Financial Accounting and Reporting Analyst

University of Illinois - Urbana, IL

Full-time - Entry Level

Hybrid - Urbana, IL

Educational Services

About the position

The Financial Accounting and Reporting Analyst position at the University of Illinois - Urbana-Champaign is a full-time role that operates under the general administrative supervision of an Associate Director within University Accounting Services (UAS). This position plays a crucial role in ensuring the proper application of fund accounting guidelines within a public university setting in the State of Illinois. The analyst will be responsible for overseeing university accounting processes, completing fund and bank reconciliations, and assisting with various accounting functions related to different fund types, including self-supporting funds. Additionally, the analyst will provide guidance to university units for the annual unrelated business income tax (UBIT) return and ensure compliance with university, state, and federal policies and guidelines. The role involves preparing and completing system-wide bank reconciliations, investigating any discrepancies, and ensuring that appropriate correcting entries are made. The analyst will also document procedural information to outline the accounting theory and procedural steps necessary for various operational accounting tasks. Furthermore, the analyst will assist in the review and approval of new Banner program codes to ensure compliance with the National Association of College and University Business Officers (NACUBO) guidelines and university policy. In addition to these responsibilities, the analyst will contribute to the university's annual UBIT return, participate in the year-end Fact Sheet process, and help identify and correct financial accounting errors. The position requires strong analytical skills to assess various Banner transactions and provide guidance on service plan funds and student enrollment deposit funds. The analyst will compile data for audit requests and prepare audit schedules related to self-insurance operating activity, contributing to special projects as assigned by management. Overall, this position is integral to maintaining the financial integrity and compliance of the university's accounting practices.

Responsibilities

• Prepare and complete several of UAFR's system-wide bank reconciliations, investigating errors and ensuring proper correcting entries are made.
• Document procedural information outlining the accounting theory and procedural steps necessary for various system-wide bank reconciliations and other essential operational accounting tasks.
• Assist with the review and approval of new Banner program codes to ensure compliance with NACUBO guidelines and university policy.
• Contribute towards the review and completion of supporting schedules for the university's annual Unrelated Business Income Tax (UBIT) return.
• Contribute to the year-end Fact Sheet process to convert cash-basis accounting activities to an accrual basis.
• Help units identify financial accounting errors and teach Banner users how to correct these errors.
• Analyze various Banner transactions to determine whether an accrual or deferral adjustment should be recorded.
• Provide guidance and oversight on service plan funds, including reviewing and processing requests for new funds.
• Provide guidance and oversight on issues related to student enrollment deposit funds, ensuring compliance with accounting guidelines.
• Compile data and supporting documentation to fulfill audit requests from external auditors during the annual financial statement audit.
• Prepare and complete the University's audit schedule related to self-insurance operating activity.
• Contribute towards special projects as assigned by University Accounting Services management.
• Perform other duties as assigned appropriate for a Financial Accounting and Reporting Analyst.

Requirements

• Bachelor's degree with a major in Accountancy or a related field AND two (2) years of professional level accounting experience.
• Possession of current registration as a Certified Public Accountant (CPA), Certified Management Accountant, or a valid license to practice Public Accounting (LPA).
• Master's degree in Accountancy or a related field.

Nice-to-haves

• Certified Public Accountant (CPA) certification.
• Certified Internal Auditor (CIA) certification.
• Certified Management Accountant (CMA) certification.
• Understanding of fund accounting principles and their application in a public university setting.
• Basic working knowledge of the Banner Finance module.
• Familiarity with Microsoft Access, including the ability to edit and run queries.

Benefits

• Salary is commensurate with experience.
• Hybrid/Remote eligible work options.