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Principal Financial Analyst

FridleyMedtronic



Careers that Change Lives:

Provides manual revenue adjustment and forecasting support for U.S. Sales Finance teams, identifying business issues and providing leadership in the decision-making process.

Duties and Responsibilities: Calculate and manage revenue reserves (Rebates, Sales Administration Fees, and Right of Return accruals) for CVG and portions of RTG. Provide AOP and Forecast support and financial reporting to U.S. Business Units for manual revenue adjustments. Conduct and document accounting activities in accordance with corporate account policies (GAAP), including compliance with all internal control policies and procedures. Conduct on-going analysis of actual results compared to plan. Manage the pan-MDT revenue reporting process.




A Day in the Life:

  • Calculate and manage revenue-related accruals for the CVG, legacy-Neuromodulation, and legacy-Surgical Technologies businesses, including Rebates, Sales Administration Fees, the Right of Return, Pricing Adjustments, Special Credits, and Cash Discounts. Develop, recommend, and implement changes to processes and controls to increase efficiency, accuracy, and insight.
  • Develop a thorough understanding of non-regional revenue to provide management and BU partners with accurate forecasts. Design, implement, and maintain forecast and planning tools as dictated by business needs. Ensure proper training and instructions on forecasting activities and general revenue recognition are provided to business partners. Provide periodic (quarterly, monthly, bi-weekly) forecast updates to facilitate quarterly revenue forecasting and planning.
  • Consolidate and report on quarterly reserve balances and P&L results, including key fluctuations and trends, to BU partners, Americas Region leadership, Corporate Controllership, and External Reporting. Execute quarterly and annual reporting (including reserve roll-forward schedules, rebate and return trends, revenue analytics, etc.) for External Auditors and External Reporting in support of audit procedures and public filings.
  • Lead the consolidation and reporting of pan-MDT revenue trends in support of Strategic Alliance initiatives and other ad-hoc requests.
  • Ensure internal controls are functional and processes are completed as documented in accordance with corporate policies. This includes preparing account reconciliations and the quarterly Revenue Accrual Adjustments memo.
  • Collaborate with functional groups and BU Sales Finance and Controllership teams to understand key initiatives and the overall impact to Medtronic. Use knowledge of Revenue Recognition principles (GAAP) to identify potential issues, promptly notify both functional and financial management when financial goals are in jeopardy, and bring forth innovative recommendations to complex issues. Build a solid working relationship with business partners, gaining their trust to deal with difficult and confidential situations and information.
  • Contribute to (and sometimes lead) cross-functional teams. Requires working with contacts inside and outside of Finance to ensure the required accounting is recorded properly and timely. Current projects include the development of a new reserve process for key rebate programs and adoption of ASC 606 (variable consideration for revenue recognition).


Must Have - Minimum Requirements:

Education Required:

  • Bachelor's Degree in Accounting or Finance


Years of Experience:

  • 7+ years of Finance or Accounting experience with a Bachelor's Degree in Accounting or Finance; or, 5+ years of Finance or Accounting experience with a Master's Degree


Specialized Knowledge/Skills Required:

  • MS Excel


Nice to Have:

  • Working knowledge of MDT financial systems (SAP, Hyperion, BOXI, BW) highly preferred.
  • MBA/CPA strongly preferred.
  • Understanding of accounting literature, including accounting standards and other authoritative guidance, and the ability to apply accounting principles and policies to ensure compliance with all applicable standards.
  • Sound analytical skills; ability to manipulate and interpret data.
  • Strong verbal and written communication skills.
  • Solid business acumen.
  • Ability to be objective and provide clarity around business performance.
  • Must be able to handle multiple tasks/projects and manage priorities accordingly.
  • Eagerness to learn and expand responsibilities.


Physical Requirements:

  • The physical demands described within the Responsibilities section of this job description are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
  • While performing the duties of this job, the employee is regularly required to be independently mobile. The employee is also required to interact with a computer, and communicate with peers and co-workers.
  • A maximum of 5% travel.


ABOUT MEDTRONIC:

Together, we can change healthcare worldwide. At Medtronic, we push the limits of what technology can do to help alleviate pain, restore health and extend life. We challenge ourselves and each other to make tomorrow better than yesterday. It is what makes this an exciting and rewarding place to be.

We can accelerate and advance our ability to create meaningful innovations - but we will only succeed with the right people on our team. Let's work together to address universal healthcare needs and improve patients' lives. Help us shape the future.

EEO:

It is the policy of Medtronic to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, Medtronic will provide reasonable accommodations for qualified individuals with disabilities.

This employer participates in the federal E-Verify program to confirm the identity and employment authorization of all newly hired employees. For further information about the E-Verify program, please click here: http://www.uscis.gov/e-verify/employees

The above statements are intended to describe the general nature and level of work being performed by employees assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of employees assigned to this position.

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