Department
BSD AFA - Budget Staff 2

Job Summary
The job manages operating and capital budgets for divisions and/or University-wide administrative units. Helps develop long and short term financial goals, business strategies/plans, and financial forecasts/models for major service programs and initiatives. Manages quarterly and year-end reporting for the operating budget.

Serves as a resource for operational units on financial, budget, academic strategy, faculty research productivity, and Faculty Compensation Plan issues. Collaborates with Executive Administrator, Director, Finance Service Delivery and departmental leadership team to develop and implement strategic initiatives for the Department. Prepares and advises others on operating budget for department. Provides project management and analytical support for special projects. Assists department leaders in analyzing proposals and developing proforma business plans. Regularly monitors all funds budget reports and accounting records to determine if revenue and expenses materialize according to plan. Responsible for monitoring and approving expense reimbursements. Reports on variances between the approved budget and actual performance and recommends remediation measures. Ensures accuracy and compliance with financial results by identifying and processing journal entries and payroll transfers, when necessary. Assists with assessment of efficiency and effectiveness of programs and procedures to ensure conformance with budgetary provisions.

Responsibilities

• Develops systems/procedures to ensure integrity and internal financial controls of annual operating budget and annual gift/endowment use.
• Reviews financial and research information; prepares daily, monthly, and ad-hoc reports including dashboards; provides analysis of financial statements, identifies variances from previous periods/budget; ensures policies/procedures to govern financial decision-making are followed to ensure achievement of objectives.
• Responsible for financial management of IADFs, and the associated report out and monitoring of faculty IADF award spending and award fund balance. The finance manager uses this information to identify financial contingencies as it relates to long range financial planning.
• Reconciles IADF fund deposit and transfer data between GL and IADF award in PPM to ensure IADF fund balance accuracy.
• Collaborates with the BSD central office commitment database update and monitoring.
• Monitors aspects of recharge operations revenue generation including Internal and external billing and regulatory compliance.
• Assists with tasks related to Monthly Close, including but not limited to Journal Entry and accrual preparation and completing variance analyses.
• Integrates long/short-range strategies into daily operational and financial planning/reporting to ensure resources for strategic programs are available.
• Performs analysis and interpretation of financial data.
• Creates new PI recruit proforma business plans and serves as chief information source for external benchmarking and market assessments to facilitate PI recruitment, works closely with Director of Finance to ensure business plans are coordinated relative to mission, PI deployment, capital equipment, space, expense and fund support.
• In collaboration with the Director and department, leads the annual budgeting process.
• Serves as a liaison with departmental stakeholders to collect grant proposals and awards, recharge volume assumptions to build revenue budgets, including but not limited to Gifts, Grants and Endowments.
• Utilizes various systems and inputs to build accurate expense budgets including salary and non-wage expense.
• Provides support in developing budget roll up and narrative, as well as identifying financial risks throughout budget process to Director and department leadership.
• Designs and manages faculty compensation programs and tracks financial, research, academic and teaching targets for Section Leadership, existing faculty and new faculty recruits.
• Reports on productivity measures and monitors progress, identifies opportunities to streamline financial operations through best practices; monitors productivity, charge capture, revenue and expenses vs benchmarks to identify opportunities for expense reduction or productivity improvement.
• Performs financial and research data analysis using internal data (Oracle, and other sources) and published benchmarking (MGMA, AAMC, etc.) to develop strategies and reporting to improve PI and departmental performance.
• Analyzes and interprets financial information and assesses operational plans, forecasts and potential risks; evaluates alternative courses of action.
• May manage/supervise staff; provides training, coaching, and mentoring in order to enable individual and team success.
• Works independently to maintain and support the planning and execution of financial strategy.
• Acts as a resource for team members, solves complex problems. Explains complex and sensitive information.
• Performs other related work as needed.

Minimum Qualifications

Education:
Minimum requirements include a college or university degree in related field.

Work Experience:
Minimum requirements include knowledge and skills developed through 5-7 years of work experience in a related job discipline.

Certifications:

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Preferred Qualifications

Education:

• MBA or advanced degree in accounting, finance, or a related field strongly preferred.

Experience:

• Minimum of 5 years of professional experience in accounting, financial planning, budgeting, analysis, forecasting, modeling, auditing, financial control systems, and regulatory compliance.
• Extensive experience in financial management, including the ability to analyze data for budgeting, operations, auditing and accounts receivable and reserve analysis, and pro forma preparation strongly preferred.
• Experience in higher education, healthcare, or academic medical center, with a proven track record of success in the financial environment strongly preferred.

Technical Skills or Knowledge:

• Aptitude for translating complex issues and ideas to general audience.
• Proficiency in financial principles, practices, methodologies, and applications, including budgeting, planning, and reporting within the organization's financial ecosystem.
• Strong financial modeling skills within financial platforms.
• Proficiency in Microsoft Office, including advanced Excel and PowerPoint skills, financial computing, and intellectual versatility and creativity.

Preferred Competencies

• Ability to translate financial data into actionable insights and anticipate trends.
• Demonstrated ability to navigate complex environments, exercise sound judgment, and maintain confidentiality.
• Excellent analytical and organizational abilities, with a focus on maximizing efficiency within financial systems.
• Effective interpersonal, verbal, and written communication skills to establish and maintain relationships at all organizational levels.
• Collaborative work style with strong consultative skills, facilitating effective engagement with financial stakeholders.
• Ability to work independently and manage multiple projects and competing priorities with minimal supervision, while navigating financial systems.
• Strategic thinking and ability to translate strategic objectives into operational plans that consider the financial landscape.
• Flexibility and ability to work effectively under pressure, adapting to changes within financial systems.
• Demonstrated ability to think strategically.
• Ability to develop and analyze alternative solutions and assist in making recommendations.
• Flexibility and ability to work effectively and gracefully under considerable time pressure with competing deadlines and priorities in a fast-paced environment.

Working Conditions

• Office environment.

Application Documents

• Resume (required)
• Cover Letter (required)
• Professional reference contact information

The University of Chicago uses AI-assisted tools to streamline and augment some recruitment processes; however, AI is not used to make hiring decisions.

When applying, the document(s) MUST be uploaded via the My Experience page, in the section titled Application Documents of the application.

Job Family
Financial Management

Role Impact
Individual Contributor

Scheduled Weekly Hours
40

Drug Test Required
No

Health Screen Required
No

Motor Vehicle Record Inquiry Required
No

Pay Rate Type
Salary

FLSA Status
Exempt

Pay Range
$90,000.00 - $130,000.00
The included pay rate or range represents the University's good faith estimate of the possible compensation offer for this role at the time of posting.

Benefits Eligible
Yes
The University of Chicago offers a wide range of benefits programs and resources for eligible employees, including health, retirement, and paid time off. Information about the benefit offerings can be found in the Benefits Guidebook.