To be considered, a cover letter and resume are required. The cover letter must be the leading page of your resume and should:
Specifically outline the reasons for your interest in the position and
Outline your particular skills and experience that directly relate to this position.
Starting salaries will vary depending upon the qualifications and experience of the selected candidate.
Information and Technology Services (ITS) has a strategic opportunity for a Cost Analyst Senior in ITS Finance. This position will report to the Director of Finance.
The Cost Analyst will: provide analysis for making strategic decisions and identify opportunities for cost savings and efficiencies. They will track monthly service costs to provide insight into areas needing process improvement; analyze financial reports and records compared to budgets and make recommendations relative to the accounting reserves, assets and expenditures. Additionally, they will perform audits of costs for use in controlling expenditures and determining costs of business activity; and perform analytical studies and conversion of data into concise understandable reports.
WHO WE ARE
ITS supports U-M faculty, researchers, staff, and students in their use of technology to teach, learn, research, and work, and be leaders in their fields. We are dedicated to creating cohesive digital experiences and enabling university wide innovations by:
Elevating the customer experience by providing proactive, laser focused customer service
Providing appropriate IT security and privacy in an open university society, while enabling innovation
Supporting data-informed decision making
Delivering intuitive research computing solutions
Building a world-class, transformational network and reliable administrative systems
In addition, we value those that proactively solve challenges, work with a sense of urgency, and seek a collaborative and inclusive work environment.
ITS’s mission is to be trusted enablers of technology for the U-M community. ITS works together to provide cohesive digital experiences and seamless support to the U-M community. To learn more, visit: https://its.umich.edu.
WHO YOU ARE
You are energized by working with a collaborative team and industry peers to support the university mission through innovative and appropriate use of technology. You seek understanding and to tackle projects and problems with your customers’ needs in mind. You anticipate problems and work proactively to preempt challenges and concerns, delivering increasingly relevant customer experiences over time. You value a culture that is rooted in mutual respect, where you can learn from different perspectives, roles, and identities.
You have a minimum of five (5) years of progressive experience as an accountant, financial or business analyst to include budgeting, forecasting and financial analysis with a focus on customer service. You will have strong interpersonal skills including the ability to effectively communicate and work with a variety of individuals and units. In addition, you will be able to develop complex financial models and analyze complex data, and able to interpret and communicate sensitive financial data and complex issues to a varied audience through advanced writing skills including preparation of business cases and proposals.
Responsible for preparing reports, attending departmental meetings to provide financial feedback, and training non-financial staff in cost management. Main tasks include tracking departmental and service budgets, establishing ITS service cost procedures, and analyzing variances in operating costs.
Recommend changes in financial/business procedures to improve efficiencies in departmental processes. Offer analytical support for ITS recharge services and common good services. Examine data to help with creating efficiencies in operations.
Monitor business transactions for accuracy and appropriateness of revenue/expenditures, including staffing plan statistics, non-salary expense data, expenditures, inventory, assets, accruals, etc.. Perform variance analysis between actual and budget. Investigate and resolve financial discrepancies. Coordinate with the ITS Finance customer lead to ensure cost forecasting is accurate.
Develop partnerships and consultations with the management teams of each ITS department in an effort to increase the business and operational understanding that allows for sound recommendations relative to accounting and financial matters of services being provided.
Oversee cash/credit card sales for ITS operations and validate data accumulation for financial reporting and adherence to internal controls. Provide cost analysis results to assist senior management in decision-making or other financial initiatives. Report on inventory evaluation, production, and various other costs. Provide productivity analysis.
Analyze financial performance of assigned areas and summarize findings to management in accurate and timely internal reports. Create ad hoc reports and reports for management as requested. These must be done meeting the requirements of current policies, industry standards, procedures and requirements and University Standard Practice Guides (SPGs).
Review monthly financial transaction reports and assess any issues in accordance with current written procedures. Initiate corrections or adjustments of financial transactions, as appropriate. Submit corrections with required approval and communicate directly to management any material findings during the course of review. Verify proper financial controls are incorporated into routine financial processes.
Monitor account reconciliations, investigate discrepancies and initiate corrections. Develop business cases to support financial requests or service changes/improvements. Prepare narrative documents, clearly outlining the approach, analysis, assumptions and conclusions for the business case. Provide scenarios/options and recommend a plan of action based on the business case conclusions.
Demonstrate effective problem solving, accountability, and communication skills to successfully guide ITS on business decisions. Assist with and/or lead additional projects/activities which may include: collaborating on organization special projects; creating ad-hoc queries and reports as requested; explaining reports, etc..
