Finance Manager, Bangladesh

Eurofins is seeking a Finance Manager in Dhaka, Bangladesh, to lead the finance organization, overseeing functions such as accounting, purchasing, payroll, and risk management. The role focuses on improving efficiency and compliance while standardizing processes. The Finance Manager will report to the local Managing Director and collaborate with the Senior Finance Director for the Asia-Pacific region. This position is not remote and requires on-site presence.
Company Description

Eurofins is Testing for Life. The Eurofins network of companies believes that it is the global leader in food, environment, pharmaceutical and cosmetic product testing and in discovery pharmacology, forensics, advanced material sciences and agroscience contract research services. It is also one of the market leaders in certain testing and laboratory services for genomics, and in the support of clinical studies, as well as in biopharma contract development and manufacturing. It also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.

With over 62,000 staff across a decentralised and entrepreneurial network of ca. 900 laboratories in 61 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products.

Eurofins companies’ broad range of services are important for the health and safety of people and our planet. The ongoing investment to become fully digital and maintain the best network of state-of-the-art laboratories and equipment supports our objective to provide our customers with high-quality services, innovative solutions and accurate results in the best possible turnaround time (TAT). Eurofins companies are well positioned to support clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the evolving requirements of healthcare practitioners around the world.

Eurofins has grown very strongly since its inception and its strategy is to continue expanding its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions.

Shares in Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0014000MR3, Reuters EUFI.PA, Bloomberg ERF FP).

Job Description

The Finance Manager Bangladesh will be leading the Finance organization in Bangladesh, which includes the following functions: Accounting & Reporting, Purchasing, Finance IT, Payroll, Tax, Treasury and Insurance & Risk Management.

The goal is to ensure an effective level of support services in the country, aiming to increasing efficiency, while ensuring the right level of compliance and control. Standardization of processes and systems are a key success factor. If the business within country grows in further, a National Service Centre (NSC) will later be created.

The Finance Manager reports directly to the local Managing Director (MD) from the largest Business Line, in dotted line to the Senior Finance Director (SFD) Asia-Pacific and Middle-East, with local support from NSC India (temporary).

MAIN RESPONSIBILITIES
• Day-to-day leadership and performance management of the finance teams, processes and activities (reliable, effective, efficient), including the implementation of a performant organization and the development of strong teams:
• Organization and Management
• Organize and manage the different finance functions (Accounting & Controlling; Treasury, Tax & Legal; Credit & Collections; Purchasing; Payroll and Finance IT). Team of 2 FTE.
• Define and manage overall performance by target setting & monitoring, including the definition of corrective actions when & where needed.
• Establish and maintain a high performing team, recruiting young talents and growing and evolving strong team members, in line with agreed targets and budget. Ensuring succession planning for key positions is in place.
• Accounting & Reporting
• Manage accounting & month-end closing processes, ensuring reliable & timely closing and reporting of all Eurofins entities in the country to local and Group management.
• Manage the relationship with Auditing and Accounting firms during interim and annual reviews.
• Ensure proper controls are put in place, supervise the application of the group manual of procedures.
• Treasury, Tax, Legal & Risk Management
• Active management of Net Cash and Cash Flow. Manage the relationship with local banks. Oversee the payments process and manage banking access rights.
• Ensure compliance with tax laws and regulations (CIT incl. TP., VAT, payroll tax, WHT). Includes tax planning, filing returns and tax reporting. Acting as the main point of contact to local tax authorities.
• Monitor and improve the national insurance policies, identify areas of over- and underinsurance.
• Provide legal advice to business managers on contractual matters & litigations (commercial, social & labour laws).
• Contract management and archiving (Corporate Data Room).
• Manage and optimize working capital by overseeing AR, AP, and cash flow planning.
• Purchasing/ Procurement
• Develop and implement sourcing strategies in close collaboration with Group Purchasing, in order to obtain significant cost savings and manage Total Cost of Ownership, while ensuring quality and service levels.
• Manage and optimize the procurement processes, systems and tools, in order to ensure effective and efficient procurement of goods and services.
• Ensure group wide reporting on purchase and the exact calculation of savings obtained (purchase database).
• Payroll administration
• Manage the payroll administration, in order to ensure employees are properly administered and paid.
• Staying abreast with (changes to) social & labour laws and regulations, in order to ensure compliance.
• Finance IT
• Define and manage together with Finance IT and the local team and in close cooperation with the Group Finance IT Service Centre all relevant IT projects in Finance, Payroll and Purchasing (e.g. migration to new software versions, integration of new companies, etc).
• Define, implement, and ensure application of optimized and harmonized processes in line with the Group standard in the area of Finance and Purchasing.
• Ensure appropriate, timely information/ communication about content and progress of any Group-wide project impacting IT systems for all project members as well as with the National Service Centre and Operating Business Units.
• Business Controlling
• Monthly review of results & performance management against agreed targets and budget projections. Preparation of regular reports of costs per cost centre, business units (and more granular level) and products, required to drive business performance.
• Support on the yearly Budget preparation process. Deliver forecast of the year-end figures in case of significant deviations and/or if required by Group Management. Preparation of ad hoc reports that may be needed by Business.
• Prepare cashflow forecasts, and funding requests in case they are needed, ensuring a timely identification of a financing need, and the funding in due time in order not to affect operations.
• Support on improving Net Working Capital. Involved on the budget preparation for NWC, and proposing and follow-up actions plans which ensure that we adjust for the current activity level and achieve the agreed targets.
• Support Sales Managers in defining and implementing sales rules (financial conditions, discount, terms of payment, general terms of sales) or when writing particular contracts that require specific financing.
• Support on other activities related to Business Controlling, as per business needs, and mutual agreements.
• * Credit & Collections
• Coordinate the credit collections activities, which are performed by collection agents located in the different Business Units.
• Manage credit collection, litigations, and bad debt recovery.
• Driving the implementation of standard processes and systems, in close collaboration and alignment with the Business and Group Finance function:
• Active contribution and validation of the design of standard Group-wide Finance & Purchasing processes, as proposed by Group Finance.
• Drive the implementation of these standard processes, KPI’s and controls across the different businesses and functions.
• In strong relation with the acquiring Business Line leader, leading the Post Merger Integration activities related to activities in the scope the NSC.
• Partnering with divisional business leaders and supporting decision making processes, while ensuring financial discipline across the different business lines.

