Recognized as one of Forbes 2024 "America's Best Large Employers" and named to the Forbes 2024 "Best Employers for Diversity", Labcorp is seeking to hire a Director of Capital Management.
Reporting to the SVP, FP&A, the Director of Capital Management is responsible for overseeing the company's Enterprise-wide capital process, which includes strategic planning, reviewing and vetting capital expenditure (CapEx) investment opportunities, budgeting and forecasting future anticipated CapEx spend, and analysis of actual CapEx spending compared to expectations. This role will be responsible for managing the capital process end-to-end, including communications across a wide range of stakeholders, identifying opportunities to enhance efficiency and standardization in the existing process, change management where needed, and partnering with other internal Finance stakeholders to improve visibility into project-level spend and provide forward-looking, data-driven insights to Executive leadership.
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In addition, given the importance of CapEx to free cash flow, this role is responsible for providing insights related to the Company's free cash flow more broadly, including associated budgeting, forecasting, reporting, and analysis of free cash flow.
This role will be a key contributor toward the Company's operational and strategic objectives, managing financial risks, and ensuring compliance with regulatory and accounting standards to support the organization's long-term financial goals.
This is a hybrid position requiring three days per week onsite at a Labcorp location.
The ideal candidate will reside in RTP, NC or surrounding area.
Key Responsibilities:
CapEx Process Management:
- Enhance and oversee a comprehensive CapEx management strategy that aligns with the company's financial, operational, and strategic objectives.
- Drive review, vetting, and evaluation of CapEx investment recommendations, partnering with stakeholders throughout the Company.
- Promote standardization and efficiency throughout the CapEx process, inclusive of clear and focused communications on CapEx investment business rationale and key financial metrics.
- Integrate the CapEx process into the Company's ongoing Enterprise Resource Planning system (ERP) transformation to Oracle Fusion Cloud.
CapEx Budgeting and Forecasting:
- Lead the budgeting process for capital expenditures and investments, estimated at over $500 million per year.
- Provide accurate financial forecasts that support updated expectations for capital spending.
- Conduct thorough analysis of actual capital spending compared to expectations.
- Provide periodic communications to the Capital Committee, other Executives and the Board of Directors on matters related to CapEx spending.
Free Cash Flow Budgeting and Forecasting:
- Lead the budgeting and forecasting process for the Company's free cash flow, which was over $1 billion in 2024.
- Work with other stakeholders, including Accounting, Tax and Treasury leadership, to improve visibility into the free cash flow of the Company.
- Provide accurate financial forecasts that support updated expectations for free cash flow, inclusive of explanations for modified expectations.
- Conduct thorough analysis of actual free cash flow compared to expectations.
- Track uses of free cash flow throughout the year, inclusive of CapEx investment, acquisitions, share repurchases, and dividends.
- Provide periodic communications to financial leadership, other Executives and the Board of Directors on matters related to free cash flow.
Financial Reporting and Compliance:
- Ensure all capital management and free cash flow activities comply with regulatory and accounting standards, as well as internal policies.
- Learn about the mechanics of CapEx spending through partnership with Accounting.
- Lead change management, where necessary, as the Capital process evolves over time, including integration of the CapEx process and project-level tracking tied to the Company's ongoing ERP transformation to Oracle Fusion Cloud.
Business Partnering and Stakeholder Engagement:
- Work with internal stakeholders to improve the quality of CapEx proposal submissions, diffuse best practices throughout the organization, and provide training sessions that bring efficiency to the Company's CapEx process.
- Engage with various internal stakeholders to obtain "voice of customer" feedback on the existing process and identify improvement opportunities.
- Communicate complex financial concepts clearly and effectively to various audiences.
- Develop relationships with, and manage CapEx-related communications across, a wide range of business leaders and Finance leaders (including the Enterprise CFO) to support timely review and approvals of CapEx proposals.
- Seek external industry benchmarks, over time, to apply best practices to the Company's processes in these areas.
Team Leadership:
- Manage and mentor team member(s) that are earlier in their career, creating a culture of continuous improvement and accountability.
Retrospective Analysis:
- Lead the Company's retrospective review of select CapEx investments to assess financial and business outcomes compared to expectations.
- Prepare summaries of lessons learned from retrospective analyses for Executive leadership and the Board of Directors to benefit future CapEx investment decisions.
Qualifications:
- Bachelor's degree in Finance, Economics, Accounting, Business Administration, or a related field; MBA or advanced degree preferred.
- Minimum of 10+ years of experience in capital management, investment banking, or a related financial field.
- Proven track record of successful experience in capital management and/or strategic planning.
- Strong analytical skills and the ability to interpret complex financial data and illuminate key takeaways.
- Excellent communication and interpersonal skills.
- Leadership experience with the ability to manage and develop high-performing team members.
- Proficiency in financial software and tools.
Skills:
- In-depth knowledge of financial statements and familiarity with key metrics related to CapEx spending and free cash flow.
- Effective business partnering skills, capable of engagement with wide range of internal stakeholders (e.g., IT, Operations, Finance - Tax, Treasury, Accounting, etc.)
- Strategic thinking and problem-solving abilities.
- Strong organizational skills; ability to be proactive with limited oversight.
- Ability to work under pressure and meet tight deadlines.
- High level of integrity and professionalism.
Benefits: Employees regularly scheduled to work 20 or more hours per week are eligible for comprehensive benefits including: Medical, Dental, Vision, Life, STD/LTD, 401(k), Paid Time Off (PTO) or Flexible Time Off (FTO), Tuition Reimbursement and Employee Stock Purchase Plan. Casual, PRN & Part Time employees regularly scheduled to work less than 20 hours are eligible to participate in the 401(k) Plan only. For more detailed information, please click here.
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Labcorp is proud to be an Equal Opportunity Employer:
Labcorp strives for inclusion and belonging in the workforce and does not tolerate harassment or discrimination of any kind. We make employment decisions based on the needs of our business and the qualifications and merit of the individual. Qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), family or parental status, marital, civil union or domestic partnership status, sexual orientation, gender identity, gender expression, personal appearance, age, veteran status, disability, genetic information, or any other legally protected characteristic. Additionally, all qualified applicants with arrest or conviction records will be considered for employment in accordance with applicable law.
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