About Abbott

Abbott is a global healthcare leader, creating breakthrough science to improve people’s health. We’re always looking towards the future, anticipating changes in medical science and technology.

Working at Abbott

At Abbott, you can do work that matters, grow, and learn, care for yourself and family, be your true self and live a full life. You will have access to:

• Career development with an international company where you can grow the career you dream of.
• A company recognized as a great place to work in dozens of countries around the world and named one of the most admired companies in the world by Fortune.
• A company that is recognized as one of the best big companies to work for as well as a best place to work for diversity, working mothers, female executives, and scientists.

The Opportunity

This position works out of our Mississauga, Ontario location in Abbott’s Vascular Division. Abbott Vascular provides innovative, minimally invasive, and cost-effective products for treatment of vascular disease.

As the Finance Manager, you will have responsibility for:

Core Job Responsibilities:

• Ensure compliance responsibilities are completed in accordance with policies & procedures for area of responsibilities through performing internal audits and reviewing existing processes and procedures according to Abbott’s policies and local and international legislations, keeping appropriate documentation for future Audits as well as performing internal Audits at the Division Level.
• Responsible for leading the process of planning, managing, analyzing and consolidating the AV affiliate local planning cycles with AV finance team, working closely with AV business departments, preparing the annual business plan, long term plans, and monthly estimates for the local affiliate and reviews to ensure it is realistic and adheres to overall company goals, vision, mission and objectives monitoring related performance. The Finance Manager is also responsible, along with the GM, of presenting the plan to the Area level.
• Ensure optimization of resources and define development needs of each member of the team as well as the team itself.
• New projects feasibility evaluation for future implementation, support to Marketing and Sales Force teams.
• Capital Equipment controls, manage deals and contracts, responsible for controlling equipment in the field and contract management as well as consumption and maintenance.

S&OP PROCESS:

• Lead involved areas within Division and consolidate the demand review process in ensuring new forecast assumptions are reasonable and in line with company objectives before getting to S&OP meeting.
• Prepare financial reconciliation with current ADS approved and comparison with previous ADS. Responsible for forecast of price adjustments to be included in ADS.
• Actively participate in the S&OP meeting and support General Manager.

PLANNING:

• Responsible for planning, managing, analyzing and consolidating the AV affiliate local planning cycles with AV finance team. Work closely with Departmental Management to ensure success of the cycles.
• Responsible for preparation of the Annual Plan and Latest Best Estimates for the local affiliate and reviews to ensure it is realistic and adheres to overall company goals and objectives. Monitors related performance.
• Responsible for preparation of Affiliate planning calendar based on Division/Area planning calendar for all the divisional requirements, attend meetings for the sales & expense review and ensure that marketing understands all deliverables & expectations.
• Review compensation Plan to ensure completeness (i.e. all individuals are accounted for & individuals are in correct dept.) and validate the % increases. Review and challenge the planned expenses requests coming from all departments of the Affiliate (marketing, sales, administration, etc.) for the Plan, LBE and LRP.
• Responsible for the Price Adjustment forecast for the respective cycle (i.e. Plan or LBE) and prepare appropriate supporting documentation.
• Attend Affiliate internal sales & expense review and assist General Manager in challenging sales & expenses assumptions for the Plan, LBE and LRP cycle.
• Attend Area review meetings (Plan, LBE and LRP) and present the financials of the Canadian Affiliate
• Responsible for financial accuracy of PowerPoint presentations for the Plan, LBE and LRP cycles to ensure financial accuracy and consistency between marketing and finance slides
• Responsible for the Plan and LBE books which are the basis for the Area to review all assumptions and financials (provide commentaries, variance analysis, key plus/minus, headcount analysis, capital, etc.).
• Review for reasonableness the sales and expenses calendarization for the respective cycle (i.e. Plan or LBE).
• Lead AV Canada finance team & marketing team to complete a full P&L LBE & review with General Manager prior to submission to Area.
• Oversee the LRP process and work with AV finance team to build the 5 year P&L of the AV local affiliate.
• Complete the commercial requirements for expenses management with respect to the financial planning process. Provide financial support to managers and External Operations group.
• Review on a yearly basis the shared service allocation proposal coming from CFS and ensure it is well documented.

