nnCompany is seeking an individual with CRO industry experience to stand up an Operations Finance function focused on supporting and optimizing financial performance on Biopharma contracts.
The individual must effectively form business partnerships with Project Managers and Business Development to support a number of critical financial functions.
The ideal candidate will bring an entrepreneurial spirit to the organization to establish processes, leverage existing financial systems, and constructively work with project teams to continuously improve the financial performance on Biopharma contracts.
The individual must assume accountability for the financial performance of Company’ Biopharma portfolio as the finance partner to the Biopharma business unit.
Responsibilities include solving problems creatively, liaising with project teams and subject matter experts, help establish pricing strategy, building and maintaining a pricing tool, managing revenue recognition and forecasting, overseeing invoicing, and leading financial analysis responsibilities.
nn nn Responsibilities nn
• Participates in the proposal review process for Biopharma bids to ensure accuracy and alignment with corporate profit targets
• Build a pricing tool to increase efficiency in generating ballpark estimates and full budgets for full service and functional service contracts
• Establish and maintain corporate global rate card
• Establish and maintain controls and processes around revenue recognition with Biopharma clients; support the monthly revenue recognition process for fixed price contracts, providing calculations and support to the Corporate Controller within the time constraints of the month-end financial reporting process; monitor percentage of completion by contract and provide waterfall estimates for existing backlog
• Work with the Accounting department to ensure client invoices are issued in accordance with the terms of the contract on all fixed price contracts
• Develop methods and perform routine analysis to identify projects at risk of overrunning budgets; work with operations teams to help address issues related to profitability and/or efficiency improvements; identify trends on at-risk projects and provide financial guidance to operations management
• Closely monitor project milestone, timelines and budget impact and assess impact; work in collaboration with Project Managers to process contract modifications and change orders
• Support Project Management with ad hoc financial needs
• Leads and participates in the analysis of cost assignments, ensuring all assigned projects adhere to accepted cost accounting standards
• Leads review and delivery of internal/external reporting
• Establish a monthly process and report on actual vs forecasted revenue by project and explain the differences
• Prepares project budgets and forecasts
• Perform analysis of actual vs budgeted effort and communicate recommendations to realize operational efficiencies; utilize this analysis to adjust pricing estimates to increase accuracy
• Other duties as assigned nn Experience nn
• Bachelor’s degree in a job-related area or equivalent relevant academic or vocational qualification
• MBA and CPA preferred
• 10 years of relevant working experience in Finance/Accounting to include global Biopharma CRO industry experience in an Operations Finance role
• Proven ability to communicate well with all levels of management; must be effective in converting data into useful information and communicating that information through concise commentary.
• Collaborative working style, ability to foster effective working relationships and build trust across a team environment
• Ability to work in a fast-paced, matrixed, challenging environment with strong attention to detail
• Project leadership and consultancy skills with ability to function as an effective and respected partner to internal clients
• Advanced knowledge of accounting/financial principles and best practices
• Ability to apply advanced knowledge, skills, and expertise to analysis
• Good business acumen with ability to understand complex organizational structures and environments
• Excellent analytical and quantitative skills
• Advanced level of skill in Microsoft Excel and PowerPoint for analysis and presentation of data