Financial Operations Analyst

$72,000 - $82,000/Yr

The Trustees Of Columbia University In The City Of New York - New York, NY

Full-time - Entry Level

New York, NY

Ambulatory Health Care Services

About the position

The Officer of Administration position at Columbia University is a vital role under the direction of the Senior Manager of Finance and Operations. The incumbent will collaborate closely with various departments to maintain, implement, and optimize Standard Business Processes in alignment with both University and government policies. This position is integral in providing relevant training to center and department staff on financial processes and procedures within the School of Engineering and Applied Science (SEAS). The Financial Operations Analyst will actively engage in updating and creating training materials that encompass financial content. Responsibilities include monitoring the daily processing of payments, procurement requests, journal entries, vendor management, and purchasing card transactions using the university's financial records system, ARC (Accounting and Reporting at Columbia). The incumbent will ensure the accuracy of vouchers recorded in ARC and submitted for departmental approval, which includes accounts payable, procurement requisitions, purchasing cards, and internal transfers. In addition to these tasks, the role requires collaboration with departments to facilitate transactions and communicate policy and procedural improvements. The incumbent will interpret and relay established university accounting and purchasing policies to faculty, staff, and students regarding travel and business expense reports, invoices, purchase orders, consultant contracts, and subcontracts. They will also be responsible for researching and reconciling discrepancies between external vendors and university stakeholders regarding payment requests. Establishing and maintaining strong working relationships with faculty, university offices, and colleagues across departments is essential. The incumbent will also make recommendations to enhance operational efficiency, develop procedures for implementing changes, and assist the Assistant Director of Procurement and Compliance in ensuring that all administrators and business officers are informed of these changes.

Responsibilities

• Monitor and analyze the School's day-to-day processing of invoices, Travel and Business Expense Reports via Concur, Procurement requests, Journal Vouchers, Vendor Management Onboarding (PaymentWorks), and Purchasing Card (P-Card) transactions in ARC.
• Verify the accuracy of vouchers recorded in ARC and those submitted for departmental approval and workflow processing in Accounts Payable, Procurement, and Controller's Office.
• Communicate policy and procedural improvements, interpret and communicate established University accounting and purchasing policies.
• Provide reconciliation of ARC statements on departmental projects against internal ledgers; prepare financial reports and other data analyses; identify and analyze budget variances and discrepancies as they relate to sponsored and non-sponsored projects; promote adherence to University and School expenditure policies.
• Process and review for accuracy and compliance check requests, stipends, invoices, travel reimbursements, and requisitions in ARC; Process transfers of monthly recurring journal allocations; provide emergency purchases utilizing the PCARD; process, review, and approve salary and cost transfers in PAC; liaison with departments processing payroll suspense; promotes adherence to University and School expenditure policies.
• Recommend and make changes to processes to resolve erroneous transactions.
• Research and liaise with vendors, Sponsored Project Administration, and Sponsored Projects Finance to resolve procurement issues identified by the Department through monthly report reconciliation and maintenance.
• Liaise with departments in streamlining processes related to procurement, project reconciliation on sponsored and non-sponsored projects, and budget to actual variance analysis.
• Provide procurement training in order to educate departments on efficient processes and promote adherence to University and School expenditure policies.
• Generate, analyze, and distribute financial reports as necessary, contributing to account reconciliation efforts, and undertake additional duties as assigned.

Requirements

• Bachelor's degree or its equivalent or an equivalent combination of education and experience 2 to 4 years of related experience in financial support.
• Knowledgeable about general financial and accounting practices including GAAP.
• Ability to communicate clearly and effectively with school-level senior leadership.
• Ability to quickly learn university electronic processing systems for purchasing and A/P, or have prior knowledge and experience with ARC.
• Strong attention to detail, organizational skills, and communication skills.
• Proficiency with data analysis in Microsoft Excel, and proficiency with other MS Office products such as Word.
• Positive, forward-thinking, mission-oriented attitude.
• Ability to read and interpret ARC financial reports.
• Familiarity with Columbia University's financial policies and systems is strongly preferred.

Nice-to-haves

• Familiarity with Columbia University's financial policies and systems.

Benefits

• Health insurance coverage
• Dental insurance coverage
• 401k benefit for retirement savings plan
• Paid holidays
• Professional development opportunities
• Flexible scheduling options