Financial Analyst II, Human Resources
University of Delaware
Job Title Financial Analyst II, Human Resources
Job ID 104585
Location Newark, DE
Pay Grade: 31E
CONTEXT OF THE JOB:
Under limited direction of the Director, Compensation and Benefits the Financial Analyst II 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. Annual account reconciliation is estimated at $82 million.
The Financial Analyst is responsible to the Chief HR Officer for management of the overall HR budget.
- 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.
- Analyzes and calculates benefit rate changes, to include University and employee contributions; generates appropriate notification of changes and notifies other budget/accounting units to include, but not limited to Budget, General Accounting, and Office of the Treasurer.
- Manages the Human Resources department budget. Oversees the reporting and adherence to federal, state and local regulations and guidelines, and conformity with university fiscal policies and procedures for divisional accounts; analyzes, and implements internal financial reporting systems and procedures.
- Performs customized financial analyses, including complex budget projections, analyses of activity, and cost feasibility studies to facilitate decision-making and planning. Prepares materials to summarize and justify program budget requests, including data gathering/reporting and trend analyses in connection with budgetary formulation and administration. Prepares and present benefits related proposals for specific projects or ongoing operational needs.
- Administers and monitors the processing of all benefits documentation to ensure compliance with policy, procedure, and regulatory requirements; provides input into the design, implementation, and/or modification of documentation, as appropriate.
- Compiles, analyzes, and reconciles financial and statistical data, and generates a range of individual and group financial and statistical reports for management.
- Oversees and coordinates the generation of benefits adjustments from PeopleSoft, ensuring accuracy of benefits deductions; makes corrections and adjustments as necessary.
- 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. Reconciles benefit liability and expense accounts on a monthly basis, providing explanations for variances to prior month, quarter, year and budget as required.
- Oversees the preparation and evaluation of requests for proposals (RFP's) involving benefits.
- Participates in the review and development and/or modification of department operating procedures and systems; provides input into the development and modification of operating policies.
- 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.
- Suggests and develops reports that will further the missions of Human Resources and the University. Design and implement improved methods for compiling existing information to improve reporting capability and information.
- Performs other job-related duties as assigned.
- Bachelor's degree in business administration, accounting or other job-related discipline and five years of auditing, cost accounting and/or financial analysis experience.
- Knowledge of cost and financial accounting principles, practices and procedures.
- Knowledge of principles and techniques used in conducting management studies and financial analyses.
- Knowledge of internal control systems and procedures.
- Skill in performing complex numerical calculations and reconciliations.
- Skill in the use of personal computers and related financial and statistical software products. Effective written and oral communication skills.
- Problem solving and attention to detail skills.
- Ability to work well in a team environment, handle multiple tasks with deadlines and pressure, adjusting work schedules to meet deadlines.
- Ability to query, gather data, compile information, prepare reports and analyze information.
- Knowledge of state and federal laws pertaining to employee benefits, COBRA, and IRS Section 125, including ACA.
- Knowledge of retirement and health and welfare benefit programs, preferred.
- Knowledge of open enrollment systems and procedures.
- Knowledge of insurance carrier procedures and requirements.
- Ability to make evaluative judgments.
- Ability to work with standard software packages in a Windows-based environment, proficiency in Microsoft Excel, Microsoft Word and database systems.
- Knowledge and understanding of employee benefits principles, practices, procedures, and documentation.
- Knowledge of computerized human resources and payroll systems (PeopleSoft preferred).
- Skill in developing policy and procedure documentation.
- Ability to analyze and develop creative solutions to complex benefits issues.
- Knowledge of billing and collection procedures.
- Ability to communicate effectively and interact well with people of all ages and diverse backgrounds.
Equal Employment Opportunity
The University of Delaware is an Equal Opportunity Employer which encourages applications from Minority Group Members, Women, Individuals with Disabilities and Veterans. The University's Notice of Non-Discrimination can be found at http://www.udel.edu/aboutus/legalnotices.html