Abbott Latin America / Canada Area Controller in Lake Forest, Illinois
At Abbott, we're committed to helping people live their best possible life through the power of health. For more than 125 years, we've brought new products and technologies to the world -- in nutrition, diagnostics, medical devices and branded generic pharmaceuticals -- that create more possibilities for more people at all stages of life. Today, 99,000 of us are working to help people live not just longer, but better, in the more than 150 countries we serve.
The Latin America / Canada Area Controller manages and execute a wide range of financial responsibilities in support of the LAC Area Consolidation process including key Financial Analytics to ensure the overall effectiveness of the Planning process including timeliness; accuracy; and integrity. Responsible for delivering Sales/Income objectives by developing and establish Planning process/guidelines that provide decision support systems/analytics on a consistent basis for all organizations within LAC. The LAC FPA organization has the functional responsibility for the analytical support required prior to submission to Division for all Plans/rLBEs across the total Area of the LAC business, representing $450MM+ in Sales and $200 Million of Margin. The International business brings a set of dimensions and complexities, which need to be properly defined, understood, and articulated to senior management.
This position will also have direct financial responsibility for the Distributor Region; Central America Region; Colombia along with supervision of the Controllership functions; which represents $140MM in Sales and $70MM in Margin.
Directly manages a team of 8 and a total team of 16 Finance professionals.
CORE JOB RESPONSIBILITIES:
Responsible for implementing and maintaining the effectiveness of the quality system. Additional responsibilities include:
Financial Planning and Consolidation
Manage the development; consolidation; analysis and reporting of the Plan and rLBEs for the Area including financial counsel and guidance to the organization. Foster an environment that systematically delivers comprehensive analytics and anticipates/responds to changes in the market. This includes support of both the Business Units and Commercial Area Finance organizations all with different business issues and complexities including the international component of their respective businesses.
Key activities include: Provide financial expertise in evaluating and identifying the key issues and gaps in business performance and emerging business needs and delivering analysis that provides a foundation for management understanding and action.
Financial Analysis/Decision Support
Consolidate and provide a concise overview that will guide Senior Management to understand the key drivers of profitability issues relating to any given Plan or rLBE cycle.
Provide meaningful; value added analytics to influence and counsel senior management on potential opportunities and/or exposures
Develop flexible; comprehensive analytical tools for use by Regions/Countries for effective decision support tools
Develop management presentations for Plans and rLBEs. The presentation and related backup analysis must be comprehensive and include the assessment of all data and assumptions used in the planning development for reasonableness and the degree of achievability of these forecasts.
Coordinate and influence the development of the Corporate Review book with emphasis on content and message (i.e. critical success factors and key assumptions).
Establish annual Planning calendar on a timely basis with the appropriate involvement of senior Management.
Timely development and issuance of Plan and rLBE Instruction packages. Instructions must be clear and concise to ensure the overall effectiveness of the Planning process.
Key processes include:
Consolidation of Balance Sheet and related Cash Flow Analysis for the Area. This includes thorough understanding of causal variances along with detailed analysis of both Inventory and Receivables/DSO.
Personnel Rationalization - includes analysis and matching of resource requirements and funding availability. Where appropriate look at redeployment opportunities between reporting organizations.
Exchange Validation - as part of the formal review process; Exchange variance versus current benchmark must be validated for reasonableness. This involves significant interface with the Commercial Areas and Corporate Treasury. Throughout a given Plan or rLBE cycle with minimal turnaround; provide thorough ad-hoc analysis to Division/Corporate identifying potential risks and/or opportunities associated with different Spot Exchange rate assumptions provided by Treasury. Corporate Treasury continues to place a greater emphasis and importance on Exchange and continues to look at ways to maximize profitability.
Analysis and Execution of annual Standard Cost Change Process for the Area.
Entity Planning - Manage the LAC Entity consolidation process. Must coordinate efforts with the Transfer price group; Corporate Treasury; and ISSG to ensure Entity profitability is met consistent with Corporate Tax strategies.
Data Base Integrity - the integrity and validity of financial information is critical to the organization in making timely and informed business decisions; which support Division/Corporate goals and objectives. Work to safeguard security and potential corruption of approved Plans and rLBEs on an ongoing basis. Requires constant interaction with the organization.
Special projects and ad-hoc requests from both Senior Division & Corporate Management.
Non-Routine Activities include:
Participate in the Exchange Exposure project sponsored by Corporate Treasury who is coordinating efforts with the operating divisions to align the Hedge program and the divisional exchange accounting per CFO directive.
Rework and refinement of existing planning process on an ongoing basis. Solicit and review feedback from all parts of the organization on the evaluation of the various changes to the planning process (Business Unit emphasis) within the Division and define a common approach/best practices to be used going forward.
Implement and monitor the Internal Control process for LAC. Ensuring that the CFM policies and operating guidelines are followed and fully complied for the planning process.
Identification and implementation of process improvements to streamline/eliminate "C" activities. Identify activities by Area that are classified as nonessential "C". Develop recommendations to eliminate these activities and review with appropriate affected finance/functional area to ensure management understanding and acceptance.
MINIMUM EXPERIENCE / REQUIREMENTS:
8-12 years of finance/accounting experience
International Divisional, Area or Affiliate experience preferred
Excellent oral and written communication skills, innovative thinking and problem-solving ability
Analytical and organizational skills
Spanish is preferred
Power-Excel user and previous experience with Essbase and or TM1 is preferred.
Education Requirements: Bachelors degree in Finance or Accounting required.
MBA/CPA preferred but not required.
An Equal Opportunity Employer
Abbot welcomes and encourages diversity in our workforce.
We provide reasonable accommodation to qualified individuals with disabilities.
To request accommodation, please call 224-667-4913 or email email@example.com