Bristol Myers Squibb Director Business Controls Function GPS, R&D and Medical in Princeton, New Jersey
This Director – Global Product Development & Supply (GPS), Research & Development (R&D), and Medical, represents the Business Controls Function (BCF) as the strategic leader, managing financial, operational and fraud risk for these global functions. The GPS organization develops molecules discovered by R&D, manufacturing them into life-changing medicines, managing the entire product life cycle. The position reports directly to the Executive Director – Business Controls Function, and serves as a member of the BCF leadership team. This BCF leader directly supervises an Associate Director - GPS, and Business Process Champion for Long-Lived Assets, and manages an Associate Director in R&D and local manufacturing plant BCF resources on a dotted-line basis. The individual will interact closely with Bristol-Myers Squibb’s (BMS) senior leadership and operational management in GPS, R&D and Medical, collaborating to mitigate risk in these critical functions, and driving a proactive, controls-centric culture that helps ensure BMS continues to innovate and promptly meet patients’ needs.
Duties & Responsibilities
Provide framework and governance including work instruction maintenance, training, day-to-day responses to inquiries and support of direct reports and local plant BCF responsible for controls in the manufacturing plants.
Provide interpretations of corporate policies and procedures to director reports, plant BCF and business process owners (BPOs).
Serve as formal Subject Matter Expert (SME) in inventory and long-lived assets and periodically provides related training in these areas, including inventory and fixed asset accounting, R&D portfolio accounting, acquisition accounting and controls, contract management and approval authority, lease accounting under ASC 842, and the BMS Fixed Asset Simplification & Transformation methodology.
Provide on boarding and refresher training in GPS and R&D risk areas for new BCF associates
Participate in all BCF hiring decisions in the GPS, R&D and Medical organizations to help ensure that knowledgeable and experienced BCF execute all tasks described in the BCF service level agreement. Serves as a mentor, coach and resource for career development to these individuals.
Regular engagement with management in key business processes and functions to proactively identify and mitigate financial, operational and fraud risk.
Financial, Operational & Fraud Risk Assessment
Execute semi-annual risk assessment, with updates throughout the year by leading quarterly meetings to discuss top-of-mind risks and process improvement opportunities with key stakeholders (leadership and line management in GPS, R&D and Medical organizations, other senior BCF Leadership, Finance Directors, direct reports, BPOs, etc.).
Contribute to risk assessment content development, including risk scenarios and potential mitigating controls. Collaborate and proactively problem-solve with Global Finance leads and GPS, R&D and Medical leadership to address critical operational changes and the impact on internal controls.
Evaluate adequacy and effectiveness of proposed risk mitigation program and control enhancements suggested by BPOs and the BCF organization. Serve as a consultant prior to implementing any recommended changes to globally designed controls, processes or procedures in the GPS and R&D functions.
Monitor higher risk areas identified in R&D and GPS risk assessments and review if mitigation actions are in place and promptly executed.
Analyze Tableau dash boarding for risk trends in the GPS and R&D functions. Contribute to design for any visualization requests originating from GPS and R&D management.
Sarbanes-Oxley (SOX) & Quarterly Sub-Certification Activities
Evaluate all R&D, GPS and Medical out-of-period financial statement adjustments, control failures and Global Internal Audit & Assurance (GIA) observations for potential SOX deficiency reporting.
Work with the BCF leadership team to make determinations as to the pervasiveness and financial magnitude of control deficiencies, and to design effective and efficient remediation plans.
Work with senior leadership in R&D, GPS and Medical to identify and evaluate the Company’s most significant changes in the internal control environment. This task includes evaluating changes to systems, processes and personnel that have an impact on BMS financial, operational, and fraud risk.
Follow-up on all financial control deficiency and fraud risk remediation measures, whether arising from Sarbanes-Oxley testing, the quarterly close process, internal audit observations, the BCF risk assessment, anti-bribery corruption and fraud monitoring, etc. Report quarterly and more frequently as necessary, to senior BCF and operational leadership on the status thereof through formal, quarterly meetings.
Participate in annual walk-throughs with BPOs and external auditor.
Evaluate the accuracy and completeness of the Company’s internal control standards in the GPS and R&D areas (annually and as required thereafter for significant changes).
Contribute to qualitative SOX scoping decisions to ensure consideration of GPS and R&D risks in attribute testing.
Anti-bribery, corruption and fraud monitoring activities
Review results of quarterly anti-bribery, corruption and fraud monitoring for the GPS and R&D organizations, including determining need to report to the Company’s Law & Compliance Department. Testing of disbursements and travel and entertainment expenses executed by staff.
Remaining abreast of developments both internally within BMS and externally in this area, and ensure that testing procedures are tailored accordingly, in cooperation with the BCF’s bribery, corruption and fraud SME.
