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Job Description

One of IFFCO Group’s Core Values is “People”. IFFCO Group* provides immense career and development opportunities, with benefits and a working culture that embraces diversity. With all roles in IFFCO Group* whether an internship, graduate opportunities, or job opening to progress your professional career within IFFCO Group*, you can shape your own career path as you work with the brands and people that drive our vision and business growth.

IFFCO Group* encourages our people to be an entrepreneur and we believe that our “people” make the big difference

Job Summary

1. To support the Manager Finance in costing and budgeting activities at the Business Unit level and thus ensure appropriate financial and regulatory health of the business unit.

2. Support the BU team as well as provide support to the Corporate Team in product cost management.

Roles & Responsibilities

Strategic

1. Support the Manager Finance in finalization of the overall product pricing strategy in close coordination with the Marketing departmentOperational

2. Support the Manager Finance in budgeting exercise for the business unit including collation, consolidation and communication

3. Manage production/ manufacturing costing sheet, Business P&L, Balance Sheet, Capital Spending (CAPEX), Inventory and reserves

4. Prepare the first level budgeting schedule for the business unit and assist each department in budget preparation by providing formats, guidelines, assumptions and principles for the same

5. Receive changes in budgets from each department and collate final budget by incorporating changes suggested by Manager Finance and provide support to the Manager Finance in presenting the revised budget to MD/ CEO for approval

6. Upload final budget on ERP system and regularly monitor the budget for deviations

7. Collect and analyze various heads/ cost of doing business including manufacturing and sales  data to determine costs of business activity such as raw material and spares purchases, S&D, inventory, energy usage, transportation and manpower deployment

8. Conduct periodic analysis of costs in product design, raw materials, manufacturing methods to determine the impact on cost base and hence overall profitability of the business unit

9. Analyse actual manufacturing costs and prepare periodic reports comparing standard costs to actual production costs

10. Support the Manager Finance in conducting variance analysis of planned Vs. actuals costs across the business unit

11. Perform stock valuation, stock count, SKU level sales analysis and check for any variances in terms of quantity, price and usage to be highlighted to the Manager Finance

12. Conduct competitive analysis of quarterly/ annual business/ financial results with respect to product pricing, growth rates, profitability, ROI, sales tracking etc. and provide details to the Manager Finance

13. Support the Manager Finance in monthly/ quarterly/ annual costing for required components and assist the business unit in new product costing by providing data and costing templates

14. Work in close coordination with the Manager Finance to accurately allocate the direct and indirect expenses to the components and cost centers, calculate the man-minute costs of each component & overall component cost and submit the same for review on a monthly/ quarterly/ annual basis

15. Ensure timely preparation of costing related MIS and submit the same to all concerned stakeholders as per the agreed timelines

16. Upload any product recipe changes and product procurement cost on the ERP system and forecasts monthly margins basis the changing prices

17. Support the Manager Finance in the integration of new ledgers and accounts in the ERP system and ensure accounting of items in appropriate ledgers

18. Identify process improvements and make recommendations to Manager Finance to strengthen and improve internal controls and thus streamline the budgeting and costing processesPeople Management

19. Allocate work to subordinates, nominate for training as per guidelines, conduct performance reviews and manage leave and overtime to ensure efficiency.

20. Participate in the identification of training and development initiatives for all subordinates

21. Drive the engagement and satisfaction of the team through holding periodic meetings to discuss the achievements and address any employee issues and/or concerns. Build an effective, efficient and motivated team

KPIs

1. % adherence to timelines for development of budgets

2. Timeliness and accuracy of MIS

3. % adherence to timelines for product costing

4. % accuracy in product costing

5. Time taken to achieve closure on audit observations

Work experience requirement

• Minimum 4+ years of related experience in budgeting and costing, preferably in a manufacturing or FMCG industry

Qualification

• ACCA / CIMA / ICMA

Competencies

Analytical Ability

Planning & Prioritizing

Business Acumen

Process Excellence

Displaying Technical Expertise

Using Computer and Technology

Driving Results

Controlling Costs

Interpersonal Skills

Customer Centricity

Working with Diverse Populations

Planning & Decision Making

IFFCO Group* is Top 100 Most In-demand Employer in MENA 

*IFFCO Group refers to all the group companies, affiliates and associates across the globe, as listed under IFFCO Network.

Job Details

Total Positions:
1 Post
Job Shift:
First Shift (Day)
Job Type:
Full Time/Permanent
Job Location:
Port Muhammad Bin Qasim, Karachi, Pakistan
Gender:
No Preference
Minimum Education:
Bachelors
Degree Title:
ACCA / ICMA / CIMA
Career Level:
Experienced Professional
Experience:
4 Years - 7 Years (experience in budgeting and costing, preferably in a manufacturing or FMCG industry)
Apply Before:
May 17, 2018
Posting Date:
May 03, 2018
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IFFCO Pakistan (Pvt) Limited

Fast Moving Consumer Goods (FMCG) · 301-600 employees - Karachi

IFFCO is a United Arab Emirates based business conglomerate that manufactures and markets a well integrated range of mass-market consumer products. It entered Pakistan in the year 2005, by acquiring two companies Evian and BOT on January 16, 2006. IFFCO Pakistan began its sales operations in the mo ...Read More