ROLE PURPOSE
Within the guidance of the Finance & Accounting operating plan, to provide managerial leadership to the management accounting team and the tools and functional expertise to line management, where relevant, to ensure that the financial management and cost management of the Factory is in line with the country regulations and Factory and Apparel Division standards
KEY ACCOUNTABILITY AREA
Budget and Performance Reports
- Annual Budget: manage the process and formats for creating annual Factory and Departmental budgets and
- semi-annual updates, if applicable, and getting the necessary approvals.
- Monthly Forecast: create monthly 3-month forward forecast of Profit & Loss, including operational data.
- Financial Reports and Analyses:
- review monthly financial reports and highlights to Managing Director and Department Directors on variances, performance and expenses against budget and forecast, so that corrective actions can be carried out effectively.
- proactively analyzes accounting records and identifies areas of improvements (e.g. handling of ageing materials).
investigate and provide recommendations to the management team and relevant departments as appropriate.
Analysis Requests: prepare ad-hoc financial analysis upon management team / other functions’ request.
- Review OPEX & CAPEX monthly monitoring report and assign subordinate to cooperate with budget owner to find out the reason of discrepancy amount compare with budget, quarterly forecast, rolling forecast.
- Resolve problem on daily operation budget control.
- Review Budget Preparation Procedure and handle training session to all functions
Cost Management
- Cost Analyses: provide Managing Director and Department Directors with adequate financial advice to assist them in costing exercises and cost reduction analyses.
- Analysis Tools: provide cost analysis tools such as TAL Group Cost Models, variance analysis, etc. to Department Directors, and train them how to use the tools to identify cost drivers and identify cost reduction opportunities. Review the identified opportunities and provide relevant support in formulating and executing corrective actions.
- Operational Changes: assess the impact of operation changes to the business flow and make relevant recommendations to the management team required actions to minimize the financial impact.
- Major Costs:
- hold Immediate Employee (IE) accountable for identifying the Factory’s major controllable costs (e.g. excess cost, electricity, consumables).
- create reports to track and analyze these costs on a regular basis, and work with relevant Department Directors to develop cost saving measures.
Cut/Make (CM) Income Analysis
- CM Income Analysis: identify opportunities to maximize the CM income of the Factory.
- Customer Profitability: review and analyze the profitability by customer. Highlight anomalies to the Managing Director and recommend appropriate actions.
Fixed Asset Management
- Capital Expenditure Management: oversee the capital expenditure application and write-off procedure to ensure it is within Group guidelines. Review payback calculations for all capital expenditure application for validity.
- Fixed Asset Data: track incoming, outgoing, and retiring fixed assets. Follow-up to ensure timely refund of associated import taxes.
- Review OPEX & CAPEX monthly monitoring report and assign subordinate to cooperate with budget owner to find out the reason of discrepancy amount compare with budget, quarterly forecast, rolling forecast.
- Perform meeting material related to issues of OPEX & CAPEX and highlight to management about key concerned points which may have impact to business performance.
- Support management requirement on OPEX & CAPEX issues.
Internal Customer Engagement
- Internal Customer Expectations: identify internal customers’ key expectations from the Finance services.
- Service Delivery: hold the relevant IEs accountable for building relationships and meeting expectations of customers to create high customer engagement.
- Customer Buy-in: communicate and collaborate with internal customer to gain support for Finance department initiatives.
- Continuous improvement: achieve year-on-year improvement in customer engagement.
Personal Effectiveness
- Assessment: take accountability for self-assessment of how to improve own personal effectiveness in the current role.
- Feedback: ask for feedback regarding personal effectiveness from relevant parties.
- Development Plan: pro-actively discuss ways for improving personal effectiveness with own IM. Seek opportunities for learning and growth. Participate fully in development opportunities provided by the Groupand consciously apply the learning from the development programs.
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