Financial Analyst III, City of Detroit
Financial Analyst III - City of Detroit
Salary: $74,896.00 - $93,021.00 Annually
Location: MI 48226, MI
Job Type: Certified-Regular Civil Service
Job Number: 20220313205103OCFO-JS
Department: Off Chf Financial Officer
Opening Date: 08/28/2023
Closing Date: 09/18/2023
The Office of the Chief Financial Officer - Office of Departmental Financial Services - Government Operations Division is seeking to fill a Financial Analyst III position. Financial Analysts are responsible for creating and tracking budget to actual across multiple years; executing a month-end close process that includes variance analysis and forecasting; creating an annual and multi-year budget; evaluating regulatory provisions and the impact on the budget; evaluating applications for grant or loan money; evaluating the value and feasibility of projects and corporate entities involved in capital assistance proposals; evaluating the financial and operating capability of present and potential contractors; analyzing the financial impact of departmental programs and alternatives; preparing allotments and sub-allotments of funds for distribution to program managers; providing guidance concerning the legal and regulatory aspects of the acquisition and use of funds for programming and administrative purposes.
Examples of Duties
• Partners with City Agencies to oversee the development of multi-year operating and capital plans, reserve forecasts, and long-range financial strategies • Manages the strategic financial modeling, annual target setting, and annual business planning process for City Agencies to assess financial implications and support complex business decisions • Informs investment decisions by analyzing financial information to forecast City, industry, or economic conditions • Prepares plans of action for investment, using financial analysis • Recommends, develops, implements, and monitors financial and operational policies, guidelines, processes, procedures, internal controls, and performance measures • Analyzes and evaluates the financial and business operations and transactions engaged in by many different departments/agencies • Engages in all aspects of setting and refining strategy, major strategic analyses, and the operating budget for City Agencies • Performs cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods • Evaluates monthly financial and operational performance against plan, prior year, and forecast • Drives functional enhancements to planning and forecasting processes and activities and implements best practices • Analyzes and reviews prior year expenditures, grant balances, and fund sources and prepares detailed financial forecasts, cost projections, and recommendations based on actual results • Prepares, provides, reviews, and responds to requests and inquiries regarding financial, expenditure, revenue/fund status, appropriation transfers, supplemental appropriations, and variance reports to management to enable financial and budgetary monitoring and control • Prepares regular and ad-hoc financial and operational reports • Consults with managers to ensure that budget adjustments are made in accordance with program changes • Performs special projects and other duties as assigned
EducationFor all Financial Analysts it is a requirement to have completed a bachelor's degree from an accredited college or university, with major course of work in accounting, business, public administration, or a closely related field. Such education must include at least twenty-four (24) semester (36 terms) credits of coursework in accounting, finance, or economics. In addition, Financial Analysts with a master's degree, such as Master in Business Administration, Master in Finance, Masters in Economics, and other appropriate and related courses of study meet the minimum experience required for Financial Analyst II. Experience For selection, appointment to a Financial Analyst level II or higher, in addition to the minimum education requirements, more progressive levels of experience are required based on the following: Financial Analyst III – at least three (3) years of experience Equivalency Equivalent combinations of education and experience that provide the required knowledge, skills, and abilities will be evaluated on an individual basis.
To apply to this position, please utilize the link provided below: