Professional Position Description Section I Position Information Update Only Position Title Senior Financial Planning Analyst Position # 999761 Department Financial Services Classification Level Excluded Professional C Reports to Manager, Financial Planning & Budgets Effective Date October 1, 2015 Position Summary Briefly describe the main purpose(s) of the position Classification Review Reporting to the Manager, Financial Planning & Budgets, the incumbent is responsible for overseeing and working with departments toward continuous improvement of departmental forecast submissions. The incumbent will assist in the review and analysis of the quarterly variance reports submitted by the departments and provide follow up where projections differ materially from the budget. The position will provide training and support to the university divisions/departments to enable them to continously improve the timeliness and accuracy of their forecasts. The incumbent will develop, maintain and update multi-year financial models to identify and monitor issues and trends. The incumbent will also provide assistance and guidance to budget holders in completing their annual budget submissions. The incumbent will assist in the generation and dissemination of financial and budget information and also participate on special projects related to financial sustainabiity. The incumbent will perform various accounting, analytical functions and tasks related to maintaining the budget data in the enterprise resource planning system (ERP) and Cognos Enterprise Planning System (CEP). Duties and Responsibilities Organize by key responsibility area and include % of time spent where possible Financial Planning, Analysis and Forecasting (45%) Develop and implement multi-year rolling forecast systems to accurately measure and evaluate results of operations, particularly on a departmental basis. Monitor results of operations, review reasonableness of departmental variance reports and prepare quarterly variance reports, revenue and expenditure forecasts. Investigate departmental projected variances as required. This involves analytical functions such as comparisons to previous quarters or years, and overall reasonability checks on projections.
Assist Deans, Department Danagers and others throughout the University to foster cost effective budgeting and forecasting. Advise the Manager, Financial Planning & Budgets and Director, Financial Services of all important budget and financial planning matters in a timely manner. Analyze complex financial information and reports to provide accurate assessment of current and past trends in financial performance and provide recommendations for improvement. Assist with the assessment of the financial situation by completing quantitative and trend analyses and prepare three-year projections based on this analysis. Research, design and develop financial models, dashboards and analyses to support strategic initiatives. Extract data from the financial reporting system to generate management information reports for distribution. Generate non-standard financial and statistical reports and analyses on an ad-hoc basis, and communicate results with the Manager, Financial Planning & Budgets and Director, Financial Services. Work closely with managers and other internal staff in identifying potential for process enhancements, developing implementation strategies and testing of process/systems modifications. Perform data retrieval from ERP for end-users and provide interpretation of data. Budgeting Administration (30%) Provide support to the budget office in the coordination, compilation and preparation of the annual budget, financial forecasts and longrange projections. Provide support to department managers, Directors, Deans, Centre Chairs (or designates), and administrative support staff for development of financial planning data. Analyze proposed budgets for capital and other projects to ensure the financial impacts are recognized in advance of commencement of the project or initiative. Troubleshoot, and liaise with budget holders to obtain resolution on
budget issues. Ensure data is available to end users on a timely basis through loading and proofing of summary level budget data, as appropriate. Perform routine procedures to effect accurate and timely budget adjustments throughout the year. Work closely with Financial Services to align the budget and planning system with changes in ERP as required. Budgeting System (20%) Participate in the coordination and preparation of multi-departmental, divisional, multi-year operating, capital, one-time and special project business plans, budgets and forecasts. Regularly provide budget information and analytical support to Deans, Department Managers and other stakeholders. Assist Deans and Department Managers in establishing appropriate financial performance measures. Assist with the analysis of departmental budget requests, assessment of adjudication requests and make recommendations to the Manager, Financial Planning & Budgets. Assist with ensuring all budgets are reconciled and balanced, and include commitments for all approved staff positions and collective agreement obligations. Assist with the preparation of budget information for department managers, Executive Group and other stakeholders. Provide support for ongoing budget system maintenance and administration. Other Duties (5%) Ensure compliance with all University policies, generally accepted accounting principles, ministry guidelines and legislative requirements. Participate and/or lead financial sustainability /process improvement initiatives as required. Perform special studies, projects related to financial policies, practices and information and other duties as assigned.
