Financial Professional

Position Overview

The primary purpose of this position is to perform professional accounting requiring the application of general accounting principles for sponsored and non-sponsored accounts within the Medical School-Duluth Campus. Responsibilities include monitoring and reconciling non-sponsored accounts; preparing financial reports for internal review; reviewing and analyzing revenue and expenditures; preparing and processing journal entries and direct retro adjustments; preparing expense and payment documents and deposits;

serving as primary/secondary approver for financial transactions; entering payroll distributions, setting up combo codes, and resolving payroll discrepancies; preparing budget journals;
Billing Specialist; assisting with annual budget preparation, and serving as a resource to faculty and staff to resolve issues and answer questions.

20%:
Preparing Financial Reports for Internal Review, Reviewing and Analyzing Revenue and Expenditures, Serving as a Resource to Faculty and Staff

• Use UM Analytics to recreate and maintain automatic financial reports that are useful to faculty, department heads, and supervisors for making financial decisions.
• Review and analyze revenue and expense transactions, monitor account balances, research discrepancies, assist faculty/staff regarding chartstring balances and questions, incorrect charge issues, PCard, purchase requisition, and invoice questions, and questions regarding University policies and procedures; make recommendations to supervisor regarding corrections.

15%:
Preparing and Processing Journal Entries and Direct Retro Adjustments, Processing Budget Journals

• Review and analyze financial transactions and account balances and perform calculations to prepare and process correcting journal entries and annual or periodic journal entries.
• Calculate salary and fringe amounts to be transferred between EFS account strings to prepare and process direct retro (payroll) adjustments and set up salary distributions; process budget journals to add new chart strings to EFS; enter combo codes for payroll entries.

15%:
Serving as Approver for Financial Transactions

• Serve as primary approver in EFS for all non-sponsored PCard transactions, all non-sponsored purchase requisitions under $10,000, all non-sponsored vouchers under $10,000, and all non-travel sponsored documents under $1,000 for the Medical School-Duluth Campus.
• Serve as secondary approver in EFS for all non-sponsored expense reports for the Medical School-Duluth Campus.
• This approval process includes careful review and analysis of financial documents to ensure compliance with all University policies and procedures.

10%:
Payroll Functions

• Enter payroll distributions for Medical School-Duluth Campus employees in the HRMS system.
• Set up combo codes; verify and record correct combo codes and employee pay amounts.
• Research and resolve payroll discrepancies.
• Clean up payroll default account strings for new employees to remove salary expense wrongly charged to a general default account string.

5%:
Preparing Expense and Payment Documents and Deposits

• Prepare expense reports for reimbursement of out-of-pocket expenses to faculty and staff; prepare check requests, process invoices, prepare purchase requisitions, perform PCard reconciliations, and receive invoices for multiple departments within the Medical School-Duluth Campus.
• Prepare check deposits for all departments within the Medical School-Duluth Campus.

5%:
Billing Specialist

• Create bills to internal and external customers (including UM Foundation) using the Accounts Receivable system; monitor accounts to ensure receipt of payments.

10%:
Assist with Annual Budget Preparation and Budget Entry

• Assist Finance Manager with annual budget by sending emails regarding expected revenue, expense, and balance amounts to individual faculty members on their startup and release accounts; performing detailed analysis and reporting of transfer‑in and transfer‑out transactions for the previous fiscal year and the current fiscal year; entering all non‑payroll budget lines into the budget system; monitoring the entire budget for entry errors and advising…