As a direct report to the Director, Revenue Recognition and Analytics, this leadership role has ownership and responsibility for the accuracy and integrity of the reported revenue and associated receivable reserves for a portion of the Company’s Diagnostic Information Services business. (Direct Revenue Recognition ownership of $1.2B - $2.5B) Additionally, this role is responsible to develop a process for, and maintain “Central Awareness and Control” for certain other Company Revenues and Receivable Reserves from the remaining businesses, which may include Risk Assessment, Clinical Trials, Products, Healthcare IT and International. (Revenue oversight range of $100M - $300M)
Ensure that appropriate revenue recognition and accounts receivable reserve policies are established and adhered to throughout Businesses that are their responsibility. Ensure an appropriate control environment that produces “no surprises”.
Manage quarterly reviews and annual audits for owned businesses with respect to: i) internal audit; ii) PWC (external auditors); iii) QDRI audits; and iv) SOX control assessments.
This leadership role has ownership and responsibility for ensuring the accuracy and integrity associated with the analysis, forecasting and budgeting of revenues related to the DIS businesses that fall under their responsibility. This role will be accountable for an organization that provides revenue analytics in support of the Company’s DIS Commercial and Clinical Franchise activities at various levels of the organization including Regional Operations, AmeriPath practices, and Esoteric Laboratory revenues, among others.
Serve as an effective Business Partner to: i) Commerical leadership; ii) Directors, Revenue Services iii) Executive and Regional Finance Directors of Commerical, Operations, Clinical Franchises, Pathology and Lab Professional Services, Sales Operations and Investor Relations and their teams, providing the historical analysis and insights in support of driving business performance.
Build and develop high performing teams of professionals through developing functional expertise within the group, providing challenging opportunities to gain additional knowledge of our business, and rotating team members.
Job Accountabilities (Responsibilities)
Lead the Company’s Revenue Recognition and Analytics function for certain DIS businesses with direct ownership and accountability for the accuracy and integrity of the reported revenue and accounts receivable reserves. Revenue Recognition and Accounts Receivable Reserve maintenance is one of the Company’s “significant accounting policies” as defined in the Company’s SEC filings, as it involves a high degree of judgment. This position ensures that the Company’s processes result in appropriate judgments, reached on a consistent basis to ensure the integrity of the reported financial statements. (Direct Revenue Recognition ownership $1.2B - $2.5B)
Develop a process for, and maintain “Central Awareness and Control” for other Company Revenues and Receivable Reserves from the remaining lines of business, which may include Risk Assessment, Clinical Trials, Products, Healthcare IT or International. (Oversight Revenue ownership $100M - $300M)
Ensure the adherence to appropriate revenue recognition and accounts receivable reserve policies for all owned businesses which are in conformity with GAAP. Collaborate with the Technical Accounting function in Corporate Finance to update or create new policies for new scenarios or changing rules.
Contribute to the Company’s Management Reporting to Senior Management (CFO, VP Controller) through contributions to the monthly “Accounts Receivable and Revenues Report”.
Ensure an appropriate accounting control environment that produces “no surprises”, tightly manages the internal control environment, meets the requirements of the Company’s Internal Control Assessment supporting requirements of Sarbanes-Oxley, ensure “clean” internal and external audit reviews, adherence to accounting policies and authorization practices, and overall integrity of the financial statements. Manage PWC relationship in support of quarterly reviews and annual audits, in terms of the flow of information and documentation from the Company supporting revenue recognition and the Company’s accounts receivable reserve position. Contribute to the Company’s establishment of a Revenue Analytics Center of Expertise with direct ownership and accountability for the analysis and explanation of significant trends, explaining monthly financial results, and the revenue and volume forecasting and budgeting process. Contribute to the development and implementation of plans to centralize the revenue analysis, forecasting and budgeting processes (people, processes, SOP’s, checklists, system configuration and tools) to support efficient and effective analytics, forecasting and budgeting. Collaboratively drive initiatives and recommend solutions targeted at cash maximization and reduction of bad debt expense. Serve as liaison between the Revenue Services and Finance functions. Develop a customer-service focused team of professionals that provide the highest level of service to its Business Partners across the organization, providing insightful analysis and support for driving business performance. Continually reassess customer needs in light of business / market dynamics, proactively identifying trends and working with Business Partners to adjust deliverables accordingly. Working with the Leaders in the areas of Finance, DIS Commercial and Clinical Franchise design the processes and tools that will enable the analysis, forecasting and budgeting of revenues at various levels of the organization (i.e. Regional views, local markets, etc…) Contribute to the design of business performance metrics and master data elements, including SOP’s that outline the source, governance and use of such metrics as it relates to revenues for areas supported. Serve as an effective Business Partner to: i) Commercial leadership; ii) Directors, Revenue Services iii) Executive and Regional Finance Directors of Commercial, Operations, Clinical Franchises, Pathology and Lab Professional Services, Sales Operations and Investor Relations and their teams, providing the historical analysis and insights in support of driving business performance. Integrate data from across various groups (Clinical Franchises, Pathology and Professional Lab Services, HealthPlans, Sales Operations, Government Affairs, Strategy, Pricing, Regional Finance) to construct an overall understanding of our Revenue Performance that delivers meaningful insights. Lead Revenue Analytics Reporting to supported Executive and Regional Leadership Teams (RFD, VP Commercial, VP Operations) through the production of an effective monthly “Revenue Analytics Report”. Lead, enhance and drive efficiency in weekly volume reporting. Perform revenue and receivable related due diligence reviews on potential acquisition targets. Ensure appropriate integration of revenue recognition and valuation as of Day+1 for acquisitions that fall within areas owned. Exemplify the New Behaviors. Through Collaboration and One Team behaviors, serve as an effective extension of the Regional Finance teams. Recognizing that this centralized team serves many business partners, be agile, customer focused and performance oriented. To the extent competing priorities are encountered, be transparent in communicating the prioritization and the underlying reasons.
Consistently hire, manage and develop top talent to build and develop high performing teams of professionals through developing functional expertise within the group, providing challenging opportunities to gain additional knowledge of our business, and rotating team members. Drive employee engagement, training, and development. Build appropriate bench strength. Maintain and consistently improve upon an effective onboarding process.
All other duties as assigned by the Director, Revenue Recognition and Analytics or Finance Directors supported.
Important Personal and Other Attributes:
Leadership:
Be recognized as a leader in the Company’s Finance function
Demonstrate tactical and strategic thinking leadership skills
Demonstrate the highest level of integrity
People Management:
Excellent people management skills
Motivate and develop staff
Influencing:
Challenge the status quo
Possess strong change management skills
Possess backbone, an ability to push back and hold ground
Continually raise the bar
Interpersonal:
Excellent communication skills (both verbal and written)
Presentation skills and ability (to highest level in organization)
Demonstrate a sense of urgency:
Possess an appropriate level of “fire in the belly”
Hands-on manager:
Strong PC skills
Attention to detail
Excellent follow-up ability
Process driven
Customer service focused