Finance Director

Abbott Laboratories; Petaling Jaya; On-site; MYR 80,000 - 150,000; Full time

Job summary

An established industry player is seeking a seasoned financial professional to manage and mitigate financial risks for its nutrition business. This role involves developing financial strategies, providing insightful analysis, and ensuring adherence to internal controls. With a focus on profit maximization and resource prioritization, the successful candidate will drive financial planning and support senior management in key decisions. This is a fantastic opportunity to leverage your extensive experience in finance and accounting within a dynamic and impactful environment.

Qualifications

• Minimum 15 years of experience in finance/accounting at a senior level.
• Experience leading a team of finance professionals.

Responsibilities

• Manage financial risks and develop financial strategies for growth.
• Provide financial counsel and analysis for strategic initiatives.
• Ensure proper inventory management and control.

Skills

Financial Analysis

Risk Management

Financial Planning

Profit Maximization

Negotiation Skills

Education

Degree in Finance/Accounting

CPA/CA Certification

Job description

PRIMARY OBJECTIVE:

• Manage the financial risks of Abbott Malaysia nutrition business through implementation of appropriate controls and procedures.
• Develop appropriate financial strategies and implement programs with administrative excellence in accordance with the Nutrition’s strategic objectives
• Provide support to ANI business relating to financial analysis, evaluation and justification of business models, financial planning & controls, gross margin improvement, risk evaluation, licensing agreements, contracts, and return on investment.
• Summarize and communicate complex financial situations in a clear/concise manner explaining thought processes and analysis to Senior Management. Support GM in key decisions and ensure responsible investment decisions

CORE JOB RESPONSIBILITIES :

Provide financial counsel and analysis for proposed strategic growth initiatives, monitor local operations performance against financial LRP/Plans/Updates/LBE’s and ensure management is advised on exposure issues. Drive development and preparation of solid financial business plans (and underlying analysis) to ensure the affiliate delivers its financial commitments. Advise senior management in areas of profit maximization, resource prioritization, negotiating with distributors and day-to-day operations. Anticipate market activities that can impact business. Provide economic/political scenarios. Provide timely inputs to management regarding any financial risks, including those associated with trade activities and inventory issues across the supply chain. Provide recommendations on how to manage these risks In coordination with the host Division, ensure that over all internal controls and administrative procedures are adequately maintained for the nutrition business. In particular, ensure that:

• Total inventory of Abbott products across the supply chain are within contractual and/or agreed targets (with management)
• Design and operation of adequate controls around Channel Inventory.
• Trade promotion activities, including price discounting, free goods promotions and similar activities are properly monitored to ensure that these are within approved budgets and will not lead to accumulation of trade inventory beyond targets
• All expenses related to the above trade promotion activities are properly and timely recorded in the books
• Trade promotion programs are reviewed and evaluated to make sure that amount of investment achieve the desired returns (ROI)
• Drive the demand management team to develop robust demand forecasts to achieve acceptable accuracy levels. Ensure the proper inventory mix is maintained at the distributor to ensure no stock outs.
• In cooperation with the distributors, manage risk of excess/expiring products to minimize write offs and returns Review and approve distributor claims in coordination with Host Finance/Accounting

EDUCATION /QUALIFICATIONS / EXPERIENCE:

• Financial/Accounting tertiary qualification to degree level - essential.
• Minimum 15 year’s experience in finance/accounting at a senior level with evident success.
• Experience in leading a team of finance professionals.
• CPA / CA recognition.