Program Financial Analyst

Smiths Detection is a global leader in detection and screening technologies for the protection of people and assets, supporting safety, security and freedom of movement in today’s world.

At Smiths Group plc, we apply leading-edge technology to design, manufacture and deliver market-leading innovative solutions that meet our customers' evolving needs, and touch the lives of millions of people every day. We are a FTSE
100, global business of around 14,600 colleagues, based in 50 countries. Our solutions have a real impact on lives across the planet, enabling industry, improving healthcare, enhancing security, advancing connectivity and supporting new homes. Our products and services are often critical to our customers’ operations, while our proprietary technology and high service levels help create competitive advantage. We welcome colleagues with a curious mind, who are happy with responsibility, enjoy a challenge and are attracted by the idea of working at a business with an almost 170-year history of innovation, and five global divisions, all experts in their field.

We believe that different perspectives and backgrounds are what make a company flourish and are proud to be a company with values grounded in integrity, respect, ownership, customer focus, and passion.

This role has overall responsibility for the administration of the accounting function for programs. The role has accountability and custody of the programs accounting data and records. The role provides life-cycle accounting, analytical support, and finance partnering expertise to Program Manager(s) from pricing proposals through financial reporting of those programs. The role partners with the Program Manager(s) to manage the WBS structure, ensure actual costs are maintained in SAP, and all relevant costs are budgeted/forecasted and accounted for on a timely basis.

Forecasting to includes sales (revenue recognition), inventory, gross margin, and cash.

Essential Functions:

Provides ongoing financial support to the Program Manager(s) through preparation of monthly program financials detailing P&L and balance sheet items in support of detailed program reviews. Monthly financials will highlight and address key areas of program risk/opportunity while also ensuring accurate and compliant accounting. This will involve:

• Attend program kick-off meeting, setting up program in SAP and generating WBS structures.
• Monthly review of all program balances (WIP, deferred revenue, unbilled), raising accruals or other entries as appropriate, and reconcile all outstanding items.
• Ensure all internal controls and accounting policies regarding program accounting and bids & tenders are followed. Recommend improvements to the same where appropriate.
• Ensure all program invoicing occurs on schedule and is IFRS/FAR/government contract compliant.
• Monthly review of all cost elements ensuring accuracy and reasonableness.
• Variance analysis (actuals vs forecast and budget)
• Monitor cumulative billings against contract value and highlight programs that are approaching contract ceilings.
• Present financial results in monthly program management reviews; addressing financial risks and opportunities to leadership.
• Support internal and external audits.
• Ensure that all accounting information is captured accurately within the timetables set for month end and year end reporting.
• Compare program actual costs to bid / budget costs highlighting variances and propose suggestions for recovery where applicable.
• Creation of WBS’s in SAP in accordance with the contract based on an understanding of the implications of how the WBS will function within SAP.

Forecasting

Provides detailed and accurate program financial forecast identifying phasing of revenue, cost, gross margin, and cash collection. Act as financial leader for responsible programs to drive financial performance. Provide timely and proactive communication to Program Management and Finance leadership on forward looking expectations of program financial performance. This will involve:

• Leading program financial reviews with Program Manager(s) detailing current financial performance and trends.
• Identify and…