Senior Director, Finance - Great Midwest in Wood Dale, IL at Quest Diagnostics

Date Posted: 5/6/2022

Job Snapshot

Job Description

Senior Director, Finance – Great Midwest Region

(Wood Dale, IL or Lenexa, KS)

Recognized by FORTUNE magazine as one of the “World’s Most Admired Companies,” Quest Diagnostics is the world's leading provider of diagnostic testing, information and services that doctors and patients need to make better healthcare decisions. They are pioneers in developing innovative diagnostic tests and advanced healthcare information technology solutions that help improve patient care.

With corporate headquarters in Secaucus, NJ, Quest Diagnostics is a Fortune 500 company traded on the New York Stock Exchange (NYSE: DGX) and included in the Dow Jones Sustainability World Index.  With 2020 revenues of $9.44 Billion and approximately 50,000 employees and 6,600 patient locations across the US, Quest Diagnostics serves half of the physicians and hospitals in the US with their large variety of products and services. 

The company offers the broadest access to diagnostic testing services through its network of laboratories and patient service centers and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics also provides services to employers, life insurance companies, other commercial labs, clinics, health plans, government agencies, and organizations involved in clinical trials research.

Approximately 150 million times each year, patients and their physicians rely upon Quest Diagnostics results to make important healthcare decisions and approximately one third of U.S. physicians – and many of the country’s leading hospitals and health systems – relies on Quest Diagnostics healthcare information solutions to foster better patient care and outcomes.

Awards/Recognitions

 

•       FORTUNE magazine's "World's Most Admired Companies" list for 7 consecutive years; one of only five companies to attain Most Admired status in the "Health Care, Pharmacy and Other Services" industry category. 

•       Fortune magazine’s Fortune 500 list

•       Forbes® Global 2000

•       Forbes®' America's Best Employers List for third consecutive year

•       Forbes® 2020 America’s Best Employers for Women for second consecutive year

•       S&P 500

•       Barron’s 500

•       Member of the Dow Jones® Sustainability World Index

•       Included in the FTSE4Good, Calvert, and Ocean Tomo sustainability indices

•       Listed in the most recent Newsweek Green Rankings

•       Consistently named one of the best places to work in U.S. business journal rankings

•       Named a DiversityInc Noteworthy Company for third consecutive year

•       Listed on the Disability Equality Index® (DEI), a joint initiative of the American Association of People with Disabilities (AAPD) and the US Business Leadership Network (USBLN), recognizing companies for prioritizing the inclusion of people with disabilities

•       Named Top 23 ‘Best Places to Work for LGBTQ Equality’ in New Jersey

•       Named a Best Place to Work for LGBTQ Equality by scoring a perfect 100 on the Human Rights Campaign Foundation’s 2021 Corporate Equality Index (CEI) for the fifth consecutive year.

•       Achieved Cancer Gold Standard accreditation from the CEO Roundtable on Cancer, recognizing our actions to reduce the cancer risk of employees and their families

•       Received C. Everett Koop National Health Award for Efforts to Promote Employee Health in 2020

 

Diagnostic Testing Services

 

Quest Diagnostics is the world’s leading provider of diagnostic testing, information, and services that patients and doctors need to make better healthcare decisions. Their services range from routine blood tests — such as total cholesterol, Pap testing and white blood cell count — to complex, gene-based and molecular testing. They perform medical tests that aid in the diagnosis or detection of diseases, measure the progress or recovery from a disease or confirm that an individual is free from disease. In addition, they have specialized expertise in cancer, cardiovascular diseases, infectious diseases, and neurology.

Outlook

 

In the $60 Billion and growing US Diagnostic Testing Market, Quest Diagnostics is the leader. Quest Diagnostics’ reputation as a leading innovator, provider of high value, low cost solutions and its financial strength and flexibility make it well positioned to capitalize on the evolving healthcare landscape.

Quest Diagnostics’ long-term strategy is to become the undisputed world leader in diagnostic testing, information, and services. To drive this profitable growth, Quest Diagnostics plans to leverage capabilities to create differentiation:

•       Deliver Innovative Solutions

•       Leverage their Unparalleled Access and Distribution Network

•       Expand their relationships with large payors and health systems

•       Deliver Superior Patient Experiences

Position Description

The Senior Director, Finance – Great Midwest Region (GMW) is a key strategic business partner to the Commercial VP, Operations VP, and General Manager within the region.  They are responsible for supporting Regional Leadership across all areas related to Finance, and business performance related to revenue growth and operational efficiency.  Annual revenue for the Great Midwest Region is in excess of $1.5 billion.

 

Responsibilities

•       Serves as a critical strategic business partner to Regional Commercial VP, Operations VP, and General Manager.

•       Reporting and working closely with the VP Finance – Enterprise Operations on all areas of financial performance and people development.

•       Collaborates to drive business performance with the Regional Leadership Team.

•       Drives business performance, including the execution of business strategies to grow revenue, increase profitability and contain costs.

•       Serves as a liaison between the GMW Region and all corporate functions, especially Centers of Excellence/Shared Services including, but not limited to, Centralized Accounting, Revenue Control, Financial, Planning & Analysis, Pricing and Business Development.

•       Active participant in Market Strategy to review and prioritize strategic growth initiatives based on financial returns.

•       P&L accountability, as part of monthly close process – “owns the P&L.”

•       Collaborate with centralized teams during the Month End Close and budget/forecasting processes (P&L, Financial Reporting, and General Accounting).

•       Provide business insights on the Region’s performance to Regional leadership.

•       Budget/Forecasting processes – provide business trends/insights/actions to FP&A.

•       Identify issues/opportunities to improve performance (growth, productivity, etc.).

•       Business modeling and analysis, as well as client account management/profitability analysis.

•       The implementation of physical inventory controls and asset management controls.

•       Capital investment analysis and fixed asset tagging.

•       Physician Office Laboratory (POL) take-downs, as well as In-Office Phlebotomist/Patient Service Center (IOP/PSC) analyses.

•       Purchase testing arrangements.

•       TC/PC arrangements (footprint/customer arrangements).

Qualifications

•       Bachelor’s Degree in Finance or Accounting.

•       CPA or MBA preferred.

•       International experience desired.

•       Approx. 15 + years’ experience of professional accounting/finance experience.

•       Demonstrates a strong knowledge of operational and financial processes and practical application of financial and strategic analysis.

•       Demonstrates exceptional skill in working with senior management and the executive team.

 

Competencies Critical for Success in the Role

•       Priority Setting

•       Business Acumen

•       Strategic Thinking

•       Presentation Skills

•       Problem Solving

•       Directing Others

•       Building an Effective Team

•       Managing and Measuring Work

•       Strong leadership and professional presence

•       Capability to work with senior executives

Direct Reports to this Position

•       Two direct reports at the Manager level, and an overall footprint of six FTEs.