Endowment and Investment Accountant
- Employer
- Clark University
- Location
- Massachusetts, United States
- Salary
- Salary Commensurate with experience
- Date posted
- Jan 11, 2022
View more
- Position Type
- Faculty Positions, Business & Management, Accounting & Finance
- Employment Level
- Administrative
- Employment Type
- Full Time
Job Details
Company Description:
Founded in 1887, Clark was one of the first all-graduate institutions in the United States. Today the University is a highly-ranked, student-centered institution educating approximately 2,350 undergraduate and 1,150 graduate students to be imaginative and contributing citizens of the world and to advance the frontiers of knowledge and understanding through rigorous scholarship and creative effort. This commitment to scholarship and inquiry reflects the University's commitment to "challenge convention and change our world" and to address issues of critical importance to society. It is also reflected by Clark's many national and international distinctions, including recognition for its diversity and inclusion efforts, innovation, community engagement and impact, as a top green campus, and for having a distinguished geography and international development program. Clark has also been included in the groundbreaking Colleges that Change Lives guide since it was first published in 1996.
Clark is located in Worcester, Massachusetts, a dynamic, diverse city "on the rise." The second largest city in New England, Worcester is home to 11 institutions of higher learning and is increasingly recognized for its growing healthcare and biotechnology communities, its thriving cultural scene, and as a vibrant food hub.
Job Description:
The Investment Accountant will be responsible for the University's investment and endowment accounting functions. The Investment Accountant will play a critical role in reviewing and reconciling accounting transactions and cash analysis of the endowment portfolio, maintaining investment and endowment activity in endowment management software, as well as interacting with the University's outsourced chief investment officer.
The primary responsibilities for this position include recording financial transactions and activity associated with investment and endowment transactions, reconciling various general ledger accounts, reviewing K1's related to partnership investments, assisting with preparation of unrelated business income tax federal and state returns, playing a key role in assisting management during year-end close and annual financial audits, analyzing and preparing financial reports, and ensuring compliance with GAAP, UPMIFA and university policies and regulations.
Major Responsibilities:
- Review reporting provided by OCIO to verify and reconcile transactions and monthly performance reporting.
- Review investment manager funding and distributions and verify cash movement.
- Reconcile financial data of the investment portfolio to the general ledger and endowment management software (Fundriver).
- Prepare all investment and endowment related information for quarterly reporting and year-end close, including information for the annual external audit and 990 filing.
- Calculate shares, market values, market value per share, and underwater endowments using endowment management software.
- Maintain investment data such as holdings, liquidity, and investment classifications.
- Prepare journal entries for all investment and endowment related activities.
- Record and reconcile gifts and create new endowments in endowment management software.
- Calculate and prepare the endowment distribution of income to each endowment spending fund.
- Prepare estimates and projections of endowment spending distributions as requested.
- Research and respond to endowment and fund balance inquiries.
- Evaluate and make recommendations to improve processes that support investment and endowment operations and reporting.
- Review partnership K1s for unrelated business income and other required IRS disclosure reporting.
- Assist with preparation of 990T and state unrelated business income tax returns.
Requirements:
- Bachelor's degree in accounting or related field required.
- Minimum of 3 to 5 years investment accounting experience required.
- Strong knowledge and understanding of accounting standards and practices as they relate to investment and endowment management required.
- Thorough understanding of different asset classes, including alternative investments required.
- Knowledge and understanding of investment portfolio management and accounting, and investment performance analytics and concepts required.
- Excellent attention to detail and strong quantitative and analytical skills required.
- Ability to work independently with minimal supervision required.
- Ability to manage tasks with various/multiple deadlines required.
- Proficiency with Microsoft Office Suite, especially Excel required.
- Experience with automated accounting systems; Banner preferred.
- Experience with endowment management software; Fundriver preferred.
- Prior experience working with and contributing to a diverse workplace with the ability to interact effectively with a broad range of constituents on campus.
Clark University currently requires all employees and students to be vaccinated against COVID-19. Exemptions will be made for medical or disability reasons or religious beliefs, and could be made, at the sole discretion of the University, for other well-documented reasons.
Additional Information:
Clark University embraces equal opportunity and affirmative action as core values: we believe that cultivating an environment that embraces and promotes diversity is fundamental to the success of our students, our employees and our community. This commitment applies to every aspect of education, services, and employment policies and practices at Clark. Our commitment to diversity informs our efforts in recruitment, hiring and retention. All positions at Clark share in the responsibility for building a community that values diversity and the uniqueness of others by exhibiting integrity and respect in interacting with all members of the Clark community to create an atmosphere of fairness and belonging. We strongly encourage members from historically underrepresented communities, inclusive of all women, to apply.
Clark University offers a generous benefit package for full and, if applicable, part-time employees that include; paid time off, generous retirement plan, group health and dental insurance, life insurance, and tuition, along with use of many campus amenities. For a complete list of benefits for eligible employees visit here.
Application Instructions:
To be considered for this position, you must submit your credentials online. Create a Clark University Careers Account by clicking on the APPLY NOW button below. You will be able to upload the following documents, which are required for consideration:
- Resume
- Cover letter
See the FAQ for using our online system. Please contact us if you need assistance applying through this website.
Already have a Clark University Careers Account? Login to your account to add documents or update your account.
Review of applications will begin immediately and continue until the position is filled. Salary will be commensurate with skills and experience.
Applicants must be currently authorized to work in the United States for any employer.
A successful background check is required upon acceptance.
Company
Clark University was founded in 1887 as one of the first all-graduate institutions in the country. Today, Clark promotes a rigorous liberal arts curriculum within the context of a research experience that addresses challenges on a global scale.
We’re privately funded, coeducational, and nonsectarian, and we offer bachelor’s, master’s, certificate, and doctoral degree programs in a wide range of disciplines.
Clark University’s 72-acre, tree-filled campus is located in Worcester, Massachusetts, known as “the Heart of New England.” Our location in the center of the state makes us easily accessible from just about any point in New England, including Boston (one hour), Providence (45 minutes), and Portland, Maine (two hours). We’re also an easy 3-1/2-hour drive from New York City.
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