|Published||August 3, 2022|
Senior Director, Tax Accounting & Process Improvement
Recognized by FORTUNE magazine as one of the “World’s Most Admired Companies,” Quest Diagnostics (www.QuestDiagnostics.com) is the world's leading provider of diagnostic testing, information and services that doctors and patients need to make better healthcare decisions. We are pioneers in developing innovative diagnostic tests and advanced healthcare information technology solutions that help improve patient care.
With corporate headquarters in Secaucus, NJ, Quest Diagnostics is a Fortune 500 company traded on the New York Stock Exchange (NYSE: DGX) and included in the Dow Jones Sustainability World Index, with 2021 revenues of $10.79 billion.
The Senior Director of Tax Accounting and Process Improvement will be a member of the senior leadership team reporting directly to the Vice President of Tax. This position will provide both strategic tax leadership and supervision in the preparation of the income tax provision in accordance with ASC 740 for the Tax Department. The position will be responsible for all matters related to tax accounting, and completing and maintaining the quarterly and annual tax provision for Quest. The Senior Director of Tax Accounting is also responsible for reflecting all tax planning and law changes in the Company’s cash tax position and effective tax rate. The position will also be responsible for leading and implementing process improvements and technology updates to ensure the tax accounting function operates as best in class.
The ideal candidate will need to be a proven business partner who can understand the business and how changes in the business should be appropriately reflected in the tax provision. They will need to be an experienced professional who has broad, global and state and local tax experience and can work under tight deadlines during the close process with minimal errors/rework. This position will develop collaborative working relationships across the Company and function as a liaison with key business groups, the C-Suite and the finance leadership team.
Essential Duties & Responsibilities
• Oversee and lead inter-period tax provision and allocation under ASC 740 (fka FAS 109 and FIN 48) standards, recording of temporary and permanent differences in income for financial and tax purposes and the maintenance of deferred tax calculations for domestic and international operations.
• Reconciliation and validation of income tax accounts (P&L) and balance sheet tax accounts, including various income tax disclosures.
• Obtain an end-to-end understanding of Quest’s income tax accounting and reporting process and dependencies, and drive improvement where necessary.
• Lead and manage internal control environment for documentation areas and processes, including SOX 404 activities and documentation.
• Ensure all process steps meet required standard and timelines.
• Liaise with the relevant stakeholders internally and externally for all income tax accounting matters.
• Execute continuous improvement and efficiency with tax accounting processes. Coach and develop the team to drive process improvement.
• Supervise a team of 3 people who assist with the preparation of the tax provision each quarter.
• Ensure best practices are employed to efficiently gather, use, document and maintain the supporting tax documentation in line with applicable law and regulations.
• Provide tax accounting expertise and impacts for any planning and compliance issues that arise.
• Direct tax accounting and financial disclosures for the quarterly and annual ASC 740 process across the organization, including maintenance of the SOX 404 compliance and communications with the external auditors and internal audit team.
• Conduct quarterly and monthly meetings with auditors.
• Prepare annual footnote and ABP 23 position documentation.
• Prepare annual and quarterly memorandum to document any key positions for the provision.
• Lead and present tax accounting positions in cross functional monthly and quarterly touchpoint meetings.
• Work closely and collaboratively with the CAO and Accounting department to ensure alignment during the close process.
• Identify tax risk areas and work with other functional areas to ensure appropriate steps are taken to minimize tax risk.
• Play an integral role in building a results-oriented tax function to ensure that Tax Department goals are achieved through the development of professional staff and foster a collaborative, team-based work environment which provides supervision and development opportunities for professional tax staff.
• Maintain strong relationships with external auditor and advisors. Interface with outside tax consultants in the exchange of information on tax issues.
• Innovative driver of change with the technical and leadership capabilities to manage several complex calculations under a tight timeframe.
• 15+ years progressive strategic tax experience within a large multinational corporate tax department handling complex federal, state and international tax issues and analysis.
• Big Four Accounting Experience a must.
• Supervisory experience required.
• Excellent analytical, technical and tax accounting/technology skills with proficiency in US GAAP, tax compliance and corporate consolidation returns, consolidated federal returns and combined state tax returns.
• Experience with and comprehensive understanding of complex tax accounting matters.
• Excellent management and leadership skills and demonstrated success in leading, developing and mentoring a group of tax professionals.
• Demonstrated understanding of the business implications of key actions and decisions as they relate to tax accounting.
