Main Responsibilities and Required Skills for Financial Reporting Analyst

A Financial Reporting Analyst is a professional who prepares, analyzes and presents financial results. They maintain and strengthen internal controls over financial reporting. In this blog post we describe the primary responsibilities and the most in-demand hard and soft skills for Financial Reporting Analysts.

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Main Responsibilities of Financial Reporting Analyst

The following list describes the typical responsibilities of a Financial Reporting Analyst:

Abide by

Abide by and support the policies set forth in the Stryker Code of Conduct.

Accept

Accept personal responsibility for completing tasks and takes appropriate action as required.

Administer

Administer and provide application development for financial reporting and consolidation system.

Analyze

Analyze and interpret the SBU and LOB results as well as provide strategic / value-added insight.
Analyze and reconcile variances between the general ledger, sub-ledgers, and systems.
Analyze data and information to provide subject-matter insights and recommendations.
Analyze financial results under strict deadlines.
Analyze, strengthen and document internal controls over financial reporting.

Apply

Apply Generally Accepted Accounting Principles (GAAP) to create or update financial statements.

Assist in / Assist with

Assist in maintaining and strengthening of internal controls over financial reporting.
Assist in process improvements for tax procedures.
Assist in providing accounting analysis to support management in strategic decision making.
Assist in quarterly reviews and annual year end audit of financial statements.
Assist in the completion of special projects and / or adhoc projects, as required.
Assist in the coordination of annual audit and quarterly review activities of external auditors.
Assist in the preparation of EPS calculations.
Assist in the preparation of various corporate tax and GST filings.
Assist Manager, Corporate Tax & Audit on other ad-hoc projects.
Assist Senior Leadership with special projects (e.g. acquisitions, divestitures, etc.).
Assist senior team member with ad-hoc special projects.
Assist the Accounting Department in their monthly close process.
Assist the Controller and Director of Finance on an ad hoc basis.
Assist with building out connectors between Adaptive and multiple ERP systems.
Assist with building out new process improvements as the business continues to grow.
Assist with implementing and maintaining internal financial controls and procedures.
Assist with internal and external audit requirements as required.
Assist with or manage special projects as required.
Assist with preparation for year-end audit.
Assist with preparation of budgets and forecasts.
Assist with preparation of monthly and year-end financial statements.
Assist with reconciliations of US GAAP differences.
Assist with special projects, as directed.
Assist with the coordination of the Company's annual audit with the independent auditors.
Assist with updating or building reporting files as needed.

Audit

Audit fee reconciliation and subsidiary reporting.

Build

Build and maintain bottom-up budgets and P&Ls (all departments, consolidated view).
Build business case for new headcount or incremental spend initiatives.
Build effective relationships with internal / external stakeholders.

Coach

Coach, mentor employee, provide training and feedback as required.

Communicate

Communicate and explain accounting issues and evolving accounting guidance to the management team.

Complete

Complete accurate month-end journal entries.
Complete and Issue monthly FTE reports.
Complete and Issue monthly Overtime reports.
Complete capital asset account reconciliation.
Complete Group Benefits Program customizable to your needs.
Complete monthly reports with various groups, such as bank groups, or other parties.
Complete other projects or related duties as assigned.
Complete review, including reasonableness check of data for obvious discrepancies.
Complete special projects, which require advanced analysis, execution and roll-out, as.
Complete various surveys and reports for outside companies / agencies.

Contribute to

Contribute to a collaborative and fun work environment.
Contribute to other financial and accounting initiatives and ad hoc analyses as needed.

Coordinate

Coordinate and / or perform centralized tasks required in the report preparation and audit processes.
Coordinate and reviews XBRL tagging for quarterly and annual SEC reporting.
Coordinate annual audit requirements.
Coordinate FP&A activities for numerous complex departments with multiple client stakeholders.
Coordinate requests from clinics and vendors with resources at home office.

Create

Create all ad hoc external reporting requirements.

Develop

Develop and prepare monthly reporting packages on a consolidated and non-consolidated basis.
Develop effective presentations for small groups.
Develop Excel templates / financial models for process improvement.
Develop process improvements to streamline reporting to reduce reporting time.
Develop the balance sheet and cashflow assumptions for budgets, forecasts and strategic plans.

Document

Document development and usage of database.

Draw

Draw conclusions and create an independent view about causes, either internal or external, of trends.

Ensure

Ensure completeness and accuracy of electronic files.
Ensure Compliance with International Financial Reporting Standards (IFRS) and US GAAP.
Ensure processes are reviewed.

Establish

Establish KPIs and other operating metrics to evaluation business performance.

Execute

Execute internal controls with respect to financial policies, processes and procedures.
Execute on established financial reporting control controls.
Execute store / system set up for new locations, store closures or relocations.

Follow-up

Follow-up with respective cost owners to understand and challenge unusual fluctuations or variances.

Form

Form N-PORT requires monthly portfolio reporting no later than 30 days after the end of each month.

Gather

Gather relevant data from respective business units and document business requirements.

Get

Get active at the MET Center's hike and bike trails and disk golf course.

Guide

Guide Canada with ASC 606 requirements.
Guide cost center managers in situations of over or under spend.

Help

Help prepare quarterly presentations for the CEO and CFO to Committees and Board of Directors.

Identify

Identify opportunities for automation.
Identify opportunities to automate, streamline and further develop reporting processes.

Implement

Implement and maintain reporting procedures to comply with internal control requirements.
Implement the accounting infrastructure, processes, and financial reporting.

Intermediate

Intermediate to advanced MS excel for reporting and data analysis.

Interpret

Interpret financial documents such as loans, contracts, leases, etc. and articulate.

Investigate

Investigate and balance Hyperion reports.
Investigate and recommend enhancements to support efficiencies in reporting processes.

Involved

Involved in the preparation of consolidated monthly statements and month-end close process.

Isolate

Isolate key drivers, quantify impacts, and forecast implications to the business.

Issuance

Issuance and tracking of investor capital calls and distributions.

Lead

Lead process improvement by challenging the status quo and be results-driven.
Lead process improvement efforts across multiple segments and various international regions.
Lead the consolidation of financial results.
Lead the development of cost center budgets together with cost center managers.

Liaise with

Liaise with internal auditors, as required.

Maintain

Maintain and update procedures.
Maintain cost centers and chart of accounts for Canadian entities.
Maintain cost center structure and chart of accounts for Canadian entities.
Maintain short term cash forecasting models.

Manage

Manage administration of membership fees, vendor rebates, and legal documents.
Manage and / or participate in the departmental special projects and other duties as assigned.
Manage and train accounting staff.
Manage the monthly financial forecasting process across the Business Units.
Manage the preparation of most board level, corporate level and external departmental reporting.

Meet

Meet established Service Level Agreement targets for timing and quality of deliverables.

Monitor

Monitor current accounting treatments to ensure compliance with the standards.
Monitor the monthly close process and lead change to shorten the close.

Operate

Operate with a high level of integrity and accountability.

Own

Own and lead team reporting related to treasury, KPIs, compensation etc. to drive actionable insight.
Own hardware billing and reporting processes, including the review of accounting policies.
Own monthly close reporting for hardware (including billing) , marketing expenses and accounting.

Participate in

Participate in other projects as required.
Participate in rollout of new processes and protocols.
Participate in the consolidation of a global, multi-currency, multi-gaap structure.
Participate in year-end planning meetings with client, auditors and internal teams.
Participate to the implementation of a new ERP system.
Participate to the year-end audit and file preparation.

Perform

Perform complex key analytics to inform Executive Management team of business results.
Perform other duties as assigned or as necessity dictates.
Perform research and analysis into complex accounting and tax issues.
Perform special assignments as requested.

Post

Post all journal entries and quarterly reporting for 3rd party funds tracked in Investran.

Prepare

Prepare, analyze and present reporting of line of business and segment financial results.
Prepare and distribute weekly management report(s).
Prepare and files annual corporate tax returns with some assistance from accounting firm.
Prepare and / or provide initial reviews of various Board of Trustee reports.
Prepare and review reconciliations and create schedules and presentations for senior management.
Prepare and submit required Federal and Provincial regulatory documentation as needed.
Prepare and submit various regulatory reports to OSFI and ensure reporting meets all deadlines.
Prepare audit statements and manage audit requirements.
Prepare cash flow projections for each investment and identify any variances against cash received.
Prepare complex fund's Portfolio of Investments report.
Prepare, co-ordinate and manage budgeting and business planning processes.
Prepare financial statements and reports.
Prepare financial statement schedules.
Prepare investor capital accounts and reporting packages.
Prepare monthly and quarterly consolidated financial statements, activity and regional.
Prepare monthly and quarterly financial information.
Prepare monthly bank financial statements.
Prepare monthly forecast reports.
Prepare monthly journal entries and perform account reconciliations.
Prepare other periodic financial reports as needed for debt covenant compliance, board.
Prepare period-end and year-end reconciliations, checklists and schedules as required.
Prepare portfolio summary tables in graphical presentation.
Prepare quarterly earnings analysis for external stakeholders and management.
Prepare reports / analyses and participate in other projects as needed.
Prepare reports to help identify company objectives.
Prepare supporting financial schedules for the NY tax team.
Prepare supporting schedules for MD&A reporting and upload to Wdesk.
Prepare the quarterly Call Report (Consolidated Reports of Condition and Income).
Prepare the weekly FR2644 selected balances and FR2900 Cash Report.
Prepare various analyses supporting the financial statements.
Prepare working papers to support the consolidated U.S. GAAP financial statements and footnotes.
Prepare Xtensible Business Reporting Language (XBRL) tagging of financial statements and footnotes.

