Senior Financial Analyst

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Senior Financial Analyst

Salary

$88,718.00 - $130,469.00 Annually

Location

Rochester MN 55904, MN

Job Type

Regular FT

Job Number

20250015

Department

Finance

Opening Date

02/26/2025

• Description

• Benefits

• Questions

POSITION DESCRIPTION

The City of Rochester invites applications for:

Senior Financial Analyst

The City of Rochester is committed to a community where all members feel a sense of belonging. We commit to recognizing the diversity of our community members, listening to ALL voices and providing equitable services to create an inclusive place to live, play and work.

We believe EQUITY should be at the center of all our work. We strive to represent our community in our teammates, as we know that diverse and inclusive teams are more innovative, and have an empowering impact on the work, progress and culture of our community.

It takes us all working together.

Nature of Work

The Senior Financial Analyst performs a variety of high-level accounting functions which may include, working with month and year end close, preparation of the City of Rochester's bi-annual budget, six year forecast, year-end projections, risk-based internal audits, Net Pension Liability, Assessments, Developer Agreements, Destination Medical Center Corporation (DMCC), and Mayo Clinic’s Bold Forward Unbound (BFU) Initiatives, sales tax analysis, Tax Increment District Reporting, Accounts Payable review, Transit program monitoring, Airport Reporting and providing other account analysis as assigned.

In addition, these positions provide high-level support to the Finance Director.

Work Environment: This position has a hybrid option, where teammates can choose to work remotely a few days a week.

Pay: The starting salary range is $88,718 to $104,375 depending on qualifications, with advancement to $130,469.

To have your application considered in the first round of reviews, please apply before March 20, 2025.Applications will be accepted until the position is filled.

DUTIES AND RESPONSIBILITIES

The work below is representative of the scope of work performed within this job classification.

Individual job duties will vary based on work assignment.

*Perform work associated with Bold Forward Unbound (BFU) Initiatives

• Serve as a point of contact between the Finance Department and other City Departments engaged in BFU initiatives to ensure alignment with project goals and budgets.

• Conduct financial analysis and forecasting to support decision-making processes.

• Provide insights and recommendations based upon financial data.

• Prepare and submit timely and detailed financial reports required by grantors, auditors and other stakeholders.

• Monitor grant funds utilization; review post-award requirements; provide guidance to ensure compliance with grants, project requirements and reporting.

*Perform work associated with the Destination Medical Center Corporation (DMCC)

• Assist management in the reporting and accuracy of Master Applications for Payments (MAPs) of DMCC and DMC Economic Development Authority (EDA) submittals.

• Review and monitor funding for expenditures, work with General Accountants to create necessary transactions.

• Create financial reports related to DMCC accounts as requested or required by management, local, and state agencies.

• Accurately create and analyze work papers for audits of the DMCC activity.

*Perform work associated with local option sales tax activity

• Create monthly allocations to fund projects, along with reconcile various Sales Tax dollars in total.

• Analyze available funds, history of use as of funds, as well as projections.

• Serve as a point of contact for questions from Administration or the Finance Director.

*Perform year-end projections

• Properly calculate and understand the timing of benefit payments as well as the number of payrolls left till year end.

• Analyze financial revenue and expenses by business unit, fund and account to project the remaining year’s spending. Check and verify reasonableness.

• Work with divisions on spend analysis and provide suggestions on solutions.

  *Analyze Six-year forecast

• Create and present complex formulas, graphs, multi sheet ties, and pivot tables, using Excel and PowerPoint to City Management and City Council.

• Analyze strategic data and associated “what if” scenarios, reconcile budget variances, as well as decipher future outcomes for estimates on tax levy and fund use.

• Assist the Finance Director and Finance Manager in collecting and verifying data accuracy and preparation of the annual Operating Budget.

• Review and analyze the budget estimates provided by select City departments. Work with various division/department heads to resolve questions and issues.

*Analyze assessments and developer agreements for construction projects, between the City and the existing owners or developers.

• Serve as backup to evaluate fees such WAC, SAC, MSA, street, sewer and construction which have various funding sources.

