Inside Higher Ed · 1 day ago
Director of Grant, Restricted and Endowment Funds Accounting
Benton, ME
Full-time
Onsite
Lead/Staff, Director/Executive
5+ years expInside Higher Ed is seeking a Director of Grant, Restricted and Endowment Funds Accounting to manage the financial oversight of sponsored projects, donor-restricted gifts, and endowed funds. This role ensures compliance with regulations and provides guidance to faculty and staff while maintaining accurate financial records and supporting audit processes.
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Responsibilities
Manage the full life cycle of grants and contracts, including pre-award budget review, modifications and extensions, post-award invoicing and reporting, and close-out/reconciliation
Collaborate with principal investigators (PIs) to develop and review proposal budgets, ensuring they align with sponsor guidelines and institutional policies (e.g., Uniform Guidance)
Establish new grant accounts in the financial system and monitor expenditures for compliance with approved budgets and award terms
Provide budget inputs to the Office of Financial Planning & Budget for the annual budget and quarterly forecast updates
Support audit and compliance reporting and deliverables, including the FISAP, Schedule of Expenditures of Federal Awards, A-133 audit, financial statement audit, and the NSF Research survey
Maintain accurate accounting records for all donor-restricted gifts and endowed funds. Review new gift agreements and partner with Advancement and Finance leadership to ensure correct revenue recognition in accordance with GAAP
Monitor daily gift posting integration and work with Advancement colleagues to resolve differences; reconcile gift reporting to the general ledger on a monthly basis
Ensure that fund usage is in strict accordance with the donor’s intent as outlined in gift agreements
Support departments with accessing reporting, providing reconciliation support, and providing guidance regarding their restricted fund usage
Process and record endowment pooled investment activity, provided monthly by the investment office, as well as transactions for separately invested assets
Perform endowment unitization calculation and monthly reconciliation of all endowment activity
Post the annual endowment spending allocation in compliance with the institution's spending policy and UPMIFA
Provide policy and process instructions for endowed prizes and scholarships, oversee correct use and accurate recordkeeping
Serve as primary finance contact with the outsourced service provider for life income gifts; periodically review financial reporting provided by third-party and record results to the general ledger
Serve as the primary point of contact for donors, financial advisors and college leadership on the receipt and liquidation of non-cash contributions and donated securities
Prepare and post journal entries related to sponsored and restricted fund activities
Perform account reconciliations to ensure the accuracy and integrity of financial data
Assist in the preparation of audit schedules and provide necessary documentation for the annual financial audit, the Uniform Guidance (Single Audit), and the 990 tax return
Maintain a strong working knowledge of relevant accounting standards, including GAAP and fund accounting principles
Recommend and implement internal control improvements to safeguard restricted and endowed funds
Serve as a primary resource for faculty, staff, and administrators on financial and compliance matters related to grants and restricted funds
Provide training and guidance on institutional policies and procedures, as well as regulatory requirements
Communicate proactively with stakeholders to address questions and resolve financial issues
Qualification
Required
Bachelor's degree in Accounting, Finance, or a related field
Minimum of 5-7 years of experience in accounting or financial management, preferably in a higher education or nonprofit environment
Demonstrated knowledge of Generally Accepted Accounting Principles (GAAP)
Experience with and a solid understanding of Uniform Guidance and fund accounting
Proficiency in financial/accounting software and advanced skills in Microsoft Excel
Strong analytical, organizational, and problem-solving skills with a high degree of attention to detail
Excellent written and verbal communication skills, with the ability to explain complex financial information to non-financial audiences
Preferred
Experience with a major ERP system (Workday a plus)
Certified Public Accountant (CPA) or Certified Research Administrator (CRA) credential
Experience with endowment accounting principles and UPMIFA (Uniform Prudent Management of Institutional Funds Act)
Company
Inside Higher Ed
Inside Higher Ed is the online source for news, opinion, and jobs related to higher education.
51-200 employees
Funding
Current Stage
Growth StageTotal Funding
unknown2022-01-10Acquired
2006-08-31Series Unknown
Leadership Team
Stephanie Shweiki
Director, Foundation Partnerships
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