Operation Finance-Manager
General Electric
Total years of experience :33 years, 9 Months
• Managing finance portfolio in Life Sciences Business across three regions Middle East, Africa and Saudi covering over 30 Business Markets with annual turnover of $500M and leading team of two people. The product include selling of Contrast media scanning agents and Nuclear medicines used in early cancer detections and agents used in other ailment related diagnostics.
• Liaising with Demand planners, Supply chain on scheduling product deliveries and Invoicing to go for the quarter and identifying Risk and Opportunities to the management proactively so as not to miss the timelines and Quarter estimates.
• Actively engaging with Operation and Sales team to understand and market impact on Product positioning, Pricing, Promotion plans, Marketing and Headcount requirements and to roll out the best possible scenario on Sales to Operating Margin annual budget and long term projection for next three years.
• Engage in Quarter closes activity and manage direct pulse calls with HQ for the region.
• Managing weekly QMI with Commercial and Operations to deliver on quarterly estimates vs Plan.
• Managing calls with Controllership on revenue recognition and Proof of Deliveries to avoid any risk on revenue recognition owing to deficiencies in the quality of acceptable POD’s.
• Coordinate with different functions on Internal Due To /Due From, Payables(AP), External billing to Customers(AR) settlement, Collections and timely resolution of aged items.
• Support Global tax teams to complete US & Statutory tax filings by providing Operating summary by Region, Countries and Product P&L’s.
• Conduct frequent reviews with Operations to deliver plan numbers for the Quarter and proactively identify and communicate any gaps and upside to the HQ to manage region risk and opportunities.
• Conduct Half yearly Balance Sheet reviews and devising action plans for resolving open items.
• Manage Audits - Statutory/ Internal / STAT 2 GAAP.
• Support to Corporate Auditors on internal audit queries and providing responses.
• Assist treasury function in cash collection and meeting cash targets for the region by facilitating calls and engaging proactively with Operations and Sales team.
• Proactively identifies new revenue recognition standards applicable to the business and develops appropriate implementation strategy in the Region.
• Sharing Finance best practices with the Operations team frequently and ensuring they were adequately trained on finance processes.
• Manage Base and Other Variable cost and lead projects to drive controls around it also ensure minimal variances vs the target set for the year.
• Currently managing Portfolio of $1.2b across three regions.
• Conducting Margin review on contracts in different regions to determine margin & productivity impact on long-term CSA contracts
• Exposure to Transactional and Deferred accounting.
• Escalation reviews on the contracts and to align them to the contract language.
• Manage Ops Review quarterly on high risk and volatile contracts in discussions with Ops team.
• Controls complete accounting on LTSA contracts under different region.
• Manages withholding taxes, Payables, external billing to Customer.
• Support the Global tax teams to complete US & Statutory tax returns by providing operating summary by region, countries and contracts.
• Conduct reviews with Ops team to deliver OP numbers for the quarter and any gaps are communicated to the HQ to manage risk.
• Half yearly Balance Sheet review and devising action plans for resolving open issues.
• Handling audits - Statutory/ Internal / S2G/ Tax / Transfer Pricing Audits.
• Support to Corporate Auditors
• Cash Management & Treasury.
• MIS reporting - Budgeting, Variance analysis, Operating Reviews quarterly.
• Assist with cash collection efforts. Ensure adherence to project milestones, and drive accurate and timely billing.
• Proactively identifies new revenue recognition standards applicable to the business and develops appropriate implementation strategy.
• Manage the Ops team teams ensuring they are adequately trained on finance processes and provided with the support required to do their job effectively.
• Lead monthly project reviews to ensure focus is maintained on cost control and revenue recognition.
• Manages Base cost and lead projects around it.
Extensive Accounting, Controllership, Financial Planning & Analysis, Stat filing experience in MEA, Budgeting & Forecasting, Auditing & Tax.
Extensive Accounting, Controllership, Financial Planning & Analysis, Stat filing experience in MEA, Budgeting & Forecasting, Auditing & Tax.