Blackmores (www.blackmores.com.au) is Australia’s No.1 vitamin and dietary supplements brand with a legacy of over 90 years and is a publicly listed company employing 1250 people in 13 markets across Asia-Pacific. Headquartered in Australia, Blackmores has its international headquarter in Singapore, a health Innovation Centre in Shanghai, and a state-of-the-art manufacturing facility in Australia.
As a purpose-led, performance-driven organisation, Blackmores Group strives to create remarkable employee experiences through supporting a diverse and inclusive culture, creating leadership that inspires high performance, and providing everyone with opportunities to achieve their professional, personal and wellbeing goals supported by our flexible work practices and family friendly policies.
Purpose of role:
To drive value creation and deliver financial performance across Blackmores in Asia. To oversee all aspects of financial and administration reporting, governance and controls, ensuring a stable platform of financial and administrative capabilities, systems and processes to support Blackmores’ business objective in Asia.
Responsibilities include:
Financial vision and Strategy
· Understand and commit to Blackmores vision and values, ensure team members have the same understanding
· Assist in developing and implementing strategies and objectives which deliver the vision and the short and long-term business and profit objectives
· Monitor progress against objectives – reviewing activity, identifying and pursuing opportunities, removing blockages
Team leadership and contribution
· Demonstrate strong leadership and promote the values, image and role of Blackmores to all team members
· Review performance of direct reports; guide and motivate to achieve or exceed objectives
· Establish lines of control and ensure clear job responsibilities
· Pro-active and complementary working relationship with Asia Country Managers and Blackmores Sydney teams
Capital and Profit Management
· Ensure capital is used effectively and efficiently and working capital is kept to a minimum, and inventory levels understood and optimised
· Ensure that debt levels are maintained at acceptable levels and Asia businesses cash flow needs are anticipated and met
· Provide advice, training and information to Asia Business Units (internal customers) and their management team that will empower them to enhance the profitability of products, customers and processes.
· Protect wealth with internal controls and procedures appropriate to the safeguarding of assets.
Management of the Inventory Control and Transfer Pricing Function
· In conjunction with the Group Taxation function, implement transfer pricing policies in the Asia Hub buy-sell price and costing. And handle jointly with Group Taxation for transfer pricing queries and advices from respective markets or regulatory bodies.
· Oversee markets’ inventory controls and slow movement inventory management.
· Ensuring comprehensive distributor/logistics inventory reporting and reconciliation to Blackmores ERP system.
Reporting and Control
· Develop and implement accounting policies appropriate for the organisation and compliant with local and international rules and standards
· Preparation of half year and annual accounts for Asia businesses in accordance with all relevant accounting standards
· Conduct variance analysis on actual movements to budget and forecast. Support Asia Business Units in understanding and explaining their variances.
· Manage the ‘Procure to Pay Process’ and the ‘Invoice to Collect Process’ for Singapore legal entity.
· Oversee proper monthly Balance Sheet schedules are prepared and reviewed by respective market finance team.
Direct & Indirect Tax
· In conjunction with Group Tax function, ensure that each company in Asia complies with a relevant local legislation such as Company and Tax laws.
· Ensure adequate records and audit trails exist to support lodged returns. That they be understandable by other parties in the event of an audit by taxation authorities.
· Liaise with tax advisors and planners.
· Ensure appropriate and fully reconciled tax effect accounting entries are maintained in the general ledger.
Management Accounting and Reporting
· Provide financial management advice to respective Country Managers regarding ongoing performance and new product development P&L
· Support New Business Development Managers on new business unit setups
· Create KPI reporting to track business performance.
· Oversight of Monthly Business Performance Review (BPR) pack for CEO review.
Budgeting and Review of Monthly Group Financials
· Communication of budget framework to the rest of the Asia business.
· Assembly and review of finalised budget in conjunction with the Finance Director.
· Review of monthly Asia results as prepared by Financial Accountants (Markets’ Head of Finance).
· Develop cashflow forecasting capability.
· Oversee capital expenditure budget and reporting.
· Oversee the consolidation of the financial results of Blackmores’ Asia operations.
· Maintain a strong relationship with Blackmores International Accountants and Business Managers and be a point of guidance for them.
· Liaise with International auditors and tax agents and assist in the compliance of these operations to local law.
· Ensure audited financial statements are completed annually for all Asia entities.
Who are you?
· Tertiary educational qualifications- business degree and chartered accounting qualifications from a recognised professional accounting body.
· Min.8 years of experience in a similar regional finance role working for and international company or organisation operating across multiple markets in Asia.
· Comes with commercial acumen and business partnering skills to drive financial performance across a range of markets of differing scale, including mature/ established, high growth and newly stashed
· Well-versed in financial, statutory accounting, taxation, treasury and risks, controls and compliance management to ensure accurate and sound fiscal control and strong governance across remote markets.
· Drive process and costs productivity and efficiencies
· Independent and self-starter
· Fluency in written and spoken English
· Willingness to adapt to changes in technologies, regulations, and industry trends is essential;
· Ability to collaborate with cross-functional teams and stakeholders to gather inputs for financial planning and analysis processes;
· Ability to work independently in a dynamic and fast paced environment.
