Grace Lee

Head Of Finance, Procurement and Risk at NTUC Health Co-operative Limited
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Contact Information
us****@****om
(386) 825-5501
Location
Singapore, SG
Languages
  • English -
  • Chinese -

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Experience

    • Singapore
    • Hospitals and Health Care
    • 300 - 400 Employee
    • Head Of Finance, Procurement and Risk
      • Jan 2020 - Present

      * Assumed Head of Division (HOD) role. * Partner heads of division in driving business profitability by engaging Ministry of Health (MOH) on price changes to ensure sustainable fee structures.* Successfully set up a new Company Limited by Guarantee (CLG) with Charity and Institution of Public Character (IPC) status. This entity will receive $100M in donations from December 2022 to support crucial programmes for the elderly.* Pioneered Robotic Process Automation (RPA) in the organisation and raised 14 RPA citizen developers within the team. Team automated 18 processes achieving on average more than 70% productivity savings per project.* After the departure of the Chief Digital Technology Officer (CDTO), tasked by CEO to rescue a $30M corporate-wide customer management system that was stalled for 3 years and finally went live in April 2022. In the process of the launch, established project management framework and cadence, brokered business process changes, lobbied for the project team to be adequately resourced to deliver on schedule. * Achieved 96% adoption by all business units clients for cashless payment of services through Electronic Direct Debit Authorization (eDDA) and other contactless payment platforms (debit/credit cards / EZlink / PayNow / FavePay / AliPay).* Rolled out Data Governance framework for the organisation that extends beyond personal data to protect organisation against consequences of leakage. Curated an integrated Risk and Incident Management system to ensure that all risks and incidents are monitored, assessed, reported and resolved in a timely and effective manner. * Achieved 3-year target by 2022 to reduce finance organisation cost as a percentage of revenue from 4% to 2.5%.* Centralised procurement functions across the organisation. * For efforts in championing technology adoption, was profiled as one of more than 50 women who contribute to the co-operative sector. Show less

    • Head of Finance (Acting)
      • Jun 2019 - Dec 2019

      * Promoted to Head of Finance (Acting) and took over Procurement, Risk Management, PDPA and Corporate Secretarial functions.

    • Senior Director, Finance
      • Apr 2018 - May 2019

      * Assumed control over entire Finance team, overseeing team of 30 finance professionals in Finance Operations, Financial Planning and Analysis (FP&A), Grants Management and Centralised Billing.* Project lead enterprise-wide SAP ERP (S4/HANA) implementation that successfully launched in January 2019 in spite of an aggressive 9-month implementation timeline. Proposed viable solutions to automate purchase-to-pay processes, inventory management, grants tracking/submission and integration with HR and dental clinic systems; resulting in annualised productivity savings of 800 hours.* Tasked with running a pilot project for financial reporting and planning/forecasting on SAP platforms - Business Intelligence (BI) and Business Planning & Consolidation (BPC); both went live in February 2019. * Architect of the end-to-end flow of transactional data from S4/HANA to BPC/BI systems. More importantly it includes creating a one-source-of-truth database comprising both financial and business data elements that will allow the business greater assurance to rely on this information to make business decisions since there is absolute data integrity. Show less

    • Finance Director
      • Aug 2016 - Mar 2018

      * Oversee Finance Operations and Financial Planning and Analysis (FP&A) functions.* Stabilised team by managing poor performers, addressing bad behaviour appropriately, retaining talents who tendered, hiring candidates with appropriate skillsets and galvanising the Finance function through team building activities * Introduced NTUC Health management report within first month of on-boarding; revamped all business unit management reports by incorporating drivers and additional analysis. * Instituted pre-close analysis for all business units, resulting in greater accuracy and timeliness of reporting by Work Day 10. * Resolved legacy inventory related issues (since 2011) and cleaned up balance sheet accounts resulting in $1.4M adjustment to the P&L; through in-depth revenue analysis adjusted a further $1.6M from balance sheet accounts. * Achieved year end close by Work Day 7, a 3-month improvement as prior year end accounts closed only in April; external auditors issued clean audit report for FY2016 statutory audit. * Approached by business heads to take over billing function for day care, residential care and home care businesses. Centralised billing resulted in cost savings of $0.2M per year. * Automated manual processes in Finance Operations, FP&A and Grants Management, resulting in productivity savings of more than 600 hours per year * Participated in NTUC group wide task force to evaluate new ERP solution, which was given board approval to proceed * Involved in sale of Unity Pharmacy and wholesale health food distribution to another social enterprise and post-sale integration * Led and delivered FY 2017 and FY 2018 Budget backed by solid analysis; which was affirmed by CEO. * Received positive feedback from both business heads and direct reports (head of sections) for having strong leadership and stakeholder management skills. Show less

