Senior Financial Analyst

3 weeks ago

Chicago, United States Insight Global Full time

Exact compensation may vary based on several factors, including skills, experience, and education.


Benefit packages for this role will start on the 31st day of employment and include medical, dental, and vision insurance, as well as HSA, FSA, and DCFSA account options, and 401k retirement account access with employer matching. Employees in this role are also entitled to paid sick leave and/or other paid time off as provided by applicable law.


Position Overview:

We are seeking a meticulous and proactive IT Financial Analyst to join our dynamic IT team. The primary focus of this role is to monitor, track, and analyze the IT budget, ensuring expenditures align with the allocated budget and providing insights on budget utilization. Additionally, the candidate will be responsible for coordinating the renewal of IT licenses, subscriptions, and contracts, as well as evolving software procurement processes and overseeing the Centralized Software Procurement review. This role demands strong analytical skills, financial acumen, and the ability to collaborate effectively with various departments to maintain cost-effective IT operations.


Qualifications:

- Bachelor's degree in Finance, Accounting, Information Technology, or related field.

- 5-7 years of proven experience in IT budget monitoring, financial analysis, and contract management.

- Proficiency in budgeting and financial analysis tools, as well as Microsoft Excel, Power BI Dashboards, SharePoint

- Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.

- Detail-oriented with a high level of accuracy and organizational skills.

- Knowledge of software procurement processes, Centralized Software Procurement review, and IT service contracts is a plus.


Key Responsibilities:

1.Budget Monitoring:

- Monitor and track IT expenses on a regular basis to ensure adherence to the allocated budget.

- Analyze and report on budget utilization, highlighting variances and potential areas for cost savings.

- Collaborate with finance and procurement teams to reconcile budget discrepancies and ensure accurate financial reporting.


2. Cost and Savings Analysis

- Analyze historical spending trends and current budget utilization to provide insights and recommendations for optimizing IT expenditures.

- Work closely with department heads and project managers to understand budget requirements and provide guidance on budget allocation and utilization.


3. Contract Renewal Management

- Track and manage the renewal dates for IT licenses, subscriptions, and contracts.

- Ensure timely renewal of essential IT services to minimize disruptions and maintain operational efficiency.


4. Software license spend life-cycle management

- Implement and oversee the Centralized Software Procurement review process to ensure compliance with organizational policies, standards, and budget constraints.

- Evaluate software purchase requests, conduct vendor assessments, and recommend approvals or alternative solutions based on established criteria and best practices.


5. Expense Tracking and Reporting

- Maintain accurate records of IT expenses, invoices, and payments.

- Generate regular reports and dashboards to communicate budget status, renewal timelines, and cost-saving opportunities to senior management.


6.Portfolio Budget Tracking:

  • Manage and track the overall IT portfolio budget, including multiple projects, initiatives, and operational expenses.
  • Provide regular updates and forecasts on portfolio budget utilization, identifying risks, opportunities, and recommended actions to maintain alignment with organizational goals and financial targets.


7. Process Improvement:

- Continuously review and optimize IT budget monitoring, renewal management, software procurement processes, and the Centralized Software Procurement review to enhance efficiency and cost-effectiveness.

- Implement best practices and innovative solutions to streamline workflows and improve financial management.

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