Financial Professional

Knowledge, Skills, and Abilities (KSAs): Knowledge of financial management systems and software. Knowledge of accounting theory and Generally Accepted Accounting Principles (GAAP). Knowledge of budget development, grant and contracts administration. Ability to communicate clearly and effectively. Ability to analyze data and create comprehensive reports. Ability to organize and disseminate information clearly. Ability to determine whether practices comply with regulations and policies.

Role Description

Responsible for providing support to management in analyzing, auditing, and interpreting data while providing customized budget analysis and financial reports for both internal and external stakeholders. This role demonstrates a level of expertise in one or more areas and is responsible for the interpretation and application of financial policies and procedures. May supervise the work of others; however, this is a secondary function of the role. Competencies for this role are usually gained through formal education, specialized training, and/or experience in a program or specialty area specific to the position responsibilities.

Typical Functions:

Provides guidance and recommendations for short- and long-term, strategic, and capital planning and projections.
Serves as a liaison with principal investigators, outside agencies, and funding sources.
Prepares budgets and advises management on daily operations and financial matters.
Monitors financial activities of a department or the university through maintenance and control of financial records.
Prepares, reviews, and approves documents, sets up new funds and accounts, makes budget entries, and prepares status reports.
Reviews, investigates, and corrects errors.
Advises and provides assistance to internal and external contacts.
Compiles, researches, and analyzes historical and current financial data to develop reports.
Creates reports and projections for use in short- and long-range financial planning and forecasting.
Performs financial analysis related to contract or grant proposals.
Participates in the planning or development of budgets for sponsored projects.
Participates in budget development process.
Prepares for audits and researches discrepancies.
Develops procedures, plans, and reports based on interpretation of applicable regulations, policies, and procedures.
Identifies trends and prepares financial statements, analyses, and projections.
Determines proper handling of financial transactions.
Develops and maintains financial structures.
Resolves over-expenditures and compliance issues.
Implements procedures and controls to ensure compliance.
Provides recommendations, reports, and models that have a significant financial impact on the unit or university.
Develops and delivers presentations and training.
Serves as a subject matter expert for a specialty financial area.
Reviews and interprets documents to ensure financial obligations are met.
Implements financial and administrative procedures, and ensures policies and procedures are followed.
Serves as a resource and advisor for unit leadership.
Provides guidance and expertise to staff and faculty on financial matters.
Coaches, mentors, supervises, and/or provides work direction to staff.

Levels

Financial Professional 1

Performs diverse activities requiring analysis and judgment in alignment with broad principles, practices, and professional standards within a financial body of work.
Work is guided by objectives and expected outcomes with limited direction; refers new or complex problems to a higher level.
Analyzes and interprets data, identifies areas of concern, and recognizes when there is a problem.
Determines compliance within policies and procedures.
Understands government regulations associated with area of expertise.

Education/Experience:

Typically requires a bachelor’s degree in a relevant field and two years of relevant experience, or an equivalent combination of education, training, and experience. Relevant certification or licensure may be required.

Financial Professional 2

Works on complex issues requiring in-depth analysis of variable factors.
Selects methods, techniques, and evaluation criteria for obtaining results consistent with broadly defined policies, procedures, practices, and professional standards.
Uses innovative solutions to solve problems, and modifies solutions when competing policies are present.
Exercises latitude to determine objectives.
Consults with supervisor for the clarification of department/university (overarching) operating policies and procedures.

Education/Experience:

Typically requires a bachelor’s degree in a relevant field and four years of relevant experience, or an equivalent combination of education, training, and experience. Relevant certification or licensure may be required.

Financial Professional 3

Senior-level individual contributor for a specialized area of expertise.
Independently works in complex and strategic areas.
Analyzes and evaluates courses of action and makes independent decisions.
Focuses on short- and long-term strategies.
Establishes and implements strategic projects.
Responsible for solving problems that are far-reaching.
Enforces and ensures financial compliance.
Develops and recommends financial and administrative procedures, and ensures policies and procedures are followed.
Works across campus, institute, or system as an expert resource and influencer to decision makers.

Education/Experience:

Typically requires a bachelor’s degree in a relevant field and five years of relevant, progressively responsible experience, or an equivalent combination of education, training, and experience. Advanced degree in relevant field preferred. Relevant certification or licensure may be required.