Director of Financial Planning - 500389
Director of Financial Planning - 500389
The primary responsibility of this position is to oversee the Office of Planning and Budget(OPB), which creates, oversees and manages the University's operating, endowment and position budgets, including the reporting and control functions for both operating and capital budgets. The position assists the AVP with prudent management of daily cash flow needs for operating funds,, the allocation and investment of UR's operating funds in appropriate short, medium and long-term investment vehicles. The position works closely with the academic deans and their budget managers, the divisional vice presidents and other University administrators providing budget analysis to assist in strategic decision-making.
Budget Planning, Development, and Management
* Formulate budget policy, guidelines and directives required for financial planning, budget design, development, and control. Develops recommendations on major income sources (tuition, endowment payout, etc.) and expense items (salaries, fringe rates, financial aid, etc.).
* Manage the OPB's budget services initiative, providing departments with operating budget requests and stakeholder communication, including One on One meetings with administrative support on campus to assist with questions, reporting, and budgeting practices.
* Assist in creating the annual budget schedule and ensuring correctness of materials that are made available online for reference.
* Collect and perform analysis of financial data for benchmarking, trend analysis, and any other useful analysis that will assist the AVP in developing budget assumptions.
* Create and implement a budget forecasting process that provides timely identification of off-standard situations. Suggest solutions and work with the appropriate individuals to resolve the issues.
* Assist with development of the annual operating and capital budgets including definition of the process to be used by all units of the University; advising deans and school budget officers on budget issues; recommending budgets to the University officers; preparation of summary budget materials for consideration by the Board of Trustees.
* Manage the departmental operating budget request process which includes preparation and distribution of forms, divisional summary reports, and data for senior leadership; attending budget meetings with senior leadership to address questions; and ensuring budget data is uploaded in Banner.
* Oversee the development of the annual endowment and position budgets. Ensure appropriate allocations to endowed funds and schools, track data, analyze discrepancies, conduct analysis and upload data in Banner.
* Take a leadership role in the design and development of customized, computer-based management and reporting tools.
* Prepare and/or contribute to the preparation of reports, briefings, presentations and responses on budget and financial planning issues (compile, analyze, interpret and integrate financial data).
* Ongoing review of processes to promote continual improvement in efficiencies with a focus on ensuring the integrity of the budget data.
Cash and Real Estate Management
* Assist the AVP with an effective cash forecasting system and project long-term liquidity needs, ensuring adequate daily liquidity through effective duration management of operating funds and timely borrowing under bank credit facilities..
* Assist the AVP as a contact for property sales to or from the University, including home sales to faculty or staff, overseeing real estate closing process and creation of documents.
* At the request of the AVP, attend scheduled meetings, such as quarterly Information Services Policy Committee, Software Standards Committee meetings throughout the year, Banner User Group meetings as the representative for the Office of Planning and Budget
* Designs and implements educational sessions/materials for the University community on planning/budget policies and procedures. In conjunction with the Director of Accounting, lead an Accounting and Budgeting class that is offered every month to employees of the University that are involved with managing departmental budgets.
* Work closely with the budget and finance teams to establish overall expectations and annual objectives and conducts periodic evaluations.
* Advanced analytical and critical thinking skills.
* Strategic thinking and proven administrative and planning skills.
* Comprehensive knowledge of financial systems and budget and financial reporting processes
* Knowledge of reporting software (Discoverer, MicroStrategy, 5 year budget model)
* Proficiency with Microsoft Office suite of products
* Excellent written and oral communication and negotiation skills
* Presentation skills
* Ability to work collaboratively in a decentralized environment.
* Team building, mentoring and change management skills essential.
* Experience with cash management, forecasting, bank relations and negotiation of contracts and agreements
EDUCATION & EXPERIENCE:
* Bachelor's Degree in Business, Finance or related field
* 10 years of progressively accounting/financial planning/budgeting experience.
* Higher education or non-profit preferred
* Minimum 5 years supervisory experience
* Masters preferred
* This position is categorized at full-time and receives full-time benefits but may work a slightly reduced schedule, i.e.;
o a 10 month schedule
o a 12 month schedule with a reduced schedule in the summer months.
o The exact schedule will be determined between the successful candidate and hiring manager.