Occupational Health and Safety Responsible for awareness of one's OHS related responsibilities as an AU employee and for participating in the AU OHS Program as required. Classification Factors Communication This position functions as part of a dynamic budget and planning team, and works closely with all units and divisions as well as Financial Services. It is important to establish effective relationships with all levels of AU staff, including administrative assistants, departmental support personnel, deans and department heads, academic center chairs, and occasionally senior management. Communication includes advising staff of budget-related procedures, coordinating budget adjustments, seeking authorization, clarifying/verifying documentation or decisions, and responding to budget and financial enquiries. Supervision The position exercises clear communication skills, tact, diplomacy and a high degree of patience to communicate technical accounting information, regulations and requirements to administrative and nonfinancial AU personnel. This includes a capacity to be sensitive to their perspectives and information needs. The incumbent works with a variety of constituents throughout the University with minimal supervision. Responsible for guiding departmental staff with respect to departmental budget planning, budget preparation and quarterly variance reporting as well as financial/budget policies and procedures. Impact of Service or Product Participate in various financial and planning-related committees and working groups as requried. The quality of the work performed by this position reflects on the integrity of Financial Services, the Office of the Vice President Finance and Administration, and the University as a whole. This position contributes to upholding the reliability of financial planning and budgeting information. The results are reflected in financial reports that are used to assess financial performance and for planning at all levels of the University. This position serves as a primary resource to administrative and nonfinancial departmental personnel by assisting them to carry out their fiduciary roles and responsibilities.
Independence of Action This position performs work in an independent fashion with the general direction of tasks being assigned. Responsible for accuracy and completeness of all work within established time frames (internally and externally imposed). The incumbent must be self-motivated with an aptitude and ability to quickly analyze and assess, on a regular basis, the reasonable accuracy of all work produced or reports generated. The incumbent exercises judgment in processing and generating budget and financial data and has the authority to follow-up discrepancies to make necessary adjustments. The individual is expected to solve problems that arise with respect to budgets and forecasts. In addition, the individual is encouraged to provide suggestions to improve and streamline procedures and processes. Although this position works under established procedures for the processing of routine duties, the incumbent performs non-routine tasks with minimal guidance or supervision. Complexity The scope requires a high degree of reliability and attention to detail. Work performed will be subject to review by managers, directors and senior management, and will reflect on the accuracy and integrity of the University s annual budget and financial statements. This position is involved in a wide range of duties such as data analysis, trend analysis, and producing financial plans and management information reports. The position is also involved with the annual budget process, variance analyses and special projects. A high degree of accuracy, attention to detail, and the ability to organize and prioritize activities are essential as workload is performed within specific time frames. This position is relied upon for the production and dissemination of accurate and timely financial and budget information. The position will work closely with, and will be relied upon to provide backup coverage for, the Business Analyst within the Budgets & Planning unit of Financial Services. The individual will have access to highly confidential and sensitive information when supporting variance analysis and budget administration functions.
Planning Extensive involvement in planning the annual budget development process, including researching and recommending key assumptions and parameters. Plans work to address short timeframes and multiple and changing priorities. Must be able to anticipate causes of potential bottlenecks or delays in the budget process and recommend courses of action. Evaluates and prioritizes information requests to efficiently retrieve and report data to ensure client information needs are met. Plans and carries out complex and non-routine assignments. Signatures for Section I Incumbent's Signature Supervisor's Signature
Section II Qualifications Includes education, experience, skills, abilities and any other special qualifications required. The qualifications relate to the position not the incumbent Bachelor s degree in Finance, Accounting, or Commerce as well as a professional accounting designation (CPA, CA, CMA, CGA) required plus a minimum of five years experience in finance/accounting roles, with an emphasis on budgeting, forecasting, planning and analysis, as well as financial modeling. Demonstrated quantitative and analytical skills are essential as well as a sense of curiosity and desire to understand the cause of variances and solve problems. The incumbent should have extensive hands on experience using a computerized financial system and possess a systems aptitude. Experience working with and managing large amounts of data and a proven ability to extract, summarize and present meaningful insights and information to a variety of audiences. Proficient knowledge of Excel is essential (e.g. formulas, pivot tables, charts, V-look up, etc.) Experience with budgetary planning tools such as Cognos, Hyperion, etc. would be desirable as well as Banner Enterprise Resource Planning system. The incumbent should have proven analytical and problem solving skills, and the ability to work independently. In addition, they should be a self-starter who is detail oriented and has good organizational skills with the ability to priortize work in order to adhere to designated time lines. The incumbent should have sound communication skills and be an enthusiastic team player with strong interpersonal skills, including demonstrated ability to establish and nurture relationships with all levels of the organizaiton, that foster and emphasize client service. Signatures for Sections I and II Department Head Signature Executive Officer Signature Human Resources Review