• Reconcile multiple monthly assessment reports, record appropriate journal entries, review LOGIS software transactions and automated entries for accuracy and resolve data discrepancies by working with departmental staff.

• Prepare various accounting transactions including the completion of assigned reports, journal entries, account analysis, various monthly tasks (reconciliation and reporting processes), and time sensitive tasks that are requested by upper management for urgent reporting needs.

• Participate in the design, implementation, and upgrades to accounting software systems.

*Assist with the preparation of the annual Tax Increment District (TIF) Report required by the State Auditor and with the preparation of the Annual Federal Single Audit Report.

• Monitor Council agendas for activity associated with TIF districts.

• Maintain a thorough understanding of the workings of TIF districts and the related State laws.

• Monitor financial transactions related to TIF projects.

• Complete the annual State Auditor report and complete the required summary information for local publication.

• Prepare work papers related to all Federal grants received by the City.

• Reply to various questions/inquiries from the City's external auditor.

• Provide backup documentation that supports the auditor's work papers.

*Ensure compliance with established internal control procedures by examining records, reports, operating practices, and documentation.

• Maintain internal control systems by updating audit programs and recommending new policies and procedures.

• Communicate existing internal control policies and procedures, as well as any future changes, to City staff.

• Verify assets and liabilities by comparing physical and monetary items to accounting records and financial reports.

• Perform physical observations and testing of the receipting of revenues, cash management, fixed assets, etc.

• Complete audit work papers by documenting audit tests and findings.

• Communicate audit findings and recommendations by preparing a final report; discussing report with auditees, Accounting Manager, Finance Director and/or the City's Audit Committee.

*Provide financial information, account analysis and review efficiencies of City operations.

• Prepare special audit and control reports by collecting, analyzing, and summarizing operating information and trends.

• Analyze City general ledger account balances for accuracy.

• Assist the Accounting Manager and the Finance Director with preparing workpapers for the external auditors.

• Review and approve various transactions processed by Finance staff.

*Review Capital Improvement Projects (CIP)/Job Costing

• Perform accounting and project reporting for departments and managerial staff as requested for CIP projects.

• Work directly with departments and Finance liaison to provide a communications link of project status and funding needs for a multitude of construction projects.

• Reconcile project funding sources, expenses and encumbrances to assure accuracy.

• Review completed construction projects, process the necessary RCA's as well as properly record project closings.

*Provide guidance and assistance with financial and accounting processes to the Finance team as well as other departments and divisions.

*Assist with the preparation and coordination of the annual external financial audit and the preparation of the Annual Comprehensive Financial Report (ACFR).

*Prepare\approve various accounting transactions.

*Assist with various other financial/accounting processes and departmental needs.

*Perform other duties as assigned or necessary.

*ESSENTIAL FUNCTIONS

MINIMUM QUALIFICATIONS

Education and Experience:

Bachelor's degree in finance or accounting and three (3) years of progressively responsible experience in general accounting and/or governmental accounting, cost/project accounting, auditing and internal controls, financial cost analysis, financial reporting and budgeting.

Licenses and/or Certifications

Valid driver's license

Desirable Qualifications:

Certified Public Accountant (CPA), Certified Internal Auditor (CIA), or Certified Management Accountant (CMA) designations.

ADDITIONAL INFORMATION

PHYSICAL AND ENVIRONMENTAL CRITERIA

In compliance with the Americans with Disabilities Act, the following represents the physical and environmental demands for this position. The employee must be able to perform the essential functions with or without accommodation.

In consideration of the overall amount of physical effort required to perform this position, the work is best described as Sedentary Work: Exerting up to 10 pounds of force occasionally and/or a negligible amount of force frequently or constantly to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met.

Physical demands that may be required continuously (2/3 or more of the time), frequently (1/3 to 2/3 of the time), and occasionally (up to 1/3 of the time) are noted below:

Continuous demands: sitting, fine dexterity Frequent demands: standing

Occasional demands: walking, bending, lifting, reaching, handling

Sensory requirements necessary in the performance of the essential functions of this position include: sight, hearing, and touch

Environmental conditions that may exist in the performance of the essential functions of this job include:

NONE (not substantially exposed to environmental conditions)

EMPLOYEE BENEFIT AND RETIREMENT SUMMARY (https://www.rochestermn.gov/home/showdocument?id=36371&t=637988555643816877)

01

The following supplemental information may be used as a scored evaluation of your knowledge, skills and experience. Be certain that the choices you make correspond to the information you have provided in your application and resume. By completing this supplemental questionnaire you are attesting that the information you have provided is true and accurate. Any information provided may be reviewed by the hiring manager. Any misstatements or falsification of information will eliminate you from consideration or may result in dismissal. Do you understand and agree with this statement?

