Financial Management Associate I

Ernst & Young, a global leader in professional services, is committed to restoring the public’s trust in professional services firms and in the quality of financial reporting. Our 107,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism in providing a range of sophisticated services centered on auditing, accounting, tax, and transactions. We strive to help all of our people achieve both their professional and personal goals through an inclusive environment that values everyone's contributions, appreciates diversity of thought, fosters growth, and provides continuous opportunities for development. Recognized by organizations such as Fortune, Working Mother, and Training magazine, Ernst & Young continually strives to be a great place to work.
Job Description:
The Financial Management Associate I (FMA I) is a dedicated resource who is expert in the firm's current engagement information management systems. While overall responsibility for engagement economics rests with the client serving executive, the FMA I both relieves the client serving executive of the administrative responsibilities associated with engagement information management and provides a ready resource for financial data and analysis. Specific duties and responsibilities include: establishing client and engagement records, monitoring inventory levels, initiating client invoicing, and overseeing the collection of accounts. May delegate work to a financial assistant. Responsibilities The FMA I works closely with the client serving executive to establish new clients and engagements. Assists the client serving executive in preparing documents for the client acceptance and investigation processes; reviews the engagement letter/letter of understanding and other information to collect accurate data for client and engagement setup; and determines the billings and collections best practice for each client engagement. Initiates client invoicing and monitors collections. Working with the client serving executive, the FMA I schedules and initiates client invoicing, proactively encourages billing for 'out-of-scope' work, monitors client collections, and follows-up on past due invoices. The FMA I streamlines and standardizes the billing and collections processes in order to minimize revenue days. Analyze inventory balances - the FMA I monitors inventory levels and reports large aged balances to the client serving executive and the Area Director of Finance. The FMA I should be knowledgeable of the reasons for the large balances and work with the client serving executive to minimize balances. Special Projects/Ad hoc requests - the FMA I gathers and interprets data and provides analysis upon request. This includes all forms of financial, profitability and exception reporting. Vacation generally can not be taken during the year end process (June timeframe).Ernst & Young LLP, an equal opportunity employer, values the diversity of our work force and the knowledge of our people.
REQUIREMENTS
Qualifications: To qualify, candidates must have: a bachelor’s degree or equivalent work experience approximately 1-2 years work experience in a professional atmosphere in a financial/business capacity