Financial Analyst (Contracts and Receivables)

State of Washington Office of Financial Management; Washington (District of Columbia); Hybrid; USD 60,000 - 76,000; Full time

Benefits offered by this job

Flexible work schedules

Telework opportunities

Medical, dental, vision insurance

State retirement programs

Vacation leave (14 days) and 12 paid (

Tuition reimbursement

Infants-at-Work program

Job summary

State of Washington Office of Financial Management seeks a Financial Analyst in the Fiscal and Operations Unit to manage accounts receivable, contract billing, and transition work toward Workday. The role supports agency invoicing for OFM, GOV, and OII with monthly/quarterly/annual reporting and reconciliation processes.

The position requires a bachelor's degree with accounting credits and 2 years of accounting experience, strong MS Office skills, and the ability to research information from

Qualifications

• Bachelor's degree with 18 quarter hours or 12 semester hours in accounting, auditing, or budgeting.
• Two years of relevant professional accounting experience with advanced/fiscal analysis.
• Demonstrated ability to research and analyze information from multiple sources.
• Strong technical skills with Microsoft Office products and financial/reporting systems.

Responsibilities

• Accurate and timely processing of all accounts receivable invoices for OFM, GOV, and OII.
• Develop electronic tracking system for monthly, quarterly, and annual invoicing.
• Review contracts to identify accounts receivable implications.
• Research discrepancies and process corrections as needed.
• Provide monthly/quarterly/annual reporting to agency leadership on outstanding receivables.
• Develop reconciliation processes for AR systems with general ledger accounts.
• Document processes for Workday AR processing readiness and compare to Workday.
• Audit daily accounts payable transactions.
• Verify batch transactions match payments (vendor, coding, amounts).
• Maintain payable contract records and interagency agreement tracking.
• Track contracts/balances electronically and update accordingly.
• Communicate with leadership about activity exceeding contracted values or dates.
• Participate in monthly financial statement review and close.
• Process corrections so month-end statements are accurate.
• Communicate with agencies about outstanding/aged receivables.
• Identify outstanding receivables and coordinate with agencies for required documents.

Education

Bachelor's degree with accounting hours

Tools

Microsoft Excel

Accounts receivable systems

Job description

Financial Analyst – Fiscal and Operations Unit

As a Financial Analyst within the Fiscal and Operations Unit, you will provide contract and billing services. In addition, you'll be responsible for updating and ensuring the Agency Billing System and accounts receivable system accurately reflects the Central Service Model receivables for OFM and GOV as well as a large volume of interagency agreements and contracts receivable. This includes reconciling general ledgers associated with accounts receivable using the accounts receivable system, Enterprise/Web Intelligence reporting and subsidiary tracking systems. You'll play a pivotal role in the transition to Workday as the agency expert on all accounts receivable for OFM/GOV/OII. You'll support accounts payable functions by auditing and verifying disbursements to vendors, maintain customer accounts, enter fiscal transactions, and prepare periodic reports and statements for agency management.

Salary

The starting salary offer will be determined based on the successful candidates' qualifications within the budgeted salary range of $ 60,000 - $76,000 annually. However, there is ability for longevity growth and progression in salary for the individual once employed.

Working Hours / Location

This position is flexible/hybrid, with the ability to work from home, and some travel to monthly/quarterly in person meetings.

Who we are

Our work at the Office of Financial Management (OFM) serves as a crucial part of the decision-making that the governor, Legislature and state agencies do each year. As an employee of OFM, you will be part of a team of dedicated professionals who work hard every day to provide the vital information and services they need to serve the people of Washington. If playing a key role in supporting and improving state government matters to you, you've found the right place!

What we offer our employees

• Foster an environment of diversity, equity, inclusion and belonging. We strive to hire, cultivate and retain a competitive workforce that reflects the communities we serve.
• Encourage a healthy life/work balance by offering flexible/alternative work schedules, wellness program, mobile arrangements and telework opportunities.
• Employees (and their families) have coverage options for medical, dental, vision and basic life insurance.
• Opportunity to enroll in state retirement programs and a deferred compensation plan.
• A minimum of 14 days of vacation leave per year and 12 paid holidays throughout the calendar year.
• OFM offers a commute trip reduction program, tuition reimbursement, membership to statewide Business Resource Groups and an Infants-at-Work program.
• See our Benefits page for more information.

Duties

• Accurate and timely processing of all accounts receivable invoices for the Office of Financial Management (OFM), the Office of the Governor (GOV), and Office of Independent Investigations (OII).
• Develop electronic tracking system for all monthly, quarterly, and annual invoicing for OFM/GOV/OII.
• Review contracts to identify accounts receivable implications.
• Research discrepancies regarding past due accounts, and process corrections as needed.
• Provide monthly/quarterly/annual reporting to agency leadership related to outstanding receivables.
• Develop reconciliation processes for accounts receivable system for applicable general ledger accounts.
• Document all processes to ensure readiness for Workday customer (accounts receivable) processing and compare current processes to Workday processes to identify deficiencies.
• Audit daily accounts payable transactions.
• Review and verify batch transactions match the intended results of the payment batch (i.e., correct vendor paid, coding, dollar amounts).
• Maintain detailed payable contract agreement records and interagency agreement tracking to ensure agency is following contracts.
• Develop electronic processes to track and update contracts and balances.
• Communicate with agency leadership if activity is more than contracted values or if contract exceeds dates of agreement.
• Actively participate in monthly financial statement review (pre-close meeting).
• Process corrections so that month end financial statements are accurate and complete.
• Communicate with agencies regarding outstanding/aged receivable balances.
• Identify outstanding receivables and connect with other agencies to ensure documents required to remit payment have been received (invoices/backup documentation/contracts).

Qualifications

Required

• A Bachelor's degree, which includes 18 quarter or 12 semester hours in accounting, auditing, or budgeting (professional experience may substitute for education, but not the required credit hours).
• Two years of relevant professional accounting experience, one year of which was performing advanced/complex accounting and /or fiscal analysis.
• Demonstrated ability to research and analyze information from multiple sources.
• Strong technical skills to produce quality work products using multiple types of Microsoft office products, various financial and reporting systems.
• Intermediate to advanced skills utilizing Microsoft products.

Desired

• Knowledge of and experience with AFRS, Enterprise Reporting, SAAM and GAAP.
• Proficient in Microsoft Outlook, Excel, Word, Teams, PowerPoint, Adobe Pro, and virtual meeting/conference platforms.
• Embrace lean leadership and the development of the lean culture at OFM/GOV/OII.
• Value and participate in continuous process improvement.
• Striving for more effective ideas for process improvement.
• Embrace change and be ready to learn in a changing technology environment in preparation for Workday, the Financial System Replacement.

Equal Opportunity Employer

The Office of the Governor is an equal opportunity employer. We strive to create a working environment that includes and respects cultural, racial, ethnic, sexual orientation and gender identity diversity. Women, racial and ethnic minorities, persons of disability, persons over 40 years of age, and disabled and Vietnam-era veterans are encouraged to apply.

Special Note

This is an exempt, at-will position. If you are leaving a state classified position to accept this exempt appointment, you may be eligible for return rights that are outlined in WAC 357-19-195.