Commercial Finance Manager (Costing)
Aspen Pharma Group
2023-07-21 JHB North
Job Ref #: CFM21072023
Industry: Pharmaceutical And Medical/Healthcare
Job Type: Permanent
Positions Available: 1
Applicants are invited for the above-indicated vacancy that exists in the Commercial Finance Division. The incumbent will report into the Senior Commercial Finance Manager.
Job Description
Company Description: We are a global specialty and branded pharmaceutical company, improving the health of patients across the world through our high-quality and affordable medicines. Active at every stage of the value chain, we are uniquely diversi?ed by geography, product and manufacturing capability.
Aspen is a dynamic organisation built on entrepreneurial strength and forward-thinking minds. We attract high performing individuals who are passionate about their career and have a desire to exceed expectations. At aspen, not only do we source for the best talent but we also provide a host of opportunities for continuous development.
The Group’s key business segments are Manufacturing and Commercial Pharmaceuticals comprising Regional Brands and Sterile Focus Brands. We have approximately 9 100 employees at 69 established offices in over 50 countries and we improve the health of patients in more than 150 countries through our high quality, affordable medicines.
OBJECTIVE: Manage the end-to-end costing and supplier management related to outsourced supply of products to the SA Commercial business. This includes providing costing input into budgets, forecasts, tenders and commercial evaluations; managing our relationship with suppliers and negotiating the most favourable pricing, enforcing terms and analysing and reporting on all elements of standard cost and supplier variances while also assisting Demand Planning to ensure OTIF supply.
MAIN DUTIES:
Commercial evaluations:
Calculating cost of goods accurately and timeously for input into tenders, budgets and other decision-making scenarios Manage the determination, approval and implementation of initiatives to improve profitability with a focus on landed cost of goods Constantly seek ways to optimise margin
Supplier and Cost of Goods Management:
Negotiate or provide input into negotiations with suppliers for favourable landed COGS and improved profitability Build and maintain excellent working relationships with suppliers Manage contract adherence Oversee item masters to ensure relevant master data is accurately maintained Manage COGS roll-ups and related data in SAP in line with Aspen’s policies and procedures including seeking group approval before rolling up new COGS Track and provide insightful reporting on standard cost variances and recommend and drive improvement initiatives to reduce cost of goods, freight and related overheads Receive and approve supplier invoices Approve supplier payments Enforce adherence to contracts and payment terms Review and approve supplier account reconciliations Audit support (internal and external) Manage OOS reporting to drive reduced monthly OOS working closely with suppliers and demand team
Transfer prices:
Manage annual transfer pricing negotiations with AGI Ensure compliance with Group Tax guidelines for transfer prices
Budgeting & Forecasting:
Annual budgeting and setting standards valid for the following financial year Quarterly variance forecasting Analysis and reporting on profitability and the impact of COGS changes, individually and in aggregate Audit support for standard costs and associated material, forex, freight and customs variances Presenting COG impact to senior stakeholders Other relevant commercial finance tasks related to Budgets, Forecasts and Five Year plans as assigned
Projects and Business Partnering
Serve as a competent back-up for Pricing Analyst Ad Hoc tasks to be performed in line with applicable policies and levels of authority:
-Review and critically analyse the impact of negotiated COGS on outsourced New Product Launch P&Ls
-Supporting the Business Heads and their teams in preparing for quarterly brand and performance reviews by providing templates, information, and meaningful analysis.
-Provide day to day financial support and training to the business
-Address ad-hoc queries (including Internal and External Audit requirements)
-Perform ROI analysis
-Projects as assigned
-Perform designated approval function in line with approvals framework
-Identifying and documenting risks and opportunities
-Third party reporting in line with contractual requirements
-Process flow improvements
-Ensuring adherence to IFRS
-Ensuring adequate financial controls are designed and implemented for the respective business units
-Ensuring that reports are balanced between systems and supporting documents
-Review, approve and update relevant SOPs
Product Costing & Analysis
Standard Costing: Manage, calculate and report on standard costs and variances in line with IAS2 and Group and Company Policies and Procedures including the calculation of:
-Material costs (including forex impact)
-Freight
-Customs
-Overhead allocation
Month-end close & Reporting
Analysis, Reporting and Management of sales, opex, accruals and provisions, journal preparation and posting and variances to plans. Manage, Analyse, and Report on the following:
- PPV variances resulting from differences of actual COGS and Standard COGS vs Prior Years, Budgets and Forecast
- Accruals and Provisions including applicable balance sheet reconciliation and management
- Journal preparation and postin
Manage complete, accurate, Group-approved COGS roll-ups:
-Monthly roll-ups as required and approved
-Annual standard cost roll-ups
Job Requirements
QUALIFICATION AND EXPERIENCE:
Grade 12 / Matric CA(SA) or ACMA CGMA (CIMA) preferred At least 3 to 5 years of working experience in a finance environment (audit or otherwise) Prior experience in the interpretation and use of accounting standards and the Companies Act Pharmaceutical/FMCG industry and Commercial Finance and Commercial Law experience preferred Manufacturing/Cost accounting experience advantageous
Technical Competencies / Skills:
Skills and Attributes:
Effective planning, organising and co-ordinating skills to prioritise tasks, manage projects and deliver high-quality work under pressure Highly numerate Excellent analytical skills and attention to detail Logical reasoning Results driven Problem-solving and decision making Commercial and strategic awareness Independent and self-directed individual who can drive execution Effective interpersonal skills and able to influence people and decisions Clear written and verbal communication Not afraid to question status quo Ability to challenge and collaborate effectively with outside stakeholders Commercial law interpretation
Knowledge:
Product Costing; Management Accounting & Analysis Financial Accounting (IFRS) Companies Act MS Office Advanced Excel (Financial Modelling preferred) Master Data principles Scenario analysis ERP System (SAP advantageous) Accounts payable Commercial Law