    • Singapore
    • Utilities
    • 700 & Above Employee
    • Head - Group FP&A, Tax and Insurance ; Finance Director - SP Tel (Concurrent)
      • Feb 2016 - Jul 2016

      * Proposed one integrated solution to automate consolidation, budgeting and forecasting processes and management reporting with data analytics for SP Group. Proposal included critical review of existing processes, evaluation of platform solutions and functionalities, computation of cost-benefit analysis with productivity savings and launch of cross functional project team consisting of members from different functions. Proposal was presented to Senior Management Council (SMC) and approval was granted; 2 previous attempts by predecessors to launch similar projects failed to pass SMC. Proposal and cost-benefit analysis was affirmed by Group CEO as a good effort. Project was recommended as SP Group’s Economic Value Add (EVA) project for the year and specifically highlighted by CFO and recommended by COO as excellent example to be used as benchmark for all future projects. * Instituted analysis of pre-consolidated financials and 4th workday flash reporting; thereby improving quality of analysis and timeliness of management reporting by 3 working days. This pre-consolidation analysis will be extended to all business units and adopted as a best practice within the Group. * Worked with Group Regulatory Management and Group Legal to contest capital allowance claim relating to underground tunnel project as tax savings for SP Group is significant; obtained CFO approval to proceed to next stage. * Achieved 15% savings in SP Group’s insurance renewal with increased coverage through robust negotiations with broker and creating competition tension for incumbent insurers against new players in the market. * Advised SP Telecommunication on its new business plan as lead advisor and obtained endorsement from SP Group’s Board for capital expenditure investment over next 2 years. * Appreciated by direct reports (head of sections) for providing constructive feedback on ownership, accountability and managing key stakeholders. Show less

    • Wholesale Building Materials
    • 200 - 300 Employee
    • Senior Manager, Finance, APAC
      • Aug 2014 - Jan 2016

      * Transformed a finance team that operated under a fragmented arrangement introduced through a world-wide initiative 3 years ago. Restructure plan was approved by all relevant stakeholders in various Tyco business/corporate functions regionally & globally including the global CFO. The plan, which includes replacing poor skillsets and empowering remaining talent, is in progress and will complete by early March 2015. Received affirmation from finance & business managers, and in particular from HR, for managing this complex organisational change professionally. * Addressed pressing issues with poor regional business support within 3 months of on-boarding for Fire Protection Product (FPP) & Security Business and Logistics and Distribution (L&D) Operations; both of which APAC regional heads are based in Singapore. * Introduced the FPP Management Report (for the region & at country levels) within 3 months of on-boarding that provided complete and accurate information; this received very favourable feedback from the APAC regional management team as well as the global Senior Leadership Team (SLT). * Kicked off monthly review of APAC financial results between APAC Sales Directors and respective regional finance contacts. Sessions highlight issues relating to inventory turnover, receivables and expense control. And with increased interaction with the business, built credibility as a strategic business partner. * Streamlined various processes across APAC entities including credit policy and approvals, delegation of authority, vendor master creation and inventory write offs Show less

    • Singapore
    • Financial Services
    • 500 - 600 Employee
    • Vice President - Financial Planning and Analysis (FP&A)
      • Sep 2011 - Aug 2014

      * Assumed control over team after 3 prior VPs gave up on the role.* Stabilised team which was experiencing high turnover; rate of turnover was sufficient to fill 3 teams. Turnover rate dropped to 0 after assuming leadership.* Integrated, reshaped and nurtured team with a profile (6 headcounts : 1 VP, 3 Managers, 1 AM & 1 Exec) that is more junior than the former team (6 headcounts : 2VPs, 2 AVPs, 1 Manager, 1 AM). Produced a 3-year plan, commissioned by the COO, to rationalise Finance organisation.* Validated by key stakeholders that team produces work and analysis of a better quality, provides the business & functional groups more relevant information and in a more timely basis.* Spear-headed efforts to drive significant improvements in financial forecast accuracy that was affirmed by Board of Directors; variance in business-as-usual costs dropped from $4M in 2010 to less than $20K in 2013. * Created new management reports that provide business indicators, trends & analysis to aid performance measurement. Established deep-dive revenue analysis across all business units. Supported businesses and management in scenario planning and project evaluations. * Streamlined and automated work processes to shorten turnaround time to business partners. Vastly improved forecasting process and over-hauled budgeting cycle with greater business engagement. Led initial standardisation of company’s purchase-to-pay process and currently fronting initiative to fully automate process in line with commitment to regulators. * Excellent high performance behaviour (HPB) substantiated by 360 degree review conducted by Aon Hewitt in 2012; ranked at the top end of the peer group in most regards. Convergence in ratings across all 3 polled groups (staff, peers and superiors) confirms consistency in behaviours. * Constantly rated "Exceeds Expectations" for every performance year, received long-term incentive award for 2 performance years; awarded overseas staff incentive trip in 2013. Show less

