Job Description
POSITION DETAILS
- POSITION TITLE: Factory Accountant
- DEPARTMENT: Accounts & Finance
- JOB LOCATION: Narammala / Mawathagama
POSITION PURPOSE
The Factory Accountant is responsible for managing factory financial operations, ensuring accurate financial reporting, monitoring key factory performance indicators, supporting budgeting and forecasting activities, strengthening internal controls, and providing timely financial insights to support factory management and strategic decision-making. The role focuses on cost control, asset safeguarding, compliance, monthly financial closure, and continuous improvement initiatives aligned with company objectives.
JOB RESPONSIBILITIES
- 1. Ensure the accuracy and integrity of factory-specific Key Performance Indicators, including CPCM, Cut to Ship, Order to Ship, and Cadre Ratio, through regular monitoring, analysis, and reporting.
- 2. Highlight areas for improvement in financial and operational KPIs and support factory management in the cluster finance team in implementing agreed corrective actions.
- 3. Monitor and control factory overheads to ensure expenses remain within the approved budget or forecast, considering changes in activity levels.
- 4. Identify cost-saving opportunities and assist factory management in driving and governing the implementation of cost improvement initiatives.
- 5. Maintain a strong control environment to safeguard company assets, ensure compliance with key operational processes, and support proper approval of all expenses.
- 6. Perform periodic audits and reviews, including raw material and finished goods cycle counts, weekly machine scanning, pending GRN monitoring, cut-to-ship reconciliations, monthly payroll reconciliation, and petty cash reconciliation.
- 7. Manage the factory petty cash float and ensure proper controls are followed during disbursement, reimbursement, documentation, and reconciliation processes.
- 8. Complete monthly financial closure activities accurately and within the timelines communicated by the Central Finance team.
- 9. Review commercial terms in supplier agreements executed at factory level and coordinate with Factory HR, Factory Administration, Cluster Finance, Central Finance, Legal, and other relevant stakeholders to ensure all conditions are in order.
- 10. Support internal audits by providing required information, responding to finance-related audit observations, reviewing matters with the Cluster Finance Head, and ensuring timely submission of comments and action plans.
- 11. Prepare ad hoc financial reports, analysis, cost summaries, and performance updates requested by factory management or cluster finance to support decision-making and planning.
- 12. Collaborate with cluster and central finance teams by providing relevant data and insights for budget preparation, forecasting, and financial review processes.
- 13. Share best practices and support continuous improvement and standardization of finance processes across the organization.
- 14. Responsible for order profitability, including costing and the order closure process.
JOB REQUIREMENTS
Qualifications and Experience
- Bachelor’s degree in Accounting, Finance, Commerce, or a related field.
- Professional accounting qualification such as CIMA, ACCA, CMA, CA, or equivalent is preferred.
- Master’s degree in a relevant field will be an added advantage.
- Previous experience in factory accounting, manufacturing finance, cost control, or a similar finance role is preferred. Experience requirements may vary based on job level.
Skills and Attributes
- Strong knowledge of accounting standards, factory finance processes, cost control, budgeting, forecasting, and internal controls.
- Strong analytical skills with high attention to detail in reviewing financial data, reconciliations, KPIs, and management reports.
- Ability to monitor overheads, identify cost-saving opportunities, and support implementation of financial improvement initiatives.
- Good understanding of asset safeguarding, inventory controls, petty cash management, payroll reconciliation, GRN monitoring, and audit requirements.
- Excellent communication and interpersonal skills to work with factory management, finance teams, operational teams, auditors, suppliers, and other stakeholders.
Other
- Proficiency in MS Office and accounting software; previous experience in SAP or ERP systems is preferred.
- Ability to work independently and collaboratively while meeting monthly deadlines and financial reporting timelines.
- Professional, ethical, proactive, and improvement-focused approach to handling financial information and factory finance responsibilities.
Apply - [email protected]
