Principal Financial Analyst

2 weeks ago

Minneapolis, United States Taleo Full time

CAREERS THAT CHANGE LIVES

Medtronic’s Supply Chain is at the heart of the company, focused on ensuring the right product is in the right place at the right time to meet our customer’s and patient’s needs.

The Supply Chain Function is responsible for balancing supply and demand across the organization; ensuring we have the optimized amount of inventory to meet worldwide demand for Medtronic’s vast array of businesses and products.

Are you a data-driven financial analyst with a passion for supply chain optimization? We are seeking a Principal Financial Analyst to join our dynamic Supply Chain Finance team. This role offers an exciting opportunity to shape the financial future of our organization by leveraging your analytical skills and business acumen.

Location: Minneapolis, MN (Open to Remote). Team and Business partners will be located globally.

Travel: Less than 25%

A DAY IN THE LIFE

Our Principal Financial Analyst thrives on numbers, models, and collaboration. They’re the unsung hero behind optimized supply chains, cost savings, and strategic decisions. In this role, you will be responsible for developing accurate inventory and scrap forecasts, building sophisticated financial models, and utilizing operational analytics to predict financial outcomes. You’ll collaborate with operational and financial stakeholders to translate these models into practical business insights, focusing on key performance indicators such as GMROI, inventory weeks, and scrap as a % of COGS. A deep understanding of P&L, income statements, and balance sheets is critical.

Responsibilities:

Driver-based Inventory Forecasts: Develop accurate and actionable forecasts for inventory levels and scrap, ensuring optimal supply chain efficiency.

Driver-based forecasts for Scrap, Obselsence, Gain and Loss: Develop forecasts based to key indicators to drive accountability, improve outcomes, and increase predictability of scrap metrics.

Financial Modeling: Build sophisticated financial models for regular forecasting, incorporating historical data, market trends, and operational insights.

Operational Analytics: Utilize tools such as Microsoft Excel and Power BI to analyze supply chain data, identify patterns, and predict financial outcomes.

Model Translation: Translate complex models into practical business insights, collaborating with Supply Chain and Operations stakeholders to drive adoption.

Key Performance Indicators (KPIs):

GMROI (Gross Margin Return on Inventory): Evaluate the effectiveness of inventory investments.

Inventory Weeks: Monitor inventory turnover and optimize stock levels.

Scrap as a % of COGS: Identify cost-saving opportunities related to scrap management.

Financial Acumen:

Understand Profit and Loss (P&L) statements, income statements, and balance sheets to provide strategic recommendations.

MUST HAVE: Minimum Requirements

Bachelors degree required Minimum of 7 years of relevant experience, or advanced degree with a minimum of 5 years relevant experience

NICE TO HAVE

Strong leadership, business partnering and influencing skills

Proven track record of taking ownership and driving results

Drive for continuous improvement including the ability to innovate and simplify both finance and operational processes

Ability to think big (strategically) and dive deep (tactically)

Ability to work effectively in a team environment

Demonstrated ability to build and manage financial models for business forecasting, variance analysis, and problem solving

Desire to learn and to develop for future opportunities and job growth

ABOUT MEDTRONIC

Together, we can change healthcare worldwide. At Medtronic, we push the limits of what technology, therapies and services can do to help alleviate pain, restore health and extend life.

We challenge ourselves and each other to make tomorrow better than yesterday. It is what makes this an exciting and rewarding place to be.

We want to accelerate and advance our ability to create meaningful innovations - but we will only succeed with the right people on our team. Let’s work together to address universal healthcare needs and improve patients’ lives. Help us shape the future.

Physical Job Requirements

The physical demands described within the Responsibilities section of this job description are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. For Office Roles: While performing the duties of this job, the employee is regularly required to be independently mobile. The employee is also required to interact with a computer, and communicate with peers and co-workers. Contact your manager or local HR to understand the Work Conditions and Physical requirements that may be specific to each role. (ADA-United States of America)

A commitment to our employees lives at the core of our values. We recognize their contributions. They share in the success they help to create. We offer a wide range of benefits, resources, and competitive compensation plans designed to support you at every career and life stage. Learn more about our benefits here.

This position is eligible for a short-term incentive plan. Learn more about Medtronic Incentive Plan (MIP) here.

The base salary range is applicable across the United States, excluding Puerto Rico and specific locations in California. The offered rate complies with federal and local regulations and may vary based on factors such as experience, certification/education, market conditions, and location. Compensation and benefits information pertains solely to candidates hired within the United States (local market compensation and benefits will apply for others).

Additional Information

Posting Date: Mar 4, 2024 Travel: Yes, Salary Min: 102000 Salary Max: 153000

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