IT Finance Analyst

Primary Purpose of Role

The IT Finance Analyst supports financial planning, budgeting, forecasting, spend management, procurement coordination, and financial reporting for the IT organization, acting as a liaison among IT leadership, Finance, Procurement, Vendor Management, and business stakeholders to ensure accurate planning, effective budget oversight, timely purchasing, and complete spend reporting. The role works closely with Contract Managers, Procurement teams, Finance partners, and technology leaders to ensure IT investments are properly planned, approved, tracked, and reported in alignment with financial objectives and governance requirements.

Key Responsibilities

Financial Planning, Budgeting & Forecasting

Budget Development & Management

• Support the development and administration of annual IT operating and capital budgets.
• Partner with IT leadership to gather budget requirements and develop detailed financial plans.
• Maintain budget models for software, hardware, cloud services, telecommunications, consulting services, and other technology-related expenditures.
• Monitor budget utilization and identify potential risks, savings opportunities, and budget pressures.
• Support long-range financial planning and strategic investment initiatives.

Forecasting & Financial Analysis

• Develop monthly, quarterly, and annual forecasts for IT expenditures.
• Analyze actual spending trends and provide recommendations to improve forecast accuracy.
• Track financial commitments and anticipated expenditures to support financial planning activities.
• Evaluate budget performance and identify drivers impacting forecast variances.
• Provide financial modeling and scenario analysis to support decision-making.

Variance Reporting

• Prepare monthly budget-to-actual variance analyses.
• Develop executive-level summaries and financial commentary explaining significant variances.
• Identify key spending trends, risks, and opportunities.
• Present financial results and recommendations to IT leadership and Finance partners.
• Support management reporting through dashboards, scorecards, and financial presentations.

Procurement & Financial Operations

Purchase Requisition Management

• Create, submit, and track purchase requisitions (PRs) for IT goods and services.
• Coordinate procurement activities with IT stakeholders, Procurement, and Accounts Payable.
• Ensure purchase requests are aligned with approved budgets and financial plans.
• Monitor purchase order status and resolve procurement-related issues.
• Maintain documentation supporting purchasing approvals and financial commitments.

Vendor Spend Coordination

• Partner with IT Contract Managers and Procurement teams to support software, hardware, cloud, and service procurements.
• Track vendor commitments and anticipated expenditures.
• Assist with quote reviews, cost analyses, and funding approvals.
• Support software renewals, maintenance agreements, subscriptions, and technology investments from a financial planning perspective.
• Ensure vendor expenditures are accurately recorded and forecasted.

Financial Reporting & Month-End Close Support

Financial Reporting

• Prepare recurring financial reports, dashboards, and management summaries.
• Track operating expenses, capital expenditures, accruals, and commitments.
• Monitor spending against approved budgets and forecasts.
• Provide visibility into financial performance across IT functions and programs.
• Support ad hoc financial analysis requests from IT and Finance leadership.

Month-End Close Activities

• Assist with month-end and quarter-end financial close processes.
• Review expenditures for accuracy and proper financial coding.
• Coordinate accruals, journal entry support, and financial adjustments as required.
• Reconcile financial records and investigate discrepancies.
• Collaborate with Finance teams to ensure timely and accurate financial reporting.

Cross-Functional Coordination & Stakeholder Management

Business Partnership

• Serve as a trusted financial partner to IT managers and leaders.
• Collaborate with Finance, Procurement, Vendor Management, Accounts Payable, and business stakeholders.
• Support investment planning, project funding, and technology spending decisions.
• Facilitate communication regarding budgets, forecasts, purchasing activities, and financial performance.
• Ensure alignment between technology initiatives and financial objectives.

Governance, Controls & Process Improvement

Financial Governance

• Ensure compliance with organizational financial policies, procurement procedures, and approval requirements.
• Support internal and external audit activities related to IT financial processes.
• Maintain documentation supporting financial transactions and approvals.
• Identify opportunities to improve financial reporting, budgeting, forecasting, and procurement processes.
• Assist in developing standardized financial management practices across the IT organization.

Key Performance Measures

Financial Management

• Accuracy of IT budget forecasts and financial projections.
• Timeliness and accuracy of monthly financial reporting.
• Effective management of IT budgets and spending commitments.
• Reduction in budget variances and forecasting gaps.

Procurement Effectiveness

• Timely creation and processing of purchase requisitions.
• Accuracy of procurement-related financial tracking.
• Successful coordination of IT purchasing activities.
• Compliance with procurement and financial approval processes.

Operational Excellence

• Timely completion of month-end close activities.
• Accuracy of budget-to-actual reporting and variance analysis.
• Continuous improvement of financial reporting and forecasting processes.
• Compliance with financial governance and audit requirements.

Stakeholder Satisfaction

• Responsiveness to IT leadership, Finance, Procurement, and vendor management teams.
• Quality of financial analysis and business support.
• Effectiveness of communication and coordination across stakeholders.

Competencies and Behaviors

• The Highest Standards in Everything We Do
• Takes responsibility to deliver and can be counted on to deliver results in the right way
• Drive a Positive Customer Experience
• Practices active listening to understand stakeholder needs
• Gains the trust of others through active engagement
• Improve the Way the World Works:
• Learn and adapts quickly when facing new problems
• Seeking out the opportunity to work on unfamiliar things and innovate
• Teamwork
• Participates in matrix teams to achieve work outcomes
• Steps up to either lead or participate in matrix teams to achieve work outcomes

Experience & Qualifications

Education

Bachelor's degree in finance, Accounting, Business Administration, Information Technology, Economics, or a related field, or equivalent combination of education and experience.

Required Experience

• 3–5 years of experience in financial analysis, budgeting, forecasting, accounting, procurement operations, or related financial management functions.
• Experience supporting departmental budgets and financial planning activities.
• Experience tracking actual expenditures, commitments, and forecasts.
• Experience creating purchase requisitions and coordinating procurement activities.
• Experience preparing financial reports, dashboards, and variance analyses.
• Experience supporting month-end close processes and financial reconciliations.
• Strong analytical, financial modeling, and problem-solving skills.
• Advanced proficiency in Microsoft Excel and financial reporting tools.
• Strong organizational, communication, and stakeholder management skills.
• Ability to manage multiple priorities and deadlines in a dynamic environment.

Preferred Experience

• Experience supporting Information Technology organizations.
• Experience managing IT operating and capital budgets.
• Knowledge of software licensing, SaaS subscriptions, cloud services, and technology spending models.
• Experience with ERP, procurement, and financial management systems.
• Experience supporting technology procurement and vendor spend management.
• Familiarity with IT financial management (ITFM) practices.
• Experience working in publicly traded or regulated organizations.

Scope Factors

• Support financial management activities for the Information Technology organization.
• Manage budgeting, forecasting, spend tracking, and reporting across multiple IT functions.
• Coordinate technology procurement activities and financial approvals.
• Partner with IT leadership, Finance, Procurement, Vendor Management, and business stakeholders.
• Provide visibility into IT financial performance, commitments, and future spending requirements.
• Contribute to cost optimization, financial governance, and operational efficiency initiatives.

Travel and Physical Demands

• Up to 10% travel as required.
• Ability to participate in meetings with stakeholders across multiple locations and time zones.
• Primarily office or remote work environment with extensive use of computer systems, financial applications, and collaboration tools.