R2R Senior Manager - Inventory

Role: Finance Manager

Location: Kharadi, Pune

Life Unlimited. At Smith+Nephew, we design and manufacture technology that takes the limits off living.

The E&O PRISM Finance Manager is a core role within Smith & Nephew’s Inventory Control organisation and the global process owner for Excess & Obsolescence (E&O) and Lifecycle Management (LCM) reserves — a material balance sheet area covering approximately 60,000 SKUs across a multi-year phase-out horizon, and one of the most complex and high-scrutiny areas of the Orthopedics International finance function.

This is a thought leadership role as much as a technical one. The role will own the methodology, the models, and the governance of E&O — and be expected to continuously evolve all three. The role will ensure the appropriateness of LCM reserve expenditure, maintain the integrity of the Group Reserve reconciliation, lead a global network of E&O Champions, and partner with the analytics team to build out Power BI-based transparency reporting of E&O actuals. Role will manage a small team of analyst and be the primary interface to regional controllers, auditors, and senior finance leadership on all E&O and LCM reserve matters.

The right candidate will bring structure to a complex space, raise the bar on process discipline, and have the credibility to engage at CFO level on reserve movements and methodology.

What will you be doing?

Methodology & Model Ownership (25%)

• Own the E&O and LCM reserve methodology end-to-end — ensuring it is technically sound, consistently applied, and evolves with the business
• Maintain and continuously improve the Excel-based reserve calculation models; drive the transition toward system-based calculation in Tagetik / SPAR (Spare Parts and Reserve system)
• Ensure models are robust, version-controlled, auditable, and documented to a standard that withstands Big 4 scrutiny
• Challenge and improve the logic underpinning reserve calculations where assumptions have drifted, data quality has weakened, or business conditions have changed

LCM Reserve Spend Governance (10%)

• Review and approve LCM reserve drawdowns, ensuring spend is appropriate, well-evidenced, and consistent with the approved methodology
• Serve as the finance control point for LCM spend decisions — escalating exceptions and challenging unsupported drawdown requests
• Maintain a clear audit trail of spend decisions and the commercial rationale behind them

Group Reserve Reconciliation (10%)

• Own the quarterly reconciliation of the Group E&O Reserve, ensuring movements are fully explained, accurately reported, and consistent across entities
• Prepare and present the reserve reconciliation to senior finance stakeholders, including Regional Controllers and Divisional CFO level where required
• Identify and resolve discrepancies between entity-level reserves and group consolidation, working with Global Business Services (GBS) and Controllership teams

Global E&O Champions Network (15%)

• Build, maintain, and energies a global network of E&O Champions across regions and markets
• Run a regular cadence of engagement with Champions — sharing methodology updates, driving consistency, and creating a community of practice
• Use the Champions network as both a quality control mechanism and a channel for continuous improvement ideas from the ground up
• Ensure Champions have the tools, training, and documentation to operate effectively within the COE framework

PowerBI & Analytics Partnership (10%)

• Partner with the analytics team to evolve the Power BI-based E&O actuals transparency reporting, ensuring it reflects the underlying reserve movements accurately
• Define business requirements for new reporting views, key performance indicators (KPIs), and drill-down capability; review and validate outputs before deployment
• Drive adoption of Power BI reporting as the primary lens for E&O performance across regions, reducing ad-hoc Excel-based reporting

Audit & Controls (10%)

• Serve as the primary interface for internal and external audit queries on E&O and LCM reserves
• Ensure the control environment around reserve processes is robust, documented, and Sarbanes-Oxley (SOX) compliant
• Pre-empt audit queries through proactive workpaper preparation; manage audit - cycles with minimal disruption to business-as-usual operations

People & Stakeholder Leadership (20%)

• Manage and develop the P3 COE Analyst, setting clear expectations and building technical capability within the team
• Act as the Centre of Excellence’s (COE) subject-matter expert on E&O reserves in senior finance forums, including Monthly Operating Reviews (MOR), Monthly Finance - Reviews (MFR), and transformation discussions
• Engage credibly with Regional Controllers, Divisional CFO, and Business Finance partners on reserve movements, methodology changes, and risk

What will you need to be successful?

Education:

• Degree in Finance, Accounting, Economics, or related field (required)
• Professional qualification required: CA / ACCA / CIMA
• Big 4 training background is a strong differentiator and will be weighted accordingly in selection

Technical Skills:

• Advanced Excel — complex modelling, Power Query / Power Pivot, large dataset handling, version control and audit-ready documentation
• Deep understanding of inventory accounting, reserve methodology, and balance sheet governance
• Data fluency: SQL or SQL-like querying, enterprise data platforms (Unified Data Platform / UDP, Snowflake), and experience working with data at scale
• PowerBI or equivalent analytics/visualisation tool experience; able to define requirements and validate outputs
• Working knowledge of SOX controls and financial control frameworks

Experience :

• 6–10 years’ post-qualification finance experience, with significant exposure to Controllership, COE, or technical accounting roles
• Big 4 professional services background strongly preferred — the combination of technical rigour, audit credibility, and structured problem-solving developed in that environment is directly applicable here
• Proven track record of owning and evolving complex financial processes — not just maintaining them
• Experience managing or leading a team, with an ability to develop others
• Track record of senior stakeholder engagement — comfortable presenting reserve positions and methodology to CFO-level audiences
• Experience working across geographies in a matrix organisation; culturally effective in a global role

Competences: Thought Leadership, Technical Ownership, Credible Communication, Network Leadership, Continuous Improvement, Control Mindset.

You Unlimited.

We believe in crafting the greatest good for society. Our strongest investments are in our people and the patients we serve.

Inclusion + Belonging: - Committed to Welcoming, Celebrating, and Thriving. Learn more about our Employee Inclusion Groups on our website (https://www.smith-nephew.com/).

Other reasons why you will love it here!

• Your Future: Major medical coverage + policy exclusions and insurance non-medical limit. Educational Assistance.

• Work/Life Balance: Flexible Personal/Vacation Time Off, Privilege Leave, Floater Leave.

• Your Wellbeing: Parents’/Parents-in-Law’s Insurance (Employer Contribution of 8,000/- annually), Employee Assistance Program, Parental Leave.

• Flexibility: Hybrid Work Model (For most professional roles)

• Training: Hands-On, Team-Customized, Mentorship

• Extra Perks: Free Cab Transport Facility for all employees; One-Time Meal provided to all employees as per shift. Night shift allowances.