Plant Finance Head - CTO SEZ

Dr. Reddy’s Laboratories Ltd. is a leading multinational pharmaceutical company based across global locations. Each of our 24,000 plus employees comes to work every day for one collective purpose: to accelerate access to affordable and innovative medicines because Good Health Can’t Wait.

We started in 1984 with a modest investment, 20 employees and a bold vision. Today, we have research and development centres, manufacturing facilities or a commercial presence in 66 countries. 

For nearly four decades, we have stood for access, affordability and innovation based on the bedrock of deep science, progressive people practices and robust corporate governance. As the pharmaceutical industry evolves and undergoes disruption, we see an opportunity – to strengthen our core further (the next steps) and to build the future (the new bets).

‘The Next and the New’ is how we aim to continue to be the partner of choice – purpose-driven, future-ready and sustainable.  Our aim is to reach over 1.5 Bn+ patients across the world by 2030 by growing our core businesses and building for the future with sustainability at the core of our purpose and strategy. Sustainability for us means operating in a manner that respects people, planet and purpose – helping us conserve precious resources, serve our patients, create value for stakeholders, give back to society, fulfil our potential and maintain our integrity and transparency

Dr Reddy’s maintains a work environment, free from discrimination and is an equal opportunity employer. We are committed to employ & nurture all qualified diverse workforce without regard to race, colour religion, nationality, sex, age, disability status, genetics, sexual orientation, gender expression, citizenship or any other characteristic or classification protected by applicable law(s) of the country we operate in. We treasure every talent, and recognize merit and diversity in our organization.

Job Description:

The Plant Finance Head (PFH) has a key role on the plant site leadership team. Plant Finance Head will be leading overall financial activities, including Plant Profitability, Costing, Inventory Controls, month end books closure, MIS, Budgeting, Reviewing the Capital Expenditure, Operational excellences, Process controls & Compliance at the plant as well as working with Site Leadership Team (SLT) to achieve all Financial KPIs of the plant (end to end P&L management of the Plant).

Key Roles & Responsibilities:

Business Partnering:

1. Partnering with Site Head and SLT in achieving the overall financial Goals
2. Support decision making at site level through timely information, financial evaluation with insights on costs and capacity utilization.
3. Key Insights for decision making on Products with Low Margin / Low Sales.
4. Business insights to grow the Market Share and Margin of each Product and thereby improving the financial metrics of the Plant.

Costing & Inventory:

1. Inventory valuation with NRVs and Conducting perpetual inventory checks.
2. Product Raw Material Costing (spreads), Reporting of Total Variable Cost (TVC) savings against budget/baseline.
3. Calculation of overheads on a quarterly basis and review of over and under absorption.
4. Computing the MLs (incl. spent solvents) valuation on a quarterly basis and ensuring the rates updated in SAP.
5. Review of Risk Inventory (Failed, Sales returns, Incident batches) for action and ensure implement the action as per timelines.
6. Tracking and closure of open Process Orders. Ensure completeness of TECOs for completed orders.
7. Review & approving of BoM and Recipes and release SCRs.

Controlling & Books closure:

1. Monthly Book closure of the Plant related activities & spends.
2. Scrutinize GL accounts & rectification entries to be posted, incase of any item found.
3. Review and provisioning of Pending GRNs.
4. Tracking and closure of overdue RGPs & pending STOs
5. Review and report exceptions in Plant relevant Balance Sheet GLs.
6. Ensure and sign-off of FSCP Documentation.

Operating expense review, MIS, Control

1. Tracking and reporting operating expenses in line with Budget and Support to Site head to ensure spent should be as per Budget.
2. Proactive management of monthly expenses by providing insights to the Team
3. Timely release of Plant MIS to key stakeholders
4. Facilitate Cluster Head and GMO planning team with inputs and insights.

Budget & Latest Estimates:

1. Drive the Annual Budgeting exercise at plant along with CFTs
2. Preparation of Cash OpEx budget, RMCs with TVC (yield and solvents) savings.
3. Monthly basis provide Latest Estimates to FP&A Team and report the reasons for variances Vs Budget

Operational Excellence (OE)

1. Actively participate in discussions of OE Saving ideas generation and estimate the idea potential for generated ideas.
2. Review and Tracking of Cash OE, TVC & OVC Savings vs target.
3. Reporting of OE Savings status to SLT and GMO HO (Controlling & Planning) teams

Capex and Assets:

1. Review of Capex requests and propose for Investment to next levels; Also conduct Post project evaluation for Key Projects
2. Review of open projects and ensure commissioning of assets as per timelines.
3. Ensure the tagging of All capitalized assets with Asset number
4. Review of Idle Assets and work on Utilisation / Liquidation.

