Financial Analyst: College of Arts & Sciences - UTK

The Financial Analyst position is part of the finance and HR leadership team in the College of Arts and Science (CAS), overseeing financial management through high-level forecasting, financial analysis, and financial modeling, and ensuring CAS compliance with University fiscal policy, as well as State and Federal regulations. Additionally, this position will establish training for CAS departments and develop policies and processes related to financial management and compliance for departments to follow.

This position is part of the finance and HR leadership team in the College of Arts and Science (CAS), overseeing financial management through high-level forecasting, financial analysis, and financial modeling, and ensuring CAS compliance with University fiscal policy, as well as State and Federal regulations. Additionally, this position will establish training for CAS departments and develop policies and processes related to financial management and compliance for departments to follow.

Forecasting and Scenario Modeling:

• Proactively analyze data for trends to inform decisions, preparing customized managerial and financial reports and providing analysis of reports used for strategic decision making

• Develop financial forecasts for projected year-end revenue totals, direct expenditures, key expenditures such as financial aid and waivers; update forecasts monthly to keep CAS leadership up-to-date on year-end projections for operating margins, surpluses or deficits, and reserve balances

• Develop and maintain long-range (five year) plans; make periodic adjustments as required due to changing operating expectations, shifting university strategic priorities, or external economic conditions

• Develop and maintain various planning scenarios as requested by CAS leadership, such as enrollment figures significantly above or below target expectations, implementation of new academic programs, or possible impacts of increasing online courses and enrollments

• Develop and implement creative alternative solutions to reduce costs and improve financial performance

• Analyze and produce actuals vs budget variance reports on revenue sources, personnel expenditures, operating expenses, allocated expenses from support units, support from endowment and gift accounts, and reserve fund balances, moving charges as needed to align with intended uses and to ensure appropriateness of expenditures

• Evaluate income and expenses to make high level recommendations for adjustments to maximize use of fiscal resources

• Provide expert advice and guidance to CAS leadership regarding the impacts and implications of the variance analyses

• Manage multi-year commitments to and from the college to ensure forecasts are accurate

Audit & Fiscal Compliance:

• Audit college and departmental accounts to ensure compliance with fiscal policies including account reconciliations, variance analyses, etc., initiating financial adjustments as needed to bring accounts into compliance with approved spending policies

• Audit labor schedules and distributions within the college to reduce items going to the clearing account and ensure timely clearance of items that have hit the clearing account, establishing College policies to ensure practices align with campus priorities related to the management of labor distribution

• Develop and produce analytical reports to determine areas where improvement is needed in the areas of fiscal compliance, initiating corrective measures where needed to bring units into compliance

• Serve as the primary fiscal compliance expert for the entire college, including directing department staff on appropriate processes and using sound judgment to determine when exceptions to policy should be requested, establishing College processes for how exceptions may be requested and having independent authority to advance or deny requests

 

Leadership:

• Serve as part of the financial leadership team, providing recommendations for financial and strategic planning within the new budget model, anticipating problems and collaborating with the Director of Finance and HR and the Assistant Director for valid and appropriate solutions

• Develop and implement a financial training plan for all department staff, especially related to unit financial management, labor distribution, fiscal policy, and variance analysis

• Serve as subject matter expert for departments and oversee departmental financial compliance with UT policies and procedures, establishing policies for departments to follow related to financial compliance

• Supervise Financial Administrator, setting goals, performing evaluations, and determining if corrective action is needed to improve performance

Required Qualifications

• Educ