This position is responsible for preparing and maintaining financial records and reports, preparing and processing account reconciliations, and assisting with the annual external audit. Responsibilities also include accounting for the Foundationâ™s charitable gift annuity and trust programs. The Staff Accountant will support the Accounting Manager and Controller and respond to requests for information and accounting analysis from other internal stakeholders. Success requires accurate oversight of general ledger accounts and accounting procedures in accordance with Generally Accepted Accounting Principles (GAAP) and the Foundationâ™s risk and control framework.

Hybrid Work Model:

The University of Minnesota Foundation (UMF) operates under a hybrid work model, with the expectation that all staff be onsite at least 2-3 times per week. Our office is located in McNamara Alumni Center on the East Bank of the University of Minnesota - Twin Cities campus.

Responsibilities

Oversight of General Ledger Accounts (40%)

• Oversee general ledger accounts in accordance with generally accepted accounting principles and Foundation internal controls.
• Perform account analysis and reconciliations for review by accounting manager.
• Review general ledger accounts and prepare and process journal entries.
• Analyze transactions with internal and external stakeholders for errors/discrepancies; Answer accounting and financial questions and resolve problems by researching and interpreting data.
• Monitor and investigate unposted journal entries and make corrections as needed.
• Assist with preparation of audit and other external financial reporting as required.
• Develop and implement accounting procedures by analyzing current procedures and recommending changes.
• Assist with implementation of new accounting pronouncements and related process changes.
• Identify and propose opportunities for process improvement.
• Provide back-up for verification step of accounts payable as needed during busy times.
• Assist in the review and processing of daily mail. 
• Other duties as assigned.

Accounting for Planned Gifts (25%)

• Review and set up administration of all new gift annuities and trusts.
• Financial management and oversight of planned gift accounts.  This includes payment management, calculating present values of gift annuities and creating ad hoc financial reports.
• Attend monthly status meetings with Gift Planning team.
• Work with Development Officers and Gift Planning officers to close out proceeds on terminated annuities and trusts.
• Prepare, process and analyze journal entries upon set up, quarterly updates of market value, and termination of gift annuities and trusts.
• Prepare and file annual state gift annuity filings.
• Responsible for preparing and mailing annual 1099-R forms.

Cash Management (20%)

• Provide back-up to daily monitoring of cash accounts, including processing gift transmittals for EFT & wire gifts and resolving any errors/problems.
• Provide backup to daily reconciliation and release of credit card and event revenue when received.
• Complete monthly credit card reconciliation and resolve any discrepancies.
• Complete weekly cash deposit reconciliation and resolve any discrepancies.

Stock Gift Management (15%)

• Work with donors, donorsâ™ representatives and development officers to facilitate gifts of stock. 
• Daily monitoring of brokerage account activity, including working with broker to identify donor and sell stock in a timely manner. 
• Maintain audit work-papers for stock gifts and prepare monthly reconciliation of activity for review by manager of accounting.
• Value stock and prepare back-up for gift entry. 
• Prepare back-up for sales proceeds and complete journal entries. 

Required Qualifications:

• Bachelor's degree in accounting or a combination of education and relevant accounting experience to total four years
• Extensive work with spreadsheet and accounting databases
• Excellent verbal and written communication skills
• Demonstrated analytical and problem-solving skills, research, and demonstrated critical thinking skills.
• Ability to handle sensitive material in a confidential manner and to maintain data integrity.
• Commitment to quality and high performance standards.
• Ability to take initiative and function independently and as part of a team
• Ability to prioritize activities and achieve excellent customer service while ensuring timely completion of assignments.
• Excellent organizational skills and attention to detail

Preferred Qualifications:

• Five or more years of accounting experience.
• Experience in a financial environment.

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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