Assistant Financial Controller

Abbott Laboratories (Cavan, Ireland) 4 days ago

About Abbott

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 109,000 colleagues serve people in more than 160 countries.

Abbott serves the Irish market with a diverse range of healthcare products including diagnostics, medical devices and nutritionals products. In Ireland, Abbott employs over 4,000 people across nine sites. We have six manufacturing facilities located in Clonmel, Cootehill, Donegal, Longford and Sligo and a third-party manufacturing management operation in Sligo. Abbott has commercial, support operations and shared services in Dublin and Galway. We have been operating in Ireland since 1946.

Abbott Ireland Nutrition Division Cootehill Cavan

Abbott Nutrition produces a range of infant formulae in all pack sizes under the brand name “Similac”. To complement the range of “Similac” infant formulae, the facility also manufactures a range of follow on formulae under the brand name of “Gain”. The essential ingredient is liquid skim milk and this is combined with carbohydrate, vegetable oils, vitamins and minerals. The product is blended, pasteurised, dried and packaged at the site and once packaged, is distributed to Europe, South East Asia, the Middle East, Latin America and Canada.

 Established in 1975, Abbott Nutrition in Ireland is the largest powder manufacturing facility for the production of infant formulae within the Abbott Corporation worldwide.  Approximately 1,000 dairy farms in Ireland and Northern Ireland supply quality milk to the Cootehill facility which processes 500,000 litres per day. This secure supply together with Ireland’s reputation as a green, clean environment is of significant strategic importance to Abbott Nutrition.

Primary Function

As a key member of the Finance team, reporting to the Financial Controller, the Assistant Financial Controller has responsibility for ensuring sound financial stewardship for the site and other critical activities such as financial reporting, cost/inventory/standards management, ensuring compliance and adherence to all in-country and corporate financial policies.

Key Requirements

  • Follow all Health and Safety Rules and Regulations in the plant.
  • Report any current or potential hazards to your immediate supervisor/dept. manager immediately.
  • The correct Personal Protective Equipment (P.P.E.) must be worn at all times in non- office environment.  Safety glasses, safety shoes and gloves were appropriate.  PPE guidelines relating to COVID are strictly enforced while on site.
  • He/she is responsible for consulting any SOP’s for any job task he/she may carry out and ensure they fully understand and adhere to the SOP.

Major Responsibilities

  • Lead site cost management analysis, establish and maintain a value-adding partnership with the leadership providing timely, insightful management reporting with an emphasis on, and attainment of superior financial performance through collaboration and high standards in financial stewardship.
  • Ensures financial policy adherence across the site for inventory management, capital management, procurement and payroll processes.
  • Manages relationship with statutory reporting/corporate teams and external audit partners.
  • Manages and reviews all site SOX related documents and audits requests.
  • Ownership of Balance Sheet reporting and accuracy for the site including oversight of reconciliation processes conducted by Shared Service Centre. Monthly review of same.
  • Completion of balance sheet reconciliations as required at month end.
  • Completion of journal entries and other month end related activities including ledger to sub-ledger reviews and reconciliations.
  • Conducts Usage Variance analysis and PPV reviews, finds opportunities to improve processes and reporting as part of continuous improvement journey.
  • Assist with the FP&A processes relating to month end reporting and quarterly forecasting of performance.
  • Frequent engagement with senior leaders regarding financial reviews, providing insights to the business and identifying cost savings opportunities.
  • Presenting financial performance and results to senior executive level stakeholders
  • Perform financial appraisal and analysis, recommending alternatives courses of action by utilising appropriate financial tools (e.g. DCF/ROI (discounted cash flow/return on investment)
  • Support site Continuous Improvement journey through development of cost savings opportunities and initiatives in coordination with functional leadership teams
  • Assist with financial plan development including standard cost setting, overhead and capacity calculations, capital and project expense development
  • Other assignments/projects as directed by the Financial Controller

Supervisory/Management Responsibilities: 

  • Supervision and co-ordination of the Finance team on behalf of the Financial Controller as required.

Education / Skills/Experiences

  • Third level relevant qualification – Accountancy qualification required with ACA, ACCA, or CIMA designation
  • Minimum of 7 years’ experience in an accounting function, preferably a background in a process production environment. Manufacturing experience required.
  • Strong working knowledge of manufacturing accounting systems and particularly standard costing methodologies
  • Strong technical accountant with working knowledge of USGAAP and IFRS reporting
  • Excellent communication & interpersonal skills. A proven leader.
  • Strong team building skills with proven abilities in decision-making and sound personal judgments
  • A collaborative mindset, with a partnering approach to achieving collective and favorable outcomes for the site
  • 5 years of team leadership experience, including management of direct reports and all aspects of same, including development of team

Accountability / Scope

  • Timely fact-based decision making
  • Systems in place to ensure proper accounting techniques applied
  • Significant inventory values and throughput volumes
  • Monitor, prepare and lead the review of financial reports and packages with site leadership by gathering and analyzing information related to current performance – Cost of Sales, Unit Cost, Productivity etc.
  • Formal goals are set and reviewed
  • Lead Financial function in absence of Financial Controller

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Assistant Financial Controller

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