Senior Financial Analyst
Senior Financial Analyst
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Job Description
Title: Senior Financial Analyst
Employee Classification:Other Professionals
Institution:System Office
Department: Business and Finance
Campus Location: Tennessee Board of Regents System Office
Job Summary
The department of Business and Finance at the Tennessee Board of Regents (TBR) supports the System Office the Community Colleges and Technical Colleges of Applied Technology (TCATs) within the following functional areas: Human Resources Payroll Finance Budget Accounting Procurement & Payment Services Services Center Information Technology and Facilities Administration.
The Senior Financial Analyst is responsible for performing financial analysis on colleges financial statements budgets and other financial data for the purpose of monitoring and reporting on the financial health of the colleges. This will include calculating and analyzing the Composite Financial Index (CFI) and the various ratios that comprise the CFI as well as other financial trends. The Senior Financial Analyst will identify colleges that need additional monitoring and when necessary will ensure that corrective action plans are developed and implemented. The position will also monitor select special sources of funding such as special state appropriations to help ensure compliance with spending requirements. The Senior Financial Analyst will also assist with financial policy development. The position will also develop and provide training on various aspects of financial operations.
The Senior Financial Analyst works closely with the community colleges TCATs and central office staff. This position may have the opportunity to work remote within the state of Tennessee but with periodic visits to the TBR System Office (Nashville TN) at the employees expense and potential travel to Tennessee TBR colleges may be necessary.
Job Duties
- 20% - Financial Performance Analysis and Monitoring Calculates and evaluates the CFI and supporting ratios for 40 colleges. Calculates and evaluates trends in various fund balances over time. Calculates and evaluates trends in various accounts over time such as revenues accounts receivables etc. Prepares reports related to the financial performance of each college and in aggregate for all colleges. Prepared materials needed to inform the Board of the financial performance of our colleges and provides communication to Board members on behalf of the Executive Vice Chancellor as requested. Ensures colleges if necessary prepare financial performance improvement plans and monitors the implementation of the plans Regularly communicates with administrators at the colleges regarding their financial condition and serves as the liaison between the colleges and the System Office on finance monitoring offering suggestions as appropriate. Develops and performs any training as needed. - (Essential)
- 20% - Budget Analysis and Monitoring Reviews various revenue and expenditure budgets including methodology for reasonableness and trends. Prepares and reviews various budget to actual comparisons for reasonableness and trends. Develops and performs any training as needed - (Essential)
- 10% - Financial Statement Review Reviews preliminary financial statements and related note disclosures and other required supplementary information for universities and community colleges to ensure compliance with generally accepted accounting principles (both GASB and FASB accounting standards) to avoid publishing financial reports with misstatements or providing inaccurate information to the State for inclusion in the States Comprehensive Financial Annual Report. Advises the universities and community colleges when items are not in compliance and recommends revisions to achieve compliance. - (Essential)
- 15% - Budget Review Reviews preliminary budgets for universities and community colleges for compliance with TBR policies guidelines and state statutes and advising budget directors of items of noncompliance. Recommends revisions to budget directors to achieve compliance and avoid publishing budgets with errors or providing inaccurate data to the State for inclusion in the Governors Budget. Supervises Financial Analyst that is responsible for submitting required THEC operating budget reports which THEC uses to report budget data to their Commission members and the States Department of Finance and Administration - (Essential)
- 10% - Policy Will assist the Associate Vice Chancellor for Finance with policy development includes researching best practices and current trends Monitors compliance with various financial policies Develops and performs any training as needed - (Essential)
- 15% - Special funding sources Monitors to ensure compliance with spending requirements Supervises Special Appropriation/Grant Accountant Follows up with colleges as necessary - (Essential)
- 5% - Reporting Prepares any ad hoc reports - (Essential)
- 5% - Other Duties - (Marginal)
Minimum Qualifications
Bachelors degree in accounting business or related field
8 years of accounting or auditing experience
Preferred Qualifications
Certified Public Accountant (CPA)
Experience working in accounting or auditing in a college or university
Experience in accounting or auditing at a TBR institution
Experience with Banner or similar ERP system
Proficient with the use of Microsoft products
Knowledge Skills and Abilities
In-depth knowledge of college and university accounting and budgeting
Knowledge of financial reporting requirements of GASB and FASB
A willingness and passion to learn new hardware and software systems that are consistent with duties
Ability to effectively analyze data and inquiries think critically and make appropriate recommendations
Effective organizational and time management skills
Ability to work as part of a team or work alone without close supervision
Strong interpersonal skills
Ability to communicate effectively both in writing and orally
Physical Demands / Working Conditions
Required Experience:
Senior IC
Employment Type
Full-Time
