Budget Analyst

University of Maryland, Baltimore • Baltimore, MD

1d • $62,000 - $69,000

About The Position

The Division of Services Research at the University of Maryland School of Medicine’s Department of Psychiatry is seeking a detail-oriented Budget Analyst to join their team. The primary responsibility of the Budget Analyst is to support the financial planning and budgeting needs of research studies and departmental projects. This includes monitoring budgets, tracking expenditures, preparing financial reports, and ensuring compliance with funding requirements. The Budget Analyst will work closely with project managers and investigators to verify budget accuracy, assist with financial forecasting, and provide analysis to support decision-making. They will coordinate with finance and administrative staff to maintain budget records, monitor spending, and identify any variances or potential financial issues. Additionally, the Budget Analyst will assist in the preparation of grant budgets, financial reports for funding agencies, and contribute to the development of financial policies and procedures.

Requirements

• Education: Bachelor's degree in Finance, Accounting, Economics, Business Administration, or business-related field. Master's degree preferred.
• Experience: Two (2) years of experience in accounting, budgeting, or related field. Experience in contracts and grants is preferred.
• Other: Related experience may be substituted for education.
• Knowledge of position requirements. Knowledge of all applicable requirements, regulations, and laws. Skill in effective use of applicable technology/systems. Ability to effectively communicate both verbal and written thoughts, ideas, and facts. Ability to work cooperatively with others and independently. Ability to demonstrate, understand, apply, and adhere to the UMB Core Values of Respect and Integrity, Well-being and Sustainability, Equity and Justice, and Innovation and Discovery.

Nice To Haves

• Experience in contracts and grants is preferred.
• Master's degree preferred.

Responsibilities

• Assist with the development of the annual budget and quarterly projections for submission to the Budget Office. Recommend adjustments and cost-saving measures to optimize resource use.
• Identify and resolve budget-related issues by providing alternative solutions and closely monitoring expenditure.
• Responsible for preparing, analyzing, and reporting statistical data for departmental budgets, while maintaining this information and coordinating all necessary files into a united budgetary and financial forecast.
• Performs line by line trend analyses and financial forecasts of departmental budgets. Prepare reports to show budget status.
• Prepares and assembles statistical data and reports for use in budgetary evaluation, maintaining downloaded data to coordinate necessary computer files.
• Examines a variety of financial statements for completeness and accuracy and conformity with fiscal policy, assisting in maintenance and reconciliation where needed. Provides technical advice and assistance to departmental faculty and managers on adherence to budget and control procedures.
• Produce and analyze sections of special reports and projects or participate in additional departmental and administrative services as needed.
• Review historical award tracking systems for compliance and accuracy of reporting and develop new systems as needed.
• Programmatic objectives of sponsored program budgeting while adhering to grant and contract agency guidelines.
• Serves as the primary department liaison with sponsored agencies and UMB Financial affairs office in meeting post award reporting requirements.
• Provide guidance during all phases of the pre- and post-award process, including budget preparation, award setup, budget allocation, journal transfers, award modifications, cost transfers, sponsor reporting, closeout documentation, etc.
• Performs other duties as assigned.

Benefits

• UMB offers a comprehensive benefits package that prioritizes wellness, work/life balance, and professional development, along with additional exciting perks that employees can take advantage of.
• This position participates in a retirement program that must be selected and is effective on your date of hire.
• Exempt regular staff receive a generous leave package that includes over 4 weeks of vacation accrued each year, paid holidays, unlimited accrual of sick time, and comprehensive health insurance; professional learning and development programs; tuition remission for employees and their dependents at any University System of Maryland school; and flexible work schedules and teleworking options (if applicable per job).

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 1,001-5,000 employees