What are the responsibilities and job description for the Business Finance Specialist position at University of Massachusetts Medical School?
Overview
GENERAL SUMMARY OF POSITION:
Under the direction of the Senior Administrator or designee, the Business Finance Specialist assists with managing the department or programs financial activities and medium to large-scale research projects in accordance with UMass Chan Medical School grant and contract policies and procedures. This includes, but is not limited to, assisting with developing budgets for grant and contract applications, reconciling expenditures, and projecting account balances. This position will also assist in preparing and/or reviewing documents/electronic forms associated with budget maintenance, grant proposals, and financial issues such as purchasing, invoicing, travel reimbursements, payroll, and effort reporting. The Business Finance Specialist will provide support with grant submissions in coordination with the principal investigator and the Department’s administrative team.
Responsibilities
MAJOR RESPONSIBILITIES: • Partner in the preparation of the department/division's annual budget and report variances and recommend corrective action. Provide forecasts as needed• Monitor revenue and expenditure activity on Departmental/Divisional allocations• Monitor and track contract budgets, milestones, invoices, effective dates, and balances ensuring compliant management.• Advise PIs and research staff on financial and personnel decisions regarding their projects.• Support principal investigators and research staff in developing budgets and justifications for grant and contract applications and ongoing projects by compiling and analyzing expenditure data.• Report budget line variances and create forecasts on expenditure trends.• Monitor financial activity for appropriateness of expenditures in relation to project goals and objectives ensuring the expenses are reasonable and compliant with the budget, any allocations/re-allocations are made timely, and funds use alignment to Umass Chan Medical School, State, and funding agency guidelines.• Prepare account balance analysis and projections on various cost centers/projects on a monthly basis.• Prepare grants for submission and ensure all application guidelines and rules have been followed and that applications are submitted timely per UMMS Chan Medical School guidelines.• Partner with faculty in the preparation of any interim funding reports per sponsor guidelines• Review grant transactions (invoices, contracts, purchases) and follow close out and financial reporting policies and procedures • Provide support and guidance to investigators and research study staff on issues related to grants management, institutional policies related to handling funds from grants (i.e. travel regulations, re-budgeting, program reports, grant routing). • Understand and adhere to University, State, and sponsor agency regulations• Researches, gathers, analyzes & summarizes data for reports as directed by the Senior Administrator.• Pre-review, post-review, and initiate personnel effort changes in the effort reporting system based on analysis and in partnership with the faculty and the Senior Administrator.• Inform on any new information regarding UMass Chan Medical School and funding agency policies and procedures with the PI and administrative staff.• Assist in determining space and facility needs for department faculty• Work and communicate with principal investigators, research and administrative staff, collaborating stakeholders in a professional manner. • Performs other duties as required
Qualifications
REQUIRED QUALIFICATIONS:
- Bachelor's degree in business administration, economics, finance, accounting, operations, public health administration, or other related field OR four (4) years of experience in a directly related field.
- Minimum two (2) years of experience in accounting, financial and/or human resources reporting.
- Demonstrated ability to manage multiple projects and deadlines simultaneously
- Ability to interpret technical and detailed guidelines, policies and procedures, as well as, explain or describe moderately complex information and presentation materials
- Proficiency with computerized financial and/or human resources information enterprise systems, office productivity software, electronic calendaring, email, word processing, databases, spreadsheets, graphic presentation software and internet research
- Excellent critical thinking and problem-solving skills
- Strong communication skills
- Ability to manage and maintain confidential and private information; uses confidential, sensitive and/or private records and information, protects information appropriately
Additional Information
PREFFERED RESPONSIBILITIES:
- Experience coordinating full annual cycle budgets.
