Senior Financial Analyst

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 114,000 colleagues serve people in more than 160 countries.

Job Description:

• Working at Abbott
• At Abbott, you can do work that matters, grow, and learn, care for yourself and your 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.
• Employees can qualify for free medical coverage in our Health Investment Plan (HIP) PPO medical plan in the next calendar year.
• An excellent retirement savings plan with a 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 worldwide 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 the best place to work for diversity, working mothers, female executives, and scientists.

The Opportunity
This position is at our Abbott Park Headquarters (Lake County IL) location supporting our Corporate Finance Reporting team, office of the DVP/Corporate Assistant Controller.  As the Senior Financial Analyst, you will be responsible for various financial processes and activities critical to the accurate consolidation of Abbott financials and to provide analytics supporting strategic business decisions.

What you will work on

We are looking for a highly motivated candidate who has an analytical mindset to be a key contributor to our Corporate Finance team.  This position is unique in that the content is ever changing and is dependent on current strategic projects and supporting the Corporate Finance Reporting team to ensure accurate reporting of Abbott consolidated financials.  The primary duties include:

• Provide support for corporate strategic projects such as acquisitions and other reorganizations from an accounting perspective. Collaborate with Corporate Reporting, Strategic Project Directors, and Division Finance as necessary to understand and propose processes to execute tasks as assigned. 
• Abbott acquisitions - Initiate set up of new Abbott entity; map local ledger details to Abbott ledger accounts; ensure monthly trial balance detail and purchase accounting opening balance sheet (OBS) and OBS adjustments are recorded accurately; analyze and record cash flow movements; push down OBS adjustments and cash flow reporting to the local affiliate ledgers when purchase accounting is finalized and local system access is available.
• Abbott Entity Liquidations - Analyze remaining ledger balances and propose necessary steps needed to effectively eliminate, transfer or write off balances. Communicate entries needed to local affiliate team, and USD adjustments needed to ensure results tie to expectations.
• Strategic Tax and Treasury Projects (Cash Repatriation, Capital Injections, IC Loan Optimization, etc.) - Review proposed activity and prepare entries to execute the project steps as outlined.  Actively participate in cross functional discussions, update entries as changes are received, communicate entries to local affiliates and parent company USD adjustments (PCAs) to affiliate accounting team, and ensure results tie to expectations.
• Provide support to the Corporate and Division Finance teams from overall consolidation perspective.  Analyze, investigate, and propose resolution for consolidation reporting issues as needed. Record top-side adjustments for but not limited to intercompany dividend elimination; intercompany non-operating income (expense); and entity restructuring activity.
• Provide support to the Abbott Transition Organization (ATO) for corporate sponsored reorganization activities. Create and maintain accurate confidential severance accrual roll forwards by country and currency.  Record all necessary accrual adjustments as balances are determined, expenses are realized, quarterly accrual true ups are finalized, accrual reversals are needed and push down to local ledgers if deemed appropriate.
• Provide support to the Abbott Corporate Tax team throughout the year but concentrated for September soft close and year end reporting in the areas of consolidated Abbott deferred margin tie out, deferred margin tax provision, topside ledger deferred tax balances, intercompany dividend elimination and topside ledger P&L activity information.
• Effectively participate in various corporate driven and continuous improvement activities including but not limited to: user acceptance and parallel testing for financial system or accounting process changes; SOX control review and testing; regular review of current processes and proposal of improvement ideas.
• Ensure topside SAP and HFM temporary ledger balances are supported and maintain accurate organized backup for future reference.  This includes but is not limited to accruals for reorganization activities, acquisition purchase accounting activity, deferred tax balances, and goodwill. Analyze monthly activity and resolve issues in a timely manner.
• Analyze intercompany investment in sub and capital ledger activity to be sure details are in balance by entity.  Collaborate with the Affiliate Accounting team to ensure monthly activity is understood and out of balances are resolved in a timely manner.
• Routine month end responsibilities are mainly related to financial reporting after an acquisition is executed while purchase accounting valuations are being finalized. Maintain accurate procedures for all routine tasks and ensure an annual review of all procedures is completed.
• Respond effectively, accurately, and timely to Internal / External Audit requests for supporting documentation and questions about processes.
• Abbott acquisitions - Initiate set up of new Abbott entity; map local ledger details to Abbott ledger accounts; ensure monthly trial balance detail and purchase accounting opening balance sheet (OBS) and OBS adjustments are recorded accurately; analyze and record cash flow movements; push down OBS adjustments and cash flow reporting to the local affiliate ledgers when purchase accounting is finalized and local system access is available.
• Abbott Entity Liquidations - Analyze remaining ledger balances and propose necessary steps needed to effectively eliminate, transfer or write off balances. Communicate entries needed to local affiliate team, and USD adjustments needed to ensure results tie to expectations.
• Strategic Tax and Treasury Projects (Cash Repatriation, Capital Injections, IC Loan Optimization, etc.) - Review proposed activity and prepare entries to execute the project steps as outlined.  Actively participate in cross functional discussions, update entries as changes are received, communicate entries to local affiliates and parent company USD adjustments (PCAs) to affiliate accounting team, and ensure results tie to expectations.

Required Qualifications:

• Bachelor’s degree in finance or accounting – CPA preferred
• 3-5 years of progressive experience in finance/accounting

Preferred Qualifications:

• Proficiency in Hyperion Essbase database navigation, data analysis and data upload processing.
• Must possess strong financial analytical and problem solving skills.
• Self-starter who works independently to analyze processes and understand responsibilities.
• Strategic and innovative thinker who will challenge the status quo and drive process improvements.
• Effective communication skills with all levels of management and corporate functional teams.

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.

The base pay for this position is

$75,300.00 – $150,700.00

In specific locations, the pay range may vary from the range posted.

Job Family:

Accounting & Reporting

Division:

FIN Corporate Finance

Location:

United States > Abbott Park : AP06C

Additional Locations:

Work Shift:

Standard

Travel:

Not specified

Medical Surveillance:

No

Significant Work Activities:

Keyboard use (greater or equal to 50% of the workday)Abbott is an Equal Opportunity Employer of Minorities/Women/Individuals with Disabilities/Protected Veterans.EEO is the Law link - English: http://webstorage.abbott.com/common/External/EEO_English.pdfEEO is the Law link - Espanol: http://webstorage.abbott.com/common/External/EEO_Spanish.pdf