COMPLIANCE:

• Ensure compliance responsibilities are completed in accordance with policies & procedures for area of responsibilities.
• Review & approve journal entries with supporting documentation (tactic sheet & invoices) to ensure validity of journal entries.
• Review balance sheet and attend balance sheet review meeting with accounting department.
• Ensure completeness of SOX testing related to AV as required by Corporate Finance.
• Assist in internal audit requirements as needed and ensure that there are no internal audit weaknesses relating to AV Canada Affiliate.
• Key contact for any new compliance initiatives required by Compliance group.

OTHER:

• Define, propose and implement approved objectives, policies and procedures for the AV Canada finance department. Ensure optimization of resources and define development needs of each member of the team as well as the team itself.
• Review and approve quarterly sales incentive and commission payouts, making sure they adhere to the country and regional guidelines.
• Review third party contracts and complete any ad hoc analysis that may be required.
• Responsible for financial slides required for any planning cycles or any business review meetings with Area or Division.
• Ensures adequate financial analysis support for the Direct Reports of the General Manager in preparing monthly operating comments and other requests from senior management and Area.
• Responsible for the preparation of all necessary financial analysis and information in a timely and accurate manner.
• Responsible for preparation of the AV Capital plan and Request for Capital Expenditures (RCE) in order to ensure compliance with policy and procedures.
• Challenge and question financial aspects of the business. Provide ongoing financial recommendations and answer queries.
• Elevate financial data, opportunities or challenges to senior management/ Area when appropriate.
• Translate the global financial perspective into tactical work streams to ensure compliance at all levels.
• Responsible for Business Excellence and improvements in areas of responsibility.
• Prepare ad hoc analysis for General Manager or Area Finance Manager.
• Responsible for financial review of New business Opportunities and contracts.
• Liaise with any shared services in case any business challenges/issues need to be addressed.
• Capital Equipment management, new deal analysis, inventory control, spare parts controls, maintenance, consumption and contract controls, demand planning.
• CRM process management, CRM system adjustments and control, create and develop new functionalities in the system according to business needs, follow up and reports to Commercial teams.

ADMINISTRATIVE RESPONSIBILITIES:

• Responsible for approving the following:
• Check Requisitions (for A&P, Marketing administration, Direct selling, General administration, price adjustments, etc.)
• Invoices over approved threshold (review coding to ensure accurate)
• Advertising & Promotion Dockets (ensure completeness of information)
• Advertising & Promotion purchase orders
• Purchase requisitions
• Personnel Requisitions review – include cost center and position number
• Notices of Deductions provided by credit department

Education/Experience/Competencies:

• Professional Degree, preferred in Accounting, Business Administration or Economics.
• MBA or Masters degree (desirable)
• CPA is required
• 5 or more years of people management experience
• 8 or more years of financial management
• Compliance oriented;
• Communication skills, strong articulate in interpersonal;
• Ability to establish realistic work plans needed to comply with the dates established by the Area.
• Ability to assess situations where controls are showing faults.
• Can take a business approach to problem solving and systems planning;
• Ability to effectively manage people;
• Negotiate and influence others; for funding, projects, acceptance;
• Displays initiative and can make decisions;
• Can introduce an innovative management approach where required;
• Results oriented;
• Ability to take key actions and demonstrate behavioral anchors that support all Abbott.
• Financial Planning
• Accounting
• Sarbanes Oxley Act
• Audits

Follow your career aspirations to Abbott for diverse opportunities with a company that can help you build your future and live your best life. Abbott is an Equal Opportunity Employer, committed to employee diversity.

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