Director of Budget and Financial Planning
- Posted: over a month ago
Director of Budget and Financial Planning
Lorain County, OH
Compensation Compensation & Benefits Package
The Director of Budget and Financial Planning will be developing, organizing and performing budget activities, data extraction and analysis, and internal and external reporting duties; ensuring compliance with budgeting processes and procedures; and implementing financial modeling techniques for a private college.
Director of Budget and Financial Planning Responsibilities:
- Work closely with divisional budget managers and provide leadership in the development and implementation of the College’s annual operating budget. Prepare annual budget allocation correspondence College-wide to include an analysis of issues that impact each area. Respond to requests for budgetary information; Assess various training and development options and make recommendations on which to use to ensure efficiency and effectiveness of overall budgeting and financial management processes at all levels of the College
- Align the budget request process with the strategic planning process and provide expertise and assistance College-wide. Oversee all aspects of the preparation, communication, maintenance, analysis and oversight of the College’s annual operating budget; identify opportunities to eliminate redundancies and create efficiencies to ensure College resources are focused on the strategic goals set by senior leadership
- Make procedural and policy recommendations for budgetary changes as appropriate;
- Develop procedures to provide staff training and information to other departments to facilitate their understanding of budget reports and data;
- Allocate time to Continuing Professional Education not only to maintain CPA license, but to focus on industry related accounting changes as well as to further develop leadership skills including communication, conflict resolution, project management, active listening, negotiation, etc.
- Identify opportunities to cross train finance and accounting personnel, especially at key levels, for succession planning and business continuity purposes; ensure documentation of process and procedures are updated on a regular basis
- Continuously evaluate processes within the accounting and finance functions to ensure staff time is spent on value added functions and that technology is being utilized to capacity, reducing redundancies, and improving internal controls of monitoring
- Develop and use complex systems, databases, and report writing queries to extract, analyze, summarize, and report data such as operating and capital budget activity, revenue and expense trends, and instructional program costs;
- Conduct analyses of the College’s budget allocations. Analyze drivers, trends, and make policy recommendations based on the analysis of the data;
- Evaluate and improve budget monitoring and control strategies, including the maintenance and accuracy of budget data and the analysis of budget versus actual results;
- Provide the College’s senior management team and the Board of Trustees with forecasts of the College’s financial performance; provide information about the financial decision-making process through analysis, financial projections and reporting;
- Develop, project and refine long-range planning and budget models (models include but not limited to endowment spending, interest expense, and depreciation expense);
- Develop, project and refine models to predict tuition and revenue accounting for the variable factors that will affect overall revenue. Analyze enrollment data and identify revenue and expense trends.
- Monitor actual tuition revenue against projections and provide necessary variance reporting. Model and communicate the impact to the College’s senior management team;
- Assists with feasibility studies, process improvements/re-engineering and achieving executive management strategic objectives, benchmarking, strategic planning development and evaluation of key performance indicators;
- Work closely with the Department of Human Resources monitoring employee position and salary information and recommending process improvements;
- Work closely with the Controller’s Office monitoring monthly activity such as payroll, cost allocations, and recommending process improvements;
- Work closely with the CIT in developing process and reporting improvements;
- Provide financial data and reports to external agencies and organizations;
- Assist in the preparation of management reports for senior leadership and the Board of Trustees;
- Respond to ad hoc requests for financial information;
- Assist with external survey requests;
- Work with external auditors and consultants as necessary to ensure budgeting and financial planning and reporting conform to industry standards
- Work often independently under broad organizational guidelines to achieve divisional objectives and manage departmental requests;
- Other duties as assigned.
- Bachelor’s degree, preferably in accounting, finance, or other relevant field.
- Five or more year of related financial experience in a similarly complex organization.
- Expertise with Microsoft Excel
- Familiarity with higher education policies, practices, and financial trends.
- Certified Public Accountant (CPA) preferred
- Ability to work as a team member.
- Ability to read, analyze, and interpret various accounting standards / publications, financial reports, and legal documents.
- Ability to respond to common inquiries or complaints from college stakeholders. Strong attention to detail.
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