Precision Medicine Group ("Precision") is a high-growth and established life sciences innovator, founded in 2012 and still led by a proven entrepreneurial team and backed by leading private equity investors (Blackstone, TPG, Berkshire Partners). The Company helps pharmaceutical, and life-sciences clients address product development and commercialization challenges while creating access to better care for patients around the world. Precision is comprised of two business platforms, Precision for Medicine and Precision Value & Health ("PVH"). Precision for Medicine focuses on research and development initiatives and primarily services emerging to mid-size innovative biotechnology firms. Precision Value & Health provides solutions to maximize the commercial potential of innovative therapeutics for larger biopharma firms as well as emerging biotech companies. Precision Medicine Group is a team of over 3,000 employees across 35 offices and laboratories world-wide.
The Role
Precision Value & Health (PVH) is currently over 1,300 employees and growing rapidly. The business is organized into three service lines:
Evidence Solutions:consulting and advisory services to develop the evidence needed to demonstrate commercial value of new therapeutic treatments
Data Sciences:technology-enabled and data analytical solutions for life science companies to develop, plan, and execute targeted engagement programs
Engagement Solutions:communication services for translating evidence into benefits for healthcare providers, patients, payers and investors
This role will report to the Director of Accounting and will be responsible for the accounting policies, procedures and controls associated with revenue across PVH. The successful candidate will be a hands-on, self-motivated technical accountant with knowledge of US GAAP (ASC 606) and experience with the revenue and receivables accounting process.
Key responsibilities
Accounting Operations
Handle more complex accounting transactions related to revenue including analyzing revenue data, identifying trends and adjustments, and providing insights.
Review revenue recognition processes to guarantee consistent application of revenue recognition policies in line with US GAAP or other relevant standards.
Review customer contracts to ensure the project set up procedures correctly apply revenue recognition methodology in line with US GAAP or other relevant accounting standards.
Collaborate with cross functional teams to ensure accurate financial results for all revenue related income statement and balance sheet accounts.
Complete the revenue month end close processes ensuring financial transactions and records comply with US GAAP/company policies and all revenue income statement and balance sheet account reconciliations are completed.
Become proficient with Precision's ERP system.
Contribute to process improvements in company order-to-cash and revenue recognition activities to enhance accounting/finance operational efficiency.
Utilize existing systems (e.g., Infor, Salesforce) for revenue recognition.
Support existing policies and guidelines around processes that will allow for transparency, efficiency, and scalability of PVH.
Support enhancements to financial processes related to revenue and receivables, aiming for increased efficiency and scalability.
Support integration of new acquisitions related to order-to-cash and revenue recognition processes, aligning their processes with Precision's established practices.
Compliance, Audit, & Risk Assessment
Assist with technical accounting research related to revenue recognition and documentation efforts as required.
Assist with data gathering and implementation of US GAAP standards to be adopted with respect to revenue recognition.
Manage the internal and external audit requests related to order-to-cash and revenue recognition processes providing necessary documentation and support.
Support internal controls to safeguard the company's assets and prevent fraud including ability to implement 404 in the future.
Team Leadership
Act as a resource for the Client Finance team, offering training on processes that directly affect revenue recognition, such as monthly journal entries and reconciliations.
Contribute to the culture of collaboration, innovation, and accountability within the accounting function.
Stakeholder Communication & Collaboration
Create and deliver financial reports and presentations to internal stakeholders.
Collaborate with Client Finance and FP&A teams on revenue recognition, forecasting and reporting.
Assist in revenue-related decisions by analyzing financial data and trends.
Assist with special projects or company initiatives as necessary.
Ideal Experience:
3+ years of professional experience in finance roles, including meaningful experience in revenue recognition.
Bachelor's degree in finance, accounting, or a related field with emphasis in accounting
Certified Public Accountant, or equivalent professional certification, is preferred.
Experience working for a Big 4 accounting firm is preferred.
Comprehensive knowledge of US GAAP, financial regulations, and accounting best practices
Experience with and understanding/application of US GAAP.
International revenue accounting standards experience is a plus.
Strong knowledge of finance processes, systems, and internal controls
Understanding of financial regulations, compliance, and risk management.
Other
Innovative thinker with a proactive approach to problem-solving and process improvement.
Communicate in a clear, concise manner.
Contribute to the environment of openness and teamwork.
High energy and commitment, willing to take a hands-on approach to ensure all deliverables meet Precision's standards of excellence.
A willingness to work, build trust, and earn respect as a team player.
Strong organizational abilities and adept at managing multiple priorities and tasks simultaneously.
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