Division of Finance and Business Affairs
Position Title: Financial Analyst
Department: Business Office
FLSA (exempt or non-exempt): Exempt
Reports to: Director of Financial Services
Works Closely with: Senior Accountant, Human Resources Department and Student Financial Services staff; academic and administrative department staff
Directly Supervises: Accounting Clerk
Job Summary: The Financial Analyst performs a variety of duties in accordance with standard accounting procedures, under minimal supervision and guidance. The Financial Analyst checks and verifies data for completeness and accuracy and is responsible for the administration and oversight of the accounts payable and payroll functions. Work is subject to audit and verification.
This position has been designated as an “Essential” Employee under the Emergency Preparedness Plan in order to ensure that University operations continue uninterrupted during periods of public health or other emergencies, including those that require Millikin University to close or restrict operations.
All employees are expected to uphold the values of the university. At Millikin University, we value:
- Commitment to the discovery of knowledge
- Civil debate
- Passion and enthusiasm
- Dignity and respect for individuals
- A diverse and inclusive community
- Integrity and responsibility
- Advancement of the greater good
- Supervises administration of accounts payable and student payroll functions, as performed by Accounting Clerk; reviews functions for accuracy and serves as backup for both.
- Assists Human Resources Department by verifying and double-checking employment and payroll data entered into Banner; understands and implements proper taxation of payroll and benefits.
- Processes bi-weekly and semi-monthly payroll in accordance with federal and state tax law, with accuracy and minimal errors, and resolves discrepancies in a timely fashion; prepares payroll checks and direct deposit files within a timely manner.
- Issues payment for payroll taxes and 403(b) contributions within the timeframes established by the governing entities; keeps abreast of current payroll laws and researches issues as necessary.
- Calculates, withholds, and remits payment for deductions such as child support, wage garnishments, and tax levies.
- Files monthly and quarterly unemployment reports with the Illinois Department of Employment Security.
- Prepares quarterly and year-end tax filings as required, including quarterly 941 filings and annual 1099 and W-2 filings.
- Coordinates collection of University’s Perkins Loan program; works closely with third-party loan administrators to see loans through collection; processes deferments and cancellations as appropriate.
- With Accounting Clerk’s assistance, administers the University’s credit card program, including issuance and maintenance of cards, review of credit card statements for accuracy and approval, and processing of credit card statements for payment.
- Answers questions regarding department budgets or restricted accounts and helps resolve discrepancies; prepares and enters funds transfers as necessary.
- Prepares monthly operating statements, including statements of revenues and expenses; assists Director of Financial Services and Vice President of Finance and Business Affairs with preparation of other financial documents as needed.
- Prepares monthly budget variance analysis for review with Vice President of Finance and Business Affairs.
- Prepares University Cost Study with consultation of Provost and Deans.
- Maintains MUOnline and Banner budget databases, as needed; enters all budget changes; prepares budget reports as appropriate.
- Assists office with other projects and duties as required.
Minimum Position Qualifications:
- Associate’s or Bachelor’s degree in Accounting, Finance, or other business-related field.
- Two to five years’ experience in financial operations.
- One to three years’ supervisory experience preferred.
- Familiarity with higher education or non-profit business operations a plus.
- Self-motivated and highly organized
- Conscientious attention to detail
- Ability to manage multiple activities and deadlines
- Excellent communications skills, both verbal and written
- Proficiency in Microsoft Word and Excel; proficiency with typing and data entry
- Knowledge of payroll and tax law;
- Knowledge of financial aid regulations and familiarity with Banner highly beneficial.
- Dexterity to operate a keyboard; Use of 10-key
- Typically sitting at a desk or table
- Occasionally lifting up to 50 pounds
- Intermittingly sitting/standing/stooping
- Typical working conditions found in most administrative work areas
Hazards: No known hazards
Background Checks and/or Testing:
X Background and criminal history check
Driving record check
X Credit check
X Other: Typing and 10-key tests