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How to Apply

A cover letter is required for consideration for this position and should be attached as the first page of your resume. The cover letter should address your specific interest in the position and outline skills and experience that directly relate to this position.

Job Summary

UM Risk Management Services has an immediate opening for a Financial Analyst.  Critical thinking and problem solving skills are required as well as strong collaboration and communication skills. The successful candidate must be able to function independently and require minimal day-to-day supervision to complete the job responsibilities in a timely and accurate manner.

Risk Management Services plays a key role in accurate budgeting and recharging of the insurance costs to various units throughout the University.  The primary customers for this role include Risk Management Services, departments throughout the university, external auditors and consultants.


  • Take a lead role in the annual insurance budget preparation including gathering exposure information and underwriting data from University departments and recharge units.
  • Assist with developing the premium recharge program and presentation of the insurance budget to recharge units.  Prepare and complete insurance premium recharges to appropriate departments based on the recharge summary.
  • Track and analyze actual premium payments to budget.
  • Complete necessary processes needed for premium payments and claim management expense recharge.  This work includes preparing and processing required Journal Entries between University chartfields.
  • Ensure accuracy of the financial records of the captive insurance company through reconciliation of  AR/AP balances within the  UM system and the captive insurance company’s financial statements including resolving outstanding items.
  • Review monthly department statements of activity and initiate corrections and recoveries of expenditures.
  • Process non-P.O. vouchers for payments to insurance vendors and Cash Transfer Authorizations for the transfer of funds between University and captive insurance company bank accounts.
  • Reconcile claim payments.
  • Prepare and submit periodic financial reports to management concerning expenditures, forecasts, receivables, reserves, and variances.
  • Advise vendors and other customers about the status of expected payments and research problems as needed. Analyze payments in an attempt to identify problems and propose suggestions for improvement to better serve our customers.
  • Ad hoc reporting, special projects and strategic support utilizing Business Objects and other university data systems. 
  • Trend analysis and reporting to customers.
  • Promote a strong internal controls environment. Manage processes to ensure controls are in place.
  • Provide necessary documentation and information during the annual audit process and assist with information gathering and validating data for the annual report.

Required Qualifications*

  • Bachelor’s degree in accounting, finance, business, or closely related field.
  • 2-4 years progressively responsible experience in finance, financial analysis, and budgeting.
  • Extensive knowledge and experience using Excel including advanced spreadsheet functions (pivot tables, charts), PowerPoint and Word.
  • Understanding of fund accounting rules specifically as these apply to public universities.
  • Demonstrated ability to work collaboratively with staff at all levels.
  • Ability to work independently and as part of a team.
  • Aptitude to complete tasks in a timely manner; adaptive to a changing environment.
  • Excellent attention to detail and accuracy.
  • Strong oral and written communication skills.
  • Exceptional customer service experience.
  • Ability to prioritize and manage multiple projects effectively.
  • Capable of handling highly confidential /sensitive information.

Desired Qualifications*

  • 2 years of relevant professional experience in a University or similar setting.
  • Reasonable knowledge of U-M financial policies and procedures.
  • Knowledge of University systems.
  • Excellent communication skills and ability to work well with others

Additional Information

The target hiring range for this position is $49,000 - $58,800.  The actual salary offered may be higher based upon the qualifications and experience of the selected candidate.


Application Deadline

Job openings are posted for a minimum of seven calendar days. This job may be removed from posting boards and filled anytime after the minimum posting period has ended.

U-M EEO/AA Statement

The University of Michigan is an equal opportunity/affirmative action employer.