Finance Controller - Core Lab Division (Mississauga)



Accounting & Finance
Mississauga, ON, Canada
Posted on Thursday, July 11, 2024

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

Under the supervision of the Core Lab Area Finance Director and the General Manager, the Controller is responsible for the control, integrity, management and reporting the P&L and Balance Sheet as well as responsibility for administrative Control & Compliance of policies and procedures. In addition, the Controller has direct responsibility over the supervision of 5 direct reports, including 4 managerial positions, and 10 indirect reports overseeing: Contracts and Pricing, Sales Analysis, Warehouse and Logistics, Facilities Management,
Customer Service and Order Entry, Inventory Management, Incentive Compensation and Capital expenditure.

What You’ll Do

P&L and Balance Sheet Responsibilities include:

  • Manage & report Core Lab, Molecular and Abbott Point of Care sales, product costs, operating expenses, as well as headcount
  • Prepare budgets by establishing schedules; collecting, analyzing, and consolidating financial data for Plan, LBE, S&OP and LRP
  • Achieve budget objectives by scheduling expenditures; analyzing variances and initiating corrective actions
  • Generate financial reports and conduct analysis of potential savings and spending
  • Prepare financial reports and present findings and recommendations to top management
  • Ensure the Divisions’ financial objectives are achieved and that actions are profitable
  • Manage projects in relation to finances
  • Identify spend opportunities and savings for reinvestment and other strategies
  • Prepare reports by collecting, analyzing, and summarizing information and trends
  • Represent Canadian affiliate and be the key Financial liaison for Core Lab, Molecular and Abbott Point of Care commercial divisions
  • Manage and report approx. 85 headcounts
  • Manage, plan and report Balance Sheet items including Accounts Receivable (AR), Inventory, Fixed Assets,
  • Prepaid, Other AR, Notes & Accounts Payable, Accrued Wages, etc.
  • Oversee, manage and ensure the accuracy of various financial planning systems used by the Divisions, including TM1, Host Analytics, VGSAM and various Excel based reports
  • Manage 2 direct reports

Control, Compliance & Actuals responsibilities include:

  • Guide financial decisions by establishing, monitoring, and enforcing policies and procedures
  • Ensure that all financial decisions are made with regards to Abbott policies & procedures, laws, ethics and regulations
  • Protect assets by establishing, monitoring, and enforcing internal controls
  • Represent the Divisions by managing both internal and external audits
  • Review and approve sales incentives, service incentives as well as head office incentives
  • Maintain professional and technical knowledge
  • Protect operations by keeping financial information and plans confidential
  • Lead Quarterly Balance Sheet reviews with IFO

Responsibilities relating to the Division’s Forecasting department includes:

  • Coordinate Core Lab's sales forecast process and supporting documentation for Plan, LBE, S&OP and LRP
  • Obtain extensive knowledge of business conditions and marketing strategy to support sales forecasting in order to ensure forecast accuracy
  • Lead / Support Product Managers, Marketing Directors, Sales Excellence Manager and Strategic Pricing Manager as well and Manager FP&A on forecast process
  • Oversee the development of long range forecasts to identify critical performance gaps
  • Ensure accuracy & integrity of the Supply & Demand system (Manugistics) and reported commentary
  • Preparation / Review of the monthly S&OP reporting package per local reporting requirements
  • Support Products Managers with various analysis and scenarios during new products launches as well as during Plan & LRP

Budget Oversight:

  • Oversee commercial spend for Plan, LBEs and LRP
  • Ensure monthly reviews with GM, Marketing and Sales Management to assess trade spend needs
  • Review all month-end analysis and reconciliations required to support Balance Sheet accruals
  • Track all trade spend to ensure no overspend and to understand the spend requirements
  • Ensure accurate systems are in place to support all Trade Spend accruals
  • Be the financial liaison between Sales, Marketing, and Area
  • Work on and/or lead special projects and analysis as required
  • Conduct monthly reviews with Senior Management to enable business investment decisions

Responsibilities relating to Capital Expenditures include:

  • For all departments reporting to Core Lab General Manager:
  • Prepare/ Review and circulate for approval RCEs in accordance Abbott Policy
  • Manage the integrity of the RCE Database
  • Obtain all supporting documentation including supplier quotes to justify both financial and non financial capital requests
  • Calculate the discounted cash flow and ROI on all financial capital requests
  • Manage, budget and obtain approval for all Capital expenditures for Plan, LBE & LRP
  • Evaluate and assess risks and opportunities for all capital expenditures
  • Ensure expenses

Required Qualifications

  • Bachelor's degree required
  • 3 to 5 years of working in public accounting leading audits of medium to large companies
  • 2 to 3 years of Controllership in commercial

Preferred Qualifications

  • Ability to identify and implement proper financial controls and reporting procedures
  • Good ability to motivate, develop and manage staff
  • Good Communication skills and excellent professional ethics
  • Technical and functional skills in financial controlling and reporting
  • Strong customer focus and analytical skills
  • Working knowledge of all financial systems including JDE, TM1, Host Analytics as well as Office