Financial Analyst

Job Description: Business Intelligence

Department: Finance and accounting

Reports To: Management

Overall Objective:

Collaborate with management to develop accurate and optimized budgets for all departments, prepare financial forecasts, manage expenses, and analyze financial data to support informed decision-making within the organization.

Key Responsibilities:

Budgeting:

- Work with department heads to understand their needs and develop detailed budgets for various departments like Sales, Marketing, HR, Purchases, Raw Materials, Resources, and Overhead.

- Analyze historical data and market trends to create realistic financial forecasts and identify potential risks.

- Assist in developing strategies to minimize financial risk and optimize resource allocation.

- Monitor budget utilization across departments and analyze variances against forecasts.

- Provide recommendations for managing expenses and ensuring budget adherence.

Financial Reporting & Analysis:

- Handle MIS and generate various reports related to accounts payable, receivable, and general ledger.

- Ensure all payments follow established documentation and approval processes.

- Review and analyze the status of budget utilization across departments.

- Proactively monitor cash flows and P&L for the organization and individual factories.

- Create and publish quarterly P&L and balance sheets to evaluate company and factory performance.

Costing:

- Oversee the costing process and ensure accurate calculations of product costs and profitability.

- Implement inventory valuation methods and cost control measures to reduce waste and optimize turnover.

- Develop and track key metrics to measure progress against financial plans and present them in weekly status reports.

Communication & Decision Support:

- Prepare comprehensive status updates including analysis of key metrics like actual vs. planned budget and cash flow.

- Present updates and insights to COO and Execom meetings.

- Discuss strategies to address performance gaps, emerging issues, and compliance risks.

- Collaborate with management to make informed financial decisions.

Data Management & Reporting:

- Compile, analyze, and report financial data accurately and efficiently.

- Support data-driven decision-making processes through insights and analysis.

Qualifications & Skills:

- Degree in Finance, Accounting, or related field.

- 3+ years of experience in budgeting, financial forecasting, and cost analysis.

- Strong analytical and problem-solving skills.

- Excellent communication and presentation skills.

- Proficient in MS Excel, financial modeling tools, and ERP systems.

- Ability to work independently and as part of a team.

- Proactive, self-driven, and detail-oriented.

- Strong time management skills with the ability to meet deadlines.

- Excellent written and verbal communication skills.

- Ability to think strategically and identify opportunities for improvement.

- Passion for data analysis and supporting data-driven decision-making.

Additional Information:

- This role requires strong working knowledge of MIS, cost accounting principles, and financial reporting standards.

- Experience with costing and pricing analysis is a plus.

- Excellent interpersonal skills and the ability to build relationships with key stakeholders are essential.