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You are here: The Job Explorer > Job Description > Financial Analyst Principal

Financial Analyst Principal Duties and Responsibilities

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Purpose of Classification:

Establishes control procedures, accounting and reporting systems to provide specialized financial and cost accounting information to various users on request. Performs detailed cost and financial analyses. Develops and interprets detailed cost accounting information and makes recommendations regarding the efficient utilization of resources and the proper accounting for transactions. Assists University administration in the analysis, development and integration of new or revised institutional policies and procedures. Supervises professional staff in performing duties. Coordinates multiple project activities. Exercises broad discretion and creativity as to work details on assignments of a varied, diverse and difficult nature. Solves complex technical and managerial problems utilizing an understanding of interrelationships with other aspects of the services to administrators, faculty and staff throughout the University.

Distinguishing Characteristics:

This is third in a series of three classifications. It is distinguished from the Financial Analyst Senior in those incumbents are responsible for management of a functional area and coordinate multiple projects simultaneously, whereas the Financial Analyst Senior has responsibility for a single major project. In addition, incumbents are responsible for managing professionals from multiple departments in the completion of projects, whereas the Financial Analyst Senior is only responsible for managing professionals from within their department. Assumes management responsibility for specialized, complex, or large financial analyses assignments where overall impact is great.

Examples of Duties:

  • Plans, coordinates and reviews the work of assigned personnel during all phases of rate development; develops recovery rates (e.g., recharge, indirect cost, and aids in their implementation; supervises preparation of related reports.
     
  • Supervises system design and implementation; determines input/output requirements for sophisticated cost accounting or other specialized reporting systems.
     
  • Oversees the provision of advisory services with respect to updating billing rates and interpreting cost accounting data; recommends alternative solutions to cost accounting problems.
     
  • Researches and evaluates pertinent professional, technical and related legal literature to establish and/or recommend changes to accounting procedures and operations.
     
  • Performs or supervises specialized financial or cost analyses (e.g., cash-flow analyses, "what-if" analyses); prepares or supervises the preparation of related reports (e.g., pro-forma financial statements).
     
  • Performs or supervises reviews of financial and internal controls to determine whether such controls are adequate to (a) meet management objectives and (b) ensure the safeguarding of assets; recommends and implements security and system control procedures
     
  • Performs or supervises interviews of employees at all levels to analyze policies, work procedures and operational methods.
     
  • Advises management with respect to internal costing practices and compliance with federal and state regulations.
     
  • Performs and/or supervises examinations of the adequacy and effectiveness of management practices and policies; recommends changes to enhance operating efficiencies.
     
  • Supervises subordinate personnel including motivating, training, and delegating assignments; monitors performance and conducts performance evaluations; takes disciplinary/corrective action; recommends salary increases and promotions as well as hiring and firing of personnel.
     
  • Conducts meetings to encourage interaction and the exchange of ideas, concerns and proposals from various organizations to facilitate solutions to administrative problems.
     
  • Provides technical advice and management advisory services pertaining to diverse and complex problems as requested by University departments.

Knowledge, Skills and Abilities:

  • Knowledge of cost and financial accounting principles, practices and procedures.
     
  • Knowledge of principles and techniques used in conducting management studies, system analyses, and financial analyses.
     
  • Knowledge of internal control systems and procedures.
     
  • Knowledge of supervisory practices and principles.
     
  • Skill in performing complex numerical calculations.
     
  • Skill in performing complex management reports on a timely basis.
     
  • Skill in the use of personal computers and related financial and statistical software products.

Minimum Qualifications:

Bachelors' degree with a major in Accounting, Finance or related area (or a Bachelor's degree with advanced accounting coursework) AND six years of auditing, cost accounting and/or financial analysis experience; OR, Ten years auditing, cost accounting education with financial analysis experience; OR, Any equivalent combination of experience and/or education from which comparable knowledge, skills and abilities have been achieved.

 

Next: Financial Analyst Senior Job Description

 

 


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