Executive / senior industry position
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Teva is a global pharmaceutical leader and the world's largest generic medicines producer, committed to improving health and increasing access to quality health solutions worldwide. Our employees are at the core of our success, with colleagues in over 80 countries delivering the world's largest medicine cabinet to 200 million people every day. We offer a uniquely diverse portfolio of products and solutions for patients and we've built a promising pipeline centered around our core therapeutic areas. We are continually developing patient-centric solutions and significantly growing both our generic and specialty medicines business through investment in research and development, marketing, business development and innovation. This is how we improve health and enable people to live better, healthier lives. Join us on our journey of growth!
Provide financial insight and strategic guidance, to enable effective decision making that improves business performance and enhances sustainable competitiveness while maintaining oversight of all financial activity in the sub region and the markets. Responsible for overseeing all aspects of financial management, including management of local accounting, tax, treasury and BP&A teams in order to ensure processes and procedures are in accordance with corporate and legislative requirements. In addition, this key position is also responsible for closely partnering with Global Finance Functions – Tax, Treasury, Accounting, Finance Best Practices and FP&A to support decision making, accounting treatments, processes, tools and disclosure requirements. Build a team that has the necessary education, experience, training, technical expertise, customer service orientation and collaboration and other soft skills toachieve its goals. Develop the team’s problem-solving skills and proactive approachto encourage continuous improvement. Ensure the team is competent and motivatedto provide excellent professional service to the company.
The markets that this role will be responsible incude Australia, New Zealand, China, Singapore, Malaysia, Hong Kong, Vietnam, Thailand, Indonesia, South Korea, Philippines, Taiwan.
Main Responsibilities are outlined as follow:
Provide insightful analysis based on required management reporting and analysis to the business unit and Corporate Finance, ensuring a coherent financial picture to support business decision management. Provide insightful analysis based on required management reporting and analysis to the business unit and Corporate Finance, ensuring a coherent financial picture to support business decision management.
Business Strategy and Development
Provide insight and guidance to the leadership team to support strategic planning and decision making regarding business opportunities and future pipeline. Act as a strategic business partner for the cluster leadership team. Participate in pivotal decisions as they relate to strategic initiatives and operational models and support management with data driven analysis. Create and establish short and long term financial objectives that align with the cluster’s plan for growth and expansion. Asses the performance against the pre-defined goals and provide recommendations.
Guide GM and commercial teams on all applicable financial guidelines and local legislation and identify risks to ensure adherence.
Finance Matrix Management
Effectively collaborate with the various finance functions to maintain oversight of all financial activity in the country
Direct Team Management
Identify, recruit, develop and retain qualified financial professionals to provide high level service to the business. Implement managerial practices to ensure the team’s high performance, modeling Teva's values and leadership framework.
Local Commercial Leadership Team Member
Serve as an influential member of the local commercial leadership team, who impacts decision making and takes an active role in promoting business initiatives, team work and collaboration.
Member of the Global Finance Network
Implement global best practices locally and actively share local perspective, knowledge and lessons learned to contribute and support a best-in-class professional level of finance globally.
Continuously assess and improve (simplify and focus) local financial processes in the area, throughout the integration and after
Balance Sheet Compliance
Ensure all balance sheet items are properly classified, valued and supported and thatall exposures are identified, communicated and monitored. This includes: A/R, A/P, Capitalization and amortization of prepaid expenses, Investments securities,Inventory management, fixed assets, etc.
Ensue all P&L items i.e. revenues, costs, and expenses are properly classified andbooked in accordance with business performance. Ensure accuracy and timely delivery of financial reports including figures, analyses and professional comments. Convert financial reporting into a clear financial picture; meaningfully support effective financial management. Develop and continually improve budgeting, financial projections, and operating forecast. Analyze the monthly, quarterly and yearly financial reports of various sites and activities and increase understanding among management of key P&L and working capital items, trends, drivers and variances analysis.
Tax and Treasury support
- Overseeing all tax and treasury items; manage and monitor cash flow in the country; review and approve tax returns according to local legal requirements
- Understand tax regulatory changes and collaborate with Global Tax to find operative solutions
- Combine input from all countries, including collection and disbursement data, to form an ongoing integrative cash flow tracking, Identify forecast discrepancies and gaps; collaborate with Treasury and business managers to create effective solutions
- Ensure enforcement of global policies as well as local restriction with regards to credit and collection as well as vendor payment procedures
Oversee the month end cost accounting closures, ensure cost accounting system andcost ledger is well maintained, analyze inventory valuations and variances as well aslife-cycle cost benefit analysis. Track and monitor all inventory levels (RM, WIP, FG and goods in transit) and ensure Inventory and variances are well maintained, provisioned, capitalized and that risks exposures are reviewed, brought to management attention and mitigated. Overseeing the write offs management process, closely monitor its financial implications, ensuring root causes are well maintained, reviewed and mitigated and that proactive actions are taken to minimize the expense.
Oversee cash flow planning and ensure availability of funds as needed. Maintain quarterly working capital and free cash flow targets based on company’s strategy.
Develop and utilize forward-looking, predictive models and activity-based financial analyses to provide insight into the organization’s operations and business plans.
Accounting Internal Controls
Ensures maintenance of appropriate internal controls and financial procedures. Review and impose application of appropriate internal controls, SOX compliance and financial procedures to ensure readiness for successful internal and external audits
Timeliness Legal entity maintenance & Statutory Compliance
- Govern and optimize legal entities structure to promote efficiency in inter-companyprocesses, cost savings and risk reduction
- Maintain signing authority of all financial statements (statutory reporting, tax, and financial & consolidation) of the legal entity
- Represent legal entity externally and internally; protect legal entity and group interests
- Review and approve all financial statements in a country (may require collaboration with other finance teams operating in that country), including local statuary reporting and reports for US GAAP purposes
- Ensure timely filing of statutory financial statements and tax returns, as well as tie-in of external results with internal reporting
Business Developments Capital Expenditure, Inventory & Fixed Asset Management
Enable effective management of capital expenditure, inventory and fixed assets. Evaluate capital expenditure requests, provide financial justification and return on investment in order to enable effective decision making regarding proposed investments. Monitor and follow up on capital expenditure projects and reporting in regards to commitment and cash flow; maintain financial records for each project in a manner that facilitates management reports; provide accurate and timely reporting on the financial activity of individual projects and investments as well as on a consolidated level compared to approve budgets. Preform post mortem analysis on delivered project and analyze the actual return on investment vs. the estimated assumption used for the financial justification.
- CPA or MBA with emphasis in finance, accounting, or management an added advantage
Professional Experience & Financial Knowledge
- Priority will be given to exposure in operations of a pharmaceutical/heathcare company with APAC experience
- Adequate knowledge and understanding of accounting principles, and financial, analytical and modeling experience
- Revenue cycle and Accounts receivable
- ayroll cycle, Inventory cycle, Fixed Asset cycle and Cost accounting
- General Ledger requirements
- Tax Planning and Cash Reporting
- Currency Exposure Management
- Sarbanes Oxley
Adequate financial, analytical and modeling skills (e.g., return on investment evaluations). Adequate knowledge of compliance & controls - SOX compliance and local financial regulations; Teva accounting policies and guidelines.
Matrix: International Markets SVP Finance
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