Title:
Senior Budget & Financial Analyst
Department:
University Budgeting
Reports To:
Director, University Budget Planning and Analysis
Position Type:
Staff
Position Summary:
Under
the operational direction of the Director of University Budget Planning &
Analysis, the Senior Budget & Financial Analyst is expected to support
the mission of the University through prompt, thorough and continual analysis
of NJIT’s resources and expenditures, assisting in the development of annual
and multi-year budget, and assisting university personnel in the management
of their budgets and the proper use of university financial systems and
tools. The Senior Analyst will assist in the planning, design, and
implementation of a strategic investment focused approach to budgeting by
providing analysis for decision support.
Essential Functions:
1. Assists
in the development, review, and forecasting of various university operating
budgets and scenarios. Examples include:
– On-going analysis of strategic plan priorities with continual focus on ROI
and long-term operating budget impact.
– Analyze enrollment projections and develop detailed tuition/fee income models.
– Prepare revenue forecasts for various existing and proposed income streams.
– Analyze assigned unrestricted accounts to ensure that commitments are within
budget allocations. Work with budgetary units to address imbalances.
– Analyze and report on restricted fund activities, including research and
other sponsored activities, external funding/gifts, plant, and various agency
funds.
– Prepare budget analyses used to maintain overall budget control; including
telephone equipment, utilities, insurance, debt service, adjuncts, graduate
students, and student awards, etc.
2. Develops, prepares and designs reports as needed, identifying appropriate
data sets and utilizing data from multiple systems.
3. Assist in developing financial P&L and budgets based on accountability by
college or administrative unit.
– Assist in designing, developing and monitoring college, program and course
level revenue and expenditure budgets and actual results using allocation
methodology.
– Responsible for collecting and organizing various university data to analyze
and document allocation statistics for facilities and administrative cost
pools.
4. Assist in the preparation annual Fringe Benefit rate proposal and the
Facilities and Administrative (F&A) proposal to DHHS.
5. Analyze and accurately cost proposed salary increases being negotiated with
various bargaining units. This will require a thorough understanding of
existing labor agreements.
6. Ensure personnel budgets are within approved and contractual parameters and
address any variances with applicable budget units.
7. In
coordination with the Director, meet regularly with the assigned division
financial managers to review and discuss overall budget status and detail.
8. Assist in the development of the annual budget, mid-year review, and the
annual budget submissions to the State.
9. Review the Governor’s State Budget and Appropriations Handbook to understand
impact on university budget and finances.
10. Responsible for collaborating and consulting with leadership to conduct
feasibility studies that align costs and benefits for new business proposals
and monitoring KPIs to evaluate performance.
11. Manage and maintain the EBMS system reports for organizational changes and
develop/design additional reports for inclusion within the EBMS system.
12. May
participate in training end-users on various financial systems as applicable.
13. Support audits and financial data requests and surveys, ensuring timeliness
and data integrity.
14. Assist in the development of the Budget & Financial Analyst staff through
mentoring and on-going training.
15. Participate in committees and/or special projects as required.
16. Perform other duties as assigned.
Prerequisite Qualifications:
– Bachelor’s
degree in Accounting, Finance or related business field required.
– A
minimum of five years of related professional analytical experience,
preferably in a higher education environment.
– Advanced knowledge of computer system software including web-based
applications, web-based report writing packages, database, electronic
spreadsheets, and word processing. Preferred: Ellucian Banner, Cognos, Google
suite, and Microsoft Office.
– Strong presentation and communications skills for the purposes of explaining financial
issues to a non-finance end-user.
– At the
university’s discretion, the education and experience prerequisites may be
exempted where the candidate can demonstrate to the satisfaction of the
university, an equivalent combination of education and experience
specifically preparing the candidate for success in the position.
Preferred Qualifications:
– Master’s
degree in Finance, Accounting, or related business field.
– Higher Education experience, ideally using an RCM or resource
allocation-based budget model.
– Experience at a public research university or other public institution.
– Experience working with Cognos or similar reporting tool.
– Experience working with Ellucian Banner or similar financial information
system.
– Experience with data analytic & data visualization software and tools.
Bargaining Unit:
Non-Aligned
Range/Band:
11
FLSA:
Exempt
Full-Time
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