manager coordinates with various departments and presents financial insights to stakeholders. The role entails maintaining financial controls, identifying cost-saving opportunities, and ensuring that financial practices comply with industry regulations and company policies. The individual must exhibit strong leadership skills to mentor and guide their team toward achieving departmental goals.
Responsibilities
A. Financial Planning & Management
- Develop and implement financial strategies aligned with the company's business objectives.
- Prepare annual budgets, financial forecasts, and long-term financial plans.
- Monitor actual financial performance against budgets and investigate variances.
- Prepare monthly, quarterly, and annual financial statements and management reports.
- Provide financial analysis and recommendations to senior management.
- Monitor cash flows, working capital, receivables, payables, and liquidity requirements.
- Ensure optimum utilization of financial resources.
B. Manufacturing Costing & Cost Control
- Develop and maintain an effective product costing system for glass manufacturing operations.
- Calculate and monitor production costs, including raw materials, direct labour, fuel, electricity, and manufacturing overheads.
- Monitor consumption and wastage of raw materials such as silica sand, soda ash, limestone, dolomite, cullet, and other production inputs.
- Analyze furnace operating costs, melting losses, production yields, and energy consumption.
- Monitor production costs per ton and identify opportunities for cost reduction.
- Analyze actual versus standard production costs and investigate significant variances.
- Evaluate the financial impact of furnace efficiency, production capacity utilization, and plant downtime.
- Monitor scrap, rejection, breakage, and production losses.
- Develop cost control measures to improve gross profit margins and manufacturing efficiency.
C. Inventory & Fixed Asset Management
- Establish effective inventory control procedures for raw materials, packing materials, work-in-process, and finished goods.
- Ensure proper inventory valuation and reconciliation with physical stock.
- Monitor inventory turnover, slow-moving, obsolete, and excess stock.
- Coordinate periodic stock counts and investigate discrepancies.
- Maintain an accurate fixed asset register.
- Ensure proper accounting for depreciation, capital expenditure, and asset disposals.
- Monitor capital investment projects and evaluate their financial performance.
D. Taxation & Statutory Compliance
- Ensure compliance with applicable taxation laws and regulations in Pakistan.
- Oversee preparation and timely filing of income tax returns and withholding tax statements.
- Ensure compliance with applicable Federal Board of Revenue (FBR) requirements.
- Monitor sales tax matters, including input and output tax reconciliation, where applicable.
- Ensure compliance with applicable provincial sales tax requirements.
- Coordinate with tax consultants, external auditors, and regulatory authorities.
- Monitor changes in tax laws and assess their financial impact on the company.
- Ensure compliance with applicable SECP requirements and other statutory obligations, depending on the company's legal structure.
E. Accounts & Financial Reporting
- Supervise daily accounting operations, including general ledger, accounts payable, accounts receivable, and bank reconciliations.
- Ensure accurate and timely recording of financial transactions.
- Maintain proper accounting records in accordance with applicable IFRS and local statutory requirements.
- Review monthly closing procedures and ensure timely closure of accounts.
- Prepare financial statements, including profit and loss accounts, balance sheets, and cash flow statements.
- Ensure reconciliation of customer, supplier, bank, and intercompany accounts.
- Maintain proper documentation and internal financial controls.
F. Cash Flow & Treasury Management
- Prepare and monitor daily, weekly, and monthly cash flow forecasts.
- Manage banking relationships and financing facilities.
- Monitor short-term borrowing requirements and financing costs.
- Oversee bank guarantees, letters of credit, and import-related payments.
- Monitor foreign currency exposure and exchange rate fluctuations.
- Ensure timely payments to suppliers, employees, financial institutions, and government authorities.
G. Internal Controls & Risk Management
- Develop and implement effective financial policies and procedures.
- Strengthen internal controls to prevent fraud, errors, and financial irregularities.
- Ensure segregation of duties and proper authorization of financial transactions.
- Identify financial and operational risks and recommend corrective actions.
- Coordinate internal and external audits.
- Ensure implementation of audit recommendations.
H. Team Management & Coordination
- Lead and supervise the Finance & Accounts team.
- Establish performance targets and monitor departmental productivity.
- Train and develop finance staff.
- Coordinate with Production, Procurement, Sales, Stores, HR, and Administration departments.
- Provide financial support to management for operational and strategic decisions.
Experience
10 Years
Apply By
Required Skills
- Financial Planning and Analysis
- Budgeting and Forecasting
- Financial Reporting
- Accountancy
- Regulatory Compliance
- Team Management
Nice to Have Skills
- Communication
- Cost Control
- Risk Management
- Audit coordination