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Posted : Wednesday, March 20, 2024 01:52 AM
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 115,000 colleagues serve people in more than 160 countries.
About Abbott Abbott is a global healthcare leader, creating breakthrough science to improve people’s health.
We’re always looking towards the future, anticipating changes in medical science and technology.
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 .
Free medical coverage for employees* via the Health Investment Plan (HIP) PPO 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 (Lake County) location in the CFS Corporate Financial Services division.
The Senior Analyst of International Deferred Margin is part of the Corporate Financial Services (CFS) organization.
The primary objectives of Deferred Margin team are the accurate accounting, planning and forecasting of intercompany profit to support ANI\EPD\AVD performance and entity accounting, as well as the development and distribution of sales related data throughout the ANI\EPD\AVD organization This group manages the elimination and release of roughly $2 Billion of intercompany profit annually to ensure that the financial statements reflect the true consolidated cost to Abbott as opposed to the legal cost used in tax reporting.
Deferred margin reporting brings a new set of dimensions/complexities that need to be properly defined, understood, and articulated to the organizations that it supports.
The primary responsibilities of this position include: Business Owner of 2 Corporate systems for ANI/EPD/AVD: Centralized Cost System (CCS) and Roll Up Roll Down (RURD) CCS – System repository for manufacturing/purchase costs for ANI and EPD products Oversee all activities related to the Centralized Cost System (CCS) as the business owner – Communication with cost data owners (approximately 50 manufacturing locations for ANI & EPD) and downstream systems, run point on issues or testing with IT team, control availability of Actual and Plan scenarios, and run reports Coordinate cost submissions for Actuals and Plans – Support users on training and troubleshoot issues, set calendar for various cycles, ensure data fed properly to Deferred Margin systems RURD – Centralized Deferred Margin Inventory recon tool for ANI and EPD distribution centers and international affiliates Oversee all activities related to the Roll Up Roll Down (RURD) as the business owner – Communication with Deferred Margin teammates and feeder systems, run point on issues or testing with IT team, and run tie out reports with various systems Set calendar for 3 cycles of Deferred Margin Inventory reconciliations, support Deferred Margin team users with advanced inventory reconciliation issues, system maintains >100 international Deferred Margin inventory balances tied out to HFM Hyperion Financial Management (HFM) Journal Entries for Deferred Margin Record the deferral and release of Deferred Margin on the Balance Sheet ($.
5Billion) and Income Statement ($2Billion) to ensure that Abbott reports proper consolidated financials Prepare margin journal entries in Hyperion Financial Management (HFM) for Exchange, P&L adjustments, Balance Sheet activity, Standards Revision Variance (SRV), exchange scenarios @Plan and @Prior Year, as well as ad hoc entries Implement changes to journal entries and processes for new One Margin project 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 intercompany structure and billing flows, process improvements are frequently required to adapt existing processes to the new environment Provide active and continuous support of the margin financial impact for ANI and EPD, ad hoc analysis to support Commercial Areas and Global Supply Chain organizations, and recognize the financial impact of decisions Balance Sheet Review & Reconciliations Analyze complex Deferred Margin inventory account reconciliations - develop recommendations to clear reconciling items, and implement solutions Monitor the annual and mid-year inventory Standard Revision Variance calculations due to changes in Transfer Price and Manufacturing Cost, resolve differences with international affiliates Influence and provide guidance for decision making within the team, management, and or functional groups for system, process, or data issues Populate and troubleshoot Deferred Margin schedules for Corporate Tax Support Deferred Margin data with external auditors Educational/Experience Requirements: Minimum of a Bachelor’s degree in Finance or Accounting 3+ years experience in general or international accounting Interested to work in an Accounting/Finance role supporting several divisions and international affiliates Skills Required to Excel in Role: Quantitative, analytical, and problem solving skills Organize and prioritize in a fast-paced work environment Partner with persons contacted in the course of performing the assigned duties Excellent verbal and written communication skills Expected Technical Skills: High proficiency in Microsoft Excel including creating/maintaining Pivot Tables and formula writing (ie VLOOKUP, SUMIFS, and ability to write conditional IF or IFERROR statements) Ability to summarize/analyze large data sets with the aid of Microsoft Access or Microsoft Excel or Power Query Proficiency in the financial reporting tool Hyperion Financial Management's (HFM) and its Smart View Excel Add-in * Participants who complete a short wellness assessment qualify for FREE coverage in our HIP PPO medical plan.
Free coverage applies in the next calendar year.
Learn more about our health and wellness benefits, which provide the security to help you and your family live full lives: www.
abbottbenefits.
com Follow your career aspirations to Abbott for diverse opportunities with a company that can help you build your future and live your best life.
Abbott is an Equal Opportunity Employer, committed to employee diversity.
Connect with us at www.
abbott.
com, on Facebook at www.
facebook.
com/Abbott and on Twitter @AbbottNews and @AbbottGlobal.
The base pay for this position is $71,300.
00 – $142,700.
00.
In specific locations, the pay range may vary from the range posted.
