Financial Analyst

Financial Analyst

Job Summary :

The Financial Analyst is responsible for coordinating account balance corrections, maintaining proper accounting controls and procedures, and ensuring compliance with financial regulations. This role provides management with budget and funding status updates, assists with audits, and develops recommendations for improving financial reporting efficiency. The Financial Analyst also reviews policies and procedures to enhance internal controls and participates in financial forecasting and analysis.

Key Responsibilities :

• Coordinates corrections of account balances and maintains proper accounting controls and procedures as a Financial Analyst.
• Advises management on budget and funding status, making recommendations to resolve funding issues.
• Assists in year-end audits by preparing detailed schedules and analyses to support financial statements.
• Reviews current control procedures and assists in developing new procedures to strengthen internal controls.
• Works with external and internal auditors to interpret accounting schedules and resolve discrepancies.
• Develops responses to address the impact of changes in accounting standards.
• Recommends improvements to enhance the efficiency of financial reporting practices.
• Assists in preparing, developing, and monitoring department or hospital budgets, ensuring compliance with fiscal constraints.
• Provides data analysis for long-range financial and cash flow forecasting, projecting trends in spending, and optimizing fund allocation.
• Reviews, analyzes, and negotiates financial aspects of grant agreements and sponsored research proposals to ensure compliance.
• Conducts cost analysis to determine billable indirect costs, cost-to-charge relationships, and overhead rates.
• Implements and maintains procedural cost accounting systems as needed by the Financial Analyst.
• Evaluates new business initiatives and large capital requests.
• Develops and maintains expertise on state, federal, and organizational financial regulations, making policy recommendations to ensure compliance.
• Reviews, revises, and communicates financial guidelines to maintain regulatory compliance.
• Manages special financial projects, including preparing impact studies and financial surveys, as a Financial Analyst.
• Engages in professional development activities, including attending educational in-services and participating in industry organizations.
• Prepares and analyzes financial statements, statistical reports, and supporting schedules for management.
• Develops and implements methods for improving financial reporting efficiency and compliance.
• Ensures compliance with third-party reporting requirements, including federal and state regulations.
• Analyzes monthly financial performance relative to budget and prior periods, documenting variances in a clear, concise narrative.
• Provides guidance and training to professional staff on cost accounting and financial report design.
• Consults with department heads, offering recommendations and guidance on financial procedures.
• The Financial Analyst assists in identifying opportunities for cost savings and efficiency improvements.
• Performs other related responsibilities as required in the role of a Financial Analyst.

Minimum Qualifications :