Sr. Financial Analyst- Secaucus, New Jersey in Secaucus, NJ at Quest Diagnostics

Date Posted: 2/9/2021

Job Snapshot

Job Description

Sr. Financial Analyst - Revenue Recognition and Analytics - Secaucus, New Jersey 

 There's quite a distance between wondering and knowing. And for patients waiting for answers to important health questions, it's a road they want to travel as quickly as possible.

Currently, we have an opportunity available for a Senior Financial Analyst - Revenue Recognition and Analytics at our corporate headquarters in Secaucus, NJ.  Revenue Recognition &  Analytics is a Center of Expertise within the corporate accounting function.

At Quest Diagnostics Incorporated, we understand urgency. But more than speed, we focus our energies on accuracy.  We strive for our Senior Financial Analysts to serve as an effective supplier and customer to other members of the Revenue Recognition and Analytics team by providing them with market specific insights, standard analytics, consistent forecasting and budget assumptions, where appropriate.    

Here at Quest, we believe in “paying it forward” – doing good for each other as well as our broader community.  We ask each employee to commit to the Revenue Recognition and Analytics Standards of Behavior.

By committing to a personal development via continuous maintenance of an Individual Development Plan, engaging in training and learning opportunities, and having an active mentoring relationship, Quest employees have the opportunity to create their own destiny.  We believe in setting goals, developing a vision and then working to achieve the goals that have been set.

Job Summary

A Senior Financial Analyst in Revenue Recognition & Analytics would:

  • Have full ownership and responsibility for the valuation and recording of all revenue and associated receivable reserves for all domestic  Diagnostic Information Services (DIS) businesses (approx. $7B revenue and $3B reserves in 2019) and the related accuracy and integrity of the reported numbers, as well as ownership and responsibility for the analysis, forecasting and budgeting of revenues and volumes for the Domestic DIS businesses.  (Related revenue approximates $6.6B).
  • Be Responsible for revenue recognition, and the general ledger recording, reporting, calculation and analysis of receivables and related disallowance, patient price concessions & bad debt reserves for business units.  Revenue Recognition and Accounts Receivable Reserve maintenance is one of the Company’s “significant accounting policies” as defined in the Company’s SEC filings, as it involves a high degree of judgment.
  • Ensure an appropriate accounting control environment that produces “ no surprises”, tightly manages the internal control environment, meets the requirements of the Company’s Internal Control Assessment supporting requirements of Sarbanes-Oxley, ensure “clean” internal and external audit reviews, adherence to accounting policies and authorization practices, and overall integrity of the financial statements. 
  • Contribute to the Company’s establishment of a Revenue Analytics Center of Expertise with direct ownership and accountability for the analysis and explanation of significant trends, explaining monthly financial results, and the revenue and volume forecasting and budgeting process.   Participate in the centralization of revenue analytics, forecasting and budgeting processes (processes, SOP’s, checklists, system configuration and tools) to support efficient and effective analytics, forecasting and budgeting. 
  • Develop and maintain standardized best practices regarding the reporting and analysis of revenues, including the design of management reporting, analytical tools and related processes.  Drive continuous improvement to deliver the highest quality.  Continually reassess customer needs in light of business / market dynamics, proactively identifying trends and working with Business Partners to adjust deliverables accordingly. 
  • Integrate data from across various groups (Clinical Franchises, Pathology and Professional Lab Services, HealthPlans, Sales Operations, Government Affairs, Strategy, Pricing, Regional Finance) to construct an overall understanding of our Revenue Performance that delivers meaningful insights. 
  • Contribute to monthly Revenue Analytics Reporting to Regional Leadership Teams (RFDs, General Managers, VP Commercial, VP Operations) 
  • Generate and review key reports in support of the revenue recognition and accounts receivable valuation process.  Reports include items such as disallowance, price concessions, bad debt, adjustments, rejects, cash and DSO.  Contribute to the Company’s Management Reporting to Senior Management (CFO, VP Controller) through contributions to the monthly “AR Package”.  
  • Serve as an effective business partner to Regional Revenue Services and Finance personnel.  Actively participate in monthly billing deck calls.  Review billing benchmarks for changes in trend.  Collaboratively drive initiatives and recommend solutions targeted at cash maximization and reduction of bad debt expense.  Recognizing that this centralized team serves many business partners, be agile, customer focused and performance oriented.  To the extent competing priorities are encountered, be transparent in communicating the prioritization and the underlying reasons. 
  • Review work performed by others in the group. 
  • Special projects, as needed. 

Qualifications

  • Bachelor’s degree in Accounting and a minimum of 3 - 5 years of relevant experience in large public or corporate accounting
  • Strong computer and analytical skills 
  • Excellent verbal and written communication skills
  • CPA and/or MBA is a plus

Please Log In or Register to Upload a Resume and complete the online Application. Because of the large number of applicants to job openings, Quest Diagnostics will only contact candidates to be interviewed

Employees must upload or send to the Recruiter a completed Request For Transfer (RFT) and the employee's most recent Performance Development & Review (PDR).

Quest Diagnostics has many career opportunities for individuals whose talent, initiative and dedication will complement our belief that the patient comes first and that values do matter. We work to earn our customers’ trust every day by providing the highest quality diagnostic information services in a professional, accessible and informative way. Our workforce is diverse and talented and believes in our vision: "Empowering Better Health with Diagnostic Insights."

[All requirements are subject to possible modifications to reasonably accommodate individuals with disabilities.]

Quest Diagnostics is an Equal Opportunity Employer (EEO).

If you’re interested in career opportunities, but not ready to apply, join our talent network to stay connected to us and receive updates on the latest job opportunities and company news.

Group of people