Business and Financial Manager (Remote)

Business and Financial Manager (Remote)

Office Medicaid Innovation

Sponsorship for Work authorization is not available for this position

Job Summary

In collaboration with the Director of Finance and Data Analytics, the Business & Financial Manager (Accounting Associate) provides professional-level accounting, business, and financial leadership for the Office of Medicaid Innovation. This position applies advanced accounting expertise, independent judgment, and strategic financial management to oversee and administer OMI's business and financial operations. The role is responsible for the integrity of invoicing, payment remittance, reconciliation, budgeting, and financial reporting functions, and for ensuring compliance with University, state, and federal requirements. The Business & Financial Manager serves as the operational lead for the OMI Business Office, providing supervision, and technical guidance to business office staff, and advising OMI leadership on complex accounting, fiscal, and financial management matters. The position carries high-impact responsibilities that affect multiple teams, funding streams, and external partners

Duties & Responsibilities

• Fiscal and Accounting Operations
  1. Provide administrative direction and professional-level oversight of OMI's accounting and financial operations, ensuring accuracy, transparency, and compliance with generally accepted accounting principles, University policies, and applicable state and federal regulations.
  2. Develop, implement, and maintain comprehensive business and financial policies, procedures, and documented workflows for OMI and internal fiscal controls.
  3. Establish and maintain appropriate access to University financial systems (e.g., Banner and related tools) to support OMI business transactions and financial operations.
  4. Oversee accounts payable functions, including the receipt, review, validation, and approval of invoices from vendors, subcontractors, and University partners.
  5. Oversee accounts receivable functions, including issuing funding requests, monitoring incoming payments, and reconciling revenues against expenditures.
  6. Perform and oversee complex reconciliations of financial transactions, funding sources, and contractual obligations; identify discrepancies, recommend corrective actions, and implement resolutions.
  7. Manage cash flow, payment timing, and short- and long-term financial forecasting to support fiscal stability and operational planning.
  8. Ensure all financial records are audit-ready, complete, and maintained in accordance with retention and compliance requirements.
  9. Ensure appropriate division of responsibilities for internal control.
• Business Office Leadership and Supervision
  1. Provide full line supervision of Business Office staff, including planning and assigning work, setting priorities, coaching employees, and evaluating performance.
  2. Serve as a technical resource and subject matter expert to Business Office staff on accounting practices, invoicing, reconciliation, and compliance.
  3. Identify training needs and support professional development of Business Office staff to ensure consistent, high-quality financial operations.
  4. Serve as OMI's subject matter expert on University financial systems and business processes; train and support internal stakeholders as needed.
  5. Oversee financial components of contract management, including tracking deliverables, expenditures, invoicing schedules, and funding compliance.
• Budgeting, Reporting and Strategic Support
  1. Prepare and present financial reports and analyses for OMI leadership, including expenditure trends, account balances, and funding projections.
  2. Assist in the development and monitoring of unit budgets and provide recommendations to optimize resource allocation and financial efficiency.
  3. Coordinate with internal and external stakeholders to ensure adherence to financial deadlines, reporting requirements, and contractual obligations.
• Other Duties
  1. Perform other related duties as assigned and appropriate for a Business & Financial Manager (Accounting Associate).

Minimum Qualifications

Bachelor's degree with a major in Accountancy or a related field AND five (5) years of professional level accounting experience. Demonstrated experience in financial operations including invoicing, payment remittance, and reconciliation. Experience supervising or leading professional and/or support staff.
OR
Possession of current registration as a Certified Public Accountant (CPA), Certified Management Accountant, or a valid license to practice Public Accounting (LPA).
OR
Master’s degree in accountancy or a related field.
Additional education, training, and/or work experience in an area of specialization inherent to the position may be required:

