Financial Planning & Analysis lead

Major accountabilities:

Key contributor to the Leadership Therapeutic Areas (“TA”) assigned

• Critical member of the TA Management Team – helps to formulate strategies, guides investment, and implement actions that help to gain market share and increase profitability.
• Setting the tone for good financial practices within the BU
• Maintenance of the TA’s relationship with the local CPO finance team and specifically with the CCFO

2. Leader of Financial Planning

• Lead the Budget, Latest Estimation and Latest Outlook processes and discussions; integrate and coordinate financial processes with the Marketing planning processes at the local level
• Well thought-out and high-quality plans with transparency of assumptions and analyses of risks and opportunities
• Coordinated with all members of the TA management team (e.g., marketing, sales, medical)
• Also coordinated with the CPO (e.g., allocations, or on universal assumptions such as inflation rates)
• Challenging all contributors (including TA Head) to the budget/LE on the underlying assumptions to Budget/LE; pushing back on the team when appropriate
• Attention to forecasting accuracy for both sales and expenses (monthly)
• Participation in the long-term planning of the business through the Strategic Planning process
• Assisting in preparation of Budget/LE presentations for Regional Team
• Work closely with the local Marketing, Sales, Medical and Market Access teams sharing responsibility of formulating business strategies, guide investment and resource allocation, monitoring commitment, implement actions, shared approval responsibility.

3. Analysis/Reporting of Financial Performance 

• Full ownership of and responsibility for all aspects of the IMI BU P&L.
• Analysis of Sales and Market Share (including trending of data) to provide IMI management with insights into the business, early detection of risks/opportunities vs. plan, etc.
• Analysis and understanding of the commercial aspects of the business, e.g., discounts per channel, per customer and per brand.  Benchmark selected key indicators with other Novartis businesses and/or other international companies
• Analysis and control of operational expenses, incl. analysis of variations to the authorized budgets / LEs.
• Managing the headcount analysis and control
• Review and follow-up as needed on: aging of receivables (DSOs), surpluses or deficits of product inventories (stock-in-trade), IMI’s impact on overall CPO working capital and/or country asset limits, and payables to vendors 
• Evaluation of the BU’s Risks and Opportunities, including a latest outlook for the month/quarter/year; also identification and implementation of gap closing actions.
• Communication of unexpected events affecting performance, or impacting key assumptions, in a transparent and timely manner.
• Preparation of regular, comprehensive performance reports (including Business Review documents and monthly Executive Summary Reports) to the Regional Office on timely basis

4. Analysis of Business Proposals/investments.

• Financial evaluation of business proposals or projects for the assigned TAs. (e.g., Field Force expansion, launching of a new product or indication).
• Financial evaluation of Marketing investments and allocation of funds among potential projects to maximize return for the assigned TAs.  Use of appropriate analytical tools as necessary.
• Ad hoc analyses as may be necessary.

5. Strategic Planning

Prepare for IMI portfolio by managing the sensitivity of the external relationships including government and distributors where the market has a number of healthcare, and funding systems and the pricing for these new models will have a significant positive/negative implication on the Gulf (GCC) countries.

6. Management Cash Flow

• Lead the Budget, Latest Estimation and Latest Outlook processes and discussions
• Achieving the MCF%
• Explain MCF variances, opportunities, and challenges through budget and financial forecasts for use in Global and Regional.
• Application of general Balance Sheet and Cash Flow knowledge in support of the business

7. Other

• Identify and utilize best practices in FP&A and disseminate them within the Organization.
• Ensure the IMI is compliant with internal control standards, reporting requirements, accounting guidance, and be observant for any potential CoC issues
• Assist with audits where required, and where follow-up is needed ensure compliance with / implementation of the agreed-to action plans.
• Assist with development / implementation of planning and analysis tools and/or systems
• Perform assigned NFCM controls with high quality and on a timely manner
• Ensure Saudi talent development and succession planning to meet the Saudization milestones; coach, guide and mentor FP&A associate within the country, including upscaling capabilities.
• Lead successful and efficient interaction with Distributors and Customers.
• Collaborate with Internal Audit and FCCR team to ensure consistent financial data reporting processes and results.
• Lead the Monthly Local and Regional Business Review.
• In the absent of the FRA team in the country, FP&A Lead plays major roll to ensure all the monthly reporting are meeting local expectations.
• Support FRA team in the monthly cross charge for Novartis AG (NCC changes).
• Support the FRA team in the monthly closing.
• Accompaniment throughout the institutional tender process. Ensures quick turnaround of ad-hoc analysis, providing accurate information / analysis required for timely decision-making.
•  Proactively carry out value added analyses on financial data, supporting and testing information provided by Global, Regional and Local financial officers. Assist with the development of detailed budget and financial forecasts for use in Global and Regional, as well as Country, Business Franchise, and Business Unit planning.
• Proactively interface with financial officers in other Country organizations to obtain financial best practices and in market data results, benchmarking country results and methods against ones from other markets.
• Drive continuous learning within the Country by performing post implementation financial analyses on past initiatives and sharing results across the organization Ensure consistency and interoperability between different financial reporting systems.
• Support CCFO to coordinate with cooperate tax department to resolve all tax related issues and assist to resolve all financial queries and statement analysis.
• Providing leadership, direction and management of the finance and accounting team
• Providing strategic recommendations to the CPO leadership members
• Establishing and developing relations with senior management and external partners and stakeholders.
   

Ideal Background

• Degree educated in Business Administration, Financial management, Accountant, Industrial Engineer or Life Sciences. Desirable degrees: MBA, Chartered/Certified Accountant.

• Fluency in English is prerequisite, while knowledge of Arabic and would be an advantage.

• Significant (7-10 years) experience in budgeting and/or controlling positions or within pharmaceuticals industry.
• Experience designing and operating financial reporting and forecasting systems
• Excellent analytical ability.
• Strong written and oral communication skills, and ability to clearly present financial data in reports distributed to Regional and Global officers.