OSI Systems, Inc

  • Financial Analyst

    Location UK-Salfords, Surrey | UK-Salfords, Surrey RH10 5GG
    Posted Date 1 month ago(10/12/2018 5:10 AM)
    Company
    Rapiscan Systems Ltd
    Requisition #
    14597
    Additional Location
    UK-Salfords, Surrey RH10 5GG
  • Overview

    Rapiscan Systems is an industry leader in detection technology, providing cargo and vehicle inspection systems and services for ports, borders, military, high-threat facilities, and checkpoints to help customers combat terrorism, drug smuggling, illegal immigration, and trade fraud.  We offer a broad array of scanning system configurations that leverage low-, medium-, and high-energy X-ray technology—or multiple X-ray technologies—to address each customer’s unique security application requirements. Our commitment to excellence in imaging performance, innovative design, and uncompromising quality ensures our solutions consistently deliver best-in-class imaging, high reliability, and operator satisfaction, to help customers find threats and contraband with ease and confidence.

     

    The Financial Analyst is responsible for supporting the finance department’s financial planning and analysis (FP&A) functions to further financial performance by driving the Company’s financial weekly, monthly, quarterly and annual forecast and budgeting process, operating plan variance analysis and revenue & cost accounting.  

     

    Provide key management information, financial insight and support to senior management to aid better business understanding and decision making and actively contribute to raising the quality and standard of financial information, financial behaviour and financial support throughout the business.

     

    This is a business facing role that will have interaction with a number of non-finance employees with the aim to further develop in them strong finance ethics and rigorous, accurate and timely finance planning and analysis, and will develop strong relationships within the finance team to further the Company’s performance and support the FP&A agenda.

    Responsibilities

    Revenue reporting and tracking

    Maintain the Rapiscan EMEA Short Range Outlook (SRO) Equipment revenue tracking file, to involve the following activities:

    • Include the current backlog of sales orders (SOs) from the Navision backlog report, i.e. orders where revenue has not yet been fully recognised. This relates to SOs for all product groups booked through the UK Navision entity.
    • Ensure the backlog data is accurately presented. This is includes the SO number, order date, customer, customer number, country, shipping terms, payment terms, currency, salesperson/project manager, product code, equipment detail and quantity, $ amount, revenue month, shipping date, comments, risk/opportunity category, location source, sales region, customer purchase order number, intercompany SO number.
    • Identify any variance between the planned delivery date on Navision and the revenue date on the backlog sheet of the SRO file, determine which date is correct and have the incorrect date amended accordingly.
    • Identify any errors with the backlog data from Navision or on the SRO file and have the data corrected
    • Include the current forecasted book & ship opportunities identified by the Sales team
    • Ensure the book & ship data is accurately presented. This includes the customer name, sales person, sales region, product code, probability, country, shipping terms, payment terms, currency, equipment detail and quantity, $ amount, revenue month, shipping date, comments, risk/opportunity category, location source.
    • Obtain updates from the sales team on their opportunities and backlog orders on a weekly basis and incorporate comments and amendments as required.
    • Incorporate updates on a daily basis from the shipping report from Malaysia.
    • Distribute the SRO file at the end of each week to the various product teams (UK Checkpoints, Malaysia Checkpoints, UK Trace), Sales and Finance to input their comments in their dedicated columns for return to you by Tuesday lunchtime each week. Ensure SOs are retained in the same row in order to copy the responses into the master version of the SRO file. Consolidate their comments and shipping dates into the shipping date and comments columns.
    • Amend any risk and opportunity categories identified from the feedback from Sales and Operations.
    • Amend the revenue recognition month where changes are identified from the feedback from Sales and Operations.
    • Add any new booked orders onto the backlog sheet on a daily basis. Ensure that any opportunity on the book & ship sheet that becomes a booked order is removed from the book & ship sheet to avoid duplication.
    • Detail any revenue movements to the monthly forecast by SO/opportunity on the Overview sheet, with explanation. Ensure that the total of the detail movements reconciles to the total movement by product group.
    • Review Navision for the revenue for the month to date on a daily basis and mark off the SOs invoiced on the backlog sheet. Ensure that the revenue figure for the month to data on the backlog sheet agrees to Navision, or any difference is explained. Any difference between the forecasted revenue figure and the amount in Navision should be investigated, identifying if any there is a balance left to invoice on the SO or if there is a valid variance requiring the amount on the backlog file to be amended and detailed on the overview sheet. Any revenue recognised in the month but not forecasted in the month will require moving to the current month on the Backlog sheet and detailed on the Overview sheet.
    • Obtain inputs from the various product groups (Tray Return Systems, Explosive Detection System and Cargo) finance personnel. Incorporate comments and changes, ensuring the Overview sheet reflects any changes and reconciles back to movements to the forecast.
    • Attend various weekly calls with Sales, Malaysia & UK Operations and the US. Maintain updates to the backlog and book & ship data and comments from the calls. Contribute to the call and be prepared to present information and/or lead the calls as required.
    • Prepare the data so that it can be incorporated into the monthly revenue Hyperion forecast submission by working day 6.
    • Maintain the Overview summary sheet and update the data to incorporate the new forecast each month.
    • Maintain a cumulative list of orders invoiced for the year to date.
    • Run and review the shipped not invoiced report throughout the month, identify orders which can be invoiced and provide status comments for orders which are not invoiced.
    • Uphold the company’s core values of Integrity, Innovation, Accountability, and Teamwork.
    • Demonstrate behavior consistent with the company’s Code of Ethics and Conduct.
    • It is the responsibility of every employee to report to their manager or a member of senior management any quality problems or defects in order for corrective action to be implemented and to avoid recurrence of the problem.

