Assistant Controller
- Employer
- William & Mary
- Location
- Virginia, United States
- Salary
- $90,000.00 - $125,000.00
- Date posted
- Jan 28, 2021
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- Position Type
- Administrative, Business & Administrative Affairs, Financial Affairs
- Employment Level
- Administrative
- Employment Type
- Full Time
POSITION SUMMARY
Reporting to the Controller, the Assistant Controller provides technical expertise in and management of the accounting and financial reporting functions of William & Mary Foundation. The position:
- is responsible for designing, implementing and providing oversight of accounting processes and procedures and internal controls;
- collaborates with University IT and external vendors on system development/implementation activities affecting William & Mary Foundation and related entities; and
- coordinates the annual audit with the external auditors.
Additionally, the position interfaces and collaborates broadly with the University community on a wide-range of matters. The Assistant Controller supervises two staff.
CORE DUTIES AND RESPONSIBILITIES
Accounting and Financial Operations:
- Direct accounting operations of William & Mary Foundation and certain subsidiaries. This includes:
- Review and approval of journal entries and deposit transmittals
- Review and approval of bank, investment and other reconciliations
- Oversight of quarterly endowment unitization and spending allocation processes to ensure they are executed accurately
- Oversight of accounting and reporting for external trusts, charitable gift annuities, and life insurance
- Supervision and review of design and preparation of financial reports
- Direct and provide oversight of the accounts payable function for William & Mary Foundation and certain subsidiary entities:
- Responsible for accounting for funds held in trust by others, notes receivable, payroll/leave, deferred compensation and funds held for others
- Advise Advancement staff on matters relating to gift acceptance and processing, policy and procedures, inter-company transactions, and state registrations to solicit.
- Offer technical direction and clarification to University executive management, Deans and Directors, Department Heads, and Administrators of University-related organizations with respect to accounting treatment, policies, and compliance with IRS guidelines, laws and regulations as it relates to William & Mary Foundation funds.
- Collaborates in the design, planning, implementation, and review of any new accounting software or generated reports, either installed by the University or from external vendors. Assists with systems updates, as needed.
- Design, monitor, evaluate, and improve internal controls over accounting and financial reporting to minimize risk of fraud and error.
Financial Reporting:
- Supervise preparation and issuance of annual consolidated financial statements for William & Mary Foundation, which has a consolidated asset base in excess of $800 million in accordance with U.S. generally accepted accounting principles (GAAP).
- Preparation of year-end component unit schedules/reports required by the University for state reporting purposes.
- Coordinate annual audit for William & Mary Foundation with external auditors and other internal departments.
- Responsible for preparation or review of various reports for subsidiary entities and donor funds.
- Closely follows and remains proficiently informed of changes in accounting and auditing reporting requirements; interprets guidance and coordinates implementation as needed for timely compliance.
EDUCATION/CERTIFICATION
- Bachelor’s degree in accounting, finance or related field
- Certified Public Accountant (CPA) license.
OTHER REQUIRED QUALIFICATIONS AND COMPENTENCIES
- Substantive and progressively responsible experience and expertise in an accounting or finance role.
- Substantive experience with preparation of annual financial statements and coordination of annual audits.
- Demonstrated management level experience, directing daily operations and managing personnel.
- Advanced knowledge of U.S. generally accepted accounting principles and auditing standards as they relate to not-for-profit organizations and governmental entities with diversified, complex investment portfolios.
- In-depth knowledge of state and federal laws, IRS code, UPMIFA, and other regulations pertaining to not-for-profit organizations.
- Advanced analytical and problem solving skills with the proven ability to independently interpret and apply principles guiding accounting and financial reporting.
- Strong proficiency with a variety of software applications, particularly MS Office with advance competency with Excel and Word, automated accounting, enterprise and report writing systems.
- Ability to formulate and implement financial policies, practices, procedures, and internal controls.
- Strong interpersonal, oral and written communication skills with the demonstrated ability to work as a strong collaborative team player, effectively communicating and professionally interacting with internal and external constituencies, exercising diplomacy, discretion and sound judgment in all interactions.
- Strong organization skills with the ability to work independently and successfully managing multiple projects with competing priorities while meeting tight deadlines.
- Strong work ethic with dedicated commitment to performing at a high level contributing to a collegial team-oriented workplace.
PREFERRED QUALIFICATIONS
- An advanced degree is highly preferred (particularly a Master’s in accounting, taxation or finance).
- Significant financial accounting and reporting experience working for a not-for-profit enterprise that has a large and complex diversified portfolio.
- Experience with a non-profit higher education institution or a university-affiliated foundation.
- Prior experience working with Banner (Finance) and Qlik reporting software.
EEO STATEMENT
William & Mary values diversity and invites applications from underrepresented groups who will enrich the research, teaching and service missions of the university. The university is an Equal Opportunity/Affirmative Action employer and encourages applications from women, minorities, protected veterans, and individuals with disabilities.
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