R&D Finance

1. Purpose of the Job
To provide financial planning, analysis, budgeting and commercial support to the Research & Development (R&D) function, ensuring effective control and utilization of R&D expenditure and providing management with meaningful financial insights for R&D projects, product development and commercialization decisions.
The role will partner closely with R&D and F&D leadership to evaluate project economics, monitor development costs, identify cost optimization opportunities and ensure adherence to approved budgets and financial controls.
2. Principal Accountabilities
A. R&D Budgeting & Planning
Lead the annual budgeting and financial planning process for R&D and F&D functions.
Prepare detailed budgets for R&D projects, trials, development activities, manpower, materials, equipment and external services.
Develop project-wise and department-wise cost estimates.
Monitor actual expenditure against approved budgets and identify variances.
Support preparation of annual operating plans and long-term financial plans for R&D.
B. R&D Project Costing
Develop financial models and detailed costing for new product development projects.
Evaluate development costs from laboratory trials through scale-up, registration and commercialization.
Track project-wise expenditure and committed costs.
Analyze cost per development project/product and identify cost drivers.
Provide financial inputs for prioritization of R&D projects.
C. R&D Financial Analysis & Business Partnering
Act as a finance business partner to R&D/F&D leadership.
Provide financial insights to support R&D investment and resource allocation decisions.
Evaluate project economics, expected investment, cost-to-develop and potential commercial benefits.
Prepare financial scenarios for management decision-making.
Identify opportunities for improving R&D cost efficiency and return on investment.
D. Cost Control & Optimization
Monitor R&D expenditure and ensure effective utilization of approved budgets.
Identify cost overruns and develop corrective action plans with R&D stakeholders.
Drive cost optimization initiatives across raw materials, development batches, analytical activities, external testing, consultants and other R&D expenses.
Analyze major cost drivers and recommend opportunities for savings.
Establish appropriate cost benchmarks for R&D activities.
E. Capex & Asset Management
Support R&D teams in preparation and evaluation of Capex proposals for laboratories, equipment and infrastructure.
Evaluate business justification and financial viability of major R&D investments.
Monitor Capex utilization against approved budgets.
Track project timelines, capitalization and asset utilization.
Support ROI analysis for major R&D capital investments.
F. R&D Procurement & Commercial Support
Partner with SCM and Procurement for R&D-related sourcing and cost optimization.
Review commercial proposals from suppliers and service providers from a financial perspective.
Analyze raw material, laboratory consumable, analytical service and external testing costs.
Support negotiation strategies through cost analysis and benchmarking.
Monitor purchase commitments and outstanding liabilities related to R&D.
G. Management Reporting & MIS
Prepare monthly R&D financial MIS for senior management.
Provide reports covering:
Budget vs. Actual
Project-wise expenditure
Cost per product/project
Capex utilization
Cost savings
Forecast expenditure
Open commitments
Key financial variances
Present financial performance and key insights to R&D and Finance leadership.
Develop dashboards for monitoring R&D financial performance.
H. Forecasting
Prepare monthly/quarterly forecasts for R&D expenditure.
Review project timelines and their financial impact.
Update forecasts based on changes in development plans, project priorities and resource requirements.
Identify potential future cost overruns and highlight them proactively to management.
I. Financial Controls & Compliance
Ensure R&D expenses are incurred within approved budgets and authorization limits.
Strengthen financial controls over R&D procurement, projects and expenditure.
Ensure appropriate accounting treatment and documentation for R&D expenses.
Coordinate with Internal Audit, Statutory Audit and Corporate Finance during R&D-related reviews.
Ensure compliance with Company finance policies, approval matrices and applicable accounting standards.
J. R&D Portfolio Analysis
Support management in evaluating the financial attractiveness of the R&D portfolio.
Analyze investment requirements and potential commercial outcomes for major projects.
Develop project-level financial models covering development investment, timelines and expected returns.
Provide financial inputs for Go / No-Go decisions on selected projects.
Support prioritization of R&D projects based on financial and strategic considerations.
K. Cross-Functional Collaboration
Work closely with R&D, F&D, QA, QC, RA, SCM, Procurement, Manufacturing and Commercial teams.
Translate technical/project information into meaningful financial analysis.
Establish strong financial awareness within R&D teams.
Support R&D leadership in understanding budget implications and financial trade-offs.
3. Essential Skills & Competencies
Functional
Strong understanding of financial planning, budgeting and cost control.
Experience in project costing and financial modelling.
Strong management reporting and MIS skills.
Understanding of Capex evaluation and asset management.
Strong analytical and variance-analysis skills.
Experience in cost optimization and commercial analysis.
Knowledge of ERP/SAP and advanced MS Excel.
Understanding of pharmaceutical R&D/F&D processes will be preferred.
Knowledge of pharmaceutical product development economics will be an advantage.
Behavioral
Strong analytical and problem-solving ability.
Business-oriented mindset.
Strong stakeholder-management skills.
Ability to work with technical and non-finance teams.
Strong communication and presentation skills.
Attention to detail.
Ability to challenge assumptions with data and logic.
Proactive approach and strong ownership.
Ability to work in a fast-paced, project-driven environment.
Strong commercial acumen.
4. Qualification & Experience
Qualification: CA / CMA / MBA Finance
Experience: 7–12 years of relevant experience in Finance / FP&A / Business Finance / Project Finance, preferably within the pharmaceutical, life sciences, chemicals or manufacturing industry.
Experience in supporting R&D/F&D, product development, project costing or pharmaceutical business finance would be highly preferred.

Work arrangement
No