Financial Analyst

Posting number: 2795-26-ACTG-FA-A-059

Department: Lottery

Job classification: Financial Analyst 9-P11

Posting type: Open

Categories: Accounting and Finance, Professional

Summary

The Michigan State Lottery is looking for a dependable, honest, motivated, and hardworking individual with a positive attitude and strong ethical standards to join our team!

The Michigan State Lottery was established under the authority of Public Act 239 of 1972 to generate funds to support Michigan’s public-school system and generates revenue through the sale of Lottery tickets at retail locations and over the internet. Profits from lottery revenue are used to supplement state education programs.

This position currently offers an initial $1,250 SigningBonus and an additional $1,250 Retention Bonus upon completion of one year of satisfactory service. The bonus must be paid back if employee leaves the department prior to completing one year in the position. This benefit is limited to new State of Michigan employees; current employees are ineligible.

This position works 100% at the assigned work location with a potential 2-day remote option after successfully completing the probationary period.

The experienced-level Financial Analyst will review, analyze and balance daily and weekly reconciliation of the Lottery Enterprise Series Gaming System, which is pertinent to the overall integrity of the Lottery. This includes reconciling and authorizing the weekly sales and commission transactions associated with the gaming system, analysis of retailers’ financial adjustments and final billings. This position is responsible for preparing reconciliations for Instant, Pull-tab, and Insta-tab game closures before ticket inventory is authorized to be destroyed, review/approve credit reviews for licensing new retailers and calculate and process Retailer Online, Printed Product and Cashless Incentives. This position balances gaming system, and ICS reports the regional check writer for prizes paid to winners through our ES gaming system across six regional offices including prizes paid at Lottery Central. The position will balance our prize offsets; federal and state taxes withheld and prepare daily entries in to record these transactions in the general ledger and prepare for review. This position will assist with processes related to the Lottery Retailer Website, Retailer Chain Reports, the Airport Authority Adjustment and Reporting Process. This position reviews and submits monthly annuity installment payments to be paid by ACH and Treasury warrant. This position reconciles all debt checks performed in the Bridge application and matches all prizes paid daily to ensure the confidentiality of sensitive information is not being breached. Additionally, this position is responsible for issuing prize payments out of ES & iLottery gaming systems and performs backup duties as assigned.

Experienced-level Position Description

The advanced-level Financial Analyst serves as the recognized resource providing ongoing oversight, monitoring, analysis, and evaluation of the financial subset of the large complex gaming system reconciliations. This position serves as the liaison and recognized resource for the maintenance of complex inventory and financial reporting generated by the Lottery retailer gaming system and web-based portal application, including oversight of Lottery chain accounts, Airport Authority program, and cashless program. This position works closely with Sales division management to oversee financial aspects of the Lottery retailer sales and incentive related programs. In addition, this position is responsible for review and approval of closed instant game analysis, processing of monthly annuity installments, as well as backup duties as assigned. An in-depth knowledge of Lottery processes and procedures for these specialized areas along with complete understanding and knowledge of the complex retailer-based gaming system is required.

Position Description

View the job specification at: https://www.michigan.gov/mdcs/-/media/Project/Websites/mdcs/JOBSPECS/F/FinancialAnalyst.pdf

The State of Michigan has been recognized as a leading U.S. employer by new graduates from 2021-2023 and a best large U.S. and state employer. Recognized on the international stage for fostering positive employee engagement, the State of Michigan is a past recipient of a North America Government Agency Employees Engagement Award.

The Michigan State Lottery is proud to be a Michigan Veteran's Affairs Agency Gold Level Veteran Friendly Employer.

Examples of duties

Education

Possession of a bachelor's degree in any major with at least 12 semester (18 term) credits in one or acombination of the following: accounting, finance, or economics.

Experience

Financial Analyst 9
No specific type or amount is required.

Financial Analyst 10
One year of professional experience providing a systematic review, analysis, interpretation, and/or evaluation of budgets, mortgages, loans, or other financial data, equivalent to a Financial Analyst 9.

Financial Analyst P11
Two years of professional experience providing a systematic review, analysis, interpretation, and/or evaluation of budgets, mortgages, loans, or other financial data, equivalent to a Financial Analyst, including one year equivalent to a Financial Analyst 10.

Qualifications

College credits may be substituted on a proportional basis (one year of college education may substitute for one quarter of the required experience) for up to one half of the required experience.

Supplemental information

To be considered for this position, you must submit to the following initial background check requirement(s). In accordance with Civil Service Regulation 2.07, you may be sanctioned from applying to positions with the State of Michigan, permanently or up to (3) three years, should you fail to pass/submit to the pre-employment drug test. Under Civil Service Regulation 3.06, you may be sanctioned from applying to positions with the State of Michigan, if you make any false statements or omissions of a material fact during the selection process. Civil Service Rule 2-7 requires that all persons who are not currently state employees submit to and pass a pre-employment drug test. This urine sample test must be administered within 24 hours, or your offer may be rescinded. An applicant must remain at the testing site until the testing process is completed and permitted up to 3 hours to provide a sufficient specimen. It is considered a refusal to test if an applicant fails to provide a sufficient amount of urine for a drug test within the allowed time. Positions within the Bureau of State Lottery will require a criminal history background check.