Financial Associate

Knowledge, Skills, and Abilities (KSAs): Knowledge of standard office functions, accounting recordkeeping, electronic spreadsheets, and computer operation. Knowledge of financial policies and procedures. Knowledge of the granting process. Knowledge of multiple funding sources. Math skills. Attention to detail skills. Ability to maintain accurate records and files. Ability to compare information and recognize discrepancies. Ability to provide excellent customer service. Ability to communicate effectively both in-person and in writing.

Role Description

Responsible for providing basic to moderately complex technical support for daily accounting operations by performing a variety of tasks by following policies and procedures. This role provides financial and accounting support to budget and grant management, financial reporting, and/or audit/reconciliation. Knowledge and skills are typically gained through specialized or on-the-job training.

Typical Functions:

Budget
Compiles financial data and prepares financial reports.
Assists with preparation of budgets, financial statements, and year-end closeout.

Reconciliation
Reconciles p-card accounts, reviews travel purchases, and enters expense reports.
Enters, processes, and reconciles payroll.

Procurement
Reviews invoices, requisitions, and purchase orders for accuracy of information; researches and works with appropriate persons to resolve discrepancies.
Processes, audits, and enters invoices, requisitions, purchase orders, travel, payroll, and other financial related transactions into the financial system.
Provides purchasing support through an informal bid process, entering requisitions, monitoring receipt of purchase, and processing payments.

Accounts Payable/Account Receivable
Performs accounts receivable/payable procedures and ensures accurate records of transactions are kept.
Records revenue, makes deposits, and enters payments.
Monitors and balances accounts and researches and resolves discrepancies.
Enters billable information and generates invoices.
Performs cashiering functions, prepares, and issues receipts.

General Accounting Tasks
Maintains financial records in support of accounting activities.
Performs financial tasks such as preparing, examining, coding, and processing forms, vouchers, and letters.
Assists faculty, staff, and students with financial procedure questions.
Recommends and supports the implementation of new or modified financial procedures.
Ensures accurate account of fixed assets and inventory is maintained.
Assists with grant application, and/or fund allocation, disbursement, and projections.

Levels

Financial Associate 1

Entry-level role that performs routine, standardized, well-defined tasks following standard policies and guidelines.
Provides resolution to problems that have clearly defined solutions.
Work is closely supervised and reviewed for accuracy.
Maintains files and enters financial information.
Processes accounts payables and receivables.

Education/Experience:

Typically requires a high school diploma and one year of relevant experience, or an equivalent combination of education, training, and experience.

Financial Associate 2

Tasks vary day-to-day, and tasks are completed by choosing the best options from those available as defined by policies and procedures.
Non-routine tasks are referred to supervisor and operates under general supervision with policies and procedures largely defining how tasks are performed.
Work is reviewed for accuracy and overall acceptability.
Provides guidance on allowable expenditures.
Performs account collections.
Researches, reviews, and resolves accounts payable and receivable discrepancies.

Education/Experience:

Typically requires a high school diploma and two years of relevant experience, or an equivalent combination of education, training, and experience.

Financial Associate 3

Tasks are varied in nature and require problem-solving and critical thinking skills to complete assignments.
Prioritizes work based on the objectives and goals of the work unit.
Makes recommendations to create and change office-level procedures.
Researches and analyzes information to solve problems.
Work is performed under general supervision.
Prepares detailed financial reports.
Performs functions such as financial reporting, assisting with budget and budget preparations, analysis and projections, and grant and contract work.
Monitors and reconciles revenue, disbursements, expenditures, and other financial related activity.
Provides budget and/or accounting related recommendations to management for decision-making process.

Education/Experience:

Typically requires a high school diploma and four years of relevant experience, or an equivalent combination of education, training, and experience.

Financial Associate 4

Responsible for specialized functions in a discrete area and/or acts as a supervisor.
Tasks are diverse and require judgment and are guided by outcomes, principles, and standards.
Sets objectives for own work, and uses discretion to make decisions within delegated authority.
Interprets situations and proactively recognizes and solves problems, modifying procedures as necessary.
Modifies procedures to effectively solve problems.
Independently handles problems with larger scope and decisions impact a larger unit or area of responsibility.
Monitors outcomes and deadlines.
Work is performed under limited supervision.
Performs functions such as statistical analysis, compiling and analyzing compliance reports for government/state grants and contracts, and analyzing and advising on financial matters.
Reviews grants and contracts for conformance to granting agencies and university policies and procedures.
Ensures compliance with Generally Accepted Accounting Principles (GAAP), federal, state, and local laws and rules by analyzing, verifying, and performing complex financial reconciliations.

Education/Experience:

Typically requires a high school diploma and five years of relevant, progressively responsible experience, or an equivalent combination of education, training, and experience.