Farmers Insurance Financial Analyst in Woodland Hills, California

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Job Summary

This position is within the Technology Business Management (TBM) Office of IT and is concentrated on Finance. Position is responsible for business case developments across wide range of technology services and platform offering. Works with business units to define needs and arranges appropriate resources to build business cases; Oversees preparation of the IT annual budget and coordinates planning process with IT finance and business units, as required; reviews all financial reports for accuracy and completeness, reviews results with IT and Business management; ensures service costs stay within budget / recommends corrective actions, as applicable; ensures timely submission of reports; approves invoice payments for incurred expenses; identifies and implements ways to increase efficiency without sacrificing internal controls; recommends effective internal controls; reviews and analyzes financial implications of new initiatives; acts as liaison with internal and external auditing.

Essential Job Functions

  • Coordinates delivery of work from all suppliers for a small scale or sub-project, facilitating issue resolution, reviews/approves vendor invoices; accountable for development of work orders/cost estimates to/from suppliers.

  • Develops and maintains allocation models for all CTO costs.

  • Supports preparation of financial reports, including research & analysis of Actual and Forecast variances.

  • Assist in allocation of IT costs to the business units for IT services and prepares reports, as required.

  • Prepares variance reports (metrics and expenses) for billing between IT units Validates invoices against agreed upon contracts.

  • Ensures proper authorization and transactional support (contracts, invoices, etc.), adhering to all published schedules.

  • Develops the annual budget(s) for IT, utilizing controlling tools and ensuring adherence to the schedule; obtains full understanding and sign- off by budget owner.

  • Prepares assigned financial reports, including variance analysis and explanations.

  • Prepares IT cost allocations to the business units for IT services.

  • Reviews financial implications of initiatives, ensuring availability of budget; prepares financial analysis reports in support of new initiatives & projects.

  • Identifies ways to automate processes, minimizing manual intervention and increasing efficiency.

  • Oversees preparation of the annual budget(s) for IT, ensuring completeness, accuracy, and timeliness.

  • Coordinates planning process with Group Finance and Business Units, as required.

  • Reviews all financial reports, including Actual/Forecast Analysis, IT Allocations, and Billing Variance, for accuracy & completeness.

  • Reviews results with IT management & business units; ensures service costs stay within budget / recommends corrective actions, as applicable.

  • Prepares and reviews timely allocation of IT costs; reviews results with business units as necessary.

  • Approves invoice payments / ensures proper authorization and transactional support (contracts, invoices, etc.) for incurred expenses.

  • Identifies and implements ways to automate processes, increasing efficiency without sacrificing internal controls; recommends effective internal controls; acts as liaison with internal and external auditing.

  • Manages deliverables of assigned personnel.

    Physical Actions

    Required job duties are essentially sedentary work consisting of occasional walking, standing and lifting and/or carrying 10 lbs. maximum, and seeing.

    Physical Environment

    Required job duties are normally performed in a climate controlled office environment.

    Education Requirements

    Bachelors degree or equivalent or specific relevant experience

    Experience Requirements

    3-5 years of experience in accounting, knowledge of IT and Project Accounting.

    Special Skill Requirement

  • Excellent written and oral communication skills in local language

  • May require occasional traveling regionally or globally

  • Able to give information in English and actively participate in meetings and communicate effectively.

  • Capable of composing reports and technical explanations.

  • Understands routine business conversations and letters and is able to communicate with few errors.

  • Proficient Excel skills required, Working knowledge of MS Access and SAP preferred.

    Farmers is an equal opportunity employer, committed to the strength of a diverse workforce.

Job: *Information Technology

Organization: *Farmers Insurance

Title: Financial Analyst

Location: California-Woodland Hills

Requisition ID: 1800027A