The Office of the Vice President for Research (OVPR) and Technology Commercialization endorses a "work with flexibility" approach that offers a welcoming and flexible work environment where everyone is inspired to do their best. Work location options for Tech Comm include working partially remote or entirely in the office and are based on the work of the position.
This position has been designated as Profile 2 and the employee is expected to work on-site more than 50% of the time (approximately 3 days per week). Your office will be located in the McNamara Alumni Center. Tech Comm management retains the right to modify flexible work arrangement agreements on a temporary or permanent basis for any reason at any time. More details of the "work with flexibility" arrangement will be provided during the interview and job offer.
The Tech Comm Royalty Accountant is responsible for performing complex accounting transactions related to the University's Technology Commercialization mission. To perform these functions, the role ensures data is accurately entered/managed in both the IP management database (Sophia) and into the UMN financial system (PeopleSoft).
Agreement Financial Term Setup and Maintenance - 25% • Review Intellectual Property related contracts for financial terms related to royalty obligations and scheduled payments. • Enter financial terms related to royalty obligations and scheduled payments for newly executed agreements.
Accounts Receivable and Billing - 25% • Record revenue and receivables including royalties, equity, and other miscellaneous revenue. • Create bills for Royalty Payment Invoices, Scheduled Payment Invoices, Patent Reimbursement Invoices. • Create monthly Royalty invoices and reports for licensees with collections follow-up for non-compliance.
Royalty Distribution Accounting - 25% • Responsible for all facets of the Intellectual Property (IP) Royalty Distributions process which includes distribution set-up, administrative fee application, voucher preparation, and journal entries. • Work with UMN faculty on royalty distribution percentages and draft Income Distribution Agreements. This process includes the creation of and dissemination of contracts using DocuSign. • Supervise Accounting student and review student work output.
General Accounting/Special Projects - 25% • Perform account reconciliations relating to royalty revenue, report discrepancies. • Participate in Tech Comm special projects as needed. – Accounting and Finance. • Work closely with current Technology Commercialization staff to review and improve processes.
• Bachelor degree and 2 years of professional accounting experience or a combination of related education and relevant work experience to equal 6 years. • Solid working knowledge of accounting principles and internal controls. • Must be able to work independently and efficiently in a fast-paced environment, and exercise sound, independent judgment.
• Bachelor degree in Finance or Accounting and 2 years of professional experience or combination of related education and work experience to equal 6 years. • Experience with PeopleSoft enterprise systems, particularly the financial modules. • Excellent teamwork, collaboration and partnering skills. • Experience with interpretation of contracts, grants, and/or license agreements.
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.