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The Investigator Financial Analyst is expected to establish him/herself as a “co-pilot”, along with the Project Leader (PL) and Finance Business Partner (FBP), in steering the investigator budget management for a set of projects. As such, the IFA acquires an understanding of the investigator budget economic drivers. He/she assists in translating the clinical conduct into a financial impact and proactively advising the PL & FBP on how to influence critical budget and cash flow levers in order to prevent negative impact project financials. The IFA is the "go-to" person for broader Investigator Payment understanding or insight into defined projects. He/She interacts directly with project leads to help set payment strategy, analyzing and reconciling the investigator records, identifying trends, developing recommendations and guiding future decisions on the basis of their impact on project financials and customer satisfaction. The main success factors of this role include strong business acumen, strong grasp of investigator payment and project operations and their implications for financial performance, and strong technical, analytical and consulting skills. Investigator Financial analysists are expected to build business relationships across all areas of the organization, drive tactical investigator payment decisions, and become a trusted advisor to project teams (including clients).
Job Responsibility:
Leads the monthly investigator payment forecast cycle and supports project analysis requirements, including a review of accruals, costs incurred, contracts signed, and patients enrolled
Meet with clients, clinical team members, and other members of the organization to gather information and/or explain the financial impact of the observed clinical conduct
Ensure appropriate supporting documentation is available and that the forecast is aligned with operational plans. Complete all required variance analyses for the set of projects, with insight. Identify risks in the project forecast and to the budget. Communicate, document and manage these on an ongoing message. Understand alternative finance scenarios within a project with a degree of technical knowledge and business acumen
Actively monitor the balance sheet positions of investigator budgets for projects within the portfolio. Initiate action as needed with project teams to keep balances current, improving DSO and cash flow
Play a key role in initiating, building, and reviewing change in scope activity on assigned projects. Work with the project teams on an appropriate budget for the scope of work. Maintain/update simpler project budgets within relevant tools from post-award onwards including analysis and understanding on any subsequent changes in scope
Create accurate, transparent, and timely financial analysis to support project teams in project decision making process
clearly articulate financial implications of business decisions / choices, and provide retrospective analysis as well as drive forward looking actions on simpler projects / contract types
Provide updates on financial status of investigator payments for assigned projects and create information in response to any client financial reporting needs for assigned projects in the area of project reporting, forecasting, or transactional details for the projects within the portfolio
Maintains project accrual data of investigator payments (Accrued liability)
Provides investigator reconciliation upon database lock and intermittent reconciliations as needed (Left to pay)
Works with the Investigator Payments Organization to troubleshoot any budget, accrual, reporting, forecasting, or payments issues arising on the project
Requirements:
Min 2 years of industry experience
Experience in providing outstanding customer service
Experience performing financial reconciliations
Experience in a clinical research environment
Master's in finance / Post Graduation in Commerce/Finance
Good interpersonal, oral and written communication skills, ability to work with a virtual team across locations and cultures
Strong customer focus, ability to interact professionally within a client organization
Ability to manage multiple and varied tasks with enthusiasm, prioritize workload
Proficient in use of web based IT systems and MS Excel, PowerPoint, and Word
Effective time management in order to meet daily metrics or team objectives
Commitment to high quality work and respective consistent performance
Enlist the support of team members in meeting goals
What we offer:
Benefits vary by country, but Parexel is passionate about our team’s overall wellness
We believe that investing in your professional and personal development is an investment in Parexel, and we want to help you realize your full potential and career