Description
The Financial Analyst reflects the mission, vision, and values of NM, adheres to the organization’s Code of Ethics and Corporate Compliance Program, and complies with all relevant policies, procedures, guidelines and all other regulatory and accreditation standards.
The Financial Analyst is responsible for recording transactions, performing analysis activities, and evaluating trends and drivers at Northwestern Medicine. The position will also be charged with the preparation and some review activities related to the month end close process; as well as support for the annual financial statement audit. The analyst will need to understand complex financial concepts in a fast paced environment.
Responsibilities:
- Meet financial objectives by identifying and evaluating trends, analyzing variances, and initiating any corrective actions or adjustments.
- Prepare reconciliations, analyze variances, and initiate corrective actions on transactions with a high degree of complexity in support for finance and operating departments.
ADDENDUM:
Analysis:
• Review lease PO for documentation, expiration, asset definition. Determine ASC842 implications.
• Analyze complex transactions including embedded leases, real estate, build to suit, short and long term
arrangements.
• Determinate and coordinate data collection to support lease analysis and calculations.
• Evaluate leased asset fair value and document support
• Research lease exposure and due dates required for lease obligation footnote schedule. Compile commitment obligation footnote schedule support.
• Engage with Purchasing, Sourcing, Contracting, and requestors to understand details and embedded leased elements
• Reconcile lease roll-forwards. Investigate variances and prepare resolutions for posting prior to fiscal close. Prepare reconciliations; analyze variances; and initiate corrective actions on transactions with a high degree of complexity in support for finance and operating departments.
• Research lease support documentation for affiliation valuation and reconciliation, including contracts, financial/operating implications
• Research and interpret changes in financial reporting policy, applying observations and recommendations to operational issues.
• Integrate leased asset information into the central repository.
Application:
• Process Lease admin acquisitions and amendments, Asset Management transfers and retirements in ERP
application.
Acquisitions:
• Research and compile documentation to support the fair value of acquisitions. Perform site visits to document, tag, or confirm equipment existence and complete appropriate reconciliations of appraisals or related submittals. Prepare tangible and intangible allocation based on site visit and 3rd party appraisal valuation.
• Work with all leadership levels to resolve leases, invoice, and asset reconciliation discrepancies. Research and communicate recommended actions to resolved issues.
Audit:
• Research unresolved leased asset transactions that require leadership’s attention and assist managers in timely transaction resolution.
• Participate in the monthly, quarterly, and year end close and audit activities.
Reporting:
• Provide support and analysis by querying appropriate data, preparing reports, making presentations of analysis, findings, and recommendations to management.
• Work with leadership in review of potential lease proposals to ensure that costs are correctly defined and documented as finance or operating.
• Compile month-end senior management and board lease presentations including footnotes, lease vs buy, and monthly close meeting strategic projects analysis.
QUALIFICATIONS
Required:
• Bachelor’s degree in Accounting, Finance, or related field
• Requires high attention to detail, strong communication, collaboration, and analytical skills
• Experience in a fast paced, dynamic environment
• Advanced knowledge of Microsoft Office Suite – specifically Excel and PowerPoint
• Moderate knowledge of Access, SQL, and relational databases
Preferred:
• Master degree in Accounting, Finance, or Business Administration
• PeopleSoft or comparable ERP experience
• Experience in project management
• Systems experience using tools to manage multiple capital projects and asset transactions
Qualifications
Required:
- Degree in Finance/Accounting or related field.
- 3+ years of relevant experience.
- Excellent communication, collaboration, analytical, and accounting skills.
- High level of precision and attention to detail.
- Expert knowledge of Microsoft Office Suite.
Preferred:
- Public Accounting experience.
- CPA or CHFP certification.
- Experience with an enterprise resource planning (ERP) system, preferably PeopleSoft.
- Healthcare finance experience.
Equal Opportunity
Northwestern Medicine is an affirmative action/equal opportunity employer and does not discriminate in hiring or employment on the basis of age, sex, race, color, religion, national origin, gender identity, veteran status, disability, sexual orientation or any other protected status.
Benefits
We offer a wide range of benefits that provide employees with tools and resources to improve their physical, emotional, and financial well-being while providing protection for unexpected life events. Please visit our Benefits section to learn more.
