Description:
BCIT’s Financial Services department is seeking a temporary, full-time (1.0 FTE ) Senior Financial Analyst. This position works with and provides technical support to BCIT managers and the Manager, Payroll, Budgets and Analysis on the development and review of consolidated budgets, forecasts, analysis and reports. The position prepares and analyzes complex budgetary data, reviews and processes budget transfers, promotes new efficiencies and innovation within budgetary and forecasting process, and assists in the coordination of the Institute’s budget process.
Duties & Responsibilities
DUTIES AND RESPONSIBILITIES :
- Liaises with Operating Unit Managers (OUMs) and other internal stakeholders on budget, cost issues, and Institute budgetary policies and procedures; responds to requests, problem-solves, and prepares a variety of financial reports.
- Performs ongoing analysis of salary accounts and operating budgets and performs budget transfers as needed.
- Maintains position control number (PCN) system; reviews and approves requests for PCNs and ensures correct coding, approval and budget allocation.
- Assists in testing changes to the financial database, including analysis of data integrity.
- Reviews, approves and processes departmental budget change requests.
- Supports the budget process: Assists OUMs with budget preparation and analysis, evaluates OUM submissions, reviews revenue, salary, and non-salary change requests to ensure reasonableness.
- Compiles monthly consolidated forecast data for the operating and restricted funds, analyzes, summarizes and reports significant variances to the Manager, Payroll, Budgets and Analysis.
- Assists in the coordination of the forecasting process by communicating timelines, requirements and technical updates.
- Liaises with Information Technology Services (ITS) and the TM1 project team to ensure on-line systems and reports meet the needs of the internal stakeholders.
- Develops and delivers training for managers and groups on campus to promote understanding of the budgeting and forecasting process.
- Processes quarterly budget and forecast review by preparing analysis for review based on actuals, budgets and projections prepared by the OUMs.
- Reviews budget-related and position control functions and recommends procedural and policy changes as deemed necessary.
- Reviews, with the OUMs, anomalies in monthly revenues and expenditures (for all funds) and obtains explanations, and discusses possible solutions and preventative measures
- Verifies availability of funds, compliance with spending guidelines, and appropriate signatory for financial transactions.
- Trains new systems users and provides ongoing technical support to internal clients on the reporting systems.
- Reviews, processes, and maintains month-end restricted funds transactions and discusses possible resolutions and preventative measures.
- Reconciles operating budget and prepares budget upload financial information.
- Reviews requests for the creation of restricted funds; ensures documentation and recommendations are in place.
- Assists OUMs with annual budget development by providing guidance on completing the variance analysis and updating TM1 with corresponding budget adjustments/allocations.
- Participates on internal and working committees related to budget and records and compiles budget information as required.
- Assists in preparing the consolidated annual budget and quarterly forecast via reconciliation of budget and forecast submissions received from the OUMs.
- Assists in preparing and creating payroll reports to aid management and provides ad-hoc reporting as required.
- Assists with maintaining and reconciling payroll data elements to the budget to ensure consistency of application and calculation.
- Reviews requests for salary budget transfers and creation of new PCNs; ensures adequate payroll documentation is established.
- Ensures approved initiatives and annual budget are properly recorded and reconciled in TM1 and Banner.
- Initiates discussions on budget, forecast, position control or restricted fund problems/concerns with the Manager, Payroll, Budgets and Analysis.
- Acts on behalf of the Manager, Payroll, Budgets and Analysis during absences as appropriate.