Senior Financial Analyst

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 114,000 colleagues serve people in more than 160 countries.

     

JOB DESCRIPTION:

Working at Abbott

• At Abbott, you can do work that matters, grow, and learn, care for yourself and family, be your true self and live a full life. You’ll also have access to:
• Career development with an international company where you can grow the career you dream of.
• Employees can qualify for free medical coverage in our Health Investment Plan (HIP) PPO medical plan in the next calendar year.
• An excellent retirement savings plan with high employer contribution
• Tuition reimbursement, the Freedom 2 Save student debt program and FreeU education benefit - an affordable and convenient path to getting a bachelor’s degree.
• A company recognized as a great place to work in dozens of countries around the world and named one of the most admired companies in the world by Fortune.
• A company that is recognized as one of the best big companies to work for as well as a best place to work for diversity, working mothers, female executives, and scientists.

The Opportunity

This position works out of our Abbott Park, IL location for the IFO International Finance division.   

The Senior Analyst of International Deferred Margin is part of the Corporate Financial Services organization.  The Deferred Margin group has the functional responsibility for the analytical support required across all reporting organizations of the Abbott Diagnostics Divisions (ADD, AMD, and APOC) as well as Abbott Diabetes Care.  This group manages the elimination and release of roughly $2 Billion of Inter-company Income on an annual basis to ensure that the financial statements reflect the true consolidated cost to Abbott as opposed to the legal cost used in tax reporting.  Inter-company margin reporting brings a new set of dimensions/complexities that need to be properly defined, understood, and articulated to the organizations that it supports.

What You’ll Work On

• Record the deferral and release of Inter-company Margin on the Balance Sheet and Income Statement to ensure that Abbott reports proper consolidated financials.
• Maintain the inventory (FMS) and fixed assets (SEAS/NAS) deferred margin sub-ledgers and reconcile them back to the related Hyperion Financial Management (HFM) reporting system balances.
• Support One margin project
• Analyze account reconciliations, develop recommendations to clear reconciling items, and implement solutions.  
• Provide active and continuous support of the margin financial impact for Total Diagnostics/ADC affiliates.  Provides ad hoc analysis to support Commercial Areas and Global Supply Chain organizations. Proposes final recommendations to client. Recognizes the financial implications of all management decisions.
• Update or author new reconciliation/close processes for any changes in reporting requirements.
• Prepare non-rule based margin journal entries in Hyperion Financial Management (HFM).
• Annual tasks include supporting the margin global inventory Standard Revision Variance calculations due to changes in Transfer Price and Manufacturing Cost
• Influences and provides guidance for decision making within the team, management, and or functional groups while using sound reasoning to effectively persuade.
• Anticipates project issues; understands the implications and interrelationships of those issues to the client and other areas.
• Maintains leadership role in face of conflicts or barriers. Interfaces, coordinates, and presents to all levels of management and across organizational teams. Analyzes and Interprets Data; Recommends Options: Integrates multiple approaches to analyze data and procedures taking into account business considerations; develops recommendations and implements solutions.
• Take ownership of processes to the point where issues can be proactively dealt with through mitigation or process improvement. Due to the dynamic nature of the inter-company structure and billing flows process improvements are frequently required to adapt existing processes to the new environment.

Required Qualifications