Position Overview

Responsible for setting the University’s strategic direction for scope of responsibilities and oversees the maintenance of the General Ledger of the University, development of accounting standards, controls assets, liability, and fund balance accounts, coordinates the annual fiscal year end business process including creation of the institution’s financial statements and management of several annual audits. Responsible for the development and implementation of administrative policies and procedures related to general accounting, capital assets, inventory and treasury processes, and the related technology and systems. Responsible for ensuring that financial information related to general accounting, capital assets, inventory and treasury are recorded accurately and timely in the University’s financial systems consistent with generally accepted accounting principles.

Hybrid Work Environment

We Offer:

• University paid contribution (10% of your salary) to your retirement account - vested immediately.
• 22 paid vacation days per year, in addition to sick leave and 11 paid holidays.
• Reduced tuition opportunities covering 75% - 100% of eligible tuition.
• Excellent and affordable health care benefits (2023 Enrollment Guide)
• Wellbeing program with opportunity to earn lower health care rates.
• Free disability insurance.
• Annual merit increase program.

Responsibilities include but are not limited to:

University's strategic direction for the following Scope of Responsibilities

• General accounting (including but not limited to chart of accounts, reconciliations, GASB standards and implementation, accounting policy and procedures, accounting templates, department transaction approvals, Federal and State funding draws), 
• Capital assets (capitalizing various types of assets including but not limited to property, library collections, intangibles, accounting and reporting), 
• Capital equipment inventory (capitalization, physical inventory of capital equipment), 
• Treasury accounting (cash, debt and investment accounting and reporting), 
• Fringe benefit accounting (annual calculation, analysis), 
• Payroll accounting (distribution entry, retro processing, payroll accounting reports), 
• Accurate financial reporting, compliant with appropriate reporting requirements such as GASB or other external stakeholders (including but not limited to the University’s annual report, financial statements/reports for various audits, Integrated Postsecondary Education Data System, and Higher Learning Commission) consolidating all five campuses of the University of Minnesota, and
• Business process owner for modules within the Enterprise Financial System (EFS) and corresponding reporting in UMAnalytics specific to Asset Management, General Ledger, Treasury, and Payroll Accounting). 

Strategic direction for the scope of responsibilities listed above (30%)

• Create a vision and strategy for the scope of responsibilities for Accounting Services at the University, and effectively communicate and promote it to senior management, faculty, staff, customers, and other University stakeholders.
• Prepare, plan and oversee the administrative and operational activities of Accounting Services. 
• Provide managerial direction and oversight to the development and implementation of automated processes.
• Drive innovation of unit process and procedures by acting as a change agent for processes and/or service improvements. 
• Evaluate and implement changes to organizational structures, staffing models, policies, procedures, systems and programs as needed to deliver outstanding service, simplify processes, and reduce costs.
• Champion and support diversity, integrity, and inclusiveness in the work environment. 
• Ensure processes and procedures align with university policy and reduce financial risk for the University.
• Ensure that adequate controls are in place across the institution to effectively manage the legal, financial, compliance, and reputational risks associated with processes. 
• Develop/ recommend annual objectives and long-range plans for Accounting Services.  Execute the approved objectives.

Unit Leadership (20%)

• Provide oversight of the department through management of 5 unit managers and 15 accounting professionals and financial staff (see Accounting Services organizational chart).
• Manage annual operating budget of $2.5 million and perform administrative activities, including setting and monitoring budgets, determining spending priorities, and reviewing/approving financial activities for unit.
• Hire, develop and maintain an accounting team that is knowledgeable of technical accounting, applicable products, business trends, and technology applications.
• Manage direct reports to include workload distribution, training, performance management, coaching, salary determination, promotion, coaching, disciplinary action and dismissal.
• Lead by example and provide leadership that mentors and develops the skills of the team.
• Create and set performance levels and manage staff work for individual and unit performance levels.
• Provide leadership that mentors and develops the skills of the unit.

Campus outreach and policy development (20%)

• Ensure processes and procedures within the scope of responsibility align with University policy and reduce financial risk for the University. Provide support and develop process improvements with respective stakeholders to resolve issues or improve processes.
• Develop and/or update University financial policies and procedures including collaboration with various stakeholders.
• Coordinate and communicate relevant general accounting, capital assets, inventory, and treasury accounting policy and procedures to Accounting Services, other Controller’s Office units, academic departments, and colleges.
• Recommend to senior leadership and implement changes to scope of responsibilities accounting policies and procedures to ensure effectiveness and efficiency of operations; compliance with applicable laws and regulations; and reliability of financial reports and financial information.
• Stay abreast of state and federal laws, regulations, and the broader regulatory environment for accounting activity by attending regional and national activities.
• Interpret and ensure that laws, regulations, and university policies are applied consistently and appropriately. Resolve issues accordingly. 
• In coordination with Financial Training Services, develop, maintain, and deliver training courses, job aids and other relevant general accounting, capital assets, inventory, and treasury accounting materials, as well as corresponding procedures.

Manage External Audits (15%)

• Manage the execution of the external audit of annual financial statements and facilitate other external audits of university programs (Singe Audit, NCAA, OHE, etc.).
• Review and approve journal entries, audit schedules, external reports as required on a daily, monthly or quarterly basis.
• Prepare presentations for the financial statement process for Senior Management and the Board of Regents.
• Respond to internal and external audits related to scope of responsibilities processes; implement finding results where necessary/appropriate.

Data Integrity/System Support and Special Assignments (15%)

• Serve as the enterprise financial system (PeopleSoft) business process owner for general ledger, asset management, treasury accounting, payroll accounting and financial reporting or other enterprise systems that support the activity.
• Provide direction and oversight on the development and implementation of automated systems required to support the scope of responsibilities.
• Collaborate with University stakeholders to develop future enhancements; work with module support to resolve critical fixes and provide direction for future system updates
• Oversee accurate and timely accounting data for query and reporting purposes.
• Perform other assigned or self-initiated duties, including special analysis, special reports, and financial projects. 

 Required Qualifications (please document on the resume):

• Bachelor’s degree in business, accounting, finance, or a related field.
• 12 years of experience in financial reporting, accounting, or financial management.
• Certified Public Accountant (active or inactive).
• Demonstrated experience successfully supervising a large, diverse workforce.

Preferred Qualifications (please document on the resume):

• Demonstrated ability to work effectively with decentralized customers and constituents.
• Experience in a large, decentralized organization.
• Ability to organize groups or initiatives which includes segments of the organization outside of one’s immediate area.
• Knowledge of current theory and practice in nonprofit, governmental, or higher education billing and sponsored accounts receivable practices.
• Ability to manage multiple and competing responsibilities. 
• Excellent analytical skills, including well practiced experience with enterprise financial systems (e.g., PeopleSoft, Oracle, SAP) and a deep understanding of how business processes are accomplished in such systems.
• Excellent written and oral communication skills with diverse audiences.
• Effective public speaking/presentation skills to large groups (>50 attendees). 

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.

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