Financial Analyst - Chicago, United States - MacArthur Foundation

Description

The Finance Department is responsible for all accounting, banking, payroll, budget, internal control, tax, audit and financial reporting for the Foundation. The team is also responsible for maintaining the financial enterprise systems and end user support and training on those systems.

The Financial Analyst is an integral part of the Financial Planning and Analysis (FP&A) team within the Finance Department, who has developed a broad knowledge of FP&A practices. The Financial Analyst will primarily assist the Finance Manager in the maintenance and support of accounting, budget and financial systems and related processes as well as maintaining dashboards, scorecards and other enterprise level operational metrics for the Foundation.

The Financial Analyst will partner with finance and non-finance stakeholders across all major functions of the Foundation and will support business leaders through reporting and variance analysis. The ideal candidate will collaborate with our accounting team during month-end close periods and function as the system administrator of our consolidation and reporting software, have the ability to synthesize information and develop data-driven presentations for senior leadership. In addition to supporting the financial planning and analysis functions within the Finance Department, the Financial Analyst drives change and provides insight into leveraging existing financial systems to improve current processes related to operational transactions, budgeting and forecasting, with active contribution of ideas, opinions, and skills toward the achievement of common goals, and partnership with other knowledgeable experts as to what is best for customers and the Foundation.

Job Description

Essential Duties and Responsibilities:

Budgeting and Forecasting

• Support FP&A team with the annual budget development cycle including but not limited to budget planning and monthly forecasting and periodic spending plan modeling
• Support the monthly forecast process and analyze variances between actual results and budget/forecast, identifying key drivers
• Partner with key business leads across all cost centers to lead the budget and forecast formulation and execution and provide insights into future financial performance
• Assist with preparation of agenda and meeting materials for monthly Budget Update meetings with senior leadership
• Assist with preparation of internal financial and budget reports for Board Budget and Compensation Committee meetings, including variance analysis
• Support FP&A team with preparation and maintenance of cash forecasts, charitable payout forecasts, grant funding source forecasts
• Responsible for the accuracy and functionality of Workday Adaptive Planning system
• Serve as budget administrator for Finance cost center; prepare annual administrative expense budget and update monthly administrative expense forecasts

• Develop and maintain financial models to support budgeting, forecasting, strategic initiatives, business plans, and cash management decisions
• Provide insightful financial analysis and reporting to support key decision-making processes within the organization
• Conduct sensitivity analyses to assess the impact of different spending scenarios

• Develop, maintain, and monitor recurring periodic financial scorecards, key performance indicators (KPIs), and models to support the Foundation's strategic planning process. This includes collecting industry benchmarks, developing and updating KPIs, tracking performance against targets, identifying trends, and making recommendations to improve operational efficiencies
• Leverage Workday ERP system to define, generate and monitor KPIs in support of Foundation-wide initiatives across programs and departments; support Business Intelligence with data validation and accuracy
• Build specific MacArthur Foundation knowledge and general private foundation sector knowledge to develop a strong understanding of relevant financial metrics
• Prepare comprehensive monthly, quarterly and annual financial reports, dashboards and presentations, highlighting key findings, trends and areas of expense savings and process improvement opportunities. This includes analyzing financial results, preparing variance analyses, and communicating key findings to stakeholders
• Conduct thorough financial analysis, including variance analysis, trend analysis, and scenario modeling, to provide actionable insights and recommendations to the senior leadership
• Partner with programs and departments to implement solutions that effectively visualize KPI data for easy interpretation and analysis. This includes creating and maintaining dashboards and scorecards to allow for transparent business processes and comprehensive reporting of financial data

• Collaborate with programmatic and departmental teams to develop and implement financial plans and strategic initiatives. This includes working with budget administrators and budget owners to understand their financial needs and providing guidance on financial matters
• Analyze financial data and provide insights to senior management to support decision-making. This includes identifying trends, risks, and opportunities and making recommendations to improve operational efficiencies
• Identify process improvements to reduce process cycle times, improve financial forecast quality, and enhance information provided to leadership for business decisions

• Work closely with cross-functional teams to gather relevant financial information and ensure alignment with Foundation goals; build trusted relationships and gain an understanding of relevant business drivers unique to each team
• Build and maintain robust driver-based forecasting models in partnership with cross-functional business leaders
• Demonstrate intellectual curiosity and manage interdependencies on other Foundation processes to meet Finance deadlines

• Support ad-hoc financial analysis and special projects as needed. This includes providing financial analysis and support for new grantmaking initiatives, new software platforms, and other strategic projects
• Respond to inquiries from stakeholders across Foundation programs and departments regarding financial performance and projections
• Identify opportunities for process improvements within the FP&A function
• Stay updated on industry trends and best practices in financial planning and analysis

• A bachelor's degree in finance, business or related field
• Three (3) to five (5) years Financial Planning & Analysis experience, or directly related finance/accounting experience
• Excellent written and oral communication and presentation skills as well as superior quantitative acumen and organizational skills
• Experience with the use of ERP systems; Workday Financials and Adaptive Planning experience is a plus
• Experience with data analysis, trend analysis, financial modeling and scenario planning
• Advanced knowledge of Microsoft Excel and PowerPoint; experience in visual storytelling with data using both applications
• A willingness to advance your understanding of finance and accounting, particularly with financial statements, reporting variances/drivers, and scenario analysis; advanced knowledge of budget and forecast principles.
• Strong quantitative skills, with the ability to interpret complex financial data and draw meaningful conclusions
• Resourceful, detail-oriented mindset for continuous improvement
• Ability to collaborate in team environment, work independently, coordinate the efforts of others and work well with colleagues at a wide range of levels
• Proven track record of critical thinking, performing comprehensive analysis, synthesizing data, and communicating insights in a clear and concise way