Business Operations Specialist

1 week ago


Minneapolis, Minnesota, United States University of Minnesota Full time
About the Job

This position provides accounting services for the University of Minnesota's Office of Academic Clinical Affairs (OACA) Finance group. The OACA Finance team provides leadership in financial management and budget development, financial data analyses, and decision support and reporting systems. We also provide grants management, transaction processing, and support for the shared service and administrative units of the health sciences.

Key Responsibilities
  • Research and Contract Accounting Support and Analysis (20%)
    • Financial partner over the life of a grant or contract.
    • Prepare proposals, develop budgets, and establish accounts.
    • Analyze spending and burn rates on sponsored projects, analyze impact on overall department budgets.
    • Analyze labor distribution and adjust as needed.
    • Forecast future spending.
    • Close grants.
    • Review and approve expenses over $1000 on sponsored research projects.
    • Coordinate semester effort certification for supported faculty.
    • Resolve issues with SPA and SFR.
    • Serve as backup for other AHC Finance research support personnel.
  • Budgeting (15%)
    • Lead the budget process for assigned centers.
    • Analyze historical trends, current operations, operational changes, and revenue streams to prepare preliminary budgets for directors.
    • Make recommendations regarding personnel, operations, and capital items in budgets.
    • Support center directors at budget meetings with the Office of the VP for Health Science.
    • Ensure accounting structure will measure budget performance, input budgets into financial systems.
    • Administer and monitor budgets; recommend allocation/reallocation of resources as needed.
  • Financial Reporting and Reconciliation (40%)
    • Create periodic financial reports for management and other budget status reports, complex reports on current budget status, budget projections, analysis of historical trends, and month-to-month comparison reporting for assigned centers.
    • Provide comprehensive, global financial reports and projections for centers and PI's on sponsored and non-sponsored funds.
    • Monitor center financial performance.
    • ISO/ESO management, including rate development and reconciliation to policy.
    • Analyze trends in revenues and expenses; provide tuition revenue analysis and projections.
    • Determine cost/benefit of various operational decisions and options.
    • Distribute reports to Unit Directors and answer any questions that may arise.
    • Reconcile resources and expenses to the ledger, audit for errors, investigate discrepancies, and prepare correcting journal entries.
    • Monitor transactions for compliance and correct use of account strings.
    • Ensure university policies and procedures are followed for all transactions and stay up-to-date on policy changes.
  • Transactional Activity (20%)
    • Includes preparing entry requests sent to the cluster for: journal entries for year-end adjustments, transfer in/transfer out entries, budget journals, prepare ISO uploads, etc. and acting as a resource for interpretation and policy related to transactions.
  • Other Duties as Assigned (5%)

This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required. Duties, responsibilities, and activities may change or new ones may be assigned at any time with or without notice.



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