Financial Analyst IV - Retirement Systems na City of Detroit, MI
City of Detroit, MI · Detroit, Estados Unidos Da América · Onsite
- Senior
- Escritório em Detroit
About the Department
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.
Position Duties
MAJOR DUTIES AND RESPONSIBILITIES
The duties and responsibilities specified below are representative of the range of duties and responsibilities assigned to this job class and are not intended to be an inclusive list.
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
Minimum Qualifications
MINIMUM QUALIFICATIONS
These minimum qualifications establish the education, training, experience, special skills, and/or license(s) which are required for employment in the classification. Minimum qualifications increase based on the level of the position. Note: additional qualifications (i.e., special conditions) may apply to a particular position.
Education
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.
In addition, Financial Analysts with a master’s degree, such as Master in Business Administration, Master in Finance, Masters in Economics, and other appropriate and related courses of study meet the minimum experience required for Financial Analyst II.
Experience
In addition to the minimum education requirements, the following experience requirements also apply:
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.
Preferred Experience
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.
Equivalency
Equivalent combinations of education and experience that provide the required knowledge, skills, and abilities will be evaluated on an individual basis. The knowledge, skill, and ability of a Financial Analyst increases with the level of responsibility and experience.
Other Qualifications
Evaluation Plan
- Interview: 70%
- Evaluation of Training, Experience & Personal Qualifications: 30%
- Total of Interview and Evaluation T.E.P: 100%
Additional points may be awarded for:
- Veteran Points: 0 – 15 points
- Detroit Residency Credit: 15 points
LRD: 10/16/2025
License / Certificates
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.
At the advanced level knowledge requirements might include comprehensive knowledge of:
Financial theory and principles and of business management operations and practices
Concepts, principles, practices, and methods of budget formulation, enactment and execution, accounting and finance functional area(s)
Obtaining, compiling, and summarizing narrative information and quantitative data for use by others
Economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data
Federal, state, and local legislation, regulations and ordinances affecting preparation, review, and implementation of operating and capital budget requests and financial analysis
Established work methods and procedures
Pertinent regulatory or statutory provisions in performing assigned financial and operational analysis and evaluation work
Operation and organization of the Departments and Agencies appropriate to the affected position
Techniques commonly used in locating errors in financial and operational reports and statements
Structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar
Personal computer capabilities and the application of computer systems to issues of format and content in City and departmental financial management
Mathematical and statistical procedures generally employed in the fields of financial asset investment, accounting, and budgeting to verify data, to project costs, to budget, etc.
Enterprise resource planning systems for finance, budget, general ledger, human resources, and other management systems and software programs
Skill in:
Identifying, synthesizing, and evaluating complex budget related issues and assignments, consolidating information from a variety of sources, and selecting appropriate analytical approaches
Presenting concise financial and operational information (orally, written, and/or using PowerPoint or Word) to a variety of audiences
Use of Microsoft Office (i.e. Word, Excel, Access, PowerPoint, and / or other office suite software packages)
Use of Excel (e.g. Pivot Tables, Vlookup, Hlookup, charts, tables, and / or other related software packages) functionality
Communicating in writing clearly and effectively, demonstrate this skill by rendering technical details and reports in a form readily understandable to management and the public
Understanding written sentences and paragraphs in work related documents
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems
Talking to others to convey information effectively
Establishing and maintaining good working relationship with other City employees and the public
Ability to
Collect, quickly interpret, and analyze information from a variety of sources, apply criteria, draw conclusions and develop recommendations, guidelines, and policies
Read, interpret, and effectively analyze professional and technical reports
Choose the right mathematical methods or formulas to solve a problem
Plan, coordinate, set priorities, and supervise staff and others engaged in diversified fiscal analysis and forecasting activities
Develop cost-benefit and business case analyses by consolidating information, identifying relevant data, and making logical assumptions to provide insight and recommendations with minimal errors regarding cost savings, optimal organization and financial structure, and program offering
Participate in decision-making sessions, provide guidance, and advisea number of program managers on legal and regulatory requirements, financial policies, the interpretation of data, potential roadblocks, and program improvements through analysis of fund requests, program operations, monthly reports, and special analysis
Communicate information and ideas clearly and effectively both orally and in writing so they can be understood
Read and understand information and ideas presented in writing
Add, subtract, multiply, or divide quickly and correctly
Apply general rules to specific problems to produce answers that make sense
Work tactfully and effectively with employees, supervisors and managers, taxpayers, and with elected and appointed officials and senior staff in assigned Departments and Agencies
Take initiative to acquire additional knowledge and education to remain current in field
Work as part of a team
PHYSICAL DEMANDS
The work is characterized as sedentary. Typically, Financial Analysts sit comfortably to do their work, interspersed by brief periods of walking, standing, bending, carrying of papers and books, and extended periods requiring the use of computer terminals to accomplish work objectives.
WORK ENVIRONMENT
Work is performed in a comfortable office environment which is appropriately lighted, heated and cooled. The work environment contains no significant hazards. Some work may require walking and standing in conjunction with travel to and attendance at meetings and conferences away from the work site. The Financial Analyst may encounter individuals that are upset.
During extended periods each year, Financial Analysts may be required to work considerable overtime.
ALL APPLICANTS MUST SUBMIT RESUME TO BE CONSIDERED!!!
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