Position Summary:
The Principal Financial Analyst is responsible for leading all aspects of project financial management, ensuring the seamless financial execution of projects from award to completion. The role encompasses costing review, invoice processing, accounts receivable, budget health monitoring, and comprehensive project profitability reporting. Additionally, the Analyst actively manages change orders, contributes to revenue forecasting, and provides key insights to optimize project financial outcomes. The position may include ERP portfolio analyses, supporting financial audits, and actively participating in the professional development of the project finance team.
Essential functions of the job include but are not limited to:
- Lead project financials throughout the project lifecycle, ensuring adherence to financial best practices and project profitability goals.
- Perform comprehensive portfolio analysis, leveraging data insights to optimize financial strategies.
- Monitor accounts receivable and proactively address issues to ensure timely payments and optimal budget health.
- Skillfully manage change orders, providing strategic guidance for effective financial impact assessment.
- Financially contribute to work orders, change orders, and vendor agreements by reviewing financial language and negotiating with 3rd parties as applicable.
- Play a pivotal role in revenue forecasting, utilizing financial models and data analysis for accurate projections.
- Facilitate the preparation of the monthly invoicing cycle in conjunction with the Project Manager via the ERP System which is the source document for client invoicing and source of revenue recognition.
- Collaborate with cross-functional teams to develop and implement financial strategies aligned with project goals.
- Assist with special financial projects, including complex financial modeling and analysis.
- Support financial audits, ensuring compliance and accuracy in financial reporting.
- Work with the Accounting Team monthly in support of the financial close.
- Represent the department in all areas of project finance, fostering collaboration and providing financial expertise.
- Assigned the most complex global studies which require extensive financial preparation, leading client meetings, provide accruals, forecasting, etc.
- Responsible for preparing and leading Sponsor, Vendor, and cross functional calls such as QBR’s, financial discussions and negotiation of financial contract language calls.
- Management of the financial change order process for assigned studies including reviewing change orders financially for other financial analysts.
- Contribute to the professional development of the team by training and mentoring other financial analysts.
- Collaborate with others in Finance to support overall department goals and objectives.
- Responds to inquiries from the CFO and VP, Operational Finance regarding financial results, special reporting requests and ad hoc analyses relating to projects.
- Assist in the development and implementation of new procedures and features to enhance the workflow and internal controls.
Qualifications:
Minimum Required:
Degree in Accounting/Finance or related business field.
Other Required:
Minimum of 15 years of related experience with a degree; or 12 years and a master’s degree/post graduate degree or CPA/equivalent; or a PhD with 8 years’ experience or equivalent experience.
- Working knowledge of all areas of the accounting cycle, project budgets, financial project management, project profitability, and financial contract review with the ability to connect the dots across the organization.
- Experience in the CRO industry required.
- 5%-10% travel as required to clients and/or offices.
Preferred:
- MBA or CPA
- Experience with ERP Systems
Competencies
- Strong Working knowledge of the life cycle of a project with a solid foundation of how the
financials and contract status impact each stage of the clinical trials.
- Advanced communication skills are required, as this management position will be working with internal and external customers and will need to be able to resolve issues in a way that builds customer confidence and supports the overall study team.
- Advanced Business Acumen is required for this position. This individual must be able to see and understand the big picture, be very detailed, and have the capacity to connect the dots.
- Advanced Excel / PC skills and able to thrive in a multi-tasking environment.
- Strong financial and analytical skills.
- High energy and enthusiasm with a strong commitment to exceeding expectations.
- Ability to multi-task and work cross functionally within the overall organization.
- Ability to learn quickly.
- Strong oral and written communication interpersonal skills with the ability to connect and build relationships with management and others throughout the organization.
- Exhibits self-motivation and can work / plan independently as well as in a team environment.
Precision is required by law in some states or cities to include a reasonable estimate of the compensation range for this role. This compensation range takes into account the wide range of factors that are considered in making compensation decisions including but not limited to: skill sets, experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the position may be filled. At Precision, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. This role is also eligible for a discretionary annual bonus, health insurance, retirement savings benefits, life insurance and disability benefits, parental leave, and paid time off for sick leave and vacation, among other benefits.
Reasonable estimate of the current range
$80,000—$120,000 CAD
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Precision Medicine Group is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, age, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other characteristics protected by law. © 2020 Precision Medicine Group, LLC
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What We Do
We founded Precision Medicine Group in 2012 because we believed there was a transformational opportunity to improve the process of bringing new drugs to market. It involves utilizing technology, data, and human expertise. It is a big challenge that requires diverse talents. Our model involves both nurturing and investing organically and acquiring capabilities that we do not have but critically need. Our core executive team is anchored to this model, building life science services that address fundamental changes in healthcare that are necessary for health and outcomes improvement.
