What are the responsibilities and job description for the Financial Analyst (IT PMO Analyst) position at Carenet Health?
Overview
The Financial Analyst (IT PMO Analyst) is responsible for providing financial support and analysis to the IT department, enabling effective project financial management, budgeting, forecasting, and reporting. The IT PMO Analyst works closely with IT leaders to analyze the IT budget, assess variances, and prepare forecasts. This role also works closely with project managers, program managers and portfolio management to ensure IT projects are estimated correctly and that impacts to the portfolio are managed.
Responsibilities
- Collaborate with project managers to develop project budgets and forecasts.
- Monitor project expenditures and ensure compliance with budgetary constraints.
- Create annual IT project portfolio budgets.
- In partnership with the IT Portfolio Director and IT VPs, prepare an annual IT budget that incorporates overall IT capital and operating spend.
- Conduct variance analysis on overall IT budget by category (example: capital and operating spend, broken out by the accounting type.
- Track and report on variances between budgeted and actual costs to IT leadership.
- Prepare financial reports, including project financial status, cost-benefit analysis, and financial KPIs.
- Communicate financial information to stakeholders in a clear and concise manner.
- Develop financial projections for ongoing and future IT projects.
- Work closely with IT leadership to prepare financial projections for the overall IT capital and operating budget.
- Provide insights and recommendations for resource allocation and funding prioritization.
- Evaluate vendor proposals and agreements to ensure cost-effectiveness and vendor selection.
- Maintain inventory of all IT vendor contracts and spend including purpose, cost, expirations, and renewals.
- Ensure adherence to financial policies, procedures, and regulatory requirements.
- Support internal audits related to project financials.
- Monitor IT time sheet reporting compliance, identifying issues and errors.
- Identify opportunities for process improvement in IT financial management and reporting.
- Implement best practices to enhance financial efficiency.
Qualifications
- Bachelor's degree in Finance, Accounting, Business, or a related field.
- At least 5 years of proven experience as a financial analyst, preferably within an IT or project management context.
- Proficiency in financial modeling and analysis, budgeting, and forecasting.
- Strong knowledge of project management principles and IT project lifecycles.
- Knowledge of IT vendor management related to vendor costs and renewals.
- Excellent communication and presentation skills.
- Proficiency in financial software and tools (e.g., Excel).
- Analytical and problem-solving skills with attention to detail.
- Ability to work collaboratively with cross-functional teams.
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