Financial Analyst I

Jan 11, 2024

Texas Health and Human Services Commission
Job Description:
**Teleworking up to 5 days per week is available for this position subject to established policies**Under the direction of the IT Business Operations Budget Management & Forecasting Director, the Time & Cost Allocation Analyst position performs complex work compiling, reviewing, and analyzing financial data. Responsible for compiling time effort reporting data for accurate resource profiles, responding to time effort resource inquires, generating and analyzing time effort reports, and preparing reports for cost allocation and project staff costs. Analyzes financial data, time effort results, and benefitting use information. Monitors and follow-ups with management for compliance reporting to ensure complete time cost allocation reporting within deadlines. Researches technical questions regarding the time effort reporting systems. Assists in the development and use of consistent processes and procedures for compliance reporting and report development in the reporting of cost allocation data. Develops and maintains processes and procedures related to the Time and Cost Allocation team. Position may train others and cross-train with others. Work outside of regular hours may be required. Travel to other work locations may be required. Performs other duties as assigned.
 

Essential Job Functions:
Manages and administers time effort reporting and/or time allocation systems. Monitors and follow-ups with management for compliance reporting to ensure complete time cost allocation reporting within deadlines. Researches technical questions regarding the time effort reporting systems and responds in a timely manner. Provides training materials and trains users as requested. Assists managers with project time tracking needs by informing them of system capabilities and setting up canned reports to meet specific time allocation reporting needs. [25%]

Compiles time effort reporting data, generating and analyzing time effort reports, and preparing reports for time effort-based factors used in cost allocation and project cost reporting in a timely and accurate manner.
Ensures complete, accurate financial data is gathered for each assignment. Consolidates input from multiple sources, resolving inconsistencies, and streamlining overall product. Responds to inquiries within requested timeframes and with accurate data. Ensures documentation for reports and project time tracking procedures is well-documented and easy for others to understand. [25%]

Tracks, manages and maintains list of project and funding codes for cost allocation and projects. Assist with determining, performing and maintaining funding code setup within five working days of receipt of approved request. Determines and plans approval for funding code setup as needed. Makes initial entry of funding codes based on project approval. Responds to inquiries regarding available funding codes. Revise project or task codes based on approved project modifications. Monitors and archives codes based on project close out or withdrawal. [20%]

Analyzes financial data, time effort results, and benefitting party information for cost allocation. Interprets and maintains knowledge of cost allocation regulations. Accurately interprets and applies regulations to specific situations. Makes recommendations to resolve issues in specific situations. Implements approved recommendations within approved deadlines. Appropriately escalates implementation issues. [10%]

Assists in the development, maintenance and use of consistent processes and procedures for compliance reporting and report development in the reporting of cost allocation and project cost data. [10%]

Attends work on a regular and predictable schedule in accordance with agency leave policy and performs other duties as assigned. [10%]

 

Knowledge Skills Abilities:
-Minimum 1-year experience in financial analysis work.
-Minimum 1-year experience preparing financial or resource allocation reports for leadership.
-Knowledge of legal restrictions governing the allocation of state and federal funds, particularly for IT.
-Knowledge of time allocation and resource allocation systems.
-Knowledge of statistical analysis processes.
-Knowledge of cost allocation methodologies and processes.
-Skill in the use of a computer and applicable software, including but not limited to Microsoft Outlook, Excel,
Word, and other governmental financial applications.
-Skill in communicating verbally and in writing, including preparing clear and concise reports and
correspondence regarding financial analysis results.
-Skill in analyzing financial data and formulating analytical solutions.
-Skill in producing quality, detailed work within short deadlines.
-Skill in quality assurance skills, ensuring all documents submitted conform to agency and federal and state
guidelines and requirements.
-Ability to provide quality and efficient customer service to our customers.
-Ability to gather, assemble, correlate and analyze financial data and administer processes and tools.
-Ability to perform and interpret financial and management records analysis in complex situations.
-Ability to interpret, apply, and explain statutes and regulations to others.
-Ability to analyze, evaluate, and summarize financial and management records for accuracy and
conformance to procedures, rules, and regulations.
-Ability to work independently and organize/prioritize work.
-Ability to coordinate and facilitate solutions across multiple groups internally and externally.
-Ability to document policies, procedures, and processes.
-Ability to provide good supporting documentation.
-Ability and willingness to occasionally work overtime and on weekends in order to manage workload.

 

Registration or Licensure Requirements:

 

Initial Selection Criteria:
-Experience in financial analysis work.
-Experience in preparing financial or resource allocation reports for leadership.
-Experience with financial / accounting / project reporting software applications.
-experience with Microsoft Excel.
-experience with Microsoft Outlook.

 

Additional Information:
In-basket will be required if selected for an interview.
Overtime and work on weekends required occasionally in order to manage workload.

 

MOS Code:
89A, LS, 020, 3402, 6F0X1