Process

Process improvement / efficiency minded.

Provide

Provide financial planning & analysis support for new initiatives and other ad hoc projects.
Provide financial support for SDG Group Supply Chain, Group IT and Lean Quality Support functions.
Provide mentorship and training to ensure development of Junior Financial Reporting Analysts.
Provide periodic forecasting at various levels (product, geography, department, consolidated).
Provide support to junior analysts.
Provide training on the financial reporting systems as needed.

Publish

Publish and distribute financial information within Corporate timelines.

Reconcile

Reconcile all cash received from investors and investments and reconcile bank accounts.
Reconcile custodian banks reports and related audit packages to shareholder reports produced.
Reconcile all National related claims and revenue accounts between other Blue Cross plans.

Remain

Remain current on new and upcoming accounting guidance issued by the FASB and SEC..

Represent

Represent the company in various reporting working groups.

Request

Request for accommodation due to a disability can be made at any stage of the recruitment process.

Research

Research and maintain knowledge of current and future developments in IFRS and regulatory issues.
Research new tax issues related to the Corporation.
Research proper accounting treatment for new or complex transactions.
Research / remediation as needed.

Review

Review and assist in resolution of notices from tax authorities.
Review and / or prepares reports for management.
Review Balance Sheet Reconciliations prepared by Financial Reporting Analyst.
Review fund trial balance including preparation of AICPA adjustment and tax-cost.
Review, update and ensure compliance with SOX requirements.
Review workflow to identify opportunities for streamlining and eliminating waste.
Review XBRL tagging of annual Financial Statements in Wdesk.

Share best practices using new and upcoming tools and techniques.

Stay on top of

Stay on top of changes in reporting requirements to ensure compliance.

Support

Support annual planning and quarterly forecasts.
Support cash flow reporting and forecasting processes across the Group.
Support ongoing development and operations of existing solutions.
Support Strategic planning process.
Support systems implementations and process improvements.
Support team members with general accounting and financial reporting inquiries.
Support the achievement of ACG's short and long term Mission, Vision and Strategic objectives.
Support the team in formulation and implementation of a reporting environment.
Support the transition of current reports to the appropriate COE or businesses.

Take

Take advantage of excellent benefits, including health, dental, vision, and life coverage.
Take ownership of issues and ensure a successful resolution.
Take ownership of your career and collaborate alongside leaders in Finance & Accounting.
Take part in feasibility study and propose viable design / solution as per business requirement.

Test

Test programs or databases, correct errors and make necessary modifications to existing databases.

Understand

Understand stakeholder expectation, help convert to requirements & developmental tasks.
Understand that compliance with the Code of Conduct, as it may be amended by.

Use

Use this information to recommend improvements or policy changes.

Utilize

Utilize current technologies to increase capacity and efficiency among the Finance team.

Work with

Work across business units to refine database and create customized reports.
Work collaboratively with FP&A to ensure alignment with assumptions and corporate timelines.
Work cross functionally with Accounting, Legal, FP&A, Operations, IT, HR, etc..
Work directly with operations to explain variances.
Work with business to develop planning assumptions for key business drivers.
Work with Controller on external bank reporting and other GAAP reports for year-end Audit.
Work with external auditors during interim reviews and annual audit.
Work with external auditors in conjunction with the annual year-end audit and quarterly reviews.
Work with Marketing, to execute Gift Card related campaigns.
Work with senior Finance staff to implement new reporting and accounting guidance.
Work with subsidiaries to assemble and prepare consolidated supporting schedules.

Most In-demand Hard Skills

The following list describes the most required technical skills of a Financial Reporting Analyst:

Most In-demand Soft Skills

The following list describes the most required soft skills of a Financial Reporting Analyst:

Written and oral communication skills
Interpersonal skills
Analytical ability
Organizational capacity
Problem-solving attitude
Attention to detail
Multi-task
Detail-oriented
Self-motivated
Adaptable to changes
Time-management
Organized
Self-starter