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At Parexel, we all share the same goal - to improve the world's health. From clinical trials to regulatory, consulting, and market access, every clinical development solution we provide is underpinned by something special - a deep conviction in what we do.
Each of us, no matter what we do at Parexel, contributes to the development of a therapy that ultimately will benefit a patient. We take our work personally, we do it with empathy and we're committed to making a difference.
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).
Key Accountabilities:
- 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.
Skills:
- 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
Knowledge and Experience:
- Min 2 years of industry experience.
- Experience in providing outstanding customer service.
- Experience performing financial reconciliations
- Experience in a clinical research environment
Education:
- Master's in finance / Post Graduation in Commerce/Finance
