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Associate Controller

Colby College
Maine, United States
Salary Not Specified
Posted date
Jul 26, 2021

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Position Type
Faculty Positions, Business & Management, Accounting & Finance, Administrative, Business & Administrative Affairs, Financial Affairs, Grants & Contracts, Chief Business Officers & Vice Presidents, Student Affairs, Financial Aid
Employment Type
Full Time
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Job Description
Office of Financial Services
Pay Rate Type:
Employee Type:
Job Summary:Office of Financial Services
Full-Time, Exempt, Salaried, Administrative Staff Appointment

The associate controller reports to the College’s principal accounting officer and will assist in providing College-wide strategic oversight of financial accounting, operations, external reporting, compliance, and service provider management. This position is responsible general accounting operations, financial reporting, cash management and treasury functions, investment and endowment accounting and reporting, taxation and other compliance areas and financial system operations.

Reporting to the assistant vice president for finance and controller (AVP), the associate controller is a key member of the College’s financial leadership team and works closely with other administrators, faculty, staff, and students to ensure a strong and efficient financial control environment that supports the educational mission of the College.

The associate controller is one of four director level employees in the Office of Financial Services, together they are responsible for financial, endowment, and grant accounting; internal and external financial reporting; student financial services/financial aid; policy development; tax management and compliance; purchasing; accounts payable; payroll; accounts receivable; trust accounting; and ColbyCard financial services. The associate controller will assist the AVP to coordinate and manage the annual audit process and draft the audited financial statements. This position will lead the College’s tax preparation activities, along with other key staff, for 941s, W-2s, 1099s, 1042s, 990, 990-T, net investment excise tax and other applicable taxes and returns, oversee the banking and treasury functions, collaborate with financial services and investment office to account for the endowment, annuities and charitable trusts, and consolidate the LLC accounting activity within the College’s accounting system. The successful candidate will possess deep accounting and tax expertise, broad managerial experience, the highest ethical standards, and a collegial style.

We encourage inquiries from candidates who will contribute to the diversity of our College, including its cultural and ethnic diversity.


  • Develop, refine, and maintain appropriate financial and internal control systems that ensure protection of College resources and compliance with local, state, and federal laws and regulations as well as generally accepted accounting principles (GAAP), FASB standards, federal grant regulations, College policies, and best accounting practices
  • Ensure the accuracy and timeliness of all financial reporting; prepare and fairly present the College’s annual financial statements; meet other external reporting requirements
  • Research accounting methods, practices and standards established by the Financial Accounting Standards Board (FASB) to ensure the College’s full compliance with GAAP
  • Serve as the primary liaison between the College and external auditors; coordinate all audits and assist AVP in coordinating the annual financial statement audit
  • Oversee and manage month and year-end financial reporting close processes
  • Direct and manage banking relationships and the cash management function to ensure sufficient liquidity is available to meet operating needs
  • Responsible for monthly cash position projections and analysis
  • Manage all aspects of the general ledger including chart of account maintenance, associated reporting structures and integrity of financial data and systems; assure that any accounting issues are promptly identified and resolved
  • Responsible for monthly, quarterly and yearly reconciliations, account analyses, and preparation of financial reports
  • Enhance, automate, and reorganize existing business processes and procedures to improve efficiencies and eliminate redundancies
  • Monitor financial and internal controls including, but not limited to, the timely performance, documentation, and review of account reconciliations
  • Ensure all accounting policies and operational procedures follow regulatory requirements and best practices
  • Assist AVP to coordinate and maintain robust compliance and risk management programs campus wide, collaborating with other departments and programs
  • Responsible for accurate and timely preparation and filing of annual federal returns and reporting including Form’s 990, 990-T and related State returns, payroll taxes, multiple State Sales and Use Tax collection and reporting, periodic State compliance reporting and other informational surveys and disclosure reports (IPEDS, US Census, US Department of Education, NACUBO Endowment Study, etc.)
  • Collaborate with assistant general counsel and director of risk management to review contracts for independent contractor status and sign contracts under $5,000 on behalf of the College
  • Coordinate data collection, treaty applicability, tax withholding and reporting for nonresident alien students, staff, and vendors with various departments
  • Maintain a documented system of accounting policies and procedures
  • Identify strategic opportunities to improve processes within the department and throughout the College, including involvement in establishing practices for new initiatives within the College
  • Represent the department on cross functional initiatives through working groups, committees, and team collaboration
  • Perform additional duties as assigned; duties, responsibilities, and activities may change at any time with or without notice


  • Bachelor’s degree or the equivalent in education and experience; MBA or other advanced degree in accounting,finance,business,or a related field is preferred
  • CPA certification required
  • Five to seven years of experience as an accounting professional, including leadership experience; strong preference for experience in higher education or a public accounting firm with a higher education/not-for-profit client base
  • Strong understanding of tax codes and laws
  • Demonstrated experience in performing functions and in the oversight of general ledger, fund accounting, accounts receivable,accounts payable,purchasing,payroll,grants,plant/capital accounting and tax preparation
  • Must possess advanced knowledge and technical competencies in accounting, MSExcel, financial concepts, financial accounting standards, regulations, and best practices
  • Ability to interpret and communicate changing regulations and laws resulting in timely implementation and compliance
  • Experience with accounting information and ERP systems required; Workday experience preferred
  • Ability to acclimate, adjust, and respond to a continuous and changing work environment while meeting competing demands and deadlines
  • Ability to work collaboratively and to effectively lead staff; committed to the value of diversity in the workplace
  • Strong organization, analytic, and interpersonal skills; ability to effectively communicate orally, in writing, and through presentations complex financial information to constituencies with varied levels of financial expertise
  • Demonstrated customer service skills, ability to work in a team-oriented environment
  • High level of professionalism, initiative, the ability to manage numerous deadlines simultaneously with an appropriate sense of urgency
  • Strong problem solving and creative thinking skills; sound judgment and decision making skills based on accurate and timely analyses
  • Demonstrated reputation for integrity and ethical standards; ability to handle confidential information with utmost discretion


The associate controller is supervised by the assistant vice president for finance and controller. This position has significant interactions with administrators, faculty, staff, and other outside constituencies.


General open office and campus environment. Position involves sitting, although frequent movement is necessary. Computer usage involving repetitive hand/wrist motion is also necessary. Ability to move around campus is required as is some travel. Valid driver’s license required and must meet the College’s Fleet Safety Policy requirements.


Interested candidates should apply electronically by clicking the "Apply" button on the Colby Careers website. Please submit a letter of interest including salary requirements, resume, and the contact information of three professional references.

Materials should be addressed to:

Associate Controller – Search Committee

Office of Human Resources

Colby College

5500 Mayflower Hill

Waterville, ME 04901-8855

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