    Navision journal entry

    • Identify any errors with the revenue booked in the month, e.g. incorrect GL, department or product code, and input a journal into Navision to correct the revenue and associated cost of sale.
    • Support the FP&A manager and Finance Director with any journal entry into Navision, following clear guideline and instruction.

     

    Departmental Overheads Reporting

    • Produce the monthly departmental overheads report, following the instructions in place.
    • Download the detailed transactions from Navision for incorporating in the monthly report.
    • Copy the headcount data file and incorporate the temporary staff data.
    • Run the Excel macros to populate the reports.
    • Refresh the data in each report to pick up the latest financial figures from Hyperion.
    • Email the reports to each department head.
    • Receive any queries back from department head and respond where possible or forward to the relevant Finance representative for the department.
    • Gain an enhanced understanding of overheads costs and request data from department heads to aid the submission of an accurate forecast each month.
    • Update and distribute the overheads and headcount summary report.
    • Maintain the reporting procedure to incorporate additions or changes to the departments.

     

    Project Financial Reporting

    • Produce the monthly project financial report.
    • Download the detailed transactions from Navision for incorporating in the monthly report.
    • Review the transactions throughout the month to identify any entries requiring journal correction prior to the month end cut off.

    Other

    • Ensure that reports are up-to-date and available in a timely manner.
    • Assist with the monthly forecasting and annual budgeting processes for revenue and costs as required.
    • It will be imperative that good relations are to be established with the finance team for cross-fertilisation of ideas and methodologies to take place both in the UK and the US.
    • Work with the business to enable them to better understand Navision data and the link between their activity and its representation in the accounts to ensure the accounts are at all times a fair reflection of where we are.
    • Recommend new procedures and policies that will improve efficiency and identify non-value added activities and find cost effective ways of reducing them to a minimum.
    • Ad-hoc reporting and any reasonable duties to support the FP&A Manager, Finance Director and the senior management team.

    Qualifications

    • Self-motivated, dedicated and pro-active member of the team supporting the furthering of the standards of the department and finding solutions that fit the business, with a commitment to getting the job done.
    • Diligent, enthusiastic, and driven, with an excellent work ethic, and a “can do” attitude. 
    • Hands on contributor that is meticulous with the detail and is comfortable with dealing with large bodies of data.
    • Good interpersonal skills and understanding of organisations, being able to clearly explain financial information and terminology to non-technical parties and to communicate effectively at all levels within the organisation and with external parties such as auditors. 
    • Able to cope with change and conflicting demands, with good personal time management and priority setting, and comfortable working to deadlines.
    • Inspires others to achieve. Learns and shares knowledge.
    • Relevant accounting qualification, part-qualified, or qualified through experience. Experience of a manufacturing environment would be an advantage.
    • Must be proficient in the use of PC software applications as well as experience in the operation of integrated accounting ledgers, along with advanced excel skills. Hyperion or Navision experience would be an advantage.

     

    OSI Systems, Inc. has three operating divisions: (a) Security, providing security and inspection systems, turnkey security screening solutions and related services; (b) Healthcare, providing patient monitoring, diagnostic cardiology and anesthesia systems; and (c) Optoelectronics and Manufacturing, providing specialized electronic components and electronic manufacturing services for original equipment manufacturers with applications in the defense, aerospace, medical and industrial markets, among others.

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