20 days old

VP Finance, TIS

  • Job Code
JobId: 381425
JobTitle: VP Finance, TIS
Department: Operations
Location: Somerset Davidson
Description: Job Summary: 
The VP, Finance reports to the CFO and partners with the TMC President & CEO and Executive Leadership Team, to provide financial and broad-based business guidance in developing and executing the companyÙs strategy, and ensuring the business meets critical milestones and objectives. The role is responsible for overseeing all financial operations for Terumo Interventional Systems (TIS) including Terumo Electro Physiology (TEP) and Vascular Closure Device (VCD).  To collaborate with TAH Accounting and TAH Group Treasury

The VP, Finance partners with the TMC President & CEO, TAH Accounting, TAH Group Treasury to develop and drive multi-year financial plans, annual budgets, financial forecasts and analyses, and key performance indicators.  The position will direct and oversee enhancements of the management reporting and financial planning processes, and is a key contributor to the development of the organizationÙs strategic goals by providing thoughtful and innovative financial guidance and leadership.  The successful VP, Finance works across the organization to drive financial management strategy, and develops and implements policies and finance procedures to meet current and future business demands.

The incumbent will be held accountable for leading and developing a staff of financial professionals who are responsible for TISÙ annual budget, financial forecasts and financial analysis including. Will oversee the Management Information System for TIS, oversee Cost Accounting and provide support to NPD\/PMO functions based in Maryland East Plant (MDE) and Terumo Puerto Rico (TPR).  As well as administer TISÙ Corporate Authorization System (CAS) including preparation of Proposals as required.

Job Details: 

1. Management Information & Financial Support:
a. Using the functionality of Hyperion, ensure timely delivery of standardized monthly information on P&L and SG&A expenses to TIS BU Management, TAH CFO and all functional leaders explaining variances from plan and providing suitable guidance on corrective action that may be required.
b. Fully leverage Hyperion to automate preparation and electronic delivery of customized information needs of business leaders in TIS.
c. Oversee presentation of TIS results at monthly review meetings with TAH President and CFO explaining variances from plan and providing guidance on the rest of year outlook.
d. Continuously improve reporting processes and quality of information in TIS by leveraging the Hyperion platform.
e. In consultation with TAH CFO, develop and administer Performance Metrics for productivity and operational efficiency across the business.
f. Proactively evaluate acquisitions at a local level in consultation with TAH Group Treasury .
g. Evaluate customer profitability including corporate accounts, bundling arrangements, etc.
h. Evaluate make vs. buy decisions, optimal manufacturing locations (e.g., MDE, PR, CR, etc.)
i. Support marketing on portfolio profitability including SKU margins (by region) and rationalization
j. Actively drive optimization of working capital
k. Liaise with BU Management to secure proper information flow for the reporting of and compliance with regulations concerning expenses incurred on Health Care Providers (HCP). 
2. Cost Accounting & Support NPD\/PMO:
a. Oversee development of new standard costs each budgeting cycle using the Hyperion Profitability & Cost Management (HPCM) system.
b. Participate in the annual Ücost rollÝ process at year commencement to establish new standards within JD Edwards and the creation of revaluation reserves that may be required.
c. Ensure delivery of monthly management information to business leaders at MDE including material yields, plant variance calculations and analyses, SG&A variances to plan by department, actual product costs vs. standard, etc.
d. Provide periodical updates on plant variance and impacts to P&L depending on achievement of annual plan and simulations of various scenarios.
e. Support NPD\/PMO functions by developing and implementing appropriate systems in Hyperion and other suitable applications which would provide management with a clear view on the cost status of various projects vis-à-vis plan and enable them to perform DCF evaluations (NPV, IRR, Pay-Back Period) to simulate the viability of new projects.
f. Evaluate all opportunities for automation of manual functions within cost accounting function
3. Annual Budgeting & Strategic Planning Process:
a. Take full ownership for the Annual Budgeting and Strategic Planning processes for TIS.
b. Develop and secure consensus on schedules and agenda with all constituents.
c. Enforce full compliance with use of standardized processes within Hyperion Planning while ensuring that data entry formats are in accordance with the needs of the business and are made available in a timely fashion with suitable training.
d. Organize budget discussion\/approval meetings and actively participate in deliberations through constructive criticism, ensuring follow up on agreed action points.
e. Ensure population of budgets into Hyperion as soon as approved in order to provide budget owners with proper mechanisms for cost management and control.
f. Continuously improve processes, formats and discussion standards and automate manual work by leveraging Hyperion capability.

4. Business Development & Capital Expenditure Proposals:
a. Support TIS management in developing capital expenditure proposals, challenging assumptions to ensure adequate financial and commercial justification, submission\/explanation to TC (C&V Company).
b. In consultation with TAH CFO develop a capital expenditure policy which would be consistent with TCÙs corresponding policies and guidelines.
c. Support financial evaluation and participate in the due diligence and integration processes for local or global acquisitions by TIS directly or by TC.

5. CAS Administration:
a. Administer CAS process for TIS ensuring observation of proper budgetary control and accounting.
b. Support management in raising Proposals and in monitoring the available balances while ensuring proper booking of expenditure to approved Proposals. 
c. In conjunction with TAH maintain and update CAS regulations for TIS as and when changes are made by TC.

6. Collaboration with TAH Accounting & Group Treasury:
a. Work closely with TAH Finance to ensure timely adherence to financial policies, processes and closing timelines.
b. Ensure accuracy in monthly and quarterly journal entries covering accruals, commissions, GPO administration fees, slow moving and obsolete inventory, inventory valuation (LCM), etc.
c. Review accounting requirements under IFRS and facilitate migration path and timeline in so far as applicable to TMC businesses. 
d. Collaborate with Group Treasury on matters concerning Transfer Pricing (APA), R&D credits, etc. providing such information as may be required.

7. Workforce Planning
a. Partner with the head of HR on topics pertaining to workforce plan forecasting and compensation analysis
b. Partner with sales on pricing and promotion strategies and compensation plans
c. Provide leadership guidance, coaching and development to direct reports: BU Controllers for TIS, MDE Plant Controller, TPR Plant Controller as well as indirect reports


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