• Ability to handle and manage change in a proactive way: a strong team player who generates enthusiasm, collaboration, credibility and commitment.
• Must have excellent tax research, written and verbal communication skills, financial and business acumen, and keen analytical skills.
• Experience with TCRS a plus.
• A Bachelor’s degree in Accounting and CPA are required.
• A Master’s degree in Accounting or Taxation is strongly preferred.
About Quest Diagnostics
Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest Diagnostics annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our nearly 50,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives.
The company offers the broadest access to diagnostic testing services through its network of laboratories and patient service centers and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics also provides services to employers, life insurance companies, other commercial labs, clinics, health plans, government agencies, and organizations involved in clinical trials research.
• FORTUNE magazine's "World's Most Admired Companies" list for 8 consecutive years; one of only five companies to attain Most Admired status in the "Health Care, Pharmacy and Other Services" industry category.
• Fortune magazine’s Fortune 500 list
• Forbes Global 2000
• Forbes' America's Best Employers List for third consecutive year
• Forbes 2020 America’s Best Employers for Women for second consecutive year
• S&P 500
• Barron’s 500
• Member of the Dow Jones Sustainability World Index
• Included in the FTSE4Good, Calvert, and Ocean Tomo sustainability indices
• Listed in the most recent Newsweek Green Rankings
• Consistently named one of the best places to work in U.S. business journal rankings
• Named a DiversityInc Noteworthy Company for third consecutive year
• Listed on the Disability Equality Index (DEI), a joint initiative of the American Association of People with Disabilities (AAPD) and the US Business Leadership Network (USBLN), recognizing companies for prioritizing the inclusion of people with disabilities
• Named Top 23 ‘Best Places to Work for LGBTQ Equality’ in New Jersey
• Named a Best Place to Work for LGBTQ Equality by scoring a perfect 100 on the Human Rights Campaign Foundation’s 2021 Corporate Equality Index (CEI) for the fifth consecutive year.
• Achieved Cancer Gold Standard accreditation from the CEO Roundtable on Cancer, recognizing our actions to reduce the cancer risk of employees and their families
• Received C. Everett Koop National Health Award for Efforts to Promote Employee Health in 2020
Diagnostic Testing Services
Quest Diagnostics is the world’s leading provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. Their services range from routine blood tests — such as total cholesterol, Pap testing and white blood cell count — to complex, gene-based and molecular testing. They perform medical tests that aid in the diagnosis or detection of diseases, measure the progress or recovery from a disease or confirm that an individual is free from disease. In addition, they have specialized expertise in cancer, cardiovascular diseases, infectious diseases, and neurology.
About COVID-19 testing at Quest Diagnostics
Quest Diagnostics is at the forefront of the response to the COVID-19 pandemic, working to broaden access to laboratory insights to help us all lead healthier lives. We provide both molecular diagnostic and antibody serology tests to aid in the diagnosis of COVID-19 and immune response. Our COVID-19 test services are based on tests that have received FDA emergency use authorization and which also meet our high standards for quality. We are providing these test services under the Public Readiness and Emergency Preparedness Act.
We provide data on COVID-19 testing to various federal and state public health authorities, including the Centers for Disease Control and Prevention, and participate in studies with government and private institutions, aiding COVID-19 public health response and research. Through our team of dedicated phlebotomists, air fleet team, couriers and laboratory professionals, Quest Diagnostics works hard every day to help patients and communities across the United States access quality COVID-19 testing.
In the $60 Billion and growing US Diagnostic Testing Market, Quest Diagnostics is the leader. Quest Diagnostics’ reputation as a leading innovator, provider of high value, low cost solutions and its financial strength and flexibility make it well positioned to capitalize on the evolving healthcare landscape.
Quest Diagnostics’ long-term strategy is to become the undisputed world leader in diagnostic testing, information and services. To drive this profitable growth, Quest Diagnostics plans to leverage capabilities to create differentiation:
• Deliver Innovative Solutions
• Leverage their Unparalleled Access and Distribution Network
• Expand their relationships with large payors and health systems
• Deliver Superior Patient Experiences
Please log in or register to upload a resume and complete the online application by visiting careers.questdiagnostics.com, clicking “Job Search” and following the prompts. Because of the large number of applicants to job openings, Quest Diagnostics will only contact qualified candidates for interviews.
Quest Diagnostics is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, or disability status.