Director, Finance
FPCNational - Plymouth, MA

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Our client is a multi-billion dollar medical device company looking for a Director of Finance for one of their business units. This position reports to the GM of the division.

This position is responsible for the overall management of all aspects of Financial Reporting efforts for our client (US and Europe). S/he will be responsible for Accounting and Finance in relation to all investments, cost-rolls, and manufacturing analysis. S/he will provide financial analysis of potential licensing deals, internal projects, and M&A and Partnership opportunities as well as exercise budgetary control. This individual will prepare monthly reports for inclusion in the President’s Monthly Review. S/he will be responsible for leadership of the annual budgeting process and will have control over business capital expenditure & working capital. Additionally, s/he will develop and manage sales, financial reporting systems, distributor contracts, and the commission plan. This individual may also manage and have direct responsibility for Customer Service and IT groups.

Responsibilities:1. Overall Financial Responsibility:
Support developing and executing business strategy

Advise Management on financial and accounting policies & practices

Exercise financial control over the following areas to ensure adherence to budgets & sound commercial practices:

  • Payroll costs incl. headcount and hiring schedules
  • Marketing expenditures: promotions, consultancies, conferences, etc
Customer rebates & discount schemes

Inventory provisions: recommend provisions to Finance

Bad debt provisions: recommend provisions to Finance after review with Accounts Receivable

Review all major BU accruals with Finance to ensure all costs fully provided for

Review product margins by customer and recommend suitable price changes to BU Head

Review transfer prices in order to avoid tax exposures

Work to develop cost roll ups for all and analysis for all manufacturing investments

Responsibility for financials to include European operation

Develop/manage and prepare direct sales commissions, distributor commissions and Partnership commissions.

2. Monthly BU Report:
Prepare Monthly Report for President’s Monthly Business Review

Review monthly SG&A expenses by department and report to parent CFO on reasons for major variances

Introduce Results Variance Analysis (Volume/Mix/Price/Cost) & Customer Profitability models

Introduce monthly/quarterly Sales & Results forecasting as required

4. Leadership of the Annual Budgeting Process:
Lead and manage the annual budgeting process

Prepare and manage schedule for Annual/Mid-term Plan budgeting exercise incl. meetings & discussions

Actively participate in internal discussions and subsequent financial review

Ensure all required financial schedules completed in a timely manner for consolidation

Support preparation of section of Budget Book

5. Capital Expenditure & Working Capital:
Prepare financial evaluations for capital expenditure proposals after verifying all relevant assumptions

Review inventory levels in order to ensure optimal investment and initiate action to reduce excess

Review Accounts Receivable balances and liaise with Sales to drive recoveries from delinquent accounts

Provide financial modeling and Work with BU Heads/Business Development/Parent CFO to recommend potential acquisition targets

6. Sales and Financial Reporting Systems

Lead a cross functional team to determine what sales and financial reporting systems that our client and the other business units require

Develop the requirements document and specifications surrounding these systems

Lead the development and instillation of these systems

Develop specific sales and financial reports

Maintain and update financial systems as necessary

Creation of ad-hoc quires

7. Commission Plan Management

Develop and Manage distributors and 1099 agreements, strategic partners, direct sales and clinical support teams.

Lead a cross functional team to develop a commissions management system

Lead the Implement the commission management system

Maintain and update this system as necessary

Assist in the development of Sales Commissions schemes

Run the monthly commission report and work with HR to ensure timely payment

8. Develop and Manage externally contracts for PRP, BMAC and Distributors and Strategic Partners

Manage international expansion contracts for direct distributors and regional agreements

9. Support VP/Parent CFO as required on ad hoc financial/management accounting and associated requirements

Bachelor’s in Finance/CPA or equivalent

Minimum 12 years of experience in a Finance or an Accounting position with progressive increase in responsibility

Experience in managing large staffs, including but not limited to Customer Service, IT and Accounting.

Must have keen analytical skills with “hands-on” approach

Must be sharp commercial acumen & negotiation skills coupled with good judgment

Must have strong inter-personal and communication skills

Must have the ability to cope with stress and continuously changing demands/priorities

Must have a willingness to learn new skills/techniques

Knowledge of ERP (SAP, JDE, Oracle)

Proficient in Microsoft Word, PowerPoint, Outlook, with advanced Excel skills