State of Connecticut Executive Branch

Lottery Financial Analyst (4816AR)

$41.23-$53.13 Hourly / $3,297.63-$4,250.23 BiWeekly /
$86,068.00-$110,931.00 Yearly

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Connecticut Lottery Corporation this class is accountable for performing complex financial analysis work including the preparation, maintenance and examination of fiscal records and controls.

SUPERVISION RECEIVED

Works under the limited supervision of an administrative employee of higher grade.

SUPERVISION EXERCISED

May lead/supervise paraprofessionals and clerical staff as assigned.

EXAMPLES OF DUTIES

  • Performs financial analysis and prepares periodic schedules;
  • Maintains electronic spreadsheets to track accounts receivable items;
  • Performs complete general ledger accounting according to Generally Accepted Accounting Principles (GAAP) in multiple trial balances including manual entries and downloading from automated systems;
  • Ensures contract compliance with banks, industry affiliates and vendors;
  • Performs inventory reconciliation on internal and external computerized systems;
  • Assists customers with sales analyses;
  • Identifies delinquent customers and initiates retailer collection efforts with Collections Department;
  • Calculates penalties and interest for delinquent retailers;
  • Oversees payment process on retailer incentive programs;
  • Initiates electronic fund transfers (EFT) to advance cash to customers, banks, investment firms and IRS;
  • Monitors cash reserves and recommends amounts for transfer into Connecticut Lottery Corporation investment account;
  • Prepares profit analysis for various product groups;
  • Analyzes Connecticut Lottery Corporation prize liability and unclaimed prizes by game;
  • Monitors business operations and prepares general purpose financial statements;
  • Develops specialized reports and drafts technical summaries;
  • Assists in preparation of operating budgets and financial projections;
  • Designs asset management procedures to add and delete items, calculate depreciation and secure capital items;
  • Prepares variance reports;
  • Provides assistance and reports to internal and external auditors for special reviews;
  • Manages Connecticut Lottery Corporation purchasing and payment operations;
  • Records and distributes expenditures to cost centers according to allocation plan;
  • Oversees long-term annuity payment process, working with insurance companies, attorneys, garnishments and annuity winners;
  • Serves as liaison to IRS for reporting withholdings and reconciling tax discrepancies;
  • Serves as information resource to prize winners, retailers, insurance companies, financial institutions and Office of the State Treasurer;
  • Verifies accuracy of invoices based on contractual performance standards;
  • Ensures that games conform to design specifications;
  • Verifies winning statistics and prize structures;
  • Maintains inventory control in highly secure computer environment;
  • Reviews financial systems and procedures and makes necessary changes to enhance operating effectiveness;
  • Performs related duties as required.

KNOWLEDGE, SKILL AND ABILITY

  • Considerable knowledge of Generally Accepted Accounting Principles (GAAP) in a profit-seeking enterprise including internal accounting controls in computerized and manual systems;
  • Knowledge of
    • a complete general ledger system;
    • budgeting and forecasting and profit analysis;
    • inventory procedures and reconciliations for diverse products;
    • auditing principles and practices;
    • taxes, primarily withholding and IRS reporting for forms W-9 and W-2G;
  • Skills
    • interpersonal skills;
    • oral and written communication skills;
  • Considerable ability
    • to prepare, analyze and evaluate financial statements for individual subsidiaries as well as consolidated parent corporation;
    • to analyze, evaluate and utilize EDP systems for maximizing financial management capability;
  • Ability to
    • prepare narrative and statistical reports;
    • execute electronic bank procedures such as wire transfers;
  • Supervisory ability.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Seven (7) years of experience in accounting, computerized reporting systems and customer service for a GAAP business environment.

MINIMUM QUALIFICATIONS - SPECIAL EXPERIENCE

One (1) year of the General Experience must have been at the professional level.

NOTE: Professional level accounting is interpreted as work performed as a professional accountant, auditor or accounts examiner with responsibility for the exercise of independent analysis and judgment in the application of professional accounting principles and practices.

MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED

College training in accounting or a closely related field may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.

JOB CLASS DESIGNATION

Classified/Non-Competitive

OCCUPATIONAL GROUP

(01)-Accounting/Auditing

BARGAINING UNIT

(16)-ADMIN & RESID (P-5)

EEO

(2)-Professional

SALARY INFORMATION

AR 25

ACKNOWLEDGEMENT

As defined by Sec. 5-196 of the Connecticut General Statutes, a job class is a position or group of positions that share general characteristics and are categorized under a single title for administrative purposes.  As such, a job class is not meant to be all-inclusive of every task and/or responsibility.

CANCELLATION CLAUSE

This replaces the existing specification for the class of Lottery Financial Analyst in Salary Group AR 25 approved effective May 30, 2023. (Reviewed in accordance with Connecticut General Statute § 5-200a.) Final No. 24-238

EFFECTIVE DATE

11/07/2024
CLASS: 4816AR; EST: 10/11/1996; REV: 11/12/2024;