Senior Budget & Financial Analyst

Title :

Senior Budget & Financial Analyst

Department : University Budgeting

University Budgeting

Reports To :

Director, University Budgeting & Financial Planning

Position Type : Staff

Staff

Position Summary :

Under the operational direction of the Director of University Budget Planning & Analysis, the Senior Budget & Financial Analyst is expected to support the mission of the University through prompt, thorough and continual analysis of NJIT's resources and expenditures, assisting in the development of annual and multi-year budget, and assisting university personnel in the management of their budgets and the proper use of university financial systems and tools.

The Senior Analyst will assist in the planning, design, and implementation of a strategic investment focused approach to budgeting by providing analysis for decision support.

Essential Functions :

• Assists in the development, review, and forecasting of various university operating budgets and scenarios. Examples included : On-going analysis of strategic plan priorities with continual focus on ROI and long-term operating budget impact;
• Analyze enrollment projections and develop detailed tuition / fee income models; Prepare revenue forecasts for various existing and proposed income streams;
• Analyze assigned unrestricted accounts to ensure that commitments are within budget allocations. Work with budgetary units to address imbalances;
• Analyze and report on restricted fund activities, including research and other sponsored activities, external funding / gifts, plant, and various agency funds;

Prepare budget analyses used to maintain overall budget control; including telephone equipment, utilities, insurance, debt service, adjuncts, graduate students, and student awards, etc.

Develops, prepares and designs reports as needed, identifying appropriate data sets and utilizing data from multiple systems.

Assist in developing financial P&L and budgets based on accountability by college or administrative unit; Assist in designing, developing and monitoring college, program and course level revenue and expenditure budgets and actual results using allocation methodology;

Responsible for collecting and organizing various university data to analyze and document allocation statistics for facilities and administrative cost pools.

Assist in the preparation annual Fringe Benefit rate proposal and the Facilities and Administrative (F&A) proposal to DHHS.

Analyze and accurately cost proposed salary increases being negotiated with various bargaining units. This will require a thorough understanding of existing labor agreements.

Ensure personnel budgets are within approved and contractual parameters and address any variances with applicable budget units.

In coordination with the Director, meet regularly with the assigned division financial managers to review and discuss overall budget status and detail.

Assist in the development of the annual budget, mid-year review, and the annual budget submissions to the State.

Review the Governor's State Budget and Appropriations Handbook to understand impact on university budget and finances.

Responsible for collaborating and consulting with leadership to conduct feasibility studies that align costs and benefits for new business proposals and monitoring KPIs to evaluate performance.

Manage and maintain the EBMS system reports for organizational changes and develop / design additional reports for inclusion within the EBMS system.

May participate in training end-users on various financial systems as applicable.

Support audits and financial data requests and surveys, ensuring timeliness and data integrity.

Assist in the development of the Budget & Financial Analyst staff through mentoring and on-going training.

Participate in committees and / or special projects as required.

Perform other duties as assigned.

Prerequisite Qualifications :

Bachelor's degree in Accounting, Finance or related business field required.

A minimum of five years of related professional analytical experience, preferably in a higher education environment.

Advanced knowledge of computer system software including web-based applications, web-based report writing packages, database, electronic spreadsheets, and word processing.

Preferred : Ellucian Banner, Cognos, Google suite, and Microsoft Office.

Strong presentation and communications skills for the purposes of explaining financial issues to a non-finance end-user.

At the university's discretion, the education and experience prerequisites may be accepted where the candidate can demonstrate to the satisfaction of the university, an equivalent combination of education and experience specifically preparing the candidate for success in the position.

As part of interview process, applicants will be expected to provide three writing samples.

Preferred Qualifications :

Master's degree in Finance, Accounting, or related business field.

Higher Education experience, ideally using an RCM or resource allocation-based budget model.

Experience at a public research university or other public institution.

Experience working with Cognos or similar reporting tool.

Experience working with Ellucian Banner or similar financial information system.

Experience with data analytic & data visualization software and tools.

Additional Information :

A hybrid work schedule is available for this position.

Bargaining Unit : Non-Aligned

Non-Aligned

Range / Band : FLSA :

FLSA : Exempt

Exempt

Full-Time

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