Financial Analyst Principal Duties and Responsibilities
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.
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
- 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
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
- Skill in the use of personal computers and related financial
and statistical software products.
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