Financial Operations Analyst

$72,000 - $82,000/Yr

Columbia University - New York, NY

Full-time - Entry Level

New York, NY

Educational Services

About the position

The Financial Operations Analyst position at Morningside's School of Engineering and Applied Science is a vital role that supports the financial operations of the department. Under the guidance of the Senior Manager of Finance and Operations, the analyst will collaborate closely with various departments to maintain, implement, and optimize standard business processes in alignment with university and government policies. This position is essential for ensuring that financial processes are executed efficiently and effectively, providing training to staff on these processes, and developing training materials that enhance understanding of financial operations within the school. The analyst will be responsible for the day-to-day 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). This includes verifying the accuracy of vouchers recorded in ARC and ensuring they are submitted correctly for departmental approval. The role requires a proactive approach to monitoring financial transactions, interpreting university accounting and purchasing policies, and communicating these policies to faculty, staff, and students. In addition to processing and reviewing financial documents, the Financial Operations Analyst will also engage in financial analysis and reporting, providing insights into budget variances and discrepancies. The position involves establishing and maintaining strong working relationships with various stakeholders, including faculty and university offices, to facilitate smooth financial operations and improve overall efficiency. The analyst will also play a key role in recommending process improvements and ensuring compliance with university expenditure policies.

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, including the creation of pivot tables and formulas (i.e. VLOOKUP).
• Familiarity with Columbia University's financial policies and systems is strongly preferred.

Nice-to-haves

• Experience with financial analysis and reporting in an academic setting.
• Knowledge of procurement processes and vendor management.
• Experience in training staff on financial processes and procedures.

Benefits

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