Position / Job Title
Department Head (Finance & Accounts)
Finance & Commerce
Functional Head –F& A (Epoxy Business)
1) Job Purpose
Responsible for key Management information system, Audits , Financial reporting & forecasting, Consolidation of accounts , Product costing , Budgeting, Financial Planning for the Epoxy business
What are the areas (in quantitative terms) the job has an impact on?
Other Relevant Parameters
No. of Business
No. of Profit Centre
Epoxy + PMRC
3) Job Context & Major Challenges
(What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone
) Job Context & Major Challenges
(What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone?
Epoxy division of ABCT (Formerly Thai Epoxy & Allied Products Co., Ltd.) is only Epoxy manufacturing company in South East Asia. It was a joint venture of ABG with Nisho Iwai and Tohto Kasei of Japan. It started its operation in 1992 with a capacity of 10,000 MT. In the year 1996, the plant was expanded to 30,000 MT. New line was dedicated to solid grade epoxy resins. In the year 2000, this solid grade plant was modified to produce both solid & liquid grade epoxy resins due to market requirement. In year 2002, the unit entered into specialty epoxy resins with set up of pilot plant. The specialty plant of 7500 MT capacity was commissioned in the year 2004. In 2006 the unit set up full-fledged R&D Centre. It produces wide range of epoxy resins, hardeners and reactive diluents. The unit is under expansion to setup new line for producing value added products for capacity of 20,000 MT. The unit has ISO 9001 & ISO 14001 certification for more than 10 years. Its domestic sales is around 20% and balance 80% is exported to countries around the globe. It operates in a Buyer s market with a global market share of 2% only. The market is dominated by big players like Dow, Hexion, Huntsman and Nanya. Job Specific: Responsible for all financial & commercial activities at the factory and also ERP implementation (both as unit coordinator and core team member of the FICO module). Major Challenges: With emphasis on new product developments and introduction of more customized grades, the unit s products consists of more than 75 grades involving more than 100 raw materials and chemicals. This makes preparation/review of MIS and maintenance of costing for all grades more challenging. Chemicals business in Thailand has implemented SAP for the last 3 years and usage of SAP at present largely restricted to transaction entries. Instances of redundant data entry and maintenance of parallel records excel are also on the high
(particularly in FICO, MM & SD modules). This calls for all out efforts to go to the next level -- increasing overall effectiveness and improvement in key business/decision making processes.
During October 2013 it has commissioned Indian manufacturing operation with approximately 50000 TPA Epoxy capacities at Vilayat, Gujrat and there are challenges to use this plant at full capacity and achieve the desired level of profit.
During October’2013 only it has also acquired CTP Chemical for Polymers in Germany with over 20000 MTPA capacities.
- Guiding team for day to day activities of accounts department
- Ensure timely payments to vendors / employees
- Compliance of direct and indirect taxation rules
- Accountable for P&B function, accounts function and MIS of Epoxy.
- Meeting expectation of internal customer having different priorities
- Various reporting –Monthly , Quarterly
4) Principal Accountabilities
- To ensure timely and accurate preparation of periodic accounts (manufacturing as well as sales accounting) and audit thereof to meet stakeholders and legal requirement.
To ensure timeliness and quality of monthly/quarterly/annual accounts and audit thereof.
To ensure adherence to the accounting standards and CFD guidelines. Ensure timely and accurate E-payment system
Timely completion of financial MIS and highlighting deviations.
To ensure adherence to the SOP for receivable management to minimize the credit limit deviation.
To ensure correct ugha report and follow up with marketing for critical ughai
- Plan and organize timely preparation of MIS, financial, P&B, verification of financial data of Capex for effective and timely decision making by management for two divisions of the units.
Internal review of MPR report to ensure correctness and timeliness and organize MPR meetings.
Analysis of key cost driver and revenue drivers to assist in decision making process.
Cost Record Maintenance and getting the same audited.
To organize and complete P&B process.
Ensure compilations of necessary data and analysis of data for timely and accurate preparation of Budgeting along.
To analyze the projections provided by Sales and Marketing based on past data to ensure accuracy of assumptions and budgeting and management decision making.
- Compliance of Direct and Indirect taxation to meet the legal requirement and supporting FH in optimizing the tax outflow.
To complete tax audit assessment details in time and compliance
Ensuring maximum benefits available under various tax guidance and foreign trade.
To evaluate various options available under the law and recommend schemes to be adopted for optimum tax planning and ensuring adherence to SOPs and tax compliance systems.
Follow up for timely closing of internal audit points for complying with corporate governance and ICQ.
- Support FH-F&A on periodic review of working capital to initiate corrective action so as to minimize interest cost.
Planning of funds flow for optimization of working capital.
Review the working capital statement and highlight the deviations vis-à-vis budget to all concerned for ensuring corrective action.
- Insurance: Plan and take Insurance of companies’ properties for full coverage of risk with minimum premium outgo.
Recommend maximum coverage of risk by doing cost benefit analysis
Ensure compliance of insurance SOP.
Ensure timely lodging of claim and assist in settling.
- To identify areas of Multi skilling in accounts ensure development of the people for their career development while creating desired work culture in line with group philosophy and practices.
- Performance assessment and identification of training needs and skill gaps and ensure relevant training is imparted.
- Ensure discipline and grievance handling of team members.
- Communicating and Coaching second line for taking higher responsibilities in future
5) Job Purpose of Direct Reports
6) Relationships (If Applicable)
- Functional Head – Epoxy Business
- Senior Management – Marketing, Operations, Supply Chain & HR
- Decision making support on important matters
- Decision making support and other assistance in making important reports to Management.
- Consultants/Statutory authorities
- Financial, taxation & compliance /MIS, P&B Reports
- For assessment / statutory proceedings / information requirement/ submission
- LC / Funds / Banking Operations
- Customer satisfaction / Recon / Balance confirmation
7) Organizational Relationships (Separate Annexure to be
Enclosed: Organisation Chart
Minimum Experience Level:
9 - 12 Years
Assistant Vice President