Principal Financial Analyst

Inovalon was founded in 1998 on the belief that technology, and data specifically, would empower the transformation of the entire healthcare ecosystem for the better, improving both outcomes and economics. At Inovalon, we believe that when our customers are successful in their missions, healthcare improves. Therefore, we focus on empowering them with data-driven solutions. And the momentum is building.

Together, as ONE Inovalon, we are a united force delivering solutions that address healthcare’s greatest needs. Through our mission-based culture of inclusion and innovation, our organization brings value not just to our customers, but to the millions of patients and members they serve.

Location:  This position is a hybrid role based out of our Bowie, MD office. The current expectation is that we are in office two days each week (between Mon-Wed), with extra additional days as required during the month.

Overview:  The Principal Financial Analyst supports the monthly close process and forecast cycles to deliver timely, accurate, and meaningful financial results.  This role will analyze key business trends, actual versus plan variances and produce ad hoc financial and operational models to support accounting processes and management in decision making.  This position will prepare accounting entries, complete account reconciliations, build models, and perform various analyses, reporting, modeling and forecasting initiatives providing data for business, strategic and operations decision making.

Duties and Responsibilities:

• Assist in the preparation of financial information for monthly, quarterly, and annual closing procedures and financial reporting requirements;
• Prepare accounting documentation, financial schedules, journal entries, reconciliations, and analytical analyses related to revenue, expense, and other accounts as needed;
• Work collaboratively in preparing and presenting monthly reporting packages that include analysis of key business trends and actual versus plan variances, including comprehensive explanations of differences;
• Work closely with internal business stakeholders and leaders to drive financial performance visibility across multiple business operations and perform cyclical forecasting, annual budgeting, and financial reporting;
• Conduct technical accounting research for revenue recognition and non-standard transactions, develop conclusions, and formally document results;
• Own processes and ensure compliance with policies and procedures and maintain compliance with a system of internal controls;
• Develop, build, and produce models to enable accounting processes, forecast predictability and drive performance of results;
• Collect, compile, verify, and analyze financial information so that senior management has accurate and timely information for making strategic and operational decisions;
• Partner and communicate with various levels throughout the organization and external parties, as necessary, to obtain information and/or resolve issues for assigned tasks, accounts and/or legal entities;
• Continually improve and enhance financial processes to streamline, increase accuracy, and enhance business impact;
• Maintain compliance with Inovalon’s policies, procedures and mission statement;
• Adhere to all confidentiality and HIPAA requirements as outlined within Inovalon’s Operating Policies and Procedures in all ways and at all times with respect to any aspect of the data handled or services rendered in the undertaking of the position; and
• Fulfill those responsibilities and/or duties that may be reasonably provided by Inovalon for the purpose of achieving operational and financial success of the Employer.

Job Requirements:

• Minimum of 7 years' experience in accounting and finance, including working knowledge of revenue recognition and accounting issues related to core responsibilities;
• Minimum of 7 years of experience with analysis, reporting, and financial data modeling;
• Experienced knowledge of Excel, PowerPoint, data analysis, and financial modeling;
• Experience in public accounting and/or publicly traded companies preferred;
• Strong interpersonal skills, effective oral and written communication skills;
• Exceptional analytical, problem-solving, organizational savvy, and strong initiative and the ability to manage multiple tasks and meet deadlines;
• Demonstrated ability to work effectively with others within a complex, fast paced organization;
• Demonstrated knowledge of GAAP; and
• Experience with Oracle EBS and Microsoft Dynamics Great Plains a plus.

Education:

• Bachelor’s degree in Finance, Accounting, or related field and or equivalent work experience;