Sr Financial Analyst at Labcorp

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Sr Financial Analyst

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Location Raritan, New Jersey Job ID 21-96443

Laboratory Corporation of America Holdings (NYSE:LH), an S&P 500 company is a leading life sciences company, providing comprehensive clinical laboratory and end-to-end drug development services. With a mission to improve health and improve lives, LabCorp delivers world-class diagnostics solutions, brings innovative medicines to patients faster and uses technology to provide better care. With net revenue in excess of $10 billion, LabCorp's 61,000 employees serve clients in 60 countries.

LabCorp is seeking a Sr Financial Analyst to join a dynamic team in Raritan, NJ. 

The Northeast division seeks a strong financial analyst to work as an integral part of both the Finance and Hospital Health System teams. Key responsibilities include pro forma development for supply chain opportunities with hospital and physician-owned laboratories, reporting and analyzing monthly P&L results for existing deals, and preparing monthly customer invoices.
  • Reports to the VP Finance -- Northeast Division with dotted lines to the VP Hospitals and Health Systems -- Northeast Division and the Diagnostics Controller for Hospitals and Health Systems.
  • Work location: Raritan NJ
    • Travel: minimal within the Northeast geography from Maine to Delaware to Eastern PA.
Job Duties/Responsibilities:
  • Participate in the analysis, development, and execution of hospital-based technical services partnerships: develop cost expectations and pricing proposals based on analysis of hospital lab operations and capital equipment requirements; perform monthly billing of executed contracts and regular AR reviews, ensure contractual requirements are met including annual price increases, assist in budget and forecast of existing and pending deals, analyze and explain actual results vs budget, assist with contract amendments, etc.
  • Produce monthly profitability statements for each hospital contract and perform variance analysis of actual versus expected results.
  • Assist the Hospital Alliance team in maintaining appropriate financial performance in relation to pro forma and budgeted expectations.
  • Participate in the presentation of capital equipment requests to the Corporate Capital Committee.
  • Manage and organize large sets of data to produce test-level usage reports for initial pricing development and post-implementation invoicing of hospital contracts.
  • Analyze lab data to determine the current spend and assess the operations and cost structure of a hospital laboratory.
  • Assist the Northeast Finance team with special projects, monthly report generation, client profitability analysis, and various ad hoc analysis.

Requirements

  • Associate/Bachelor's degree required; MBA and concentration in Accounting or Finance is preferred. 
  • Minimum 5-7 years of experience in a financial analyst related position.
  • Clinical or hospital laboratory experience preferred, but willing to train a strong candidate.
  • Ideal candidate will possess an understanding of laboratory operations and cost structure related to testing methodologies, reagents, equipment, supplies, and consumables.
  • Basic understanding of testing, validations, controls, repeats, etc.
  • Basic understanding of profit and loss statement.
  • Proficient in Microsoft Office, especially Excel and/or Access.
  • Strong communication skills; both written and verbal.
  • Ability to work independently or in a team environment.
  • Comfortable working under minimal supervision.

Shift

1

Schedule

Regular hours are M-F 8am to 5pm with 1 hour lunch but the expectation is that the role gets their work completed within defined deadlines and works outside of the regular hours as needed.
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