Ensuring escalation of significant findings identified in quarterly monitoring to Law & Compliance and monitoring to ensure appropriate follow-up/remediation occurs. Ensures escalation of all non-compliance with Company policy and procedure as required even if originating from source other than monitoring activities.
Internal Audit Support
Assist and support as necessary local operations and Finance with internal and external audits (e.g., responding to inquiries, providing explanations regarding controls, policy/procedure, end-to-end process, reviewing and consulting on findings/observations)
Determine the appropriateness of any GIA-recommended remediation activities, in particular in response to a qualified or adverse internal audit report opinion, or in response to recommendations that suggest significant system or process change.
Follow-up to ensure that BPOs promptly remediate audit observations within the GPS, R&D and Medical functions.
Assists Finance management in drafting technical position and whitepapers (e.g., general accounting matters, lease accounting, etc.).
Provide ad hoc investigative support under the BCF’s fraud SME and Law/Compliance & Ethics supervision to the extent assistance is required and subject matter expertise in manufacturing, R&D, and medical are required (e.g., limited to gathering documentation and data, facilitating interviews, testing transactions and evaluating source documentation, providing an understanding of financial controls, developing control remediation plans, etc.).
Periodically participate in third party due diligence and monitoring engagements when requested by the business (e.g., contract manufacturing or research organizations).
Participate on special projects, including systems implementations and data analytics activities designed to enhance compliance, improve performance or increase efficiency within the GPS and R&D functions, and for other strategic BCF initiatives.
Deliver training on new policies and procedures affecting GPS and R&D, as required.
Bachelor’s degree in accounting and Certified Public Accountant (CPA) designation or equivalent required. MBA degree designation desirable.
Knowledge of the Sarbanes-Oxley Act and PCAOB standards required. Basic understanding of the Foreign Corruption Practices Act (FCPA), other similar anti-bribery and corruption regulations, including the key compliance risks facing global pharmaceutical manufacturers is desirable.
15 to 20 years of experience in accounting, audit, and/or similar functions required. Big 4 public accounting / consulting or similar experience is desirable.
Experience with operational audits/assessments, internal controls and/or Sarbanes-Oxley compliance.
Experience in manufacturing accounting (preferably in Pharmaceutical/Biotech industry); experience in both manufacturing plant and headquarters operations preferred.
Exposure to manufacturing and production planning with a strong emphasis on inventory and long-lived asset accounting.
Experience in R&D Portfolio accounting preferred.
Accomplished in developing and conducting comprehensive risk assessments, including financial, operational and fraud considerations.
Understanding of accounting and audit principles, and financial statement disclosures.
Understanding of US GAAP and internal controls; In-depth knowledge of accounting principles and leading industry practices.
Experience in financial analysis and data analytics desirable.
Fluency in English. Other languages desirable.
Previous Finance department experience a plus (e.g., financial analysis, close responsibilities, financial system implementations, etc.).
Key to the Director’s success are experience in manufacturing operations, inventory accounting, R&D portfolio accounting, the ability to collaborate with and influence Senior Management, and the ability to gain the confidence and cooperation of Plant Managers and Finance Directors to ensure appropriate input and dialogue on potential risks.
Strong written and verbal communication skills to facilitate relationships with peers and senior management.
Strong, proven leader and influence, possessing executive presence and ability to serve as a change agent.
Ability to establish formal relationships across functions to drive performance and improve processes.
Capable of working with, developing and leading technically and culturally diverse global teams, including past experience managing and leading teams in a matrix organization.
Demonstrates a team-oriented approach with experience doing so in a leadership capacity.
Successfully manages multiple projects and competing priorities.
Manages processes with a high degree of autonomy, speed and accountability.
Demonstrates strong process efficiency, continuous improvement, standardization and automation skills.
Assesses and resolves problems, including through use of data analytics.
Has comfort presenting efficiently and effectively in difficult situations, while displaying tact, diplomacy and appreciation of the importance of confidentiality regarding certain matters.
Strong understanding of internal controls and continuous monitoring processes.
Works well in an ever-evolving environment of complexity and uncertainty.
Ability to execute solutions in a confident and successful manner.
Working for an organization continually striving to develop transformational solutions for patients.
Opportunity to gain and apply understanding of the key business risks facing pharmaceutical manufacturers and their R&D and Manufacturing businesses including operational, financial and fraud/compliance risks.
Opportunity to join and help lead a professional and high performing team that is continually evolving and reacting to the key, top-of-mind risks facing senior management.
Develop/enhance the ability to impact and influence within the Company to deliver superior business results and protect shareholders.
Contribute to the long-term strategy and growth of the BCF organization.
International and Domestic Travel required approximately 10%.
Bristol-Myers Squibb is an equal opportunity employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.