This position provides professional accounting and financial services for complex, diverse, and high volume financial portfolios, including sponsored projects, grants, foundations, state-specials, state allocations, internal and external sales, and indirect cost recovery funds. Leveraging in-depth knowledge and expertise, the position provides senior level consultation to the unit leadership (chairs, heads, and directors), faculty (PIs), and staff. The position is responsible for developing complex budgets, creating customized reporting, analyzing financial trends, preparing financial forecasts, and overseeing and managing financial transactions to inform consultations with leadership regarding strategic and operational financial risks and initiatives. This position assumes lead responsibilities to include training, monitoring, oversight and accountability for assigned college-level business processes or for assigned mentee/s. Incumbent provides unique and informed insights into the analysis and development of accounting practices and procedures to increase capacity, efficiency, effectiveness and competency within the college. The role works with a diverse group of colleagues from varying backgrounds, communities, and identities, and actively supports and advances the University’s commitment to equity, diversity, and inclusion.
Budget and Financial Management (40%)
Academic, Center and/or Administrative Unit Accountant
Consult with business managers and unit administrators from a variety of backgrounds and identities in the development of external/internal sales business plans, billing rates, and contracts.
Provide assistance on budget development for programs, projects and initiatives, including activities related to course fees and fees in lieu of tuition.
Lead assigned unit/s annual budget and fiscal year close processes.
Facilitate conversations and provide guidance to unit leadership regarding financial position and potential funding needs.
Assist in the monitoring and completion of the unit’s merit process.
Develop and enter the budget into EFS by the required deadlines.
Complete required reporting and closing procedures.
Lead the development and maintenance of a chart of accounts that aligns with operational needs and optimizes reporting, while minimizing impact on efficiency.
Chart of accounts should be consistent with University policy and should align with collegiate strategies.
Manage financial transactions for a diverse portfolio of sponsored and non-sponsored accounts, including verifying and using appropriate accounting, completing reconciliations, reviewing and approving/denying transactions, initiating and entering corrections, and recommending courses of action.
Funding sources include state allocations, tuition revenue, foundation scholarships and endowments, internal and external sales, and externally-funded grants.
Ensure accuracy of entered personnel and payroll transactions in payroll accounting and on abstracts, including consistency with appointment documentation and appropriateness of funding source.
Sponsored Project Accountant (30%)
Develop budgets and/or projections for sponsored projects grant proposal awards, renewals and no-cost extensions, working closely with the grant coordinator and Principle Investigators (PIs)/researchers to ensure effective pre and post-award management of sponsored projects.
Provide fiscal management and monitoring of sponsored project activity and balances in compliance with University and regulatory agency policies and procedures.
Consult and develop partnerships with Sponsored Projects Administration (SPA), Sponsored Financial Reporting (SFR), and external sponsors to manage sub-awards, reconcile/resolve concerns, and close out awards.Coordinate and facilitate regularly scheduled meetings with PIs, and unit administrators to monitor financial activity and to address concerns.
Perform Certified Approver (CA) duties for assigned units.
Coordinate effort certification, including managing and monitoring effort certification process, investigating budgetary issues, preparing payroll distribution changes, processing necessary correcting entries, and meeting required deadlines.
Reporting and Analysis (20%):
Prepare complex, comprehensive, customized, routine, and ad hoc reporting from a variety of sources for University, college, and unit leadership, and PIs, as needed.
Consult with stakeholders from a variety of backgrounds, communities, and identities to interpret data and to make recommendations and observations.
Perform budget-to-actual analysis of assigned sponsored and non-sponsored accounts.
Analyze financial data for anomalies, identify gaps in revenue and/or expenses, investigate and recommend solutions.
Develop and present projections and trending to inform and advise stakeholders.
Lead Finance Professional (10%)
College Process Resource
Provide oversight and management of college-wide business processes (i.e., scholarships, internal/external sales, effort certification, payroll accounting, sponsored projects/grants/projects, certified approver, reporting and data analytics).
Assigned to specific college-wide business processes as a subject matter expert; partner with management to ensure coordination and dissemination of new and changing policy and procedure.
Conduct training for: accounting professionals, department administrators, preparers and processors within the college.
Serve as a first-point-of-contact resource for process-related policies and procedures interpretation.Participate in process improvement initiatives that have an overall impact on the college or individual units.
Train and mentor new staff during the onboarding process.Serve on and/or lead department, college-wide, and university-wide committees, implementation projects, task force initiatives, and standing University-level defined roles and content expert groups.
BA/BS plus at least four years of professional work experience or a combination of related education and work experience to equal eight years.
Demonstrated experience in accounting/fund accounting, budget development, and/or other financial management.
Demonstrated ability to collaborate well with people from a variety of backgrounds, communities, and identities.
BA/BS with major(s) related to: accounting, business or public administration, finance, economics, or other related field.
Documented experience working within a higher education research environment; familiarity with University of Minnesota enterprise systems, policies, and procedures.
Experience managing and prioritizing multiple tasks and work both independently and as part of a team.
Experience delivering high level customer service, including proactive communication and ability to troubleshoot and resolve issuesAdvanced computer skills including spreadsheet development and maintenance.
Fiscal experience in fund forecasting/projecting and monitoring, auditing, grants management, and reporting (utilizing multiple data sources).
Experience with the financial management, oversight, and monitoring complex budgets and contracts.Certified approver (UMN internal applicants, passed exam 1 and 2); expectation to pass both within 12 months of employment.
Internal Number: 340831
About University of Minnesota, Twin Cities
The University of Minnesota, founded in the belief that all people are enriched by understanding, is dedicated to the advancement of learning and the search for truth; to the sharing of this knowledge through education for a diverse community; and to the application of this knowledge to benefit the people of the state, the nation, and the world.