The Director of Accounting Operations & Treasury is responsible for all Accounting and treasury operations for the CIA across all campuses. The Director oversees the accounting staff involved in general accounting, treasury, accounts payable, accounts receivable, payroll, and inventory control and branch campus accounting operations. The Director of Accounting Operations & Treasury works closely with the Director of Finance, Director of Budgets and the Internal Auditor to ensure that the proper controls, reporting, and systems are in place to successfully execute upon all Finance responsibilities. The Director leads all cash management functions, including oversight of daily cash receipts and payments, management of the online banking system, and reporting of current cash position and forecasting future cash position.
• Design, implement and maintain appropriate policies and procedures to enable accurate and timely financial reporting, which is compliant with US GAAP and other regulatory requirements.
• Execute and lead all monthly and annual accounting closes, including deadlines to meet all reporting requirements.
• Monitor key internal controls to ensure compliance with the CIA’s policies and procedures.
• Oversee and manage the hiring, professional development, and annual evaluation process for staff.
• Provide infrastructure, budgets, and policy guidelines for departments.
• Advise, develop and assist in the design and implementation of corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future.
• Assist the Controller with day-to-day activities related to certain complex accounting matters (impairment of assets, segment reporting/allocations, capitalized software, revenue recognition).
• Manage the timely preparation of the annual audit. Coordinate with external auditors to promote an efficient, productive audit of the internal controls and financial records. Works closely with the Director of Finance to prepare and execute data needs required by external auditor.
• Works with the Director of Finance and Controller to organize the timely preparation of the annual audited consolidated financial statements and related footnotes. This includes conducting proactive, and in-depth discussions about data needs required by the external auditor and manage the timely preparation/delivery of those data needs, with specific regard to technical accounting matters.
• Evaluate, develop and implement cash management system to optimize efficiencies.
• Manage and monitors the production of the Cash Summary Statement on a daily basis including cash flow projections.
• Manage short-term investment strategy.
• Direct the Institute’s electronic banking activity, including but not limited to wires, ACH, direct deposits, and transfers. The banking activity includes both domestic and international transactions. Monitor bank service fees and addresses quality issues.
• Monitor incoming revenues and Accounts Payable disbursements and cash flow requirements. Ensure proper processing of payments including bi-weekly payroll checks, direct deposit, employment taxes and TIAA retirement funding.
• Work closely with the Director – Finance and the Student Financial Services (SFS) team to monitor the Institute’s working capital requirements. Manage the treasury and cash flow of the Institute’s ingoing and outgoing financial obligations.
• Oversee the reconciliation of revenue accounts including tuition and fees for all degree and certificate students for all campuses.
• Ensure the correct and timely reconciliation of the Institute’s subsidiary systems for accounts receivable, student accounts receivable, accounts payable, financial aid, continuing education, gifts received and special events to the General Ledger.
• Project short term and long term cash requirements and provide same to Vice President – Finance on a monthly basis.
• Oversee the request and transfer of Federal Funding for students.
• Manage bond and derivative SWAP interest payments and monitor collateral requirements.
• Assist with the preparation and compilation of the Institute’s Annual Budgets and year end audited financial statements.
• Recommend, implement and maintain process improvements in the area of accounting, accounts payable, accounts receivable, and cash management.
• Any and all other duties as assigned.