Job Information
City of Detroit Financial Analyst III in Detroit, Michigan
Financial Analyst III
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Financial Analyst III
Salary
$76,394.00 - $94,881.00 Annually
Location
Michigan, MI
Job Type
Certified-Regular Civil Service
Job Number
20240313205103FA3GO1OCFOJS
Department
Off Chf Financial Officer
Division
ODFS - Government Operati
Opening Date
01/14/2025
Closing Date
2/4/2025 11:59 PM Eastern
Bargaining Unit
9000-Non Union Salary Regular Service General
Description
Benefits
Questions
Description
Be a Part of the City You Love!
The Office of the Chief Financial Officer - Office of Departmental Financial Services Government Operations division is accepting applications for a Financial Analyst III position.
Position Summary
Financial Analyst III is an experienced level financial analyst professional within the City of Detroit Office of the Chief Financial Officer that requires limited direction and supervision. The Financial Analyst conducts complex analyses and provides recommendations concerning the City of Detroit financial and operational results. The key services provided include, but are not limited to: examination, review, study, or other financial analysis; preparing detailed reports to show sources of information and explain the basis for conclusions; making recommendations on the basis of detailed analysis and evaluation; creating and tracking budget to actual across multiple years; and executing a month-end close process that includes variance analysis and forecasting. Many of these services will be performed within the appropriate modules of the ERP Cloud that impact the operations of this position.
Office of Departmental Financial Services
Departmental Financial Services - Assure the effective management and financial integrity of agency operations by developing, implementing and monitoring city-wide and department-wide plans, policies and systems in the areas of program analysis/evaluation, strategic planning, and performance metrics. Agency Chief Financial Officers (“Agency CFOs”) will develop, track, and provide actionable data to assess the performance of City operations. Staff monitor project plans, track budget to actual spending and integrates budget/ actual financial data with agency operational data.
Examples of Duties
Plans, assigns, and coordinates the work of Financial Analyst I and II and other clerical and administrative staff
Using ERP Cloud applications performs the following activities:
Strategic planning, financial and operational analysis, budget preparation and analysis, and other critical analysis
Financial evaluation of agencies and departments
Strategic financial modeling, annual target setting, and annual business planning process for City Agencies to assess financial implications and support complex business decisions
Using Process Management to manage the financial review cycle
Development, implementation, and monitoring of financial and operational policies, guidelines, processes, procedures, internal controls, and performance measures
Partnering with City Agencies to develop and monitor multi-year operating and capital plans, reserve forecasts, and long-range financial strategies
Informs investment decisions by analyzing financial information to forecast City, industry, or economic conditions
Prepares plans of action for investment, using financial analyses
Conducts financial studies, research, analysis, and modeling to assess financial implications and support complex business decisions
Develops, implements, monitors, and ensures compliance of financial and operational performance measures
Engages in all aspects of setting and refining strategy, major strategic analyses, and the operating budget for City Agencies
Analyzes and evaluates the financial and business operations and transactions engaged in by many different departments/agencies
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
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
Examines budget estimates for completeness, accuracy, and conformance with procedures and regulations
Reviews operating budgets to analyze trends affecting budget needs
Provides complex technical consultation and assistance to management in preparing budgets, grants, proposals, and contracts; and interpreting and applying budget and financial guidelines
Draws charts and graphs, using computer spreadsheets, to illustrate technical report
Compiles and analyzes accounting records and other data to determine the financial resources required to implement a program
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
Minimum Qualifications
Education
For 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 providing a systematic review, analysis, interpretation, and evaluation of budgets, loans or other financial data.
Financial Analyst must demonstrate proficiency with integrated word processing and spreadsheet functions.
Equivalency
Equivalent combinations of education and experience that provide the required knowledge, skills, and abilities will be evaluated on an individual basis.
Supplemental Information
Evaluation Plan
Interview: 70%
Evaluation of Training, Experience & Personal Qualifications: 30%
Total of Interview and Evaluation T.E.P: 100%
Additional points may be awarded for:
Veteran Points: 0 – 15 points
Detroit Residency Credit: 15 points
LRD: 08/12/2024
EMPLOYMENT BENEFITS
The City of Detroit offers a competitive and comprehensive employee benefit package. We pride ourselves on the longevity of our employees. Part of the reason for the low turnover rate is the exceptional benefit package listed below. Benefits include, but are not limited to the following:
HEALTH
Medical - Eligible for hospital, surgical, and prescription drug benefits.
Dental
Vision
INSURANCE
Life Insurance - Optional group insurance available to employee and their family. The City pays 60% of premium for first $12,500 of employee life insurance. Employee may purchase, at own expense, life insurance for spouse and each dependent.
Long-Term Disability Insurance (Income Protection Plan) - The City offers disability insurance through payroll deductions for persons who become disabled and who are not yet eligible for a service retirement.
PAID TIME OFF
Sick Leave
Vacation
Holidays
OTHER LEAVE BENEFITS
The City also has the following paid and unpaid leaves; funeral leave, Family and Medical Leave, jury duty, military duty leave, unpaid personal leave,
RETIREMENT BENEFITS
City Employees Retirement System
As a regular City employee you automatically become a member of the General Retirement System. This entitles you to a retirement allowance after:
• Completion of thirty (30) years of service;
At age sixty (60) if you have at least ten (10) years of service, or
At age sixty-five (65) with eight (8) years of service.
• In the event of disability, other eligibility rules apply);
- An early, actuarially reduced, retirement is offered after you have attained at least twenty-five (25) years of service;
• Employees are vested after ten (10) years of service, regardless of age.
ADVANCEMENT OPPORTUNITIES - Employees have many opportunities for growth and career advancement throughout all City departments and divisions.
Have a successful career with the City of Detroit. Always remember that you are a part of a team with a common Vision of delivering excellent service to the citizens of the City of Detroit.
01
Please indicate your highest level of education completed.
High School Diploma/GED
Associate's Degree
Bachelor's Degree
Master's Degree
PhD/J.D.
n/a
02
How many years previous experience do you have providing a systematic review, analysis, interpretation, and evaluation of budgets, loans or other financial data?
0 - 2 Years
3 - 5 Years
6 - 9 Years
10 Years or more
03
Describe your previous experience providing a systematic review, analysis, interpretation, and evaluation of budgets, loans or other financial data below.
04
Describe your proficiency with integrated word processing and spreadsheet functions below.
Required Question
Employer
City of Detroit
Address
Coleman A. Young Municipal Center 2 Woodward Ave ste 316 Detroit, Michigan, 48226
Website
http://www.detroitmi.gov/Detroit-Opportunities/Find-A-Job
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