Head of Finance

2 days ago

Karachi, Sindh, Pakistan Khas Socks & Knitwear Full time
Position Summary

The Head of Finance for the Spinning Unit will be the key financial business partner to the Unit Head and operational management team. This role is responsible for the entire finance function, with a primary emphasis on robust treasury management and deep financial understanding of spinning operations. The ideal candidate will go beyond traditional accounting to drive cost optimization, working capital efficiency, and strategic decision-support through expert financial analysis.

Key Responsibilities
1. Treasury & Working Capital Management (Primary Focus):
  • Manage the unit\'s complete treasury operations, including cash flow forecasting, liquidity management, and banking relationships.
  • Implement strategies to optimize working capital, with a sharp focus on inventory (raw cotton, blends, etc.) and receivables.
  • Oversee forex management for import of cotton and other raw materials, hedging strategies to mitigate currency risk.
  • Manage letters of credit (LCs), bank guarantees, and short-term financing facilities.
  • Ensure optimal capital structure and cost of capital for the unit.
2. Spinning Operations Finance & Costing:
  • Develop and maintain a precise standard costing system for all yarn counts and blends.
  • Conduct rigorous cost-benefit analysis for raw material mix (e.g., cotton vs. polyester vs. viscose) to maximize margin.
  • Analyze key operational metrics: cost per kg, machine efficiency, waste (hard waste and soft waste), and consumption ratios.
  • Partner with production to identify and drive cost-saving initiatives across energy, manpower, and machine maintenance.
  • Perform variance analysis (usage, price, efficiency) and report on operational performance against benchmarks.
3. Financial Planning, Reporting & Control:
  • Lead the annual budgeting and quarterly forecasting processes for the spinning unit.
  • Prepare monthly, quarterly, and annual management reports with insightful commentary on performance.
  • Ensure strong internal controls and compliance with company policies and accounting standards.
  • Oversee all accounting activities, including accounts payable, accounts receivable, and general ledger.
4. Business Partnership & Strategy:
  • Act as a strategic advisor to the Unit Head on all financial and commercial matters.
  • Evaluate capital expenditure (CAPEX) projects for new machinery or capacity expansion, providing detailed ROI analysis.
  • Support pricing strategies for finished yarn based on cost structures and market intelligence.
  • Use data-driven insights to advise on product mix and operational improvements.
Required Experience & Qualifications
  • Qualified CA / CMA / CPA or MBA in Finance.
  • 12+ years of progressive experience in finance, with a significant portion within a manufacturing environment. The textile spinning industry is highly preferred.
  • Non-negotiable Experience:
  • Extensive, hands-on experience in corporate treasury, including cash flow management, forex, and working capital optimization.
  • Deep, practical knowledge of cost accounting in a spinning mill (e.g., standard costing, waste calculation, TFO/twisting costs if applicable).
  • Proven experience as a financial business partner to operations leadership.
  • Expert proficiency in ERP systems (e.g., SAP, Oracle) and advanced MS Excel skills.
  • Strong analytical, problem-solving, and communication skills.
Desired Personal Attributes
  • Strategic thinker with a hands-on, operational approach.
  • High integrity and strong ethical standards.
  • Ability to thrive in a fast-paced, dynamic environment.
  • Excellent leadership and team management skills.
To Apply:

Please submit your resume detailing your specific experience in treasury management and the financial aspects of spinning operations at or

Job Type: Full-time

Application Question(s):

  • What is your current package ?
  • What is your expected salary?

Work Location: In person


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