Sr. Manager Statutory & Accounting Lead

AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas – immunology, oncology, neuroscience, and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on X, Facebook, Instagram, YouTube, LinkedIn and Tik Tok.

Job Description

The position is part of Financial Shared Services Record to Report organization (FSS-RTR).  Finance Shared Services (FSS) is AbbVie's standardized global end-to-end back office processes that support operations and transactional business activities enabling our company to run. FSS-RTR works collaboratively across multiple delivery channels providing support in accounting and selected order to cash processes

This position reports into the Finance Director, RTR Ops, FSS JAPAC and is responsible to lead FSS India team for both US GAAP & Local Statutory Accountants, by being liaison with senior stakeholders including global FSS, global commercial senior management team, financial team and other corporate finance functions e.g. Accounting, Tax Center of Excellence (COE), Treasury, GTC, BPO etc. This position needs to drive key strategic initiatives

R2R Responsibilities

• Work closely with Commercial Finance, the Accounting COE, the BPO, and others to ensure compliance with company accounting and operational guidelines, as well as US and local statutory GAAP
• Research and resolve technical accounting issues, and review financial and accounting analysis involving complex transactions in a variety of areas
• Interpret and roll out accounting policy/standards, including application of US GAAP (e.g., revenue recognition, pension accounting, etc.)
• Support development and standardization of AbbVie Accounting policies and procedures
• Ensure ongoing compliance with AbbVie Accounting policy and procedures
• Monitor internal control compliance in affiliate
• Play a critical role in the preparation of US GAAP financial statements. Activities include, but are not limited to, compiling information for disclosures in accordance with U.S. SEC reporting requirements
• Manage, coordinate and review the monthly, quarterly and yearly financial close process
• Review key account reconciliations
• Perform reserve and impairment analyses (e.g. receivables, inventory, intangible assets, etc.) in accordance with corporate policy
• Review changes to chart of accounts
• Perform periodic balance sheet account reviews at a country level
• Initiate process improvements and quality reviews to simplify and improve productivity
• Assist as needed in the statutory reporting process
• Liaison with external auditors and actuaries
• Work closely with personnel in all departments to ensure compliance with company accounting and operational guidelines in accordance with local GAAP
• Work closely with the Finance Director/s of affiliate/s to ensure high quality of the ledgers and full compliance with Accounting Policies
• Propose and implement initiatives aimed to improve efficiency and quality of the process
• Transfer pricing (India is restricted entity hence different treatment & alignment required for TP exercise)
• Prepare Entity Planning for India two entities.
• Prepare DSO, BS and Capital planning for both business (Aesthetics and Therapeutics)
• Perform and lead the centralized Non promo planning process (for Aesthetics and Therapeutics) including Finance Transformation key initiatives in India and as JAPAC coordinator.

Statutory accounting responsibilities

• Preparation of statutory financial statements including notes to accounts
• Participate/ review US GAAP month close process with primary focus to identify adjustments necessary for local GAAP:
  • Regular reconciliation of US and local GAAP ledgers to ensure integrity of data
  • Perform local GAAP adjustments
  • Identify and perform adjustments needed for additional disclosures (T&E, Payroll benefits etc)
  • Maintain local GAAP balance sheet reconciliations
  • Conduct balance sheet reviews periodically
  • Prepare and distribute reports to key contacts
• Interpret and roll out local accounting policy/standards
• Prepare Standard Operating Procedures & Flow charts to ensure local GAAP requirements are documented and necessary processes are in place.
• Co-ordinate Statutory audits:

• Support Finance Director in execution of local statutory audits
• Plan and co-ordinate audit schedule with external auditors, service providers (if any) and internal departments
• Execute audit plan by ensuring timelines are met.
• Establish escalation protocol, monitor and report audit progress.
• Manage the Statutory calendar
• Support the process of local tax provision calculation and income tax return

• Perform miscellaneous reporting filings (e.g. statistical reporting)

• Identify and implement improvement opportunities in the area of direct responsibility (compliance, quality and process efficiency)
• Train current RTR resources with IGAAP Accounting & Complex India statutory requirements which would be additional works e.g. Financial note and schedules/disclosure, local GAAP JEs, IGAAP P&L, BS preparation(which were being handled by 3rd party accounting firm with their 4 FTEs)
• Study of changing India Regulations/Accounting standards & ensuring related Special accounting treatment (which were being handled by 3rd party accounting firm with their 4 FTEs)
• Perform IGAAP Account preparation coordinating directly with EY auditors (Feb to July) & Internal affiliate team
• Perform Internal financial controls including IPE requirements related to IGAAP financials ( more than 40  controls)

Tax responsibilities

• First point of communication for all direct and indirect tax matters
• Conduct Annual tax computation, Tax related schedules, Deferred Tax working as per local tax regulations (which were being handled by 3rd party accounting firm with their 4 FTEs)

• Work closely with third party service providers and Tax Centre of Excellence to plan and support tax compliance activities
• Communicate compliance timetable and deliverables to all stake holders
• Ensure inputs required for tax return preparation are received, reviewed and submitted timely.
• Follow-up on any missing information, perform defined checks and reconciliations
• Track adjustments needed based on filed returns, perform journal entries to ensure ledger balances tie to returns
• Investigate issues encountered during return preparation, identify and fix process / system gaps
• Ad hoc assistance on VAT related matters (audits, questions tax authorities, tax coding questions, ad hoc checks and reconciliations)
• Oversee and track tax payments & receipts to avoid delays to avoid financial and reputational risk.
• Ensure accurate and consistent accounting of all taxes  
• Review and sign off all tax related balance sheet accounts reconciliations prepared by third party provider (BPO).
• Co-ordinate with Tax Centre of Excellence of any other tax accounting related activities.
• Identify and implement improvement opportunities in the area of direct responsibility (compliance, quality and process efficiency)
• Perform GST & Local taxation regulations need to ensure overall audit fully compliant

Skills, Knowledge and Qualifications

Systems

• SAP
• Hyperion
• Reconciliation Tool (desirable)
• MS Office
• BPC/IPS
• Blackline

Business Knowledge

• Chart of Accounts
• Sox Policy
• Intercompany Transaction Policy
• Treasury Policy and Banking Systems
• Business Process, Corporate Policy (compliance & completeness) 
• Financial Data Flows
• Understanding end to end process for P2P, R2R, and OTC.

Technical Knowledge

• Advanced Accounting
• Financial Statement Analysis (variance analysis)
• Cost/Inventory Accounting
• US GAAP and/ or IFRS

Qualifications

• Bachelor's degree in Finance or Accounting.  ACCA, CPA, CIMA or equivalent qualifications is a plus.
• 14-17 years of progressive experience in accounting, planning and financial analysis
• Experience with SAP required
• Managerial experience with solid leadership skill
• Strong analytical, problem solving and interpersonal skills
• Strong written and verbal skills enabling effective communication with all levels of management including external audit partner, GM, Finance corporate VPs
• Individual must be self-motivated with great follow-up skills and be able to work independently
• Excellent stakeholder management skills are required
• Ownership and strong drive in an independent tasks execution
• Experience in pharma industry would be an asset
• Strong organizational skills required to coordinate and manage multiple cross divisional work process and projects
• Experience with continuous improvement projects and practical application of CPI methodologies (Lean, Six Sigma) would be an asset
• Fluent English is a requirement, any other language would be an asset

AbbVie is an equal opportunity employer and is committed to operating with integrity, driving innovation, transforming lives and serving our community.  Equal Opportunity Employer/Veterans/Disabled. 

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