    • Assistant Vice President - Financial Planning & Analysis (FP&A)
      • Aug 2010 - Aug 2011

      * Business Support for Micropayments, Channels and eNETS* Proposed deep dive revenue analysis that was subsequently extended to all Business Units* Created new Management Reports that provides information, business indicators, charts & graphs to aid performance tracking* Initiate new process improvement or streamline section's work processes to shorten turnaround time* Assume team lead for FP&A team, driving Budgeting and Forecasting process

    • Senior Financial Analyst
      • Aug 2009 - Jul 2010

      * Overall reporting, planning and analysis lead for GSB business in Asia Pacific and Japan. * Single point-of-contact for the GSB VP as well as other GSB/IPG management regarding finance matters. * Lead and manage the long term forecast process and other planning/reporting activities. * Streamlined financials, analytics and management reports to business managers; driving business towards forecast accuracy and linearity. * Worked closely with the World Wide GSB Finance team at the to drive common processes in Asia Pacific and Japan * Introduced process to actively manage OPEX and productivity (per headcount) Show less

    • Senior Financial Analyst
      • May 2005 - Jul 2009

      * Planning & reporting lead for Supply Chain Finance (factory and distribution center); technical consultant to Asia Pacific Supply Chain finance team. * Business support to Supply Chain team, Business Logistics team and Asia Customization Center; Finance lead to the supply chain managers for long term planning & forecast process. * Focal point for division’s financial accounting/ reporting and taxation matters liaising with Singapore Controllership, Asia-Pacific General Ledger Hub & Corporate Tax. * Subject Matter Expert (SME) for HP Internal Inter-Company Pricing model (ROVAC); provided training to Asia Pacific Supply Chain finance teams as well as business teams in the region. * Project led in implementing SOX for Supply Chain finance team; ensuring all finance processes are SOX compliant. * Subject Matter Expert (SME) for SAP GL system; provided training to Asia Pacific Supply Chain finance teams. * Awarded PSG Asia Pacific Leadership Award 2009. Show less

    • United States
    • Technology, Information and Internet
    • 1 - 100 Employee
    • Senior Financial Analyst
      • May 1999 - Aug 2002

      * Coordinated division’s world-wide (US, Europe, Asia-Pacific & Japan) financial planning and monthly reporting activities * Analysed ROI and other financial indices for special initiatives. * Managed the division’s trade royalty accounting process, contracts and internal audits* Implemented effectively new financial accounting systems and reporting tools to all Asia-Pacific entities within deadlines. * Improved process for royalty accounting and disbursement for Microsoft and other 3rd party vendors such that processing time reduced from 2 days to 2 hours. * Managed Australia calculators division’s excess obsolescence exposures resulting in minimal write-offs upon winding down of the business. Show less

    • Financial Analyst II
      • May 1997 - May 1999

      * Lead analyst for Distribution Centre’s Asia Pacific business. Consolidated, reported and analysed monthly financial performance; involved in forecasting, budgeting and financial studies relating to business.* Business partner to the management and major product line business head.* Spearheaded successful implementation of new accounting system for Distribution Centre.* Assisted finance head in starting up finance team; trained new colleagues in both the financial system and processes. Show less

    • Tutor
      • Jul 1995 - Mar 1997

      Led tutorials on Financial Accounting to NTU undergraduates while pursuing Masters Degree. Led tutorials on Financial Accounting to NTU undergraduates while pursuing Masters Degree.

    • United Kingdom
    • IT Services and IT Consulting
    • 700 & Above Employee
    • Audit Assistant
      • Jul 1994 - Jun 1995

      Completed 3-months assignment at an information technology multi-national to document all financial process flows, recommend process improvements and more robust internal controls. Completed 3-months assignment at an information technology multi-national to document all financial process flows, recommend process improvements and more robust internal controls.

Education

  • Nanyang Technological University
    Masters of Science (Business), Business
    1995 - 1996
  • Nanyang Technological University
    Bachelor of Accountancy, Second Class Honors - Upper Division
    1991 - 1994
  • Hwa Chong Junior College
    Accounting, Commerce Stream
    1989 - 1990
  • INSTITUTE OF SINGAPORE CHARTERED ACCOUNTANTS
    Chartered Accountant of Singapore, Accounting
    2013 -

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