Operations Finance Manager

An Operations Finance Manager is a critical role responsible for providing financial leadership and support to the operations division of a company. This position blends financial expertise with a deep understanding of operational processes, aiming to optimize efficiency, reduce costs, and improve profitability.

Key Responsibilities

• Financial Planning & Analysis (FP&A): Develop and manage the annual budget for operations, including production costs, supply chain expenses, and capital expenditures. Regularly forecast financial performance, analyzing variances against budget and prior periods, and identifying areas for improvement.
• Cost Accounting & Analysis: Establish and maintain accurate cost accounting systems. Analyze manufacturing costs, identify cost drivers, and develop strategies to reduce costs without compromising quality or safety. Conduct make-or-buy analyses and other cost-benefit evaluations.
• Performance Reporting: Prepare and present insightful reports on operational performance, including key performance indicators (KPIs) such as production efficiency, material yield, and labor productivity. Communicate financial results to operational leaders and provide recommendations for corrective action.
• Capital Expenditure Management: Evaluate capital investment proposals, ensuring alignment with strategic objectives and financial returns. Track project spending against budget, identify potential overruns, and recommend solutions. Conduct post-implementation reviews to assess the effectiveness of capital investments.
• Inventory Management: Oversee inventory accounting and control procedures. Analyze inventory levels, identify slow-moving or obsolete inventory, and recommend strategies to optimize inventory levels and reduce carrying costs.
• Process Improvement: Collaborate with operational teams to identify and implement process improvements that enhance efficiency and reduce waste. Participate in continuous improvement initiatives and provide financial guidance on potential cost savings.
• Compliance & Control: Ensure compliance with all applicable accounting standards, internal controls, and regulatory requirements. Develop and maintain robust internal controls to safeguard company assets and prevent fraud.
• Business Partnering: Serve as a trusted business partner to operations leaders, providing financial insights and support to drive decision-making. Participate in operational meetings and contribute to the development of strategic plans.

Qualifications

A successful Operations Finance Manager typically possesses the following qualifications:

• Bachelor’s degree in Accounting, Finance, or a related field. MBA or relevant professional certification (e.g., CMA, CPA) is often preferred.
• Proven experience in operations finance, cost accounting, or financial planning and analysis, preferably within a manufacturing or industrial environment.
• Strong analytical skills, with the ability to analyze complex data, identify trends, and develop actionable recommendations.
• Excellent communication and interpersonal skills, with the ability to effectively communicate financial information to both financial and non-financial audiences.
• Proficiency in ERP systems (e.g., SAP, Oracle) and financial modeling tools (e.g., Excel).
• A thorough understanding of accounting principles and cost accounting methods.
• Ability to work independently and as part of a team, with a strong work ethic and a commitment to continuous improvement.

The Operations Finance Manager role is a challenging yet rewarding position for finance professionals who are passionate about driving operational excellence and contributing to the financial success of the organization.