Financial Analyst I

When our values align, there's no limit to what we can achieve.
 
At Parexel, we all share the same goal - to improve the world's health. From clinical trials to regulatory, consulting, and market access, every clinical development solution we provide is underpinned by something special - a deep conviction in what we do.

Each of us, no matter what we do at Parexel, contributes to the development of a therapy that ultimately will benefit a patient. We take our work personally, we do it with empathy and we're committed to making a difference.

The Finance Analyst is expected to establish themselves as a “co-pilot”, along with the Project Leader (PL), in steering a set of projects to their targeted financial goals (e.g. revenue, profitability, cash flow, etc.). As such, the FA acquires an understanding of the project economics and profitability drivers. Under supervision, they assist in translating them into operational actions, and proactively advising the stakeholder on how to influence critical operational levers in order to positively impact project financials. The Finance Analyst is the "go-to" person for broader Finance understanding or insight into defined projects. The main success factors of this role include strong business acumen, strong grasp of project operations and their implications for financial performance, and strong technical, analytical and consulting skills. Finance Analysts are expected to build business relationships across all areas of the organization, drive tactical decisions, and become a trusted advisor to their assigned business unit.
Key Accountabilities;

• Create accurate, transparent, and timely financial analysis to support assigned business unit in project decision making process; clearly articulate financial implications of business decisions and provide retrospective analysis as well as drive forward looking actions on simpler projects / contract types.

• Facilitate the monthly revenue cycle and support project analysis requirements, including a review of units, forecast, unit prices, and revenue recognition. Complete all required variance analyses for the set of projects, with insight. Identify risks in the project forecast and opportunities to improve revenue outlook. Communicate, document and manage these on an ongoing message. Understand alternative finance scenarios within a project with a degree of technical knowledge and business acumen.

• Provide updates on financial status for assigned projects and create information in response to any client financial reporting needs for assigned projects in the area of project reporting, forecasting, or transactional details for the projects within the portfolio.

• For less complex projects, actively monitor the balance sheet positions of projects within the portfolio. Initiate action as needed with project teams to keep balances current, improving DSO and cash flow.

• Put steps in place with project teams to ensure pass-thrus are managed within project budgets, including appropriate to trigger change in scope as needed.

• Maintain, produce and communicate a relevant and impactful set of project financial metrics designed to support evaluation of financial performance consistent with the project and contract types being managed. In partnership with project teams, prepare and conduct a monthly project review of performance, operational status, and outlook. The review will focus on revenue forecast, labor and margin, billing status, assumptions, special contract items. The review should capture potential improvement opportunities and actions will be taken.

• Review labor assumptions on assigned projects, both volume and mix. Build discipline in our project teams in charging time accurately. Understands project resource planning support, monitor resource levels on ongoing projects and identify and communicate project/portfolio margin implications.

General Expectations;

• Understands and delivers to expectations, such as: project/proposal deliverables, reporting, etc.

• Demonstrates critical thinking /problem solving skills.

• Learns quickly, applies gained knowledge to further deliverables and duties in role.

• Understands fundamentals of CRO industry and how Finance's role influences in the organization.

• Delivers standard/typical work deliverables with minimal issues.

Technical Expectations;

• Demonstrates effective, proactive financial support.

• Has ability to deliver accurate reports/information to various parties.

• Knowledge of ASC 605 / ASC 606

• Understands drivers of success in role; able to hit deadlines with goal of first-time quality.

• Continues building financial analysis skills.

Communication & Partnering Skills;

• Organizes their workflow, understands how to manage their time to hit their deliverables.

• More vocal in meetings and interactions within Finance and the broader organization.

• Intermediate variance analysis & commentary skills, continued improvement expected.

• Developing influencing skills, including using data to help persuade.

Skills & Education;

• Prioritizes, sets expectations and works in an efficient and disciplined manner.

• Thrives in a complex, fast-paced, matrix environment.

• Strong experience with Excel and PowerPoint applications; experience with financial performance systems (e.g., Hyperion)

• Ability to manage multiple and varied tasks with enthusiasm and prioritize workload with attention to detail.

• Interpersonal skills.

• Strong command of the English language, both written and verbal.

• BA in Finance or Accounting, or relevant professional qualification preferred e.g. ACA, ACCA, CIMA etc.