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Academic & Research Financial Business Administrator - ARMS

2 months ago

Worcester, United States InsideHigherEd Full time
Overview

POSITION SUMMARY: 

Under the general direction of the Manager, Academic and Research Management Services, the Academic & Research Financial Business Administrator – ARMS provides coordination and management of daily financial activities of assigned units.  These financial activities are conducted in accordance with the policies and procedures set-forth under the University of Massachusetts Medical School, as well as regulatory requirements for funding agencies for Grant funded contracts.

Responsibilities

ESSENTIAL FUNCTIONS:

  • Monitor financial operations on an ongoing basis at the Business Unit level and compare to approved budgets. Work with finance leads to identify any potential adjustments needed and/or reasons for budget variances.
  • Support projection process, including review of submitted forecasts, integration with other data sources, and communication of results and implications to management.
  • Extract and analyze raw data to formulate into business reports.
  • Prepare internal monthly financial analysis reports for distribution.
  • Prepare external management reports for Federal, State and local agencies, as required.
  • Manage the monthly invoicing process for assigned units according to University policy and agency guidelines.
  • Develop and manage the Program's annual budget and report variances and recommend corrective action. Provide forecasts as needed.
  • Manage funding sources by monitoring revenue and expenditure activity.
  • Supervise personnel action activity related to hiring, termination, increases contracting and funding
  • Serve as advisor to faculty for the pre and post award activity relating to grant management.
  • Develop and manage annual budget reporting significant variances/trends, recommending corrective action, and forecasting.
  • Manage all department funding sources by monitoring revenue and expenditure activity
  • Adhere to University, State, and funding agency regulations
  • Responsible for assigned portfolio’s indirect cost, time, and effort reporting
  • Advise faculty in charge of revenue generation research trust funds assuring viable operations, revenue billing, and compliance to University and Federal guidelines
  • Represent Academic & Research Management Services at administrative meetings within and outside of the Medical School
  • Direct analytical studies of existing or proposed services and activities to provide the economic basis for management decisions to improve operational/financial performance and to realize productivity improvements.
  • Review and approve commitments and expenditures against approved budget.
  • Review and analyze financial operation's business processes and workflows; and identify, develop and implement areas for streamlining and improvements, including automation and systems controls, to reduce manual tasks and controls.
  • Train and provide ongoing education to ensure awareness of, compliance with, and uniform implementation of program, University, state, and funding agency regulations, business process policies, procedures and systems.
  • Train, develop, and provide technical consultation related to existing business process and process improvement.
  • Develop and manage internal control procedures to ensure program compliance within assigned program/units.
  • Develop excellent working knowledge of the unit's business model.
  • Play key role in new business opportunity assessments, to include assisting program areas with financial aspects of business proposals, pricing models, and other activities as needed to meet client needs and commitments in a fiscally responsible manner.
  • Work with key staff on new business initiatives and strategic planning.
  • Collaborate with the representatives of the School, define and prioritize departmental strategy and direction. Identify trends, appraise cause and effect, and evaluate and highlight opportunities to improve department performance.
  • Direct development of objective and data-driven financial and strategic frameworks for decision makers.
  • Ensure University, federal, state and private agency policies and guidelines are followed.
  • Liaison with staff responsible for daily transactional business operations.
  • Supervise as appropriate.
  • Provide training and mentorship to finance business partners and/or administrative staff.
  • Perform other duties as required.
Qualifications

REQUIRED QUALIFICATIONS:

Required Education:

  • Bachelor's Level Degree in Accounting, Finance, Business Administration, or equivalent business experience

 

Required Work Experience:

  • 5 - 7 years of progressively responsible experience in a financial related position.
  • Expertise to acquire, manage and analyze financial documents and results.
  • Ability to work with staff at various levels to ensure effective operations, to maintain accurate records and use discretion in handling confidential information.
  • Demonstrated ability to meet reporting deadlines.
  • Proficient in Microsoft Office software applications (Microsoft Access and Excel).
  • Excellent communication skills (both oral and written).
  • Experience with pricing models and business proposals.
  • Demonstrated organizational, interpersonal, and problem-solving skills required.
  • Demonstrated ability to handle details, multi-task and prioritize work.
  • Ability to work in a team environment providing high quality customer service.
  • High level of diplomacy and discretion.

PREFERRED QUALIFICATIONS:

  • Previous experience working with PeopleSoft, Grant Management Systems
  • Previous experience working with Sponsored Projects, Federal Grants, Clinical Trials