Financial Analyst, Revenue Recognition & Analytics (Hybrid)
About the position Revenue Recognition & Analytics is a Center of Excellence in the corporate finance function at Quest Diagnostics. The department has ownership and responsibility for the accuracy and integrity of reported revenue, patient concessions, bad debt and associated accounts receivable reserves. Our mission is to provide value added insight, analysis and financial reporting to safeguard the company’s assets and maximize cash flow. 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. The Financial Analyst - Revenue Recognition & Analytics (RR&A) directly supports one of Quest’s regions and/or other DIS businesses and assists with critical components of our Revenue Recognition Close Process. The individual must manage a complex workload in a rapidly changing, fast paced environment. They will interact regularly with their business partners who include regional and billing team members, as well as team members from other centralized corporate finance functions. We strive for our Financial Analysts to serve as effective suppliers and customers to other members of the RR&A team and their business partners by providing them with market specific insights, standard analytics, and consistent forecasting and budget assumptions, where appropriate. Responsibilities • Assist in the recognition of revenue and valuation of associated receivable reserves for their responsible areas • Analyze receivables and related disallowance, patient price concessions & bad debt reserves to drive the decision making process and record related journal entries • Develop, maintain, and distribute reporting schedules • Ensure an appropriate accounting control environment that tightly manages the internal control environment and integrity of the financial statements • Work directly with our key business partners • Analyze significant trends and report monthly financial results • Contribute to monthly Revenue Analytics Reporting to Regional Leadership Teams (RFDs, General Managers, VP Commercial, VP Operations) • Participate in the revenue and volume forecasting and budgeting process • Serve as an effective business partner to Regional Revenue Services and Finance personnel and actively participate in monthly billing and finance meetings • Collaboratively drive initiatives and recommend solutions • 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. • Develop and maintain standardized best practices for revenue reporting and analysis • Drive continuous improvement to deliver the highest quality • Continually reassess customer needs and react timely to changing market dynamics • Proactively identify trends and collaborate with stakeholders to investigate and take appropriate action • Integrate data from across various groups, including Health Plan Finance, Regional finance and operations, Treasury, and Corporate Accounting to construct an overall understanding of our Revenue Performance that delivers meaningful insights • Support M&A initiatives, audits, and other special projects as needed Requirements • Bachelor’s degree in Accounting or equivalent degree required • Minimum of 1- 3 years of relevant experience in large public accounting firm or corporate accounting function • Strong computer and analytical skills • Excellent verbal and written communication skills Nice-to-haves • CPA and/or MBA is a plus Benefits • Day 1 Medical, supplemental health, dental & vision for FT employees who work 30+ hours • Best-in-class well-being programs • Annual, no-cost health assessment program Blueprint for Wellness® • healthyMINDS mental health program • Vacation and Health/Flex Time • 6 Holidays plus 1 "MyDay" off • FinFit financial coaching and services • 401(k) pre-tax and/or Roth IRA with company match up to 5% after 12 months of service • Employee stock purchase plan • Life and disability insurance, plus buy-up option • Flexible Spending Accounts • Annual incentive plans • Matching gifts program • Education assistance through MyQuest for Education • Career advancement opportunities • and so much more! Apply tot his job