University of Delaware
Financial Analyst I, Human Resources
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Pay Grade: 30E
Context of the Job:
Under limited direction of the Assistant Director of Benefits, the Financial Analyst performs detailed benefits, cost and financial analyses. Develops and interprets detailed cost accounting information and makes recommendations regarding the efficient utilization of resources and the proper accounting for transactions. The Financial Analyst assumes responsibility for various specialized, complex or large financial analysis assignments. The Financial Analyst evaluates the internal benefits policies and procedures as they relate to cost and employee impact and, in collaboration with management, recommends changes and/or improvements. The Financial Analyst routinely interacts with outside benefit vendors.
The Financial Analyst is responsible for yearly reconciliation of various benefit programs. The incumbent serves as the primary liaison to the University Office of Procurement, Accounts Payable, Controller’s Office, and Treasurer.
Major Responsibilities:
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Performs specialized financial or cost analyses and tasks related to benefit rate development, including projecting and reconciliation of benefits-related expenses; prepares related reports. Evaluates, analyzes, and projects the impact of benefit rate changes.
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Compiles, analyzes, and reconciles financial and statistical data, and generates a range of individual and group financial and statistical reports for management.
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Oversees and coordinates the generation of benefits adjustments from PeopleSoft, ensuring accuracy of benefits deductions; makes corrections and adjustments as necessary.
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Compiles, reviews, accurately records and processes payments to health and welfare plan providers, ensuring that amounts to be paid are appropriately supported by the detail provided. Tracks benefit expenses incurred by plan and type for ongoing analysis.
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Reconciles benefit liability and expense accounts on a monthly basis, providing explanations for variances to prior month, quarter, year and budget as required.
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Reconciles the benefits billings between PeopleSoft and individual vendors, resolves billing issues, prepares notifications and collects contributions or distributes payments where necessary from employees, retirees, and vendors.
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Approve allocations and expenditures, prepare and interpret financial reports as well as prepare accounting documents as required.
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Process journal vouchers and budget revisions ensuring proper revenue and expense recognition, in accordance with GAAP.
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Complete and submit year-end financial reporting; FASBE Report, Fringe Rate Data; as well as other reports as required for budget presentations and board meetings, etc.
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Administers and processes all purchasing requisitions to include purchase orders and non-PO payments.
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Oversight of all aspects of Purchasing Card program for HR, serves as Procurement Concur Card Manager and delegate account administrator for transactions and allocations on internal departmental funds
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Approve allocations and expenditures, prepare, and interpret financial reports.
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Verify, resolve, and provide supporting documentation for procurement related issues.
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Interpret policies and regulations to ensure compliant transactions.
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Resolve complex procurement and financial issues with both internal and external constituencies as required.
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Performs miscellaneous job-related duties as assigned.
Qualifications:
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Bachelor's degree in business administration, accounting or other job-related discipline and four years of auditing, cost accounting and/or financial analysis experience.
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Knowledge of cost and financial accounting principles, practices and procedures.
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Knowledge of internal control systems and procedures.
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Financial modeling a plus.
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Skill in performing complex numerical calculations and reconciliations.
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Skill in the use of personal computers and related financial and statistical software products. Effective written and oral communication skills.
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Ability to communicate effectively and interact well with people of all ages and diverse backgrounds.
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Problem solving and attention to detail skills.
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Ability to work well in a team environment, handle multiple tasks with deadlines and pressure, adjusting work schedules to meet deadlines.
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Ability to query, gather data, compile information, prepare reports and analyze information.
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Knowledge of state and federal laws pertaining to employee benefits, COBRA, and IRS Section 125.
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Knowledge of retirement and health and welfare benefit programs a plus.
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Knowledge of computerized human resources and payroll systems (PeopleSoft preferred).
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