CTFS Finance Professional 3 (8223GR)

Manage all aspects of clinical trial accounting and reporting for a portfolio of studies. As the financial expert supporting investigators and clinical trial teams, prepare accurate and timely revenue and expense reports, identify and address any negative financial trends or concerns with study teams and respond to questions from department administrators, study teams and clinical trial sponsors in a timely manner. 

Responsibilities include:

Clinical trial reporting, accounting and analysis (70%)

• Ensure complete and accurate revenue recognition for assigned clinical trial studies. 
• Create monthly financial reports for sponsored projects showing clinical trial revenue and expenses on an accrual basis.
• Assist study teams in report interpretation and identify trends and possible solutions.
• Draft sponsor invoices, pay vendors and process salary cost transfers with each reporting cycle. 
• Reconcile sponsored payments to expected revenue.  
• Monitor accounts receivable.
• Explain budget to actual variances and changes from prior period.  
• Ensure compliance with administrative policies and procedures as well as state and federal regulations.
• Thoroughly understand and interpret financials for simple to complex clinical trial studies.  
• Develop/maintain positive, client-service oriented working relationships with the Clinical Trial Financial Services Team (CTFS), study teams, department administrators and external business partners. 
• Provide financial analysis support to the clinical study team.  
• Process journal entries as needed.
• Interpret contract amendments and adjust financial reporting to accommodate changes.

Contribute to the development of continuous process improvement within the department (15%)

• Improve financial reporting models and processes resulting in greater reporting speed, consistency and accuracy.   
• Improve training and documentation and train newer team members.
• Improve processes for monitoring accounts receivable.
• Learn U of MN reporting systems to improve internal reporting.

Complete other accounting and financial projects as assigned (15%)

• Support clinical trial study closeout.
• Process semiannual F&A distributions.
• Create monthly reports and templates as needed.
• Approve transactions.

The employer reserves the right to change or assign other duties to this position.

All required qualifications must be documented on application materials.

Required Qualifications

• Bachelor's degree in accounting or business administration and at least four years accounting experience; or an equivalent combination of accounting education and professional accounting experience to total eight (8) years. 
• Advanced Excel skills (including pivot tables and linked worksheets).
• Demonstrated experience communicating clearly and effectively both verbally and in writing.
• Strong attention to detail. 
• Able to work with detailed excel spreadsheets to track occurrence of subject visits and medical procedures resulting in accurate revenue recognition.
• Customer service orientation â“ develops successful partnerships with investigators, study teams and internal and external partners. Must be collaborative and willing to address and solve issues in a respectful manner.
• Flexible, willing to take on a variety of assignments and projects.
• Able to adapt to a changing environment.
• Demonstrated interest and ability to simplify and improve processes.
• Professionalism and time management - uses time wisely to accomplish work.
• Highly organized and able to prioritize work. Able to meet monthly reporting and accounting deadlines.

Preferred Qualifications

• Reconciliation and monthly reporting experience.  
• Familiarity with sponsored program accounting, clinical trial administration and/or clinical trial finances.
• Ability to read and interpret medical invoices.  
• Ability to manage multiple tasks, working both independently and as part of a team. 
• Experience with University financial systems including PeopleSoft (Electronic Financial System/Human Resource Management System) and OnCore (a Clinical Trials Management system).
• Knowledge of University policies and procedures.
• Self-starter, able to work independently and in a team environment that requires flexibility and problem solving skills.
• U of MN Certified Financial Approver or willingness to obtain Certified Financial Approver status within one year of employment.

*Training and demonstrated proficiency required for access to University financial, payroll and human resource systems.

About University of Minnesota Twin Cities

The University of Minnesota, founded in the belief that all people are enriched by understanding, is dedicated to the advancement of learning and the search for truth; to the sharing of this knowledge through education for a diverse community; and to the application of this knowledge to benefit the people of the state, the nation, and the world.

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