Financial Analyst at Abbott

Plymouth, Minnesota, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Healthcare, Medical DevicesIndustries

Requirements

Bachelor’s degree in finance, accounting, or related field
2+ years of full-time experience in FP&A (Financial Planning and Analysis)
Excellent skills in computer applications (MS Excel and PowerPoint)
Excellent verbal and written communication skills with ability to effectively communicate at multiple levels in matrix-oriented organization
Strong analytical and problem-solving skills

Responsibilities

Support the Month-End close process including accrual requests, journal entries preparation, spending/headcount review, variance analysis to forecast, and reporting of monthly results to management
Capital consolidation during month-end close and quarterly forecasts. Own all inputs and provide detailed drivers of variances
Contribute to the quarterly forecast processes by independently taking ownership for assigned areas, including discussion with business partners, understanding business inputs and assumptions, consolidating inputs to division level, commenting on final numbers, providing effective communication to leadership on performance and drivers, and driving excellence in both processes and tools
Identify areas that can be improved and constructively propose new solutions that drive efficiencies. Develop and utilize sound financial processes to drive improved business performance
Financial modeling with extensive use of Excel
Support other Ad Hoc finance requests or enquiries from business partners
Consolidation of full P&L, forecasting, and capital reporting for the business, including Month-End Close, Quarterly Forecasts, support the development of the Annual Operating Plan, and monthly Business Reviews
Provide sales and margin analysis, and be involved in process improvement initiatives

Skills

Key technologies and capabilities for this role

Financial AnalysisVariance AnalysisExcelFinancial ModelingForecastingBudgetingLeadership Reporting

Questions & Answers

Common questions about this position

What benefits does Abbott offer to employees?

Abbott provides free medical coverage for employees via the Health Investment Plan (HIP) PPO, an excellent retirement savings plan with high employer contribution, tuition reimbursement, the Freedom 2 Save student debt program, and FreeU education benefit.

Is this Financial Analyst position remote or onsite?

This position works out of the Plymouth, MN site and is not remote.

What are the main responsibilities of the Financial Analyst role?

The role involves supporting the Month-End close process including accruals and variance analysis, capital consolidation, contributing to quarterly forecasts, and providing sales and margin analysis.

What is the company culture like at Abbott?

Abbott emphasizes doing work that matters, personal growth and learning, caring for yourself and family, being your true self, and living a full life, and is recognized as a great place to work for diversity, working mothers, female executives, and scientists.

What makes a strong candidate for this Financial Analyst position?

A strong candidate will have experience in financial consolidation, P&L management, forecasting, variance analysis, month-end close processes, and capital reporting, with the ability to partner with leadership and drive process improvements.

Abbott

Healthcare solutions in diagnostics and devices

About Abbott

Abbott Laboratories focuses on improving health through various medical technologies and health solutions. The company operates in areas such as cardiovascular health, diabetes management, diagnostic testing, nutrition, and neuromodulation for chronic pain and movement disorders. Abbott's products include advanced medical devices and diagnostic tests that help healthcare professionals and patients manage health conditions effectively. For example, their cardiovascular technologies assist in heart health management, while diabetes care products enable accurate glucose monitoring without painful fingersticks. Unlike many competitors, Abbott emphasizes accessibility and affordability in its offerings, aiming to make life-changing technologies available to a broader audience. The company's goal is to positively impact global health and well-being, supported by a commitment to sustainability and a 2030 Sustainability Plan.

Lake Bluff, IllinoisHeadquarters

1888Year Founded

IPOCompany Stage

HealthcareIndustries

10,001+Employees

Risks

Departure of key leader Dr. Adamson may affect Abbott's Heart Failure division.

Integration challenges with Medtronic could impact glucose monitor-insulin pump rollout.

Thermo Fisher's microfluidics expansion may increase competition for Abbott.

Differentiation

Abbott integrates continuous glucose monitoring with automated insulin delivery systems.

Abbott's microfluidic devices streamline diagnostic processes efficiently.

Abbott's neuromodulation products target specific nervous system areas for chronic pain relief.

Upsides

Microfluidic technology offers cost-effective solutions in diagnostics.

Strategic partnerships like Abbott-Medtronic enhance product offerings and market reach.

Significant investments indicate strong market confidence in Abbott's healthcare solutions.

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