The Corporate Financial Reports and Plans (FR&P) Department is seeking qualified undergraduate and graduate students for its summer internship program. FR&P is a department within the Finance & Accounting function and includes:
- Corporate Accounting – Provides proper accounting and accruals for benefit areas such as health care, pension and disability. Prepares and files all external benefit financials. Maintains and issues enterprise-wide accounting and auditing procedures manual.
- External Reporting – Prepares and files all external financial filings and supports Investor Relations for quarterly earnings release. Researches and writes technical memos.
- Reporting & Consolidations – Maintains 30+ general ledgers of corporate type entities. Also performs monthly consolidation of UPS results and prepares reports for senior management.
- Corporate Planning – Prepares quarterly profit plan to forecast consolidated results.
- Financial Information Systems (FIS) – Supports and maintains financial reporting and planning applications.
The internship is designed to give students the opportunity to gain exposure to a variety of different Finance & Accounting areas, including accounting, financial analysis, reporting and planning.
Other Duties
Corporate Accounting
- Prepare draft health benefit plan financial statements ensuring proper supporting documentation and associated Department of Labor Filing Requirements (i.e., Form 5500)
- Prepare reconciliation of benefit general ledger accounts
- Prepare month end journal entries
- Assist with development of benefit rates for quarterly and annual profit/business plans
- Support benefit plan audit requests from internal and external auditors
- Support data analytics with respect to health care claim trends
- Assist in the creation of new and/or update existing accounting policies and procedures
External Reporting
- Summarize accounting records to compile external reports to meet statutory financial reporting requirements – including SEC Form 10-Q or 10-K
- Assist with the preparation of internal financial reports
- Research and document the appropriate accounting treatment of transactions based on Generally Accepted Accounting Principles (GAAP)
- Maintain process documentation of internal controls over financial reporting for SEC filings and other processes
- Prepare or coordinate support for requests from internal or external auditors
Reporting & Consolidations
- Coordinates with other departments to ensure monthly close is completed by the deadline
- Prepares monthly journal entries and financial checks to ensure errors are identified timely
- Prepares fixed asset inventory for Corporate functions
- Consolidates financial results and eliminates intercompany activity
- Creates consolidated financial reports for senior management
- Completes monthly account reconciliations to ensure balances are accurate
Corporate Planning
- Creates business planning templates
- Assists in development, maintenance, and improvement of managerial reports
- Assists in variance analysis of financial results
- Provides ad hoc financial analysis for management team
Financial Information Systems
- Establishes regular system checks to identify system irregularities
- Performs data mining and analysis in Access, Excel, and other financial applications
- Establishes and evaluates business requirements for enhancement requests
- Tests resolutions in a user acceptance testing environment to ensure goals are achieved
- Provides details, test cases, and necessary support files to ensure information is available to vendors for resolution
- Communicates with key stakeholders to discuss plans for systems and system capabilities