• Yes

• No

  02

  Which of the following best describes your level of education?

• High school diploma or equivalent G.E.D.

• Completion of a 2 year program or degree

• Completion of a 4 year program or degree

• Completion of a Master's degree or higher

• None of the above

  03

  Other than your High School diploma/GED, which of the following best describes the field of study for your degree?

• Accounting

• Finance

• Business

• A field of study closely related to the above

• My degree is in an area NOT RELATED to any of the above

• N/A - I do not have a degree

  04

  Which of the following best describes your years of progressively responsible experience in general accounting and/or governmental accounting, cost/project accounting, auditing and internal controls, financial cost analysis, financial reporting and budgeting.

• No experience

• Less than 3 years

• More than 3 years, but less than 5 years

• More than 5 years, but less than 7 years

• More than 7 years, but less than 10 years

• 10 or more years

  05

  Does your accounting-related employment experience include working with any of the following? (Select all that apply)

• Financial projections and forecasts

• Budgets

• Master application payments

• Audit workpapers

• Job Cost Accounting

• Accounts Payable

• Budget for CIP(Capital Improvement Budget)

• Project Accounting

• Project Funding Strategies

• Auditing

• Federal and State Grant accounting and reporting

• Creating/preparing financial and budget reports

• Developing/implementing and/or modifying accounting software programming/tables

• Assessments

• Evaluating fees for public infrastructure

• N/A - None of the above

  06

  Which of the following best describes the size of the organization, in terms of total annual budget where you obtained a majority of your years of accounting/finance experience?

• Less than $25 million

• More than $25 million, but less than $100 million

• More than $100 million, but less than $250 million

• More than $250 million, but less than $500 million

• More than $500 million

• N/A - None of the above

  07

  Which of the following best describes your years of full-time equivalent employment experience with cost accounting and project accounting?

• No experience

• Less than 1 year

• More than 1 year, but less than 3 years

• More than 3 years

  08

  Does your project accounting experience include any of the following? (Select all that apply)

• Analyze various capital projects for proper funding and expenditures, and process the necessary journal entries

• Review agreements/contracts between various developers for financial implications related to the organization

• Reconcile assessment data related to the various capital improvement projects

• Monitor various sources of funding for capital projects, including Federal, State, and local grants and private funding from local organizations

• N/A - None of the above

  09

  Which of the following best describes your experience with governmental accounting?

• Limited – Taken classes related to governmental accounting, as part of my degree or taken governmental CPE credited classes

• Moderate – Performed some accounting functions or auditing for governmental entities

• Extensive – Worked in a governmental accounting position where a majority of my duties were subject to GASB accounting principles

• N/A – I have no governmental accounting experience

  10

  Please indicate any of the functions that you are able to successfully perform in Excel: (select all that apply)

• Formatting

• Data Filter, Validation

• Importing/Exporting Data

• Pivot tables

• "If, then" statements

• Logical statements (not, or, true)

• Vlookups

• Using formulas - sum, average, count

• None of the above

  11

  Tell us how your professional, educational and lived experiences would help you be successful in this role.

  12

  CONDITIONS OF EMPLOYMENT: City policy requires that finalists are required to undergo a background investigation which may include, but not limited to: verification of employment and educational records, identification verification, driver's license record and a criminal history. Please note that a criminal conviction does not automatically disqualify an applicant from consideration for employment with the City of Rochester. If selected as a finalist, are you willing to undergo a background investigation?

• Yes

• No

  Required Question

Employer

City of Rochester

Address

201 4th Street SE Rochester, Minnesota, 55904

Phone

(507) 328-2555

Website

https://www.rochestermn.gov/employment

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