Effectively utilize leadership and strategic thinking skills to: contribute to strategic planning efforts to define the strategy for the assigned product area; collaborate across the organization to plan and coordinate team priorities, resulting in setting and approving operational priorities for the team in the context of the larger picture of organizational goals and strategy; and effective collaboration across the organization, and project completion that meets requirements and quality expectations and is on time.
A Bachelor’s degree in business administration, finance or a related field with thorough understanding of accounting and financial principles
Five (5) or more years of progressive experience as an accountant, financial or business analyst, budgeting, forecasting and financial analysis
Excellent attention to detail and written communication skills
Proficiency with word processing, spreadsheet, and collaboration applications
Ability to develop complex financial models and analyze data
Adapt to rapidly changing work assignments and priorities
Demonstrated creative problem solving skills and flexibility when collaborating with customers, team members, and technical departments to understand, advocate for, evaluate, and support enhancements, resulting in plans and services that leverage the capabilities of existing technology and meet customer and organizational expectations
Demonstrated effective communication skills including strong interpersonal skills with an ability to work effectively through all levels of management and matrix organizations
Demonstrated ability to establish and maintain effective relationships with internal and external customers in a manner that consistently meets the organization’s expectations for exemplary customer service
Excellent organizational, analytical and independent problem-solving skills
Master’s Degree in finance, accounting, or related
Understanding of ERP systems including the ability to retrieve required data using data warehouse query tools
Experience in a higher education business setting, particularly knowledge of University of Michigan policies and systems
Knowledge of fund accounting principles – in particular Auxiliary Funded department
Familiarity with Federal A-21 requirements
Information and Technology Services is excited to be filling 40-plus positions this fall to support the missions of the university through the innovative and appropriate use of technology. We have been strategic in our hiring over the last two years in order to fund and invest in our future with these key positions. As a valued team member, you will help create and run the technology that powers the University of Michigan – supporting the students, faculty, and staff who are helping to improve the world!
Physical Demands/Work Environment
May require travel to various locations in buildings on campus. May require working during non-business hours and on weekends.
NOTE - This position may work with and/or support systems that maintain or process sensitive institutional data as defined by university policy. Successful candidates must comply with federal, state and local law and/or university policies or agreements that require the university to implement specific privacy and security safeguards including, but not limited to: ITAR, EAR, HIPAA and FISMA. Responsible for protecting data and information from unauthorized release or from loss, alteration or unauthorized deletion; and, following applicable regulations and instructions regarding access to computerized files, release of data, etc. as stated in a computer access agreement.
Diversity, Equity and Inclusion
The University of Michigan Information and Technology Services seeks to recruit and retain a diverse workforce as a reflection of our commitment to serve the diverse people of Michigan, to maintain the excellence of the University and to offer our students richly varied disciplines, perspectives and ways of knowing and learning.
The University of Michigan Benefits Office is committed to offering a high-quality benefits package to support faculty, staff and their families. Learn more about our 2:1 retirement matching, healthcare plans with nationwide coverage including prescription drug coverage, three dental plans, a vision plan, flexible spending account, well-being programs, long-term disability, automatic life insurance, general legal services, three early childhood centers, time away from work and work-life programs to promote balance. Learn more at https://hr.umich.edu/benefits-wellness
The University of Michigan is ranked the No. 3 public university in the 2020 U.S. News & World Report’s annual report of the nation’s best undergraduate colleges and universities.
The University of Michigan is ranked No. 6 on Kiplinger’s list of Best Values in Public Colleges, again making U-M one of the nation’s best values in higher education for in-state students. The ranking highlights colleges and universities that combine outstanding education with economic value.
For the third straight year, the University of Michigan maintained its position as the 15th top university in the world, according to the Times Higher Education World Reputation Rankings.
The University of Michigan maintained its ranking as the top U.S. public university in the QS World University Rankings for 2019-20 and ranked 21st among all institutions on the list, moving down one spot from last year in the ranking released Tuesday, 06/18/2019.
Job openings are posted for a minimum of seven calendar days. The review and selection process may begin as early as the eighth day after posting. This opening may be removed from posting boards and filled anytime after the minimum posting period has ended.
The University of Michigan is an equal opportunity/affirmative action employer.
Internal Number: 179142
About University of Michigan - Ann Arbor
A great university is made so by its faculty and staff, and Michigan is recognized as one of the best universities to work for in the country. The Michigan culture is known for engaging faculty and staff in all facets of the university to create a workplace that is vibrant and stimulating.For two consecutive years, the Chronicle of Higher Education has placed U-M in its "Great Colleges to Work For" survey. In particular, the university earns high marks for strong relations between faculty and administrators, a collaborative system of governance, strong pay and benefits, and a healthy work/life balance.