<p>Manage all aspects of clinical trial accounting and reporting for a portfolio of studies. As the financial expert for investigators and clinical trial teams, prepare accurate revenue and expense reports, proactively identify and address any negative trends or concerns with study teams and respond to questions in a timely manner. Develop/maintain positive, client-service oriented working relationships with the Clinical Trial Financial Services Team (CTFS), study teams and external business partners.<br /><br />Ensure complete and accurate revenue recognition. Design tools to forecast study-related costs. Improve financial reporting models and processes resulting in greater reporting speed and accuracy. Serve as the key interface and representative from CTFS with the clinical department and various external business partners. Thoroughly understand and interpret complex studies and their current status. Explain budget variances and changes from prior period. Provide financial analysis support to the clinical operations team. Supply support data to assist in the preparation of the clinical budget. Ensure compliance with all official administrative policies and procedures as well as state and federal regulations.<br /><br />Essential Functions or Job Duties<br /><br />Business & Industry Clinical Contract Reporting, Accounting and Analysis (70%)</p><ul><li>Provide timely and accurate financial analysis and support to Principal Investigator (PI) and study teams over the life of business & industry clinical contracts. Partner with PI to interpret budget and manage expenses properly while ensuring compliance with University policies and procedures and state and federal regulations. </li><li>Financial expert for assigned studies. Explain variances from budget and prior-period to PI, study team and CTFS Director. Ensure complete and accurate revenue recognition, reconcile patient visits and sponsor payments and perform other reconciliations to ensure report accuracy. Forecast future revenue and expenses and pro-actively communicate potential deficit, residual, or unexpended study balances. Respond to questions from study team in a clear and timely manner.</li><li>Monitor spending, evaluate trends, communicate issues clearly, certify effort, identify and correct errors (such as payment applied to incorrect account), and meet deadlines. Review and approve invoices and create journal entries. Calculate effort and work with department accountants to ensure effort on clinical trials is included on PI and clinical staff effort statements.</li><li>Reconcile and manage revenue in consultation with Sponsored Financial Reporting (SFR) and the sponsor. In collaboration with Sponsored Projects Administration (SPA) and SFR, close-out studies as appropriate. </li><li>Review and prepare reports on a monthly basis, meet or exceed reporting deadlines and apply a high level of organization and attention to detail.</li></ul><p>Contribute to the development of continuous process improvement within the department (15%)</p><ul><li>Design and implement data gathering and reporting process improvements to improve financial reporting accuracy, clarity and timeliness. Help department to expand analytical capabilities and identify/implement cost-saving opportunities.</li></ul><p>Complete other accounting and financial duties/special projects as assigned (15%)</p><ul><li>Apply continuous cross-training. Update and expand training and education materials. Train and review work of newer accountants. Build and foster positive team and business partner relationships. </li><li>Show consistent ability to gather, organize, and present data in a meaningful way which helps management/faculty with decision making.</li><li>Provide pro-active budget variance and analysis to budget and clinical teams to assist with operational decisions. Supply support data to assist in the preparation of the clinical budget. Work to develop and supply analytics to assist the budget team. </li><li>Conduct deep dives comparing contracts to study activity to ensure all revenue due from sponsors is recognized.</li></ul><p>The employer reserves the right to change or assign other duties to this position.</p>
<p><strong>All required qualifications must be documented on application materials. </strong></p><p>Required Qualifications</p><ul><li>Bachelor's Degree in accounting and at least four years accounting experience; or an equivalent combination of accounting education and experience in an academic and/or research environment to equal 8 years.</li><li>Demonstrated advanced experience with Excel (including pivot tables and linked worksheets), Word, and Internet.</li><li>Experience with monthly reporting, forecasting and variance analysis.</li><li>Superior communication skills, written and verbal.</li><li>Demonstrated strong attention to detail. Able to work with detailed financial models in excel to track occurrence of subject visits and medical procedures to ensure accurate and complete revenue recognition.</li><li>Client service orientation. Demonstrated success in a team setting and demonstrated success in developing and maintaining strong working relationships with business partners.</li><li>Flexible, willing to take on a variety of assignments and projects. Demonstrated ability to adapt to a changing environment.</li><li>Demonstrated interest and ability to simplify and improve processes.</li><li>Demonstrated strong organizational skills, including the ability to meet deadlines.</li></ul><p>Preferred Qualifications</p><ul><li>Experience preparing clinical trial financial reports and tracking and reconciling clinical trial revenue and expenses.</li><li>Familiarity with clinical trial contracts.</li><li>Familiarity with the clinical trial budget development process.</li><li>Ability to read and interpret medical invoices. </li><li>Cost accounting education and/or experience.</li><li>Ability to manage multiple tasks, working both independently and as part of a team.</li><li>Creative problem-solving skills.</li><li>Experience with University financial systems: PeopleSoft EFS, OnCore, UM Reports, ART, TASCS.</li><li>Certified Financial Approver.</li></ul><p>*Please note that the University's financial systems require training and demonstrated proficiency before access will be granted to those systems.</p>
The University of Minnesota, founded in the belief that all people are enriched by understanding, is dedicated to the advancement of learning and the search for truth; to the sharing of this knowledge through education for a diverse community; and to the application of this knowledge to benefit the people of the state, the nation, and the world.