Title:
Budget & Financial Analyst
Department:
University Budgeting
Reports To:
Director, University Budget Planning and Analysis
Position Type:
Staff
Position Summary:
Under
the operational direction of the Director of University Budget Planning &
Analysis, the 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 models, and assisting personnel across the university in
the management of their budgets and the proper use of university financial
systems and tools.
Essential Functions:
1. Assists in the development, review,
and forecasting of various university operating budgets and scenarios.
Examples include:
– 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.
2. Develops, prepares and designs
reports as needed, identifying appropriate data sets and utilizing data from
multiple systems.
3. 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.
4. Ensure personnel budgets are within
approved and contractual parameters and address any variances with applicable
budget units.
5. In coordination with the Director,
meet regularly with the assigned division financial managers to review and
discuss overall budget status and detail.
6. Assist in the development of the
university’s annual budget, mid-year review process, and the annual budget
submissions to the State.
7. Review the Governor’s State Budget
and Appropriations Handbook to understand impact on university budget and
finances.
8. 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.
9. May participate in training
end-users on various financial systems as applicable.
10. Support audits and financial data
requests and surveys, ensuring timeliness and data integrity.
11. Participate in university
committees and/or special projects as required.
Additional Functions:
– Perform other duties as assigned.
Prerequisite Qualifications:
– Bachelor’s degree in Accounting,
Finance or related business field required.
– A minimum of two 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.
Bargaining Unit:
Non-Aligned
Range/Band:
13
FLSA:
Exempt
Full-Time
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