Business Officers Responsibilities

Liaison Between Central Administration and Organizational Unit

  • Serve as an active communication liaison between Central Administration and members of the unit. Communicate updates, policies, procedures and Business Officers meeting information to constituent group on a timely basis.
  • Participate in process reviews, policy development teams, and other campus improvement efforts initiated by Central Administration.
  • Contribute ideas by providing feedback and bringing issues to the table at Business Officers meetings. This includes sharing ideas for modifications to improve efficiency of operations and preservation of assets.

Compliance with Policies, Regulations and Laws

  • Reasonably ensure that unit’s rules, policies, practices and programs meet federal, state and local legal/regulatory standards and are in conformance with University of Iowa policies.
  • Provide oversight and direction to constituents regarding research support activities including the appropriateness of expenditures, contract or grant requirements, extension requirements and changes in policies and procedures.

Financial Oversight and Budgeting

  • Plan, supervise and coordinate the preparation of annual operating and capital budgets.
  • Monitor budget and coordinate data collection for cost and income analysis.
  • Direct the administrative and financial operations of the unit. Consult with and advise management on current fiscal operations and long-range financial planning (analysis, interpretation and forecasting).
  • Provide fiscal consultation to department heads and administrative staff and evaluate the financial performance of departments and units.
  • Evaluate and respond to fiscal issues and when appropriate consult with Central Administration
  • Reasonably ensure that gift disbursements are made in accordance with donor intent.
  • Monitor the financial status of research projects.

Operational Oversight

  • Lead the implementation of financial and business policies, objectives and operating procedures at the college or divisional level.
  • Establish and review financial systems and internal control processes of the unit to continuously improve operational efficiency and maintain preservation of assets.
  • Serve as a key partner in addressing internal control problems or challenges
  • Provide oversight and leadership in space planning efforts, renovations, maintenances, etc.

Human Resources

  • Actively collaborate with Human Resources professionals on issues of mutual interest such as annual budget and salary management, staffing, and strategic planning.

Professional Development and Growth

  • Develop effective knowledge of key business and financial processes in order to provide ongoing advice and guidance (business transactions, HR transactions, budgeting).
  • Develop and ensure business and financial professional competency and the competency of those who have a direct role in administering business and financial policy and practice within the unit.