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University of Wisconsin - Madison

Position Vacancy ID: 82547
Title: FINANCIAL SPEC 3

Working Title:FINANCIAL SPEC 3
FTE:1
Schedule - Range:02-12
Organization:COLLEGE OF LETTERS AND SCIENCE - CHEMISTRY
Schedule
Comment:		Regular hours: 7:45am-11:45am, 12:30am-4:30pm, Monday through Friday.

Job Summary:The Financial Specialist 3 supports all accounts payable functions and general department financial analysis for the Department of Chemistry. The Department has over 500 employees, over 40 research groups and an operating budget of approximately 12 million dollars.

This role is an advanced level Financial Specialist within the UW-Madison Chemistry Business/Purchasing Office that has been granted full accounts payable delegation from UW-Madison Purchasing Services. In addition to issuing specific orders and non-contract blanket orders, the Purchasing Office issues contracts and blanket orders against UW-Madison, UW System and Department of Administration contracts. The approximate total number of orders placed, and invoices paid, annually by Chemistry is 13,000 with a total value of 4.7 million dollars.

The Financial Specialist is responsible for auditing and approving payments of invoices against orders assuring compliance with UW-Madison, UW-System and State policies, procedures, rules and regulations. This individual independently researches and resolves invoice problems, communicates with vendors, purchasing office staff, accounts payable auditors, and vendor relationship staff to resolve discrepancies. This role often coordinates and negotiates with vendors and outside institutions to resolve payment issues and must have in depth knowledge of the scope of contracts as it relates to pricing structures, required billing procedures and firm price or discount agreements. This position also serves as the Procurement Cards Site Manger for Chemistry, responsible for auditing and approving all procurement transactions.

In addition, this role provides general financial analysis and reporting on all Department or Chair accounts. This position provides support to the Department Administrator and the Executive Director on reconciling discretionary accounts and provides general query and financial analysis to all the business office functions.

 

Goals and Worker Activities

A.50%With campus delegated authority, Independently audit and approve payment of invoices against orders, assuring compliance with UW-Madison, UW-System and State policies and procedures.
1.Develop and implement ongoing improvements to the purchasing and accounts payable processes within this Department. Attend delegated purchasing meetings and stay current on purchasing and accounting policies in order to respond and recommend changes to financial procedures that maintain compliance and improve efficiency, economy and timeliness.
2.With delegated authority, audit and verify the receipt of materials or performance of services. This includes verification of prices, discounts and checks of invoice tabulations. This includes being familiar with complex payment arrangements such as cost splits across institutions in and outside of the University. This also includes coordinating the positive approval process with PIs and researcher.
3.Audit payment requests and schedule payments in accordance with vendor terms and the Prompt Payment Law. This includes developing processes and reporting to highlight invoices that are past due, incomplete, or require more analysis.
4.Independently research, resolve, and respond to vendor inquiries regarding payment status, disputes, etc. Represent the department and campus in resolving these issues with the vendor.
5.Follow up with vendors on credits and invoices to finalize Return Material Authorizations (RMAs) and orders. Liaison with our research groups, purchasing, carriers and vendors to coordinate resolution to all issues relating to returns and return payments.
6.Represent the department and campus when Working with purchasing agent to investigate, analyze and respond to auditor's questions and or disputed invoices. Determine if transactions are to be accepted, rejected, require additional information, or corrective action. Inform all parties accordingly.
7.Become expert at using and leveraging the internal purchasing work flow system AESTIVA. Specifically analyze order lifecycle to identify shipping and billing issues that may result in payment delays or errors. Responsible for reporting to the Department Administrator regarding the status of past due paybles and billing problems.
8.Maintain accurate and complete files that comply with UW Audit requirements.
   
B.10%Develop and maintain positive ongoing working relationships with a designated group of vendors serving UW-Madison, and UW-Madison personnel.
1.Provide advice, interpretation and information to UW-Madison vendors on UW-Madison, UW-System, state and federal policies and procedures through personal contact, telephone communication, or written correspondence.
2.Analyze the process from the perspective of both the University and the vendor, and advise the vendor on how to prevent future billing problems.
3.Formulate recommendations on changes to financial procedures to promote efficiency, economy and timeliness.
   
C.15%Serve as Procurement Card Site Manger for the Chemistry Department. This includes 4 purchasing cards.
1.On a bi-weekly basis, use Procard software to assign and audit funding and class codes for credit card transactions. Determine if transactions should be approved, rejected or if further discussion is required with end user or the Department Administrator.
2.Ensure that all cardholders are following cardholder guidelines by providing their ledgers and receipts in a timely manner. Contact cardholders to resolve any issues concerning improper use of cards. Responsible for recommending process improvements to ensure that guidelines are appropriately followed.
3.Coordinate resolution of fraudulent charges with cardholders, Accounting Services, and UW bank.
4.Oversee the reconciliation of charges to the accounting system (WISDM) on a monthly basis.
5.Maintain a permanent filing system of transaction documentation and logs that meet the campus record retention requirements.
6.Work with cardholders on the design and implementation of the various transaction logs using Excel spreadsheets.
   
D.25%Financial Management - prepare, reconcile, audit and review accounting records for the Department or Chair non-Federal gift, Federal grants and contract accounts plus state, campus and school funds including graduate school and other research.
1.Independently develop monthly complex budget versus expenditures variance reports for all Department grants of past and current expenditures using computerized spreadsheets for review by the Department Administrator, PIs and Department Chair.
2.Monitor initiation of transactions on new funding sources to ensure correctness of set-up, tracking and development; monitor ongoing funding sources.
3.Review, compile and post transactions and reconcile Department accounts with WISDM. Investigate discrepancies and pursue adjustments as necessary. Monitor and coordinate inter-fund transfers among all Department accounts.
4.Audit assigned Department or Chair grant/contract accounts and prepare statements for Department adminstration showing complete status, commitments and grant ending dates.
5.Provide analytical and query support to the Business Office. Create ad hoc queries and reports to support all areas of the Business Office.
   

Knowledge and Skills

  1. Ability to understand the complex procedures required for invoice auditing, payment and reconciling as well as associated problem resolution.
  2. Ability to interpret general University and specific Business Services policies and procedures that apply to the purchasing, accounts payable, capital equipment, etc. functions of the position.
  3. Knowledge of accounting principles and mathematics.
  4. Knowledge of MS Windows operating systems and associated applications including Excel, Access, MS Word or the ability to convert current knowledge of comparable applications to MS applications quickly.
  5. Ability to use and interpret UW information systems such as HRS, WISDM, PVS and InfoAccess.
  6. Knowledge of modern office procedures. Ability to access Internet web sites to retrieve information, forms, etc. Ability to quickly learn and adapt to new tools and technology.
  7. Knowledge of organizational and time management techniques and the ability to apply them. Must be able to handle a variety of tasks with varying time constraints.
  8. Ability to accept and learn changing automated accounting and financial systems.
  9. Ability to resolve vendor and order related issues in a diplomatic and timely manner. This requires excellent analytical and problem solving skills.
  10. Ability to establish and maintain good working relationships with a variety of people at all levels inside and outside of the department.
  11. Excellent verbal and written communication skills and ability to relate complex information in an understandable fashion to a variety of people with various levels of knowledge on the topic.
  12. Ability to use customer service techniques to be responsive to customer or vendor inquiries and needs. Respond to inquiries fully and thoroughly. Ask questions to get at the specific issue so accurate information is relayed or retrieved.
  13. Strong skills in query building and analysis.

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