Audits & Compliance

1. Meet the audit requirements like Statutory, SOX, and internal audits for the plant.
2. Co-ordinating for physical verification of inventory (stock audits) and discuss with WH teams and closure of variances between books and physical inventory as per guidelines.
3. Compliance with accounting policies and guidelines

SEZ Specific :

1. Compute the estimated P&L for SEZ unit(s) as per the applicable Transfer Pricing guidelines.
2. Submit the required Tax P&Ls, Returns for SEZ Authorities at regular intervals.
3. Maintaining of Adv. Duty ledger and ensure passing of payment entries.
4. Provide necessary supporting documentation for Tax Audits
5. Ensure to maintain the SEZ compliance tracker for LOA , BLUT, NFE, APRs, etc

CMA/CA with atleast 5 years of experience in Manufacturing Operations and Costing.

About the Department

Emerging Markets

Branded generics is one of our biggest businesses in Emerging market and our branded products are available 48 countries across 5 regions. Our key markets are Russia, China and Brazil. We also have presence in Latin America, Africa, Australia, New Zealand, ASEAN (Association of Southeast Asian Nations), CIS and Romania. We have added 13 new geographies in the last 5 years.

In the last 4 years, our emerging markets business’ growth rate has doubled (June ’22). Our diverse portfolio spans all segments. We are continuously advancing technologies, enhancing efficiency of operations and increasing our portfolio of highest-quality quality products.

With nearly 40 products and 6 mega brands, Russia is a key market. With more than 30 years of operations in the region, as of FY22, we have reported a year-on-year growth of 32%. This was driven by improved existing business performance, launch of new products during the year along with divestment of some non-core brands. 6 key products were ranked among the top 200 bestselling formulation brands, as per IQVIA in its report for the 12-month period ended 31 March, 2022. 5 of our leading products were voted as the ’Product of the Year’ by the consumers – reaffirming the trust that the people of Russia have in them.

We are among the earliest Indian pharma companies to have a business presence in China. We have a representative office that focuses on filings and approvals, including the Group Purchasing Organisation (GPO). Our joint venture entity (Kunshan Rotam Reddy Pharmaceutical Co. Ltd) offers a portfolio of niche and essential products, strengthening our presence in China.

In Latin America we have a strong presence in Brazil and Colombia. In just a little over five years in Brazil, our team has established itself in the region with our diverse portfolio. Our primary focus in Brazil is oncology and institutional. Our team in Colombia was certified as a ‘Great Place to Work’.

Through our comprehensive COVID-19 portfolio, we were able to reach over 5 million patients in low and middle-income countries. With the aim of reaching more and more patients around the world, we are harnessing our deep science capabilities to create a robust portfolio in the region to become the partner of choice.

Our teams in China, Brazil, Colombia and Thailand, Malaysia are a certified great place to work. Our team in Russia is among the top 3 in Head-hunter’s Best Employer Ranking in 2022. These recognitions reaffirm our commitment and efforts to bring science, technology and innovation together to offer affordable medicines and solutions beyond the pill to patients in the region.

As the need, scope and standards of healthcare evolve, we keep track of emerging needs to contribute to patient welfare. After all, Good Health Can’t Wait

Benefits Offered
At Dr. Reddy’s we actively help to catalyse your career growth and professional development through personalised learning programs.
The benefits you will enjoy at Dr. Reddy’s are on par with the best industry standards. They include, among other things and other essential equipment, joining & relocation support, family support (Maternity & Paternity benefits), learning and development opportunities, medical coverage for yourself and your family, life coverage for yourself.

Our Work Culture
Ask any employee at Dr. Reddy’s why they come to work every day and they’ll say, because Good Health Can’t Wait. This is our credo as well as the guiding principle behind all our actions. We see healthcare solutions not only as scientific formulations, but as a means to help patients lead healthier lives, and we’re always attuned to the new and the next to empower people to stay fit. And to do this, we foster a culture of empathy and dynamism. People are at the core of our journey over the last few decades. They have been supported by an enabling environment that buoys individual ability while fostering teamwork and shared success. We believe that when people with diverse skills are bound together by a common purpose and value system, they can make magic.
For more details, please visit our career website at https://careers.drreddys.com/#!/