Knowledge, Skills and Abilities

• Knowledge with governmental fund accounting, grants administration, and/or public sector financial management.
• Knowledge of the Illinois Medicaid delivery system and HFS Managed Care Organizations.
• Advanced knowledge of accounting principles, practices, and standards, and the ability to apply accounting theory to complex financial and operational issues.
• Ability to exercise independent judgment, discretion, and strategic thinking in financial decision-making.
• Ability to interpret, analyze, and present financial data clearly to both technical and non-technical audiences.
• Strong analytical and problem-solving skills, including the ability to resolve complex accounting and reconciliation issues.
• Ability to develop, implement, and enforce financial policies, procedures, and internal controls.
• Leadership and supervisory skills, including the ability to direct, evaluate, and support staff.
• Strong written and verbal communication skills for reporting, documentation, and stakeholder engagement.
• Proficiency with Microsoft Office applications and working knowledge of financial systems and accounting software.
• Ability to manage multiple priorities, meet deadlines, and maintain a high level of accuracy and attention to detail.
• Ability to work collaboratively with diverse stakeholders and exercise tact when addressing sensitive or complex financial matters.

Appointment Information

This is a 100% full-time Civil Service 5000 - Accounting Associate position, appointed on a 12-month basis. The expected start date is as soon as possible. The budgeted salary range for the position is $90,000 to $110,000. Salary is competitive and commensurate with qualifications and experience, while also considering internal equity.

System Office jobs such as this one are not eligible for the Referral Program.

For more information on Civil Service classifications, please visit the SUCSS web site at https://www.sucss.illinois.gov/pages/classspec/default.aspx.

Application Procedures & Deadline Information

Applications must be received by 6:00 pm (Central Time) on March 26, 2026. Apply for this position using the Apply Now button at the top or bottom of this posting. In order to be considered as a transfer candidate, you must apply for this position. Applications not submitted through https://jobs.illinois.edu will not be considered. If required by the position, transcripts or other documentation of credentials are to be provided no later than the first day of employment. For further information about this specific position, please contact Amanda Bubonic at abubo2@uillinois.edu. For questions regarding the application process, please contact 217-333-2137.

At the University of Illinois Urbana-Champaign — the state’s flagship public university and one of the world’s leading research institutions — every staff member helps shape what’s next. Founded in 1867, Illinois is home to a vibrant community of 59,000 students from all 50 states and 129 countries, supported by 15 colleges and instructional units, more than 20 research institutes, and one of the most comprehensive student service ecosystems in the nation. Whether you’re empowering first-generation students, fueling breakthrough innovation, or strengthening communities across Illinois and beyond, your work here has a far-reaching and deeply meaningful impact. The university offers a highly competitive benefits package designed to support your well-being, growth, and financial security. Join a top 10 public university that has launched over 330 startups and continues to redefine excellence — where the Illinois Value Proposition ensures that your contributions are recognized, your potential is nurtured, and your career can thrive.

Champaign-Urbana

Artificial Intelligence (AI) tools may be used in some portions of the candidate review process for this position; however, all employment decisions will be made by a person.

This position is intended to be eligible for benefits. This includes Health, Dental, Vision, Life Insurance, a Retirement Plan, Paid time Off, and Tuition waivers for employees and dependents.

The University of Illinois System is an equal opportunity employer, including but not limited to disability and/or veteran status, and complies with all applicable state and federal employment mandates. Please visit Required Employment Notices and Posters to view our non-discrimination statement and find additional information about required background checks, sexual harassment/misconduct disclosures, and employment eligibility review through E-Verify.

Applicants with disabilities are encouraged to apply and may request a reasonable accommodation under the Americans with Disabilities Act (2008) to complete the application and/or interview process. Accommodations may also be requested on the basis of pregnancy, childbirth, and related conditions, or religion. Requests may be submitted through the reasonable accommodation portal, or by contacting the Office for Access & Equity at 217-333-0885, option #1, or accessibility@illinois.edu.

Requisition ID: 1035199
Job Category: Professional and Administrative
Apply at: https://jobs.illinois.edu