The Controller manages accounting and financial policies, procedures and practices to ensure adequate control, recording, reporting and analysis of the company's business transactions, operating results, assets and liabilities. Analyzes trends to report to management. Administers planning and budgeting systems and general/cost accounting functions in a plant. The position also manages the day-to-day activities of the Finance department staff.
Business Plan and Forecast
- Monitor financial performance and adjust yearend financial and capital projections on a quarterly basis
- Ensure that the financial objective of the plant is met, provide guidance and direction when and where necessary
- Develop annual priorities/objectives for financial, payroll, purchasing and IT activities
- Cordinate and produce annual business plan, Quarterly outlook and POR presentation and ensure timely submission of information to the Group office
- Proper recording, identification and security of all fixed assets
- Ensure that appropriate system of internal control are implemented and maintained regularly
Policies and Procedures
- Review and manage all purchasing agreements, leases and contracts with suppliers
- Coordinate and distribute new company policies and procedures to the appropriate employee and department personnel. Follow-up on policies and procedures to ensure they are being undertaken and followed efficiently
- Review and ensure accounting policies in compliance with Canadian, US GAAP, SOX procedures, Canadian Tax regulations and financial policies
- Supervise and control all day-to-day financial statements accounting functions
- Backup for payroll, A/R, A/P
- Manage on-time annual performance evaluations for team members highlighting accomplishments and establishing goals to be focused on over subsequent review periods
- Oversee the monthly variance analysis process ensuring timely submission to Group office
- Review and analyze manufacturing/cost variance to identify and adjust inaccuracies with system standards and production inefficiencies
- Establish and monitor hourly rates and standards to support estimating activities
Month-End & Year-End Processes
- Coordinate and Oversee year-end processes ensuring timely close and submission of financial audit working papers (CMF)
- Ensure monthly, quarterly and annual operating results and forecasts are accurate and completed on a timely basis with the appropriate level of reconciliation of relevant financial information before presenting to the General Manager and the Group office
- Ensure all monthly and quarterly reports are produced accurately and send them to Group Office for review
- Report monthly financial performance to Group Controller
- Manage and coordinate Currency Hedge strategy
- New foreign currency hedges need to be initiated with the Treasury department
- Establish communications with other divisional controllers to handle the outstanding payments
- Overdue customer payments need to be escalated to GM and Group Controller
- Participate in Estimated v/s Actual performance measurable evaluations and corrective actions
- Participate in the development of Capital Plan and justifications
- Collaborate and assist Production on the purchase and tracking of Capital expenditures.
- Participate in Risk Assessments of processes, reduction action plans and the routine audits.
- Collaborate between and with the departments, customers, suppliers, subcontractors, to effectively communicate, share information and support.
- Identify, support and report manufacturing wastes