Financial Analyst II
University of Rochester
As a community, the University of Rochester is defined by a deep commitment to Meliora - Ever Better. Embedded in that ideal are the values we share: equity, leadership, integrity, openness, respect, and accountability. Together, we will set the highest standards for how we treat each other to ensure our community is welcoming to all and is a place where all can thrive.
Job Location (Full Address):
150 Metro Park, Suite C, Rochester, New York, United States of America, 14623Opening:
Worker Subtype:
RegularTime Type:
Full timeScheduled Weekly Hours:
40Department:
400982 Neuro-Ctr Health & Tech/CMSUWork Shift:
UR - Day (United States of America)Range:
UR URG 110Compensation Range:
$60,431.00 - $84,603.00The referenced pay range represents the minimum and maximum compensation for this job. Individual annual salaries/hourly rates will be set within the job's compensation range, and will be determined by considering factors including, but not limited to, market data, education, experience, qualifications, expertise of the individual, and internal equity considerations.
Responsibilities:
GENERAL PURPOSEConducts specialized and highly complex analysis of financial data in support of various finance functions. Responsible for providing senior management with the analysis and information they need to make timely operational, financial, and strategic decisions. Conducts specialized and highly complex analysis of financial data in support of the various Finance functions, identifying and researching material variances by working with related entity personnel. Reviews and evaluates accounting policies and procedures for efficiency, accuracy, and compliance with generally accepted accounting principles (GAAP).
ESSENTIAL FUNCTIONS
Financial Reconciliation, Reporting and Analysis
- Perform analyses of accounts to confirm completeness and accuracy of data; use judgment as to whether statements are reasonable; initiate corrective actions as appropriate.
- Generate and analyze monthly financial reports from UR financial systems to complete monthly reconciliation.
- Compute and compile monthly financial reports such as profit and loss statements, revenue and expense projections.
- Reconcile all salary and non-salary transactions on all CMSU accounts on a monthly basis and update financial dashboards, by project for Management review.
- Monthly will review time and effort experience reporting against budgets to determine variances and provide reports to management for reconciliation with staff prior to the close of the reporting period each month.
- Perform project close-out and work with the Office of Research Accounting and Costing Standards to justify revenue and expenses on a project specific basis.
- Consult with internal and external auditors on matters such as definition and classification of accounts, accounting activity, and other technical aspects of the accounting system.
- Perform ad-hoc financial analyses at management or sponsor’s request.
- Build relationships with key sponsor staff for reporting and follow up on collecting payments.
- Meet with various PIs weekly/monthly to review budgets, expenses and status of contracts/amendments.
- Perform cost finding analyses for use in recommending rates for redistribution of costs or recovery from sponsored programs.
Financial Transactions and Encumbrance
- Manage and submit journal entries to allocate service center rates based on time and effort.
- Examine documents to verify that transactions are properly supported in accordance with University policy and procedures; exhibit and summarize supporting findings; recommend solutions or initiate corrective action, as appropriate.
- Design financial reports reflecting fiscal operations; interpret trends and project data into the future; prepare reports for submission to Federal and State agencies, sponsors, etc. regarding status of sponsored projects.
- Update encumbrances and transactions into U of R's encumbrance accounting system.
- Determine financial accounts and spend codes to ensure proper accounting of expenditures and take corrective action as necessary.
- Develop and maintain a complete and systematic set of records of department financial transactions.
- Recommend improvements and changes in policy and procedures in the accounting system(s) and workflows and document them.
- Track all personnel time & effort to ensure billing covers our costs.
- Make monthly JEs to put time & effort into the financial system(s).
- Make any other necessary JEs to make sure expenses are correctly allocated.
Budget and Proposal Generation
- In collaboration with leadership, create budgets and proposals for new projects and ensure all necessary approvals are in place.
- Participate on calls and meetings with new collaborators to gather the needed inputs for generating the budgets and proposals.
- Monitor funds, establish accounting classifications, prepare reports in the status of such funds for department, and develop systems of controls.
- Uses historical data and experience to help enhance the methods of budgeting and billing to reduce cash flow delays.
- Participate in CMSU Management meetings and take new information about production challenges, monitoring the unexpected frequency, pack out and shipment configurations of clinical supply receipts against the planned receipts in the budget Proposals, calculate that impact and generate budget amendments, as needed for work that is out of scope. Utilize best practices to present alternative budgeting methodologies that adhere to various UR and Government regulations/requirements.
. Purchasing and Inventory Control of Consumables
- Liaise with Vendors, Purchasing, and Accounts Payable on behalf of the CMSU to execute purchase orders with vendors.
- Review quotes and invoices, manage payments, and maintain transparent reporting on purchase orders.
- Advise on purchases, with demonstrated knowledge of purchasing policies and procedures.
- Prepare appropriate documents for purchases.
- Manage and process Purchase Card charges and allocate to correct accounts.
- Assist CMSU Operations in forecasting departmental needs based on established clinical plans for the ordering of all packaging components critical to the assembly of finished study supplies.
- Make necessary adjustments to computer-based inventories to reflect accurate stock levels.
Other projects and job duties as assigned
- Bachelor’s degree in finance functional area Required
- 2 years related experience or equivalent combination of education and experience. Required
- Experience in the use of the financial tools within Workday.
MINIMUM EDUCATION & EXPERIENCE
- Bachelor's degree in finance functional area and 2 years related experience required
- Or equivalent combination of education and experience
KNOWLEDGE, SKILLS AND ABILITIES
- Advanced computer skills, including spreadsheet analysis using Excel. Required
- Able to learn UR financial software (Workday, UR GEMS, Office Suite) Required
- Excellent interpersonal and communication skills, including written communication. Required
- Ability to work well in a team environment where all work products are reviewed and approved before any work product leaves CMSU. Required
- Strong attention to detail, organizational skills, and ability to multi-task in a fast-paced environment. Required
- Must be able to work with director supervisor and dotted line management to support business needs. Required
The University of Rochester is committed to fostering, cultivating, and preserving an inclusive and welcoming culture to advance the University’s Mission to Learn, Discover, Heal, Create – and Make the World Ever Better. In support of our values and those of our society, the University is committed to not discriminating on the basis of age, color, disability, ethnicity, gender identity or expression, genetic information, marital status, military/veteran status, national origin, race, religion, creed, sex, sexual orientation, citizenship status, or any other characteristic protected by federal, state, or local law (Protected Characteristics). This commitment extends to non-discrimination in the administration of our policies, admissions, employment, access, and recruitment of candidates, for all persons consistent with our values and based on applicable law.