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 115,000 colleagues serve people in more than 160 countries.
About Abbott Abbott is a global healthcare leader, creating breakthrough science to improve people’s health.
We’re always looking towards the future, anticipating changes in medical science and technology.
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 .
Free medical coverage for employees* via the Health Investment Plan (HIP) PPO 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 (Lake County) location in the CFS Corporate Financial Services division.
The Senior Analyst of International Deferred Margin is part of the Corporate Financial Services (CFS) organization.
The primary objectives of Deferred Margin team are the accurate accounting, planning and forecasting of intercompany profit to support ANI\EPD\AVD performance and entity accounting, as well as the development and distribution of sales related data throughout the ANI\EPD\AVD organization This group manages the elimination and release of roughly $2 Billion of intercompany profit annually to ensure that the financial statements reflect the true consolidated cost to Abbott as opposed to the legal cost used in tax reporting.
Deferred margin reporting brings a new set of dimensions/complexities that need to be properly defined, understood, and articulated to the organizations that it supports.
The primary responsibilities of this position include: Business Owner of 2 Corporate systems for ANI/EPD/AVD: Centralized Cost System (CCS) and Roll Up Roll Down (RURD) CCS – System repository for manufacturing/purchase costs for ANI and EPD products Oversee all activities related to the Centralized Cost System (CCS) as the business owner – Communication with cost data owners (approximately 50 manufacturing locations for ANI & EPD) and downstream systems, run point on issues or testing with IT team, control availability of Actual and Plan scenarios, and run reports Coordinate cost submissions for Actuals and Plans – Support users on training and troubleshoot issues, set calendar for various cycles, ensure data fed properly to Deferred Margin systems RURD – Centralized Deferred Margin Inventory recon tool for ANI and EPD distribution centers and international affiliates Oversee all activities related to the Roll Up Roll Down (RURD) as the business owner – Communication with Deferred Margin teammates and feeder systems, run point on issues or testing with IT team, and run tie out reports with various systems Set calendar for 3 cycles of Deferred Margin Inventory reconciliations, support Deferred Margin team users with advanced inventory reconciliation issues, system maintains >100 international Deferred Margin inventory balances tied out to HFM Hyperion Financial Management (HFM) Journal Entries for Deferred Margin Record the deferral and release of Deferred Margin on the Balance Sheet ($.
5Billion) and Income Statement ($2Billion) to ensure that Abbott reports proper consolidated financials Prepare margin journal entries in Hyperion Financial Management (HFM) for Exchange, P&L adjustments, Balance Sheet activity, Standards Revision Variance (SRV), exchange scenarios @Plan and @Prior Year, as well as ad hoc entries Implement changes to journal entries and processes for new One Margin project 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 intercompany structure and billing flows, process improvements are frequently required to adapt existing processes to the new environment Provide active and continuous support of the margin financial impact for ANI and EPD, ad hoc analysis to support Commercial Areas and Global Supply Chain organizations, and recognize the financial impact of decisions Balance Sheet Review & Reconciliations Analyze complex Deferred Margin inventory account reconciliations - develop recommendations to clear reconciling items, and implement solutions Monitor the annual and mid-year inventory Standard Revision Variance calculations due to changes in Transfer Price and Manufacturing Cost, resolve differences with international affiliates Influence and provide guidance for decision making within the team, management, and or functional groups for system, process, or data issues Populate and troubleshoot Deferred Margin schedules for Corporate Tax Support Deferred Margin data with external auditors Educational/Experience Requirements: Minimum of a Bachelor’s degree in Finance or Accounting 3+ years experience in general or international accounting Interested to work in an Accounting/Finance role supporting several divisions and international affiliates Skills Required to Excel in Role: Quantitative, analytical, and problem solving skills Organize and prioritize in a fast-paced work environment Partner with persons contacted in the course of performing the assigned duties Excellent verbal and written communication skills Expected Technical Skills: High proficiency in Microsoft Excel including creating/maintaining Pivot Tables and formula writing (ie VLOOKUP, SUMIFS, and ability to write conditional IF or IFERROR statements) Ability to summarize/analyze large data sets with the aid of Microsoft Access or Microsoft Excel or Power Query Proficiency in the financial reporting tool Hyperion Financial Management's (HFM) and its Smart View Excel Add-in * Participants who complete a short wellness assessment qualify for FREE coverage in our HIP PPO medical plan.
Free coverage applies in the next calendar year.
Learn more about our health and wellness benefits, which provide the security to help you and your family live full lives: www.
abbottbenefits.
com Follow your career aspirations to Abbott for diverse opportunities with a company that can help you build your future and live your best life.
Abbott is an Equal Opportunity Employer, committed to employee diversity.
Connect with us at www.
abbott.
com, on Facebook at www.
facebook.
com/Abbott and on Twitter @AbbottNews and @AbbottGlobal.
The base pay for this position is $71,300.
00 – $142,700.
00.
In specific locations, the pay range may vary from the range posted.
• Phone : NA
• Location : Abbott Park, IL
• Post ID: 9005460558
