Financial Planning & Analysis Manager

Howard Hughes Medical Institute
Chevy Chase, MD
Jan 08, 2022
Jan 19, 2022
Full Time
Primary Work Address: 4000 Jones Bridge Road, Chevy Chase, MD, 20815Current HHMI Employees, click here to apply via your Workday account.HHMI is focused on supporting and moving science forward in a variety of different ways ranging from conducting basic biomedical research, empowering educators, inspiring students, developing the next generation of scientists - even stretching into film and media production. Our Headquarters is in the greater Washington, DC metro area and is home to over 300 employees with expertise in investments, communications, digital production, biomedical sciences, and everything in between. The work housed here supports and augments the groundbreaking research conducted in HHMI labs across the nation. As HHMI scientists continue to push boundaries in laboratories and classrooms, you can be sure that your contributions while working here are making a difference.Summary: As the Financial Planning & Analysis Manager, you will be responsible for the development of annual operating and capital expenditure budgets, periodic forecasts, long-range plans, and monthly variance analyses for assigned areas. In addition, you will coordinate the consolidation of HHMI's total budgeting, forecasting, and long-range planning functions.Reporting to the Senior Director, you will lead a talented team of three FP&A professionals and provide broad support for their day-to-day financial planning and budget support for departments and teams at our headquarters campus. You will make recommendations and provide independent, substantive support to the Senior Director including the preparation of reports and presentations to management and the Board. Serving as a subject matter expert, you will support HHMI's financial systems and provide ongoing support of financial business systems and process documentation for HHMI management. A key component of this role is the responsibility to explain and synthesize concepts and data in a written format.In this role, you will:Strategic Support - Provide management reporting and analysis to enhance the quality of decision-making for HHMI. Review all management reports and analyses for accuracy and adequacy, identify and report on trends, monitor budget variances and timely alert the Senior Director on potential issues, engage in financial modeling and long-range planning, identify, and incorporate new measures into the planning and management reporting process as necessary, and provide ad-hoc financial analysis.Budgeting - Manage the process for developing the annual operating and capital expenditure budgets for assigned areas, in close coordination with various budget owners. Ensure that the key elements of the process are defined well in advance, timelines are established and communicated to the various constituents, appropriate guidance and support is provided to all budget owners, and the process is accomplished in a manner that minimizes stress and strain to all constituents, while at the same time enabling timely management review and approval of the budget. Responsible for ensuring that the approved annual budget is uploaded into the financial systems and reconciled.Management Reporting and Variance Analysis - Ensure that actual spending is tracked in a manner that enables consistent monthly and year-to-date reporting of actual expenditures vs. the budget in a format that is most useful for business decision-making. The level of budget detail collected is determined by senior management and has implications in terms of variance reporting. Provide monthly, quarterly, and ad-hoc financial reports, with appropriate variance analyses. Review reports and analyses for integrity of data, accuracy, reasonableness, and completeness. Review existing operating budget and capital project reports for appropriateness, adequacy, and simplicity; suitably modify them based on identified customer needs and ensure that they are easily accessible to the budget owners as management dashboards in Workday.Management of Capital Project Budgets - Assist various project owners in tracking the financial outlay on approved capital project budgets. Provide appropriate financial reports to senior management for these and other new projects. Forecasting - Manage the process of developing periodic forecasts for the full year, based on current actual expenditures and revised estimates for the rest of the year. Responsible for projections, analyzing and review of actual expenditures and recommending forecast adjustments as needed.Long Range Planning - Coordinate the consolidation of the rolling five-year, long-range plan as appropriate for HHMI, in close consultation with various budget owners, including critically evaluating all assumptions with regard to historical trends and future strategic direction.Systems Implementation - Maintain the existing electronic budgeting model used to develop departmental budgets. Assist in the maintenance of Workday Financials to support the budgeting process for assigned areas. Review the existing long-range financial planning model and modify or upgrade as appropriate. Liaison and Customer Service - Build strong relationships with all budget owners to ensure collaborative efforts in preparation of budgets and forecasts. Serve as a resource to the budget owners and as the subject-matter expert on budgets, actual expenses and causes for variances. Solicit input and feedback on proposed improvements to budget and reporting processes and implementation / upgrades of software. In all areas, provide assistance with a high customer service orientation. Team Building and Department Management - Provide guidance to and manage the performance of the Headquarters Financial Planning & Analysis team, ensuring that employees understand and contribute to HHMI's overall mission. Instill a strong sense of customer service among staff and provide direction to help them achieve it. Allocate staff resources in a way that provides flexibility based on changing priorities. Seek opportunities for self and staff to increase expertise, efficiency, and effectiveness in the job. Interview, hire, orient, train, assign work to evaluate the performance of and, when necessary, discipline and discharge subordinate staff.Financial Planning and Analysis - Provide financial guidance and support for Headquarters budget owners, including Headquarters Operations & Administration, Science Activities Managed by President, Science Education, Major Projects, and Investments in the development of their annual operating budget, periodic forecasts, and long-range plan. Manage month-end close activities and review monthly results. Monitor operating expenses, develop, and implement cost control programs, monitor budget variance, and ensure adherence to the departmental budget.Other - Provide ad-hoc analysis and perform other duties as assigned by the Senior Director, FP&A.Education & Experience:Bachelor's Degree in Accounting or Finance or a combination of education and related experience.CPA and/or MBA preferredMinimum eight years of experience, with three years in a supervisory role.Experience in development of budgets and forecasts, management reporting and variance analysis.Experience in general accounting and financial reporting.Experience working in a life sciences research environment preferred.Working knowledge of computer based financial accounting systems with experience in system implementation. Knowledge of Workday and COGNOS, or similar systems preferred.Skills & Abilities:Comprehensive knowledge of Accounting and Financial Analysis, practices, and principles.Proven ability to perform in a consultative, collaborative manner and effectively influence people cross-departmentally to achieve financial goals.Excellent independent judgment and decision-making skills consistently demonstrating discretion, tact, and diplomacy.Must be able to function as a technical and subject-matter expert, with the ability to understand and articulate how and why things are done.Advanced skills in MS Office Suite.Ability to prepare accurate and appropriate documentation, financial reporting, and variance analysis.Proficiency in spreadsheet analysis, presentation, accounting, and report-writing with attention to detail.Excellent oral, written, and presentation skills; demonstrated ability to communicate and work effectively with individuals at all levels of the organization.Ability to take initiative, be creative and proactive, thinking 'out of the box' to find innovative solutions when faced with multiple time sensitive demands.Demonstrated leadership and management skills to provide direction and motivation to staff.Excellent organizational skills, with the proven ability to prioritize and manage multiple competing priorities, meet deadlines, and operate effectively in a fluid environment.Ability to be aware of the "big picture" yet able to provide the necessary detail; ability to effortlessly switch from macro to micro thinking.Physical Requirements:Remaining in a normal seated or standing position for extended periods of time; reaching and grasping by extending hand(s) or arm(s); dexterity to manipulate objects with fingers, for example using a keyboard; communication skills using the spoken word; ability to see and hear within normal parameters; ability to move about workspace. The position requires mobility, including the ability to move materials weighing up to several pounds (such as a laptop computer or tablet).Persons with disabilities may be able to perform the essential duties of this position with reasonable accommodation. Requests for reasonable accommodation will be evaluated on an individual basis.Please Note:This job description sets forth the job's principal duties, responsibilities, and requirements; it should not be construed as an exhaustive statement, however. Unless they begin with the word "may," the Essential Duties and Responsibilities described above are "essential functions" of the job, as defined by the Americans with Disabilities Act.HHMI is an Equal Opportunity Employer