Head Finance - R&D

Job Title : Head Finance - R&D

The Finance Lead R&D / CTO is responsible for driving financial planning, forecasting, analysis, and governance.

This role ensures effective cost management, accurate monthly financial reporting, robust internal controls, and timely financial insights to support strategic and operational R&D activities. The

position partners closely with Engineering, R&D, Supply Chain, Controlling, and Corporate Finance teams to enable data-driven decision-making and strong financial discipline.

* Financial Planning & Forecasting

1. Lead annual budgeting and rolling forecast cycles for the CTO / R&D functions.

2. Consolidate monthly financials, including Cash Flow Management and Profit & Loss statements.

3. Drive annual Capex planning and conduct monthly Capex tracking to ensure spending compliance and alignment with strategic priorities.

4. Develop engineering rates based on organizational structure, competencies, and cost drivers.

* R&D Cost Management & Analysis

1. Manage R&S manpower cost capitalization in accordance with financial standards and internal policies.

2. Prepare monthly R&D spending analysis, providing variance insights and cost optimization recommendations.

3. Monitor AP-related activities and ensure timely review and oversight of vendor payments impacting R&D operations.

4. Provide continuous finance support to R&D initiatives, projects, and leadership reviews.

3. Internal Controls, Inventory & Asset Governance

1. Strengthen and maintain internal financial controls across R&D processes.

2. Oversee inventory and asset management, ensuring accurate tracking, tagging, verification, and depreciation alignment.

3. Support physical verification exercises and ensure accuracy of R&D inventories and fixed assets.

4. Audit Compliance & Reporting

1. Coordinate and support internal and statutory audit requirements end-to-end.

2. Ensure timely closure of audit findings and implement corrective action plans.

3. Prepare complete and accurate documentation, schedules, and reconciliations required for audits.

5. Period-End Closing & Operational Finance

1. Manage month-end and period-end closing activities within defined timelines.

2. Collect, validate, and consolidate time sheet data across departments, analyses & present it to

Management.

3. Ensure accurate allocation of costs to projects, functions, and cost centers.

6. Team Leadership & Accountability

1. Lead, mentor, and develop team members supporting R&D finance, ensuring capability growth and high performance.

2. Provide clear direction, workload prioritization, and performance feedback to the finance support team.

3. Promote a culture of accountability, continuous improvement, and collaboration within the team.

4. Ensure the team adheres to financial standards, timelines, and process compliance.

5. Drive cross-functional alignment by coordinating with Engineering, R&D, Program Management, Supply.

Chain, and Corporate Finance teams.

6. Build strong working relationships across teams to support seamless financial operations and effective.

1. Balancing Cost Pressures with R&D Agility

• R&D functions frequently need flexibility to innovate, while the BU imposes strict cost-control expectations.
• Ensuring optimization of headcount, Capex, and Opex without slowing down engineering output or impacting innovation velocity is a constant challenge.

2. Managing High Variability in R&D Spending

• R&D spending fluctuates based on project phases, prototypes, testing, and unplanned technical needs.
• Bringing predictability to inherently unpredictable costs and minimizing last-minute surprises requires deep analysis and constant monitoring.

3. Ensuring Accurate Cost Capitalization

• R&S manpower cost capitalization demands precision, documentation, and alignment between finance, engineering, and HR.
• Inconsistent timesheet inputs and cross-functional dependencies make accuracy and compliance challenging.

4. Leading Financial Governance Across a Large, Diverse Workforce

• Supporting 300+ employees across multiple technical domains, each with different expectations, skill sets, and operational needs.
• Ensuring timely data (timesheets, project reporting, asset usage) from such a large population requires strong communication, influence, and process discipline.

5. Handling Complex, Multi-Layered Stakeholder Expectations

• Managing expectations of CTO leadership, BU finance, corporate finance, engineering heads, auditors, and project managers simultaneously.
• Frequent trade-offs between project priorities, technical requirements, budget constraints, and compliance norms.

6. Tight Timelines for Period-End Closing and Reporting

• R&D transactions, prototype purchases, and asset movements often occur late in the cycle, making accurate month-end closing challenging.
• Ensuring zero misses on reporting timelines while maintaining quality is a key pressure point.

7. Strengthening Internal Controls in a Fast-Moving R&D Environment

• R&D teams prioritize speed and experimentation, which may conflict with financial process discipline.
• Ensuring inventory tagging, asset tracking, approvals, and documentation stay intact in a rapidly evolving environment.

8. Complex Audit Requirements

• Demonstrating compliance for manpower capitalization, asset controls, inventory movements, and technical documentation during internal and statutory audits.
• Coordinating large volumes of evidence and ensuring no audit findings recur.

9. Capex Governance and Project Prioritization

• R&D Capex needs evolve dynamically test equipment failures, new project requirements, regulatory testing, etc.
• Balancing urgent needs and long-term planning while keeping spending within approved envelopes.

10. Driving Team Capability and Performance

• Developing financial and analytical competencies across team members.
• Ensuring consistency, accuracy, and high ownership in a high-pressure environment with multiple deadlines
• Major Capital Expenditure (Capex) Approvals:

Any Capex spending outside approved envelopes, or those requiring additional justification, escalation, or prioritization.

• Significant Financial Policy Deviations:

Exceptions to standard capitalization rules, accounting policies, or internal controls needing senior review.

• High-Impact Financial Risks or Variance Issues:

Situations involving large variances, budget overshoots, or audit risks that require senior leadership guidance.

• PR approvals & other transactional approvals wherever commercial impact is there