Finance is one of the four main service areas of the PEAK Initiative.
The Finance Operations Center was established as part of PEAK to create a more efficient, equitable, and consistent way to deliver and receive services at the University. The center will provide individual contributors the benefits of working on a team surrounded by other specialized Finance professionals and the structure of clearly defined levels and pathways for advancement within the center.
Positions in the Finance Operations Center for existing Finance staff will be created that focus on:
- Accounts receivable
- Accounts payable
Opportunities will be created through clearly defined roles, standardized job responsibilities (across similar job titles), and classifications.
New Director of the Finance Operations Center
Meet the new Director of the Finance Operations Center, Rahfat Hussain
Currently, the Finance Operations Director is in the process of standing up the department and working with/through the PEAK Initiative to fully staff the operation, create service request processes, and more. Please reach out Rahfat Hussain through email with any feedback or questions you may have.
Finance Resources are listed below.
The Finance Operations Center
The Finance Operations Center will include purchasing, accounts payable, accounts receivable/billing, and general accounting work. Job descriptions for opportunities in the Finance Operations Center will be shared with Phase 1 units as part of the Expression of Interest.
A service request process is being designed, along with instructions to assist people with getting the work completed. Details will be available for units in Phase 1 as we get closer to the opening date of the Finance Operations Center for campus/colleges/units in Phase 1. Phase 1 units--the people who work in the departments supported by the Center--will receive detailed instructions on how to connect with the center.
Work within the Operations Center
The Finance Operations Center will include purchasing, accounts payable, accounts receivable/billing, and general accounting work. Job descriptions for opportunities in the Finance Operations Center will be shared with Phase 1 campus/colleges/units as part of the Expression of Interest process.
How will individual roles change?
It depends on the individual and which role they will be moving into. Let’s take Ramon for example. Right now, Ramon performs a variety of finance tasks. They perform journal entries, enter purchasing requisitions, monitor accounts receivable activity, and miscellaneous finance tasks. They recently helped a faculty member complete some travel expense reimbursements.
When Ramon joins the Finance Operations Center, they will be able to focus on an area of specialty, receive the latest updates on process right away, have the support of peers working on similar things, and there will be backup to ensure services continue to be provided when Ramon is out of the office.
Not all individuals experience the same challenges as Ramon, but there is variation in how campuses/ colleges/units are resourced and there is potential for more consistency in Finance work.
How is the Work Changing?
In Review, Finance Work Today
- Lack of experience with processes to complete certain tasks, leading to delays
- Different levels of support depending on campus/college/unit
- Limited opportunity to develop expertise in a subject area
- Compliance risks
In Review, Finance Work Tomorrow
- Clear roles and responsibilities
- Streamlined processes to complete tasks
- Consistent, equitable support for departments
- Consistent backup for Finance Operations Center team members when out of office
- Opportunity to train and develop expertise in a certain subject area
- Less compliance risk
Finance questions have been archived as of June 30, 2023.
Implementation Phase 1 - Milestone 3 Town Hall
- View the Finance Milestone 3 Town Hall presentation deck
- Watch the Finance Town Hall recording (for University of Minnesota staff systemwide - login required)
Implementation Phase 1 - Milestone 2 Informational Meeting
- View the Finance Milestone 2 presentation deck
- Watch the Finance meeting recording (for University of Minnesota staff systemwide - login required)
If you have Finance specific questions, please use the Resource Responsibility Center contact list to connect directly with people.
More information is also available about the Finance Operations Center on the Senior Vice President for Finance and Operations website. You may also email the center directly with additional questions.
Sponsor & Transition Teams
View the PEAK Initiative Sponsors.
Find your representative on the list of Phase 1 transition team members from Finance, Human Resources (HR), Information Technology (IT), and Marketing and Communications (Marcom).
If you have additional comments, inquiries or feedback, use the PEAK contact form to connect with the PEAK office.