Commercial Financial Controller

Role Overview

Commercial Financial Controller at alfanar. This role oversees financial planning, budgeting, cost management, and reporting activities for factory operations.

Role Purpose

To oversee and contribute to the factory's financial planning, budgeting, cost management, and reporting activities, ensuring accurate cost allocation, optimal use of resources, and adherence to accounting standards to support profitability and improve operational performance.

Key Responsibilities

Budgetary Control & Financial Operations

• Manage budgets, accounts, and financial operations across production units to meet internal reporting needs and external requirements from regulatory and statutory bodies.
• Coordinate the development of annual and long-term operating and capital budgets for the factory, ensuring alignment with production plans and resource optimization.

Costing & Inventory Control

• Oversee product costing, bill of materials (BOM), and work with production and procurement teams to analyze cost variances and improve cost accuracy.
• Ensure accurate valuation of raw materials, work-in-progress (WIP), and finished goods inventories.
• Set and monitor cost center allocations, overhead distribution, and internal transfer pricing.

Fixed Assets & Capital Expenditure

• Manage fixed asset records including asset tagging, depreciation, and capital expenditure (CAPEX) tracking across factory operations.
• Ensure correct classification of capital versus operational expenses and apply appropriate depreciation methods based on asset types and usage.

Forecasting & Profitability Analysis

• Contribute to financial forecasting processes by analyzing production capacity, demand trends, and material costs.
• Conduct profitability analysis of product lines, departments, or processes and recommend adjustments to improve margins.
• Perform variance analysis between budgeted and actual figures to assess performance and identify trends.

Cost Control & Efficiency

• Monitor production cost efficiency against set budgets and KPIs, highlighting deviations and recommending corrective measures.
• Identify opportunities for cost savings in materials, labor, and overhead through collaboration with production and procurement teams.

Reporting & Compliance

• Prepare and review periodic financial and management reports tailored to factory operations, including cost reports, inventory movement, and production efficiency metrics.
• Ensure compliance with applicable accounting standards and internal control procedures.
• Supervise the year-end closing process, including preparation of final accounts and variance reports.

People Management & Accountability

• Recruit, recognize, and cultivate high performers and create a robust second line of management.
• Recognize low performers and guide them to improve or initiate separation.
• Treat subordinates equally without discrimination and assess subordinates based on performance that leads to planned results.
• Ensure availability of delegation of authority matrix with sufficient delegations as per company policy.
• Take full responsibility for the operation as per the job description and required deliverables, considering general company guidelines.
• Anticipate problems and take proactive steps to prevent them.
• Make necessary and proper timely decisions.

Business Planning & Performance Management

• Transform corporate goals into business plans.
• Plan, follow up, and execute annual and development plans.
• Monitor plan performance and initiate action to strengthen results and take corrective action accordingly.
• Provide periodic work progress reports.
• Monitor and control budgets and expenses to achieve optimum cost efficiency.
• Make a tangible difference to the area of operation and exceed business expectations.
• Deliver required results in a timely manner with required quality and cost.

Organizational Development

• Develop the organizational structure according to current requirements, taking into consideration future and development plans.
• Ensure availability of job descriptions for all job roles and deployment.

Business Process Improvements

• Develop and coordinate well-defined written systems, policies, and procedures.
• Seek automation opportunities as much as possible.
• Navigate through IT solutions relevant to the job and business.
• Promote automated systems and their culture of use.
• Adapt to new and alternative techniques, technologies, management structures, and business models.

Health, Safety & Environment

• Ensure a safe, secure, and legal work environment as per standard regulations.

Quality & Competitive Advantage

• Act according to quality standards, as quality is considered alfanar's prime competitive advantage.

Qualifications & Experience

• Bachelor Degree in Accounting, Finance, or any relevant field.
• Six to ten years of work experience.

Skills & Competencies

• Accounting Theory and Concepts.
• Financial Analysis.
• Financial Reporting.
• Cost Control.