Financial Analyst IV Job at City of Detroit
City of Detroit Detroit, MI 48226
$79,945 - $104,853 a year
Description
Be a Part of the City You Love!
The Office of the Chief Financial Officer - ODFS - Public Safety Fire division is accepting applications for a Financial Analyst IV position.
Position Summary
Financial Analyst IV is an advanced level financial analyst professional within the City of Detroit Office of the Chief Financial Officer that requires nominal direction and supervision. The Financial Analyst conducts complex analyses and provides recommendations concerning the City of Detroit financial and operational results. The key services provided include, but are not limited to: examination, review, study, or other financial analysis; preparing detailed reports to show sources of information and explain the basis for conclusions; making recommendations on the basis of detailed analysis and evaluation; creating and tracking budget to actual across multiple years; and executing a month-end close process that includes variance analysis and forecasting. Many of these services will be performed within the appropriate modules of the ERP Cloud that impact the operations of this position.
Examples of Duties
- Plans, assigns, and coordinates the work of Financial Analyst I, II, and III and other clerical and administrative staff
- Using ERP Cloud applications performs the following activities:
- Strategic planning, financial and operational analysis, budget preparation and analysis, and other critical analysis
- Financial evaluation of agencies and departments
- Strategic financial modeling, annual target setting, and annual business planning process for City Agencies to assess financial implications and support complex business decisions
- Using Process Management to manage the financial review cycle
- Development, implementation, and monitoring of financial and operational policies, guidelines, processes, procedures, internal controls, and performance measures
- Partnering with City Agencies to develop and monitor multi-year operating and capital plans, reserve forecasts, and long range financial strategies
- Develops, implements, monitors, and ensures compliance of financial and operational performance measures
- Performs cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods
- Engages in all aspects of setting and refining strategy, major strategic analyses, and the operating budget for City Agencies
- Evaluates monthly financial and operational performance against plan, prior year, and forecast
- Analyzes and evaluates the financial and business operations and transactions engaged in by many different departments/agencies
- Informs investment decisions by analyzing financial information to forecast City, industry, or economic conditions
- Prepares plans of action for investment, using financial analyses
- Drives functional enhancements to planning and forecasting processes and activities and implements best practices
- Analyzes and reviews prior year expenditures, grant balances, and fund sources and prepares detailed financial forecasts, cost projections, and recommendations based on actual results
- Reviews, provides, and responds to requests and inquiries regarding financial, expenditure, revenue/fund status, appropriation transfers, supplemental appropriations, and variance reports to management to enable financial and budgetary monitoring and control
- Examines budget estimates for completeness, accuracy, and conformance with procedures and regulations
- Provides complex technical consultation and assistance to management in preparing budgets, grants, proposals and contracts; and interpreting and applying budget and financial guidelines
- Identifies and advises on budget overruns, revenue shortfalls and other financial problems for large departments; recommends options and solutions; and works with management to resolve problems
- Consults with managers to ensure that budget adjustments are made in accordance with program changes
- Draws charts and graphs, using computer spreadsheets, to illustrate technical report
- Reviews and prepares regular and ad-hoc financial and operational reports
- Compiles and analyzes accounting records and other data to determine the financial resources required to implement a program
- Performs special projects and other duties as assigned
Minimum Qualifications
Education
For all Financial Analysts it is a requirement to have completed a bachelor’s degree from an accredited college or university, with major course of work in accounting, business, public administration, or a closely related field. Such education must include at least twenty-four (24) semester (36 terms) credits of coursework in accounting, finance, or economics.
For all Financial Analysts it is a requirement to have completed a bachelor’s degree from an accredited college or university, with major course of work in accounting, business, public administration, or a closely related field. Such education must include at least twenty-four (24) semester (36 terms) credits of coursework in accounting, finance, or economics.
In addition, Financial Analysts with a master’s degree, such as Master in Business Administration, Master in Finance, Masters in Economics, and other appropriate and related courses of study meet the minimum experience required for Financial Analyst II.
Experience
In addition to the minimum education requirements, the following experience requirements also apply:
For entry into the Financial Analyst position, one (1) year of professional experience providing a systematic review, analysis, interpretation, and evaluation of budgets, loans or other financial data is preferred but not required. Financial Analyst must demonstrate proficiency with integrated word processing and spreadsheet functions.
For selection, appointment to a Financial Analyst level II or higher, in addition to the minimum education requirements, more progressive levels of experience are required based on the following:
Financial Analyst IV – at least four (4) years of experience
For Financial Analyst IV, the Financial Analyst must have two (2) years of verifiable experience leading teams and/or providing guidance and training to subordinate staff.
License / Certificates
Possession of a Certified Financial Planning and Analysis (CFPA) certificate sponsored by Association of Finance Professionals may be substituted for one year of Financial Analyst II experience. There may be a requirement for some positions to have or be working on achieving CFPA certification.
Equivalency
Equivalent combinations of education and experience that provide the required knowledge, skills, and abilities will be evaluated on an individual basis.
Supplemental Information
Evaluation Plan
- Interview: 70%
- Evaluation of Training, Experience & Personal Qualifications: 30%
- Total of Interview and Evaluation T.E.P: 100%
Additional points may be awarded for:
- Veteran Points: 0 – 15 points
- Detroit Residency Credit: 15 points
LRD: 04/17/2023
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