Financial Analyst Senior

University Of Michigan - Ann Arbor, MI

Full-time - Mid Level

Remote - Ann Arbor, MI

Educational Services

About the position

The Financial Analyst Senior position at the University of Michigan's Information and Technology Services (ITS) is a critical role within the ITS Finance team. This position is designed for an experienced financial analyst who will contribute to the financial management of IT systems and services that support the university's academic, research, and administrative functions. The successful candidate will be responsible for analyzing financial reports against budgets, conducting strategic analysis for decision-making, and tracking monthly service costs to identify areas for process enhancement. The role also involves performing audits to control expenditures and assess business activity costs, as well as converting complex data into clear, concise reports for analytical studies. In this role, the Financial Analyst Senior will prepare reports, attend departmental meetings for financial feedback, and train non-financial staff in cost management. The analyst will engage in strategic planning, analyze cost variances, and examine data to enhance operational efficiencies. Ensuring accuracy in revenue and expenditure transactions, performing variance analysis, and investigating financial discrepancies are also key responsibilities. The analyst will develop consultations with management for sound financial recommendations and will be expected to understand and apply current policies, industry standards, and university guidelines. The position requires strong interpersonal skills, as the analyst will need to effectively communicate and work with a variety of individuals and units. The ability to develop complex financial models, interpret sensitive financial data, and deliver excellent customer service is essential. The Financial Analyst Senior will also need to adapt to rapidly changing work assignments and priorities, demonstrating problem-solving skills and accountability in guiding ITS business decisions. This role reports directly to the Director of Finance and Human Resources, and it plays a vital part in ensuring that the financial operations of ITS align with the university's goals and standards.

Responsibilities

• Analyze financial reports against budgets and recommend operational improvements.
• Conduct strategic analysis for decision-making and forecasting.
• Track monthly service costs to identify areas for process enhancement.
• Perform audits to control expenditures and assess business activity costs.
• Convert data into clear, concise reports for analytical studies.
• Prepare reports, attend departmental meetings for financial feedback, and train non-financial staff in cost management.
• Track budgets, engage in strategic planning, and analyze cost variances.
• Examine data to enhance operational efficiencies and recommend procedural improvements.
• Ensure accuracy in revenue/expenditure transactions and perform variance analysis.
• Investigate financial discrepancies and coordinate with ITS Finance for accurate cost forecasting.
• Develop consultations with management for sound financial recommendations.
• Understand and apply current policies, industry standards, and university guidelines.
• Analyze financial performance and report findings to management; create ad hoc reports.
• Review financial transactions, initiate corrections, and communicate findings to management.
• Monitor account reconciliations and support financial requests with detailed business cases.
• Demonstrate problem-solving, accountability, and communication in guiding ITS business decisions.
• Lead or assist in projects, provide reports, and explain findings.
• Utilize leadership and strategic thinking to contribute to planning, setting priorities, and ensuring project completion meets organizational goals and quality standards.

Requirements

• A Bachelor's degree in business administration, finance or related field with thorough understanding of accounting and financial principles.
• Five (5) or more years of progressive experience as an accountant, financial or business analyst, budgeting, forecasting and financial analysis, including some experience with fund accounting or related experience.
• Strong interpersonal skills including the ability to effectively communicate and work with a variety of individuals and units.
• Strong verbal and written communication skills.
• Proficiency with word processing, financial spreadsheets, and collaboration applications.
• Demonstrated experience/ability to develop complex financial models and analyze complex data.
• Ability to interpret and communicate sensitive financial data and complex issues to a varied audience through advanced writing skills and/or clearly developed presentations skills - including preparation of business cases and proposals.
• Ability to interpret financial data and provide solutions.
• Ability to deliver great customer service.
• Ability to adapt to rapidly changing work assignments and priorities.

Nice-to-haves

• Understanding of ERP systems including the ability to retrieve required data using data warehouse query tools.
• Experience in a higher education business setting, particularly knowledge of University of Michigan policies and systems.
• Knowledge of fund accounting principles.
• Familiarity with Federal A-21 requirements.

Benefits

• Generous time off
• A retirement plan that provides two-for-one matching contributions with immediate vesting
• Many choices for comprehensive health insurance
• Life insurance
• Long-term disability coverage
• Flexible spending accounts for healthcare and dependent care expenses
• Dental and Vision Insurance
• Parental and Maternity Leave