This position serves as the assistant to the foundation controller in the area of the foundation’s financial status and activities, its accounting requirements and the maintenance of its financial records and financial database. Reporting to the foundation controller, this position interfaces with the foundation’s treasurer and investment committee (board members), outside accounting firm, financial institutions, and many areas of the university including but not limited to institutional advancement, finance and business, budget and financial planning and others. This position requires a strong knowledge of generally accepted accounting practices, financial reporting requirements (internal and external), internal auditing and tax reporting.
Duties and Responsibilities:
Serve as foundation liaison to various areas within the university including but not limited to financial services, academic departments, deans and department chairs, grants and sponsored programs and institutional research as it pertains to the foundation's finances
Assists in preparing financial reporting for presentation at Investment and Audit/Finance Committee meetings. Attend Foundation Committee and Board meetings as needed
Works closely with the foundation controller, Foundation Audit/Finance Committee/treasurer and the foundation's auditors in the overall annual audit process in accordance with internal reporting needs and new accounting requirements
Performs analysis of financial and statistical data and makes recommendations to the foundation controllerin preparation of the annual budget presentation to the Audit/Finance Committee and Foundation Board. Prepares underlying financial analysis as well as consistently monitor and report on expenditures against those budgets to the foundation controller
Assists with the annual endowment spending policy calculations and communicates information to all appropriate university wide departments and area heads. Works closely with finance and business on obtaining reports of how the funds are spent
Performs accounts payable functions and is responsible for maintaining the proper storage/scanning of all foundation related documents
Maintains monthly, quarterly and year-end account processing and reconciliations; monitor status, reconcile and report on all cash and other investment accounts owned by the foundation. Interfaces with the foundation’s financial institutions to assure accuracy
Assist in the development of policies and procedures for foundation activities, including internal controls, requirements as required by accounting standards, office procedure and accounting database systems, supporting schedules and reporting requirements
Ensure compliance with tax reporting requirements with federal and state agencies. Stay current with IRS 990, Massachusetts state filings and reports, UPMIFA requirements and any other relevant legal and tax matters
Provides input to executive director of Salem State University Foundation, associate vice president of institutional advancement and major gift officers in the development of language for endowment terms
Provides assistance to the staff assistant for the executive director of the foundation as it relates to the scholarship process
Assists with analytical financial reports as assigned by the vice president institutional advancement/executive director, foundation.
Serves on committees/task forces as assigned
Performs other duties as assigned by the foundation controller and executive director
Demonstrates sensitivity to students, faculty, and staff of varying racial, ethnic, religious, gender, cultural, disability, sexual orientation and socioeconomic backgrounds
Demonstrates sensitivity to students with a diversity of learning styles
Serves as a role model and mentor for students as appropriate
Minimum of four years of financial management experience in the accounting field, including experience with fund accounting standards and procedures and a familiarity with investment management principles with preference given to daily operation of non-profit 501(c)3 organization
Working knowledge of budget planning and data management
Salem State University, located just 15 miles north of Boston, is one of the largest state universities in the Commonwealth of Massachusetts, and an important partner in the economic, cultural and intellectual vitality of the greater north-of-Boston region. Situated in the historic seacoast town of Salem, Massachusetts, Salem State provides a diverse community of learners a high quality, student-centered education; one that prepares them to contribute responsibly and creatively to a global society.