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Bell & Associates has been engaged by a Little Rock non-profit hospital to find their first Clinical Research Finance Manager. The Finance Manager will act as the bridge between research operations and finance, ensuring that clinical studies are adequately funded, financially compliant, and managed efficiently, which is critical for keeping trials on time and within budget while adhering to regulatory standards. This client offers outstanding benefits and competitive salary as well as opportunities for continued career growth.

SPECIFIC JOB DUTIES AND RESPONSIBILITIES:

Clinical Trial Financial Auditing and Compliance

1. Conduct regular and systematic audits of all active clinical trials to ensure accurate and appropriate billing to sponsors in accordance with study protocols, budgets, and contractual agreements.
2. Identify billing discrepancies, investigate root causes, and implement corrective actions to prevent recurrence, working closely with the billing and coding team and Revenue Cycle leadership.
3. Ensure compliance with federal regulations (including Medicare Coverage Analysis), sponsor requirements, and institutional policies related to clinical trial billing.
4. Collaborate with the Research department and clinical operations staff to maintain proper documentation supporting all billable activities.

Budget Development and Management

1. Prepare detailed financial budgets for all new clinical trials, including per-patient cost analyses, overhead allocation, and projected revenue.
2. Prepare detailed financial budgets for all new Research grants.
3. Negotiate budget terms with sponsors and contract research organizations (CROs) to ensure adequate funding for institutional costs.
4. Monitor ongoing trial and grant budgets against actual expenditures and revenue, providing variance analyses and financial forecasts to leadership.
5. Coordinate with the VP of Finance on budget integration into the organization’s overall financial planning.
6. Collaborate with other members of Research leadership team to improve study start-up timelines and meet activation goals to expand clinical trial portfolio.
7. Assist Director of Research with preparing the annual department budget.

Accounts Receivable and Revenue Reconciliation

1. Perform daily reconciliation of all clinical research accounts receivable balances, ensuring that recorded revenue aligns with sponsor invoicing and payment activity.
2. Investigate and resolve outstanding receivable balances, aged items, and payment discrepancies in a timely manner.
3. Ensure proper revenue recognition for all clinical trial activities in accordance with GAAP and organizational accounting policies.
4. Prepare and submit accurate and timely invoices to sponsors for services rendered under each clinical trial agreement.
5. Collaborate with the Controller to reconcile the Accounts Receivable subsidiary ledger to the General Ledger, ensuring accuracy, completeness, and timely resolution of discrepancies.

Time, Effort, and Expense Tracking

1. Oversee the tracking and reporting of staff time and effort allocated to clinical research activities to ensure proper cost allocation and sponsor billing.
2. Monitor and reconcile research-related expenses, including pass-through costs, to ensure they are captured and billed appropriately.
3. Develop and maintain standardized processes for time and expense documentation across all active trials and research grants.
4. Track and report on investigator activities.

Reporting and Process Improvement

1. Provide monthly and ad hoc financial reports and dashboards to the VP of Finance and Director of Research summarizing clinical trial financial performance, receivable aging, and budget status.
2. Identify opportunities for process improvements in research billing, budgeting, and reconciliation workflows.
3. Support internal and external audits related to clinical research financial activity.
4. Serve as a subject matter expert on clinical trial financial processes for cross-functional teams

EDUCATION, CERTIFICATION, LICENSURE, REGISTRATION:

1. Bachelor’s degree in Accounting, Finance, Healthcare Administration, or a related field required
2. Master’s degree in a related discipline or CPA designation preferred.

EXPERIENCE, KNOWLEDGE, SKILLS and ABILITIES:

1. Minimum of 5 years of progressive experience in healthcare finance, clinical research finance, or clinical trial administration.
2. Demonstrated experience with clinical trial budgeting, sponsor billing, and accounts receivable management.
3. Experience with Medicare Coverage Analysis and clinical trial billing compliance strongly preferred.
4. Previous experience in an oncology or academic medical setting is a plus.
5. Strong understanding of clinical trial financial lifecycle, including budget negotiation, sponsor invoicing, and revenue recognition.
6. Thorough knowledge of GAAP, federal regulations governing clinical research billing (including CMS guidelines), and Good Clinical Practice (GCP).
7. Proficiency with financial software systems, ERP platforms, and clinical trial management systems (CTMS).
8. Advanced proficiency in Microsoft Excel and experience with data analysis and financial modeling.
9. Excellent analytical, organizational, and problem-solving skills with strong attention to detail.
10. Effective communication skills with the ability to translate complex financial data for clinical and administrative stakeholders.
11. Ability to manage multiple priorities, meet deadlines, and work both independently and collaboratively.

INTERPERSONAL SKILLS:

1. Must interact and communicate both verbally and in written form.
2. Must interact and exchange information regarding patients with physicians and other departmental personnel, and outside agencies on a frequent basis while respecting the confidentiality of patient information.
3. Maintains a positive attitude and close working relationship with their fellow leaders of Patient Services and all leadership across all departments.
4. Must be able to remain professional in all communication and interactions with others, including in person, over the phone, and all written forms.