Financial Analyst IV - Retirement Systems

City of Detroit, MI•Detroit, MI

38d

About The Position

RESUME REQUIRED FOR CONSIDERATION!!! INCOMPLETE APPLICATIONS WILL NOT BE CONSIDERED The Retirement System of the City of Detroit, Investment Section, is looking to add a Financial Analyst IV to our team. The Financial Analyst IV will work within the Investment Team responsible for middle and back-office operations, settling trades and transactions, maintaining internal databases and systems, reporting on performance, and working closely with counterparties and custody banks. Work closely with the diligence function of the Investments Team before and after each investment is funded, as well as with the pension plan's finance function on accounting and audits. Financial Planning and Analysis consists of three main areas: (1) performing the annual and long-term financial planning processes, including project management responsibilities, development and analysis of budgets and forecasts, and design and compilation of presentation materials for internal and external audiences; (2) conducting ongoing analysis of organizational, financial, and operational performance, analysis related to specific projections or initiatives (including restructuring or efficiency), and benchmarking performance against peer organizations; and (3) designing and producing a suite of reporting materials related to organizational financial and operational performance for both internal and external audiences. Financial Analysts establish forecasts for the City and its Agencies by projecting future financial outcomes using historical financial and operational data, identified initiatives, external markets and economic conditions. Financial Analysts project revenues and expenditures for a series of years using a set of assumptions established by senior leadership. Financial and operational performance is measured by analyzing Income Statements, Balance Sheets, Statements of Cash Flow, general ledger accounts, cost center and other detailed financial and operational data. Financial Analysts use this data to evaluate, track, and report on the targets and measures of the City and its Agencies' goals, objectives, and benchmarks. Financial Analysts compare budget to actual data, calculate variances, ratios, and trends and identify performance of City Agencies in comparison to the City's budget. Financial Analysts, utilizing operational metrics, charts, graphs and spreadsheets, present findings and recommendations to the Chief Financial Officer (CFO) and identify risks associated with a City Agency's particular strategy or project. Financial Analyst IV This is the advanced level. The Financial Analyst may function as a lead analyst or head analyst. At this level, Financial Analysts are responsible for overseeing the work assignments of other professionals or have regular assignments which have been recognized as having significantly greater complexity than those assigned at the experienced level. Based on the program functional area, parenthetical titling may be used when special subject matter knowledge of a specific functional area is required.

Requirements

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.
For entry into the Financial Analyst position, Four (4) years of professional experience providing a systematic review, analysis, interpretation, and evaluation of budgets, loans or other financial data is preferred but not required. Financial Analyst must demonstrate proficiency with integrated word processing and spreadsheet functions.
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 IV - at least four (4) years of experience
For Financial Analyst IV, the Financial Analyst must have two (2) years of verifiable experience leading teams and/or providing guidance and training to subordinate staff.

Nice To Haves

Minimum three (3) years of work experience in an investment organization, such as a pension plan, endowment, foundation, private equity fund, or asset management firm.
Possession of a Certified Financial Planning and Analysis (CFPA) certificate sponsored by Association of Finance Professionals may be substituted for one year of Financial Analyst II experience. There may be a requirement for some positions to have or be working on achieving CFPA certification.

Responsibilities

Research and resolve investment operations and accounting issues in a timely and accurate manner
Identify, review and evaluate prospective investment opportunities
Ensure the integrity of performance data
Generate and reconcile weekly, monthly, quarterly and annual investment reports
Administers daily oversight of investment and settlement operations
Process investment cash flows and assist with cash forecasts
Maintain ongoing relationships with the custodial banks, vendors, and internal groups
Prepare materials for Investment Committee meetings and Board meetings
Track and maintain investment-related information on central spreadsheets and databases
Manage operations requests from Investment and Pension Officers
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 analyses
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