Finance Lead - Fall River

Job Title: Finance Lead - Fall River

FLSA Classification: Professional, Exempt

Work Location: Fall River, MA

Work Hours: General: 8:30AM a" 5:00PM (may vary based on business needs)

Reports To: Head of Finance (North America)

Compensation: $90,000 - 120,000 (DOE)

JOB DETAILS

Job Purpose

This section is to be written considering it will be used in a job posting. Summarize why this job exists; and how it contributes to the overall mission/objective of the organization. The content and statements documented in this job description are designed to describe the general nature and level of work as well as provide a basic understanding of the role, responsibilities, and expectations of the person assigned to perform the job. This job description is not designed to provide an exact or exhaustive list of all job duties, tasks, skills, and qualifications. The intent of this job description is to be representative of the knowledge, skills, and abilities needed to satisfactorily perform the essential functions of the position satisfactorily and in accordance with the established performance expectations.

Responsible for Compliance & Budgets, Operational & CAPEX included with IRR & Cost analysis for FR Projects. Routine support to ensure Accounts Payable, Accounts Receivable, Fixed Assets and Inventory accounting and process improvement.

Organizational Reporting

This leadership position reports to the Head of Finance for North America and may have matrix responsibility to the Head of Factory Finance for InvaGen Pharmaceuticals, Inc.

Accountability Clusters and Major Activities /Responsibilities & Tasks

1. Compliance, Budgets, Cost control & Operations including CAPEX

• Ensuring preparation of annual budgets for operations of Fall River including CAPEX and regular tracking of the same every month Vs Plan.
• Preparing Business justifications for all proposed investments including product cost, Variation analysis with reasoning, tracking down key variations.
• Track all $ value actuals with operating plan on a routing basis & work cross functionally to ensure compliance and efficiency.

2. Accounts Payable

• Partnering with the operation team/ vendor for timely payment run.
• Timely resolution of Vendor, GRN, Vendor block related issues.
• Review AP aging, GRIR for any unmatched, aged line items.
• Identifying, determining, and developing new processes that will help the Business meet its goals and targets.
• Work with Business partners in answering queries related to vendor payments.
• Work closely with shared service group for AP related functions.

3. Fixed Assets

• Maintaining FA register and Capital Advance, Capital WIP and Intangible Schedules
• Provide Information and Coordinate for asset disposal.
• Audit support for Fixed Asset physical verification.
• Timely sharing of information for Capitalization of Fixed Assets as per company policy.

4. Inventory

• Inventory roll forward exercise, reconciliation and valuation using Excel.
• Inventory analysis and accrual booking for slow/non-moving, near expiry, rejects, NRV.
• Inventory ageing analysis, monitoring and control.
• Inventory count and physical verification on a periodic basis.
• Preparation and analysis of schedules a" provision movement, ageing, destruction and WIP.

5. Accounts Receivables

• Follow up on third party payment and ensure that overdue invoices are timely collected.
• Prepare AR aging and Sales schedule and ensure timely profit share booking.

6. Reporting

• Preparing various expense schedules to monitor plant expenditures.
• Preparation of monthly plant performance report a" Production, KPIs, and financial metrics
• Budget vs Actual spend analysis for assigned site and reason for variances.
• Support monthly and year end books closing and financial statement finalization with FFM Invagen.

7. SAP and Related Activities

• Ensuring Smooth functioning of SAP process for GL, AP and Fixed Assets
• Supporting IT team in configuration of new process in SAP to have better controls around transactions.

8. Audits and Others

• Support statutory & Internal audit with minimum audit observations and various audit submissions for Fall River

• Implementation of Financials statement control procedures (FSCP) in the future.

Major Challenges/Opportunities

• On time Vendor payment and collection from customers with minimum ageing and periodic balance confirmation.
• Fixed Asset capitalization and depreciation according to company policy
• Correct accrual and control over inventory.
• Working in different time zones and working culture.

Key Interactions a" Roles & Functions

Internal Interactions

• Leadership team of Fall River
• Financials Shared Service Team
• Operation & Project management team
• Cipla IT Team

External Interactions

• Third-Party Vendors and Customers
• Statutory & Internal Auditors

Key Dimensions/Metrics

• Ensuring Compliance & financial discipline in line with the Project plan
• Minimum control gaps and monthly review of processes and controls
• Minimize all audit observations.

Key Decisions

Key Decisions

• Accounts payable controls and process improvement.
• Inventory accrual and physical count.
• Fixed Asset physical verification and reconciliation with books.

Key Recommendations

• Implementation of better controls.
• Maintaining books hygiene.
• Correct Fixed asset reporting.

Education and Experience, Skills & Competencies

Educational & Experience

• Masteras degree in finance with total experience of 9-10 years mainly in accounts payable and fixed assets
• Good understanding of SAP, Excel and Power Point

Skills & Competencies

• Ability to work / manage multi-cultural teams.
• Good understanding of SAP, MS office
• Capable of reconciling transactions with entries reported in books Vs Project Plan.

Physical Requirements:

• Must be able to work on site full time.
• Must be able to sit for prolonged periods of time.

In the last 85 + years, Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 100 countries. Cipla is a fast-growing pharmaceutical company with a continued focus on the expanse of our strong legacy. We articulated our 2022 winning aspiration to double the number of patients we serve and hence, double the impact we create as a global pharmaceutical company. Over the last five years, Cipla has significantly expanded its portfolio and presence in the U.S. with both a generic and brand division. We at Cipla are inspired by our purpose of 'Caring for Life' and strive to extend this philosophy to our associates and their families. We are looking for talented individuals to grow their careers while growing our business.

About InvaGen Pharmaceuticals, a Cipla subsidiary InvaGen Pharmaceuticals, Inc. is engaged in the development, manufacture, marketing, and distribution of generic prescription medicines with focus on a range of therapeutic areas, including cardiovascular, anti-infective, CNS, anti-inflammatory, anti-diabetic, and anti-depressants. The company was founded in 2003 and is based in Hauppauge, New York. As of February 18, 2016, InvaGen Pharmaceuticals, Inc. operates as a subsidiary of Cipla (EU) Limited.