Reporting to the President, the Chief Financial Officer serves as the staff liaison to the Finance Committee of the Board of Trustees. The CFO is responsible for all financial transactions that affect the Won Institute across the operating and endowment accounts. The incumbent will partner with the senior leadership team and the Board of Trustees to develop and implement financial processes, programs, and strategies across the organization.
Responsibilities include the following:
Oversee the accounting department to ensure proper maintenance of all accounting systems and functions, and supervising finance staff. Creates and maintains the appropriate segregation of duties regarding staff functions as they relate to account receivables, account payables, and credit card transactions. Ensures maintenance of appropriate internal controls and financial procedures. Ensures that all financial transactions are appropriately reported on the general ledger and reconciled to transactional documentation on a timely basis.
Examines invoices and approves for processing
Confirms the accuracy of payroll transmission
Ensures proper processing of cash receipts and expenses related to petty cash, bookstore, and clinic transactions
Oversees compliance with all Title IV regulations for reporting, accounting standards, and federal funds management.
Oversees cash, investment, and asset management as well as all external financial services relationships. Manages and analyzes the cash flow ensuring the availability of cash to meet payroll and operating expenses, including seasonal borrowing from bank lines of credit.
Prepares financial reports for review and analysis for the President and the Board of Trustees including quarterly financial, variance analysis, and budget projections of planning initiatives. Engage the President and Finance Committee of the Board of Trustees to develop short-, medium-, and long-term financial plans and projections.
Prepares financial reports for accrediting and governmental agencies within prescribed due dates.
Oversee the preparation and communication of monthly and annual financial statements, ensuring timeliness, accuracy, and usefulness of financial and management reporting for the President, senior management team and Board of Trustees.
Oversee the marketing and development departments, including the maintenance of the donor database using Salsa software. Ensure that the Institute’s branding and messaging are consistent across all platforms and are appropriate to an institution of higher education.
In coordination with the senior leadership team and staff, develops strategic plans and annual operating plans and budgets.
Develops and utilizes forward-looking, predictive models and activity-based financial analyses to provide insight into the organization’s operations and business plans. Serve on planning and policy-making committees.
Develops and coordinates the budget development and approval process including budget templates and estimates of operating income and expenses for review by the President
Coordinates internal and external audit reviews, regulatory reporting, and appropriate filing of tax schedules. Reviews and evaluates existing internal controls to ensure fiscal accountability and compliance with appropriate regulations.
Ensure legal, regulatory, and GAAP compliance regarding all financial transactions and functions
Coordinate the preparation of financial statements, financial reports, special analyses, and information reports
Develops technology initiatives to ensure appropriate efficiencies and services. Creates, coordinates, and evaluates the financial programs and supporting information systems of the company to include bookkeeping, enrollment management, budgeting, tax planning, real estate, and conservation of assets.
Coordinates with Chief Administrative Officer and Chief Academic Officer to ensure that student financial services which include financial aid, bursar, and registrar function (exclusive of academic policy consideration) comply with federal and state requirements. Works to ensure a student-focused and efficient process in the collection of fees and the servicing of student loan requests.
With the President, Chief Academic Officer, Chief Administrative Officer and consistent with the priorities of the Board of Trustees, provides the necessary links between institutional planning and budgeting.
Directly supervise the Finance Officer, Senior Accountant, Marketing Manager. Dotted line supervision of the President’s Assistant with respect to Development duties of that role.
BS. in Finance or Accounting, a CPA and/or MBA preferred.
Significant experience in, or, knowledge of nonprofit accounting, including student lending foundation, program, and grant accounting, compliance, Title IV funds, and reporting. Knowledge of finance, accounting, budgeting, and cost control principles including Generally Accepted Accounting Principles. Knowledge of monitoring and reporting of federal and state educational agencies.
Knowledge of automated financial and accounting reporting systems; experience with Sage Cloud preferred, but not required. Experience with Populi enrollment management software is a plus. Experience with donor management software a plus. Experience working with information technology specialists to manage finance and accounting software packages.
Work requires professional written and verbal communication and interpersonal skills. Ability to produce quality materials within specified timeframes and simultaneously manage multiple projects.
Demonstrated leadership ability, and interpersonal skills enabling the incumbent to work in a complex, inter-functional and diverse cultural environment.
Ability to analyze financial data and prepare financial reports, statements, and projections. Analytical, abstract reasoning skills and excellent organization skills.
Experience in strategic planning and execution.
Comfortable with and respectful of the institution vision, mission and goals.
Telecommuting is allowed.
About Won Institute of Graduate Studies
The Won Institute of Graduate Studies is a small specialized graduate-only institution that is regionally accredited and holds programmatic accreditation for its acupuncture and Chinese Herbal Medicine programs. Currently located in the Philadelphia suburb of Glenside, it is planning a move to a new campus in Warminster, PA in fall 2021. Its educational philosophy is to provide not only professional training in the healing arts, but to cultivate the spiritual foundations that lead to compassion and service.
The Won Institute provides acupuncture at several community locations serving those in addiction recovery, veterans, and homeless populations. It is the only school in Pennsylvania for acupuncture and Chinese Herbal Medicine and the only school outside of South Korea that trains Won Buddhist ministers. Its ministerial graduates are located at Won Buddhist Temples throughout the United States.