CTFS Finance Professional 3

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 - 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.

The Clinical and Translational Science Institute (CTSI) CTSI's vision is to improve the health of Minnesotans through clinical translational science (CTS) research by creating an infrastructure and environment that transforms the relationships among the University of Minnesota, the community, and the state; forging a true partnership to facilitate CTS discovery, translation, and knowledge dissemination; training and rewarding interdisciplinary teams to meet community and University needs; creating relevant, distance-accessible educational programming; and identifying changing community needs and ultimate impact on people's health. For more information, visit http://www.ctsi.umn.edu.

Program/Unit Description

The Clinical Trials Financial Services team (CTFS) supports clinical trials by providing staff skilled in understanding and negotiating contracts, as well as providing financial management and oversight of clinical trials.

Our experienced finance professionals work closely with Principal Investigators and clinical trial teams to develop accurate clinical trial budgets, negotiate fiscally sound contracts, and provide financial management throughout the life of the trial.

From initial negotiations to eventual close-out, our dedicated team negotiates, analyzes, recommends, and regularly reviews the financial components of a clinical trial. This enables the principal investigator and study team to respond to issues in a timely manner, often preventing cost overruns.

Clinical Trials Financial Services supports all clinical trials regardless of funding source. This includes studies funded by the University of Minnesota, federal or state agencies, nonprofits, and business and industry.

Pay Range: $70k-$80k; depending on education/qualifications/experience

Time Appointment Category: 100% Appointment

Position Type: Civil-Service

Please visit the Office of Human Resources website for more information regarding benefit eligibility.

The University offers a comprehensive benefits package that includes:

• Competitive wages, paid holidays, and generous time off
• Continuous learning opportunities through professional training and degree-seeking programs supported by the Regents Tuition Benefit Program
• Low-cost medical, dental, and pharmacy plans
• Healthcare and dependent care flexible spending accounts
• University HSA contributions
• Disability and employer-paid life insurance
• Employee wellbeing program
• Excellent retirement plans with employer contribution
• Public Service Loan Forgiveness (PSLF) opportunity
• Financial counseling services
• Employee Assistance Program with eight sessions of counseling at no cost
• Employee Transit Pass with free or reduced rates in the Twin Cities metro area

Applications must be submitted online. To be considered for this position, please click the Apply button and follow the instructions. You will be given the opportunity to complete an online application for the position and attach a cover letter and resume.

Additional documents may be attached after application by accessing your "My Job Applications" page and uploading documents in the "My Cover Letters and Attachments" section.

To request an accommodation during the application process, please e-mail employ@umn.edu or call (612) 624-8647.

The University recognizes and values the importance of diversity and inclusion in enriching the employment experience of its employees and in supporting the academic mission. The University is committed to attracting and retaining employees with varying identities and backgrounds.

The University of Minnesota provides equal access to and opportunity in its programs, facilities, and employment without regard to race, color, creed, religion, national origin, gender, age, marital status, disability, public assistance status, veteran status, sexual orientation, gender identity, or gender expression. To learn more about diversity at the U: http://diversity.umn.edu

Any offer of employment is contingent upon the successful completion of a background check. Our presumption is that prospective employees are eligible to work here. Criminal convictions do not automatically disqualify finalists from employment.

The University of Minnesota, Twin Cities (UMTC)

The University of Minnesota, Twin Cities (UMTC), is among the largest public research universities in the country, offering undergraduate, graduate, and professional students a multitude of opportunities for study and research. Located at the heart of one of the nation's most vibrant, diverse metropolitan communities, students on the campuses in Minneapolis and St. Paul benefit from extensive partnerships with world-renowned health centers, international corporations, government agencies, and arts, nonprofit, and public service organizations.

At the University of Minnesota, we are proud to be recognized by the Star Tribune as a Top Workplace for 2021, as well as by Forbes as Best Employers for Women and one of America's Best Employers (2015, 2018, 2019, 2023), Best Employer for Diversity (2019, 2020), Best Employer for New Grads (2018, 2019), and Best Employer by State (2019, 2022).