Our client, a leading pharmaceutical organization, is looking to engage with a Chief Financial Officer to work closely with Chief Executive Officer and the Finance Team at large.
The Chief Financial Officer will report to the Chief Executive Officer. He/She is responsible for the overall management of all financial aspects of the company. The CFO has primary day-to-day responsibility for planning, implementing, managing, and controlling all financial-related activities of the company. This includes direct responsibility for accounting, finance, forecasting, strategic planning, costing, deal analysis and negotiations, board relationships, compliance, tax, and audit as well external financing.
The Chief Financial Officer is part of the executive team and is a partner to the Chief Executive Officer. He/She acts in full independence and interacts with the board of directors to recommend initiatives that enhance and protect shareholders’ value.
Major Accountabilities –
Responsible for oversight of day-to-day finance and accounting operations of subsidiaries.
Responsible for the consolidation of financial statements across headquarters and subsidiaries.
Prepare in a timely and accurate manner monthly, quarterly, and annual financial reports in accordance with the most current IFRS guidelines.
Take the hands-on lead to implement at the subsidiary level a comprehensive manufacturing costing system.
Provide analytics and financial information to the CEO, other members of the Management Team, to evaluate the initiative and support decision making.
Maintain banking relationships and serve as primary liaison with financial institutions.
Maintain close relationships with prospective capital providers.
Prepare cash flow projections based on input from subsidiaries. Suggest cash preservation initiatives.
Compliance and risk management -
Report risk issues to the audit committee of the board of directors.
Manage revenue recognition and ensure strict compliance with accounting standards.
Lead annual audit process, ensuring year-round compliance with GAAP and IFRS accounting standards.
Review, manage and establish internal systems and controls, processes and procedures to ensure the integrity of financial information and reporting.
Lead timely and accurate preparation of tax returns and other information as required by governing bodies.
Evaluate and administer risk management and ensure appropriate insurance cover for all critical assets and activities.
Budgeting and Long-Range Plans -
In concert with the CEO, drive the annual budgeting process, including providing guidance, preparing
projections, conducting reviews, and defending the overall financial plan to the board.
Provide financial input to long-term strategic plan development.
Provide support to the CEO and the head of M&A in analyzing potential acquisitions
Support the design of Due Diligence streams by selecting vendors and designing the scope
Contribute analytical support and insights to formulate recommendations to the board Communication and Leadership
Support, coach, motivate and align finance leadership teams at the subsidiary level.
Provide executive management advice on the financial implications of business activities.
Provide executive management recommendations to strategically enhance financial performance and business opportunities.
Provide leadership, guidance, and coaching opportunities to direct reports and peers
Priorities within next twelve months -
Improve budgeting process
Implement product level cost accounting system
Drive profitability through product rationalization
Implement a full-fledged ERP system
Support M&A strategy
EXPERIENCE REQUIRED -
At least 15 years of experience in finance management
Exposure to emerging markets including India
SPECIFIC SKILLS REQUIRED -
Strong leadership skills
Strong focus on compliance matters
KEY PERFORMANCE INDICATORS -
Gross margin, opex and capex control
Budgetary discipline and cost monitoring and improvement
Treasury and cash management
Minimize and appropriately manage forex exposure
Active involvement in compliance management
Employee development and engagement
Interface with leadership team and the board