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Finance Controller

Bangalore, India
Finance/Accounting

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English

Job Description

This leadership position has the overall responsibility to manage the financial performance of India Aerospace including analysis of forecasts vs. actual performance, business drivers, and operational metrics. 

This role will develop forward-looking insights to drive management decision, actions and improve operational and financial results.  The Controller provides proactive leadership around issues and opportunities.  The individual will need to drive short term actions to achieve current results while supporting the deployment of progressive strategies which result in a sustainable competitive advantage and strong financial return on investment. 

The Business Controller provides technical competency to ensure compliance with corporate financial policies, legal requirements and GAAP (both US and India).  This position is responsible for building organizational capability within the finance function by hiring and developing finance personnel.  The position also ensures that assets assigned by the corporation are adequately protected and provide operations management with financial guidance necessary to produce the expected return on those assets.
    • Lead annual financial planning processes - Develop and coordinate plant profit plans, strategic plans, monthly forecasts, goals & objectives, financial reconciliations, reports and analysis for management, including variance analysis and cost control reporting and recommendations
    • Advice and counsel General Manager on financial implications of operating strategies, cost control actions and decisions. Functional reporting to Global Divisional Controller
    • Manage, analyze, evaluate and interpret plant financial forecasts and operating results.  Inform management of results and recommend corrective actions to address unfavorable variances
    • Review, analyze and evaluate financial data and information for accuracy, consistency and transparency.  Maintain integrity of financial reports and ensure that all Regional/Divisional reporting requirements are met within the prescribed timelines
    • Interpret, implement and monitor corporate policies and procedures, ensure financials are reported in compliance with generally accepted accounting principles and local statutory requirements
    • Develop and implement budgeting and financial reporting systems to provide timely and relevant information to plant, region/division, and corporate management and cost control. Control and maintain adequate product costing systems for valuation and cost estimating activities
    • Ensure monthly closure of books within the timelines set. Ownership of account reconciliation process to maintain integrity of general ledger and its supporting sub-systems.  Assess adequacy of reserves and overall financial reporting
    • Provide adequate training and oversight to all finance personnel to ensure account reconciliations meet Eaton’s requirements.  Provide leadership and support for the Balance Sheet Review process. 
    • Establish, monitor and maintain a system of internal controls that safeguards company asset and provides for integrity and propriety of financial transactions and activities. Compliance with corporate policy, including SOX
    • Evaluate and approve plant capital appropriation requests prior to region/division and corporate management approval.  Monitor and report purchase commitments and spending for all capital programs.  Conduct follow-up audits to ensure compliance for all significant capital investments 
    • Manage hiring, training and development of plant financial staff.  Establish a work environment that encourages individual career development and growth in order to provide adequate and qualified financial professionals opportunity for advancement
    • Manage the deployment of cost saving and other programs to provide operating economies and improve profitability.  Monitor and provide opportunities to support continuously improving Plant Productivity / Gross Utilization.  Support other Operations initiatives including EBE, MESH, ELSS and other BPI efforts 
    • Ensure that the appropriate plant quality policy and system are thoroughly implemented in the finance function
    • Ensure all finance responsibilities are defined and communicated throughout the plant with specific responsibilities and appropriate timing.  Ensures the deployment of finance standard work
    • Ensure compliance with local GAAP, statutory and fiscal requirements, as required
    • Provide leadership to ensure adequate cost accounting processes are in place, including standard cost updates, physical inventory verification, periodic cycle counts, etc. 
    • Support the development of government rates and ensure compliance with specific government accounting standards
    • Lead ad hoc projects as required including appropriate ERP implementations and system upgrades, business development initiatives such as new business opportunities (and possibly financial review of development contracts and appropriate revenue recognition and project accounting (as applicable) 
    • Interfaces with India Corporate Finance & External auditors to ensure that all statutory requirements are met.  Will be responsible for closure of all internal audit / SOX gaps identified
    • Co-ordinate with GFSS for E2E accounting wrt RTR, PTP & OTC
    • Responsible for financial analysis, simulation & modeling for new quotations and new products
    • Emphasizes profitability of the business at all times and challenges the business team to consistently improve operationally
    • Conversant with all Indirect Taxation Laws, which include, GST, Service Tax, etc.
    • Administer all foreign currency hedges for the business & forecasting cash requirements
    • Oversee & Guide GTM (Global Trade Management) activities on behalf of India Aerospace

    Qualifications

    BS degree in Finance or Accounting, CPA/CMA/MBA preferred or equivalent local professional qualifications like ACA/AICWA/MBA

     

    Minimum of 10 to 12 years professional post-qualification experience.  Experience in a manufacturing environment is a must. 

    • Sound working knowledge of GAAP, Sarbanes Oxley and local statutory requirements
    • Knowledge & understanding of Corporate, region/division and plant reporting policies
    • Technical capability to prepare, analyze and interpret financial and operational data/reports
    • Superior analytical and thinking skills; Intellectual rigor and curiosity; problem-solving capability
    • Understanding of global business issues, including foreign currency impacts, effective hedging protocols and local customs and duty requirements 
    • Knowledge of Oracle R12 Financials and ERP
    • Financial modeling skills will be essential

    We make what matters work. Everywhere you look—from the technology and machinery that surrounds us, to the critical services and infrastructure that we depend on every day—you’ll find one thing in common. It all relies on power. That’s why Eaton is dedicated to improving people’s lives and the environment with power management technologies that are more reliable, efficient, safe and sustainable. Because this is what matters. We are confident we can deliver on this promise because of the attributes that our employees embody. We’re ethical, passionate, accountable, efficient, transparent and we’re committed to learning. These values enable us to tackle some of the toughest challenges on the planet, never losing sight of what matters.

    Job: Finance/Accounting

    Region: Asia Pacific
    Organization: AER FED Fluid Electrical Distribution

    Job Level: Individual Contributor
    Schedule: Full-time
    Is remote work (i.e. working from home or another Eaton facility) allowed for this position?: No
    Does this position offer relocation?: Relocation from within hiring country only
    Travel: Yes, 10 % of the Time

    Requisition ID: 059700