As a leading global contract research organization (CRO) with a passion for scientific rigor and decades of clinical development experience, Fortrea provides pharmaceutical, biotechnology, and medical device customers a wide range of clinical development, patient access and technology solutions across more than 20 therapeutic areas. With over 19,000 staff conducting operations in more than 90 countries, Fortrea is transforming drug and device development for partners and patients across the globe.
Job Summary:
- Ownership of the end-to-end Grants processing and payment.
- Ensure that all grant invoices are checked for accuracy, approved, entered into the system and are paid on a timely basis.
- Oversee the batching and scanning of invoices into FileNet and any other storage device, including off site archive storage.
- Oversee the repatriation of original invoices and any other documents to local sites in compliance to statutory requirement, as needed.
- Ensure that Non-PO Invoices are properly approved and coded prior batching and scanning.
- Strict compliance to month end close deadlines and close processes and activities.
- Provide analysis for cash forecast vs. actual spending and prepare grant funding forecast to be submitted to accountants for each entities consolidation of funding needs.
- Principal point of contact for Grant Accounts Payable Issues.
- Interact with Internal and External Auditors for Financial and Tax Audits relating to Grant AP.
- Responsible for SOX and Local Tax Legislation Compliance for Grants Processing and Payment
- Make recommendations for process improvements.
Job Duties & Responsibilities:
- Responsible for the receipt, batching and scanning of invoices received centrally on a timely basis.
- Scan billable invoices and local documents to tax agents, if needed, and to work with Accountants (based in Singapore) for documentation requirements.
- Oversee the repatriation of original invoices/reports to local sites in compliance to statutory requirement.
- Ensure that all Non-PO invoices are properly approved/authorized and coded prior to batching and scanning.
- Ensure that Grant Invoices are properly reviewed, approved and coded prior to processing into Peoplesoft FSA.
- Review process includes checking supplementary documents such as contracts to ensure accuracy of information submitted for payment.
- Responsible for the correction/adjustment of account strings related to Grants Run and complete weekly Grant payment runs using the Peoplesoft FSA
- Process Grant EFT payments through Bank Interface and/or any Preformat forms (Citibank)
- Prepare and/or process statutory/manual cheque payments and Telegraphic Transfers and notify authorized signatories for fund release prior to bank cut-off.
- Reconcile Creditors Aged Trial Balance against the Accounts Payable GL Control Account each month for Grants.
- Review Creditors Aged Trial Balance each month and action where necessary.
- Run AP Revaluation for Grants Business Units
- Provide copies of supporting documents required for billing OOP's to clients when required.
- Respond to accounts payable queries both internally and externally as required.
- Creation of New Grants Vendor in Peoplesoft FSA and raising a helpdesk ticket for Grants New Vendor Approval and Grants Vendor Modification if any.
- Assist in the month end accruals as required.
- Assist in the update of policies and procedures manual for Accounts Payable Grants, when needed.
- Prepare and analyse variance against forecasted funding for grant payment and prepare upcoming month's grant funding needs.
- Such information needs to be provided to accountants (based in Singapore) for total entity funding consolidation.
- Keep track of fund used and notify Accountants of payable surges or possible surges, ahead of time, for funding management.
- Act as the principal Accounts Payable contact for Accounts Payable queries and issue resolution as raised by the Fortrea AP Outsourced Team
- Interact with Internal and External Auditors for Financial and Tax Audits
- Ensure that APAC/EMEA-US Grants Processing is compliant to SOX and local tax legislations.
- Make recommendations for process improvements relating to Grants processing and payment, banking, scanning and cash outflow management.
- Provide supervision to support staff when required and/or act as backup for similar position based in Singapore.
Educational Qualifications:
- Education required: Diploma or basic degree in accounting and finance.
- Experience required: 3-5 years. Working knowledge in accounting and finance department in accounts payable role with knowledge of foreign currency transactions.
- Preferred: APAC/EMEA-US experience, preferably in CRO industry. 3 years minimum experience in using ERP Applications
Essential Knowledge:
- Accounts payable processing and payments experience
- GST and VAT knowledge requirements for the region.
- Dealing with foreign currencies within the APAC/EMEA-US.
- Knowledge in Microsoft Office Applications (i.e.: Outlook, Excel, Word, PowerPoint)
- Experience in using ERP Application
Fortrea is actively seeking motivated problem-solvers and creative thinkers who share our passion for overcoming barriers in clinical trials. Our unwavering commitment is to revolutionize the development process, ensuring the swift delivery of life-changing ideas and therapies to patients in need. Join our exceptional team and embrace a collaborative workspace where personal growth is nurtured, enabling you to make a meaningful global impact. For more information about Fortrea, visit www.fortrea.com.
Fortrea is proud to be an Equal Opportunity Employer:
As an EOE/AA employer, Fortrea strives for diversity and inclusion in the workforce and does not tolerate harassment or discrimination of any kind. We make employment decisions based on the needs of our business and the qualifications of the individual and do not discriminate based upon race, religion, color, national origin, gender (including pregnancy or other medical conditions/needs), family or parental status, marital, civil union or domestic partnership status, sexual orientation, gender identity, gender expression, personal appearance, age, veteran status, disability, genetic information, or any other legally protected characteristic. We encourage all to apply.
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