Qualifications

QUALIFICATIONS

Education:
• Master Degree in Finance / Accounting or equivalent.
• Advanced certification in accounting: chartered accountant (CPA or local equivalent), ACCA, other similar relevant, is preferred.<br>
Professional experience:
• 8-10 years of experience, of which at least 2-3 years in a similar position.
• Experience with implementation of financial processes and systems and associated project management.
• Experience with local accounting systems and advanced proficiency in Microsoft Excel.
• Background in financial audit is preferred.
• Experience with post-merger integration projects is a plus.
• Experience in managing a small accounting department independently or leading a small team in an outsourcing accounting firm.

Personal skills
• Results oriented.
• High level of energy, drive and passion to succeed.
• Change agent, „can do“ mindset constantly challenging „status quo“.
• Structured with strong organisational skills.
• Accurate, diligent and highly reliable.
• Pragmatic, proactive, flexible and adaptable.
• High degree of autonomy, self-starter.
• Good communication skills.
• People Manager and motivator.

Technical Skills:
• Strong analytical skills, able to quickly comprehend complicated structures and processes.
• Excellent technical financial skills including: accounting, reporting, audit, internal control, tax and net working capital management. Knowledge of IFRS and local GAAP.
• Ability to go into the right level of details when needed but as well to maintain a ‘helicopter view’.
• Strategic ability: able to establish a vision and goals for the team, to create a plan to achieve these goals and to manage implementation.
• Stakeholder management: able to understand the complexity and dynamics of a large group with multiple internal stakeholders and to successfully operate within this environment.

Language skills
• Local language (fluent written and spoken).
• English (fluent written and spoken).

Location:
• Bangladesh, Dhaka.

Additional Information

We support your development! Do you feel you don’t match 100% of the requirements? Don’t hesitate to apply anyway! Eurofins companies are committed to supporting your career development.

We embrace diversity! Eurofins network of companies believe in strength and innovation through diversity, being an Equal Opportunity Employer. We prohibit discrimination against employees or applications based on gender identity and/or expression, race, nationality, age, religion, sexual orientation, disability, and everything else that makes employees of Eurofins companies unique.

Sustainability matters to us! We are well on our way to achieving our objective of carbon neutrality by 2025, through a combination of emission reduction and compensation initiatives. We encourage our laboratory leaders to make sustainable changes at their local level, and in addition to their initiatives we also count on our dedicated carbon reduction team to help us to achieve this goal!

Find out more in our career page: https://careers.eurofins.com/

Company description: Eurofins Scientific is an international life sciences company, providing a unique range of analytical testing services to clients across multiple industries, to make life and our environment safer, healthier and more sustainable. From the food you eat, to the water you drink, to the medicines you rely on, Eurofins laboratories work with the biggest companies in the world to ensure the products they supply are safe, their ingredients are authentic and labelling is accurate.

The Eurofins network of companies is the global leader in food, environment, pharmaceutical and cosmetic product testing and in discovery pharmacology, forensics, advanced material sciences and agroscience contract research services. It is one of the market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, advanced material sciences and in the support of clinical studies, as well as having an emerging global presence in Contract Development and Manufacturing Organisations. It also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.

In over 35 years, Eurofins has grown from one laboratory in Nantes, France to 61,000 staff across a decentralised and entrepreneurial network of ca. 900 laboratories in 61 countries. Eurofins companies offer a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of biological substances and products.

In 2022, Eurofins generated total revenues of EUR 6.7 billion, and has been among the best performing stocks in Europe over the past 20 years.