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IN - Tax Analyst - Forecast Specialist

  • 1.  IN - Tax Analyst - Forecast Specialist

    Posted 27 days ago
    Edited by Lauren Cummings 27 days ago
    Date Posted: 
    Requisition ID:  47083
    Location: Indianapolis, IN, US, 46204


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    Work for Indiana

    Grow your career with the State of Indiana! With more than 50 executive branch agencies, the State of Indiana is a diverse workforce offering employees stimulating and challenging projects across a broad scope of career opportunities. As a State of Indiana employee, you impact the well-being of Indiana's communities every day.

     

    About the State Budget Agency (SBA):

    The mission of the Indiana State Budget Agency is to achieve excellence in fiscal decision making and fiscal results on behalf of the Governor and in support of the General Assembly. The State Budget Agency facilitates the processes of revenue forecasting, budget development, and budget implementation. The Budget Agency evaluates and communicates the fiscal and policy impacts of legislative proposals with the objective of assuring best information available to decision makers.

     

    Salary: 

    The salary for this position may be commensurate with education and experience. 

    About the Job:

    The purpose of the Tax Analyst position is to apply various advanced technical skills (including statistical, economic, legislative and administrative knowledge) to forecast and analyze revenues for state and local government entities; develop and maintain database, published reports, written research and division technical documents; provide fiscal analysis support for potential legislative changes proposed during annual sessions of the general assembly; prepare revenue reporting on a daily, monthly and annual basis as well as statutory reports and other management reports; help analyze and execute various administrative responsibilities around local income tax revenue forecast, distributions and reconciliation; and perform other assigned duties as directed by management. In addition to helping on the various matters that the team needs, the Tax Analyst will be assigned to a specific subject matter expertise based upon which they will be mentored and offered a chance to become the State's lead expert. Various expertise area include Sales and Use Taxes, Individual Income Taxes, Corporate Taxes, Gaming Taxes and more. Successfully executing the responsibilities of this position requires excellent quantitative skills combined with a keen interest in proactive problem solving and effective communication skills. A successful analyst will be an expert of Indiana's $17+ billion system of tax and revenue from the legislative analysis and forecasting to revenue management, reporting, and administration. 

    A Day in the Life:

    The essential functions of this role are as follows:

    • Evaluate existing regression equations and produce new equations as required for use in the generation of revenue forecasts for consideration by the State's Revenue Forecast Technical Committee (RFTC) – the committee responsible for producing the revenue forecast used by the Budget Committee.
    • Assist in the preparation of documents for RFTC member review in advance of the forecast meetings (including graphs, write ups, and more).
    • Develop and maintain the division's forecast abilities using the prescribed statistical software (R, Excel etc.) and serve as a technical leader in the automation and operation of various forecasting, reporting and LIT 4 processes and execution of technical tasks related to presentations, postings of reports, sending of memos and more. 
    • Estimate the fiscal impacts on tax revenues of legislative and administrative changes at the state, local, and federal levels. 
    • Develop a familiarity with sources of state tax collections, including Sales, Individual Income, Corporate, Gaming, and other miscellaneous collections deposited into the General Fund.
    • Track bills dealing with state tax issues throughout the legislative process and determine the fiscal and policy impact of new legislation.
    • Keep precise notes of state tax legislation as it passes through the legislative process.
    • Actively participate in study committees and agency meetings in which state tax issues are being reviewed and considered.  
    • Troubleshoot and conduct self-directed research on issues related to state taxes as directed by the senior management.
    • Prepare statutory reports and various management reports as assigned by senior management.
    • Prepare and cross check daily and monthly general fund revenue reports.
    • Analyze and execute various administrative responsibilities around local income tax revenue forecast, distributions and reconciliation;
    • Update division process binders and prepare documents to be included in the division's beige book as directed by management.


    The job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time.

    What We're Looking For:
    • Education - Masters degree in economics or equivalent mathematics/statistics, or business administration.  
    • Experience – Two to three years of relevant work experience preferred.  An advanced degree in an appropriate field could be a substitute for some work experience.  Also, additional relevant work experience could be substituted for an advanced degree.
    • Demonstrated experience in applied research is preferred.
    • Demonstrated skills in forecasting software. "R", SAS or Python will be considered.
    • Mastery of Microsoft Office products especially Excel and Access.
    • Demonstrated skills in database management and database creation.
    • Attention to detail and strong emphasis on cross checking and accuracy.
    • Demonstrated advanced written and verbal communication skills.
    What You'll Need for Success:
    • Ability to review and interpret tax law and/or legal contracts.
    • Ability to effectively communicate complex issues to persons within the executive branch, the legislative branch, and the public.
    • Ability to establish and maintain effective working relationships with a diverse group of individuals.
    • Ability to manage multiple priorities concurrently within an environment where policies and guidelines may be unclear.
    • Ability to be a proactive problem solver, and become the subject matter expert in state tax issues.
    • Ability to identify and undertake self-directed projects.
    • Ability to conceptualize, plan, and execute methodologies to model changes in state and local tax revenues resulting from changes in the economic and legal environments.
    • Ability to prepare and deliver presentations on complex issues in understandable terms.
    • Ability to use or quickly learn computer software for the storage and manipulation of numerical information.
    Supervisory Responsibilities/Direct Reports:
    This role does not provide direct supervision to direct reports.

     

    Benefits of Employment with the State of Indiana:

    The State of Indiana offers a comprehensive benefit package for full-time employees which includes:

    • Four (4) medical plan options (including RX coverage) and vision/dental coverages
    • Wellness program (offers eligibility into a discounted medical plan)
    • Health savings account (includes bi-weekly state contribution)
    • Deferred compensation account (similar to 401k plan) with employer match
    • Two (2) fully-funded pension plan options
    • Group life insurance
    • Employee assistance program that allows for covered behavioral health visits
    • Paid vacation, personal and sick time off
    • Competitive leave policies covering a variety of employee needs
    • 12 company paid holidays, 14 on election years
    • Qualified employer for the Public Service Loan Forgiveness Program
    • New Parent Leave

    Equal Employment Opportunity:

    The State of Indiana is an Equal Opportunity Employer