IT Financial Analyst II - Part Time

OU Health•Fredericksburg, VA

About The Position

The IT Financial Analyst provides guidance and oversees Enterprise Technology Solutions (ETS) contract matters to ensure compliance with policies and procedures. Coordinates with ETS, contract management, legal, and project teams to provide feedback for new vendors, renewal agreements, and modifications to them. Provides handoff to project intake and works closely with the PMO to track contracts as it relates to projects. The position will monitor, track, and analyze the ETS department budget, ensuring expenditures align with the allocated budget and providing insights into budget utilization.

Requirements

Bachelor’s degree required.
3-5 years of experience working specifically on IT contracting required.
Knowledge of Procurement Principles and Practices
Proven experience in IT budget monitoring, financial analysis, and contract management.
Strong analytical, numerical, and critical thinking skills.
Proficiency in budgeting and financial analysis tools, as well as Microsoft Excel, Teams, SharePoint
Project Management skills
Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.
Detail-oriented with a high level of accuracy and organizational skills.

Nice To Haves

Bachelor’s degree in Law (LLB), Logistics, Supply Chain Management, Finance or Accounting preferred.
Healthcare IT contracting experience preferred.
3–5+ years of financial analysis, including budgeting, forecasting, spend analysis, and variance review.
Hands-on experience with procure‑to‑pay (P2P) financial processes such as tracking POs, invoices, accruals, aligning spend to contract terms, and assessing the impact on budgets and the P&L.
Demonstrated capability in IT budget management, including tracking large, fixed departmental budgets and monitoring spend across software, infrastructure, and telecom.
Knowledge of software procurement processes, Workday Strategic Sourcing, and IT service contracts is a plus.

Responsibilities

Responsible for managing IT contract life cycles and ensure timely renewal of essential ETS services to minimize disruptions and maintain operational efficiency.
Key contact and subject matter expert for complex outsourced service agreements as well as enterprise software, infrastructure, and telecom contracts.
Works with BAA, MSA, and SOW agreements.
Sets up contract agreements for new IT suppliers and enters them into appropriate system for tracking.
Reviews, revises, and provides contract recommendations to reduce risk.
Develops negotiating strategies, identifies risk, and offers alternatives to address risk.
Communicates contract issues and explanations to management and facilitates issue resolutions.
Assists ETS staff in obtaining RFP bids for all IT and peripheral products as requested.
Develop and implement checklists, quick references, and procedures for contract management and administration to ensure compliance with policies and procedure manuals.
Oversees IT Contract reviewers as the ETS primary point of contact and coordinates with each reviewer to provide feedback to Contract Team.
Provide guidance and training on IT contract matters to ETS staff in terms of contracting practices and procedures periodically.
Represents company in contract dispute resolution with vendors.
After contracts are negotiated and executed, responsibility continues for ongoing contract management (to determine necessity for amendments or extension of contracts, compliance to contractual obligations, and/or termination) and administration, including change control management.
Works with ETS, Legal and Supply Chain, and any other staff to maintain the repository for all IT contracts.
Develop and maintain relationships with both the suppliers and with ETS leadership.
Coordinate with budget teams from OUH accounting and ETS.
Analyze and report on budget utilization, highlighting variances and potential areas for cost savings.
Collaborate with finance and procurement teams to reconcile budget discrepancies and ensure accurate financial reporting.
Analyze historical spending trends and current budget utilization to provide insights and recommendations for optimizing ETS expenditures.
Consult with department heads and project managers to understand budget requirements and provide guidance on budget allocation and utilization.
Generate regular reports and dashboards to communicate budget status, renewal timelines, and cost-saving opportunities to senior management.
Works closely with the ETS IT Program Manager to manage and track the overall ETS portfolio budget, including multiple projects, initiatives, and operational expenses.
Provide regular updates and forecasts on portfolio budget utilization, identifying risks, opportunities, and recommended actions to maintain alignment with organizational goals and financial targets.
Continuously review and optimize ETS budget monitoring, renewal management, software procurement processes, and procurement review to enhance efficiency and cost-effectiveness.
Implement best practices and innovative solutions to streamline workflows and improve financial management.
Be active on company user group committees and/or process improvement teams in leadership and/or support roles.
Implements continuous improvement activities