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Senior Financial Analyst

1 month ago

Hanover, United States ONE Elite Staffing Full time
Job DescriptionJob DescriptionPosition: Senior Financial Analyst

The Maryland Department of Transportation (MDOT) is seeking a highly skilled and motivated Financial Analyst, Senior (IT Budget Analyst) within the Office of Transportation Technology Services (OTTS). This role involves analyzing IT budgets across various MDOT modes to ensure efficient and effective use of financial resources.

Key Responsibilities:

Review and analyze IT budgets from all MDOT modals to identify expenditure patterns, allocations, and cost centers.
Gather financial data related to IT expenditures and investments from various MDOT modes and obtain budgetary information from relevant departments and stakeholders.
Analyze IT costs to identify areas for optimization and cost savings and evaluate the efficiency of current spending to recommend improvements.
Prepare detailed reports and documentation on IT budget analysis findings and communicate budget analysis results to MDOT management and stakeholders.
Forecast future IT budget needs based on MDOT's business goals and growth projections and develop budget planning scenarios and financial models.
Assist in the preparation of IT budget proposals and presentations, providing data-driven recommendations for budget allocations.
Assess financial risks related to IT budgeting and spending and propose strategies for financial contingency planning to mitigate risks.
Review vendor contracts and agreements to ensure alignment with budgetary goals and negotiate pricing and terms to optimize IT spending.
Provide expert advice and consultation on financial matters related to IT budgeting and collaborate with IT leadership to align budgeting strategies with MDOT's organizational objectives.
Ensure compliance with financial regulations and organizational policies and implement governance frameworks to monitor and control IT spending.
Recommend continuous improvement initiatives for IT financial management and stay updated on industry trends and best practices in IT budget analysis.

Qualifications:

Bachelor's degree in Finance, Accounting, Business Administration, or a related field; MBA or relevant professional certification (e.g., CFA, CPA) preferred.
Minimum of 5 years of experience in financial analysis, budgeting, or a related role, with a focus on IT budgeting and financial management.
Strong analytical and problem-solving skills, with the ability to interpret complex financial data and provide actionable insights.

Excellent communication and presentation skills, with the ability to convey financial information to non-financial stakeholders.

Proficiency in financial modeling, forecasting, and budget planning tools.
Experience with vendor contract negotiation and management.
Knowledge of financial regulations, compliance requirements, and governance frameworks.
Ability to work collaboratively with cross-functional teams and stakeholders.
Strong attention to detail and a commitment to continuous improvement.