Financial Analyst - Washington, United States - Disability Services

Description

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INTRODUCTION

Serves as Financial Analyst in the Department on Disability Services (DDS), Office of Administrative Services, Operations Division, Financial Services Unit.

The Financial Services Unit is responsible for providing and analyzing financial data for the agency, working with other Operations Units and service Divisions in helping create the annual budget and ensuring the agency stays within the budget; reallocating funds to pay invoices/provide services; collecting client entitlements/reimbursements; and helping ensure the agency and its providers remain in compliance with all applicable financial governing rules and regulations.

MAJOR DUTIES

• Coordinates with the OCFO and Department of Health Care Finance (DHCF) to gather data/report data to review financial information and forecasts for waiver.
• Complies information and performs analysis for the agency's CMS372(S) Annual Report on Home and Community Based Services Waivers and supporting information.
• Conducts financial analysis of current and past financial and performance data of the agency waiver utilization and spending. Prepares financial models, forecasting, reports, and projections/forecasts based on analysis. Maintains a trending and tracking system for spending that include monitoring the monthly burn rate of waiver expenditures.
• Performs a wide range of administrative and analytical functions regarding the agency's budget, spending tracking and projection, variances, and program services. Analyzes the financial status of funds regularly throughout the fiscal year. Reviews past and prospective operating budgets; assists program managers in budget development and justification. Assists Office of Chief Financial Officer (OCFO) staff assigned to the agency with budget preparation and reforecast process as needed.
• Conducts financial analysis of current and past financial and performance data of the agency and its two main service divisions. identifies potential problems relating to the budget status. Provides recommendations based on data/reports, as appropriate.
• Provides guidance and technical assistance to program managers including reports of regular and adhoc charts/dashboards with financial/numerical information for management review and briefing of Director, Chief of Staff and Deputy Directors and management level decisionmaking. Provides information regarding regulations and budget policies and projections of needs for program accomplishments, as appropriate.
• Analyses a division function/activity and produces report, e.g., how many invoices get revised/rebilled or how many duplicate bills are received, labor cost per client served, or cost(s) in finding employment for clients and provides recommendation(s) based on data/analysis.
• May advise on necessary review of new programs and the status of nonessential activities, with recommended actions, as appropriate, based on data/analysis.
• Assists with the preparation of the RSA 17 reporting data by linking all invoices related to expenditures with coding, monitor weekly and report missing data on a routine basis.
• Performs other duties as assigned or on own initiative.

QUALIFICATIONS
Applicant must have one (1) year of Specialized Experience at the next lower grade level.

Four (4) years of related work experience that equipped the applicant with the particular knowledge, skills, and abilities to successfully perform the duties of the position.

EDUCATION

Minimum requirement:
Bachelor's degree in accounting, business administration or related field preferred. An equivalent combination of education and experience is required.


WORK EXPERIENCE/KNOWLEDGE REQUIRED
Mastery of the concepts, principles, and practices of financial analysis including accounting and budgeting.

Comprehensive knowledge and understanding of Home and Community Based Services Waivers.

A high degree of skill in interpreting legislative and regulatory policy guidance to determine the effects on the assigned budget and programs, provide advice and guidance to budget and program management personnel of subordinate echelons and components, and make adjustments in resources to affected programs and activities.

Knowledge of budget and planning processes to determine adequacy of resources and effectiveness of use.


NON-UNION
This position is not in a collective bargaining unit.


Additional information
If tentatively selected for the position, a criminal background c