Manufacturing Finance Manager

Manufacturing Finance Manager is responsible for leading all financial activities related to manufacturing operations, including product costing, inventory control, budgeting, financial reporting, compliance, and operational performance monitoring.

This role acts as a strategic business partner to Factory Management, ensuring cost efficiency, margin protection, strong internal controls, and full compliance with IFRS, tax and Zakat regulations, and company governance policies.

JOB RESPONSIBILITIES

• Financial Reporting & Compliance

Ensure accurate and timely monthly, quarterly, and annual financial reporting.

Maintain compliance with IFRS standards and local regulatory requirements (VAT, Zakat, WHT).

Oversee inventory valuation, WIP accounting, and fixed asset accounting.

Coordinate internal and external audits.

Ensure adherence to Delegation of Authority (DoA) and internal control frameworks.

• Costing & Manufacturing Finance

Lead standard costing model development (BOM validation, labor, overhead costs).

Analyze manufacturing variances (material, labor, overhead).

Ensure correct allocation between Cost of Sales and G&A.

Support margin improvement initiatives and cost optimization programs.

• Budgeting & Forecasting

Lead annual factory budget preparation and OPL cycle.

Prepare rolling forecasts (CFO and BCF views)

Monitor Capex spending vs approved budget.

• Working Capital & Inventory Control

Monitor inventory aging, slow-moving & obsolete stock.

Ensure accurate cycle counts and physical inventory controls.

Optimize raw material purchasing levels in coordination with supply chain.

Monitor production cash conversion cycle.

• Risk & Internal Controls

Implement strong segregation of duties (SoD).

Ensure proper documentation for procurement and Capex approvals.

Identify financial risks and propose mitigation plans.

Maintain robust cost governance framework.

• Team Leadership

Lead and develop factory finance team.

Build capabilities in manufacturing accounting.

Promote accountability, transparency, and continuous improvement.

REQUIRED QUALIFICATIONS

Education/Experience:

• Bachelor's degree in finance, Accounting, or related field.
• Minimum 10 years of experience in finance, with at least 45 years in manufacturing environment.
• Strong background in product costing and inventory management.
• Experience in ERP systems (SAP preferred).
• Experience working in multinational or structured governance environment is an advantage.

Professional Certifications

• CMA (Certified Management Accountant)
• IFRS Certification
• Lean Manufacturing or Six Sigma (advantage)
• SAP FI/CO Certification (advantage)

Hard & Soft Skills

• Standard costing & variance analysis
• BOM structures
• IFRS (especially IAS 2 Inventory, IAS 16 PPE)
• Capex accounting & depreciation
• Budgeting & forecasting models
• Working capital management
• Strong analytical and problem-solving ability
• Business partnering mindset
• High level of integrity and governance discipline

Leadership and team development skills

• Communication skills (ability to explain finance to non-finance stakeholders)
• Attention to detail with strategic perspective
• Ability to work under pressure and meet deadlines