Position Description: The Director of Finance is responsible for guiding, coordinating and monitoring the accounting, tax, treasury management and financial reporting for the university in accordance with generally accepted accounting principles, regulations, and university policies and guidelines. Collaborative leadership is a critical component of this position.
Responsibilities: Leadership, management, collaboration, and supervision
Review work of staff to ensure understanding, high quality work, maximum effectiveness, and exceptional service.
Provide supervision, leadership, mentoring, and professional development opportunities to staff. Emphasize contributions to the team. Realign staff assignments to meet team goals and deadlines. Keep staff informed, involved, and cross-trained.
Lead staff in taking the initiative to: o Understand the needs of constituents and implement solutions to meet their needs. o Plan, seek input from others, think creatively, and take action to streamline processes. o Maintain positive working relationships with both internal and external colleagues to develop resources for identifying best practices, effectively solving problems, and improving service delivery. o Demonstrate and promote high standards for quality, productivity, and service.
Direct and supervise accounting team in monitoring the university's financial and accounting activities in accordance with best business practices, generally accepted accounting principles and higher education standards and regulations including maintenance of the accounting activities in the university's financial system.
Proactively engage in appropriate and timely GAAP research and analysis, including determining implications for and application to Puget Sound. Prepare relevant executive summaries.
Review and approve journal entries and review project and account reconciliations prepared by others.
Coordinate timely and accurate preparation and detail review of Associated Student of University of Puget Sound (ASUPS) financial statements.
Review grant proposals for proper budgeting and oversee quarterly grant billing and yearly and periodic indirect cost rate proposals to insure compliance with Office of Management and Budget (OMB) circulars.
Prepare or review financial surveys.
Continually assess the adequacy of and educate constituents on the importance of maintaining effective internal controls. Identify opportunities to strengthen internal controls and recommend/implement improvements.
Gift, life income and endowment accounting:
Review OUR gift report reconciliation and gift reports.
Review results of pledge audits, unconditional promise entries, conditional promise disclosures, and related audit schedules.
Supervise and/or coordinate liquidation of non-cash gifts and tracking and receipt of bequests.
Review endowment and life income market values and reconciliations, ensuring compliance with GAAP.
In coordination with Office of University Relations, oversee the third party planned giving administration of the life income trusts trusteed by the university, including beneficiary payments, annual returns, fees, and overall relationship.
Lead the collaboration of human resources, payroll, accounting, and budget staff to ensure: o payroll and benefit commitment control (budget) and general ledger entries (including allocations) are correctly sequenced, accurate, and timely; and o projections to establish compensation budgets and budget variance reports (BVR) are analytically sound and based on appropriate assumptions.
Oversee the creation and maintenance of detailed operating budgets in PeopleSoft that reconcile with the budget approved by the Board.
Review quarterly preparation and analysis of financial projections and the production of the Budget Variance Report (BVR) prepared by staff.
Coordinate with AVP of Finance, external auditors, and other university colleagues to plan and execute successful and highly efficient/effective annual financial statement, federal programs and retirement plan audits, including maintaining, updating, and communicating: o Client Audit Preparation (CAP) schedules; o procedures and guidelines for preparing CAP schedules; o fiscal year close, audit, and financial report timeline; and o timely and relevant information about the annual audit within Office of Finance and with other departments.
Coordinate with staff to complete fiscal year-end inventory observations and related schedules, accounting entries, and written documentation. Provide internal control review and GAAP oversight to inventory processes.
Coordinate the draft of the consolidated financial statements, note disclosures and Uniform Guidance audit Schedule of Expenditures of Federal Awards, including timely distribution of published financial statements/reports.
Tax and regulatory compliance
Coordinate preparation and review of federal Form 990 and Form 990-T and state income tax returns and yearly tax reporting for non-resident alien payments and withholding.
Perform high level review of state excise and local B&O and admission tax returns and initiate timely payment.
Proactively engage in appropriate and timely tax research, analysis, planning, and compliance activities, including determination of implications for and application to Puget Sound. Prepare relevant executive summaries.
Coordinate, review and provide assistance with annual filing of life income tax returns as prepared by third party planned giving administrator.
Coordinate and oversee annual property tax payments and inventory of exempt and nonexempt properties in cooperation with the AVP for Business Services.
Provide backup for; review/approve AP and payroll checks; and review/approve payroll tax reporting (IRS Form 941 and Forms W-2).
Treasury and short-term investments
Oversee, review and approve bank services and transactions including merchant services, wire and ACH transfers, change order requests, and armored car services.
Ensure that bank fee analysis, bank reconciliations and detail and high level reviews are completed accurately and timely with the appropriate segregation of duties.
Monitor and review compensating balance information and necessary changes to this balance to ensure coordination with liquidity requirements for bond compliance and acceptable return on pooled cash.
Monitor and review pooled cash interest allocation and proper accounting for allocation.
Coordinate purchase, accounting, and certification for self-insured workers compensation escrow account, state of Hawaii CGA, and other separately held investments.
Supervisory Responsibilities The Director of Finance supervises the following individuals:
Senior Financial Accountant
Senior Financial Accounting Analyst
Senior Tax and Accounting Analyst
Student and temporary staff (occasionally)
Budget Responsibilities: No direct budget authority exists for this position
Requires bachelor's degree and current Washington State CPA license in good standing.
Requires five years of related professional experience that demonstrates progressive responsibility in such areas as accounting, treasury, endowment accounting, and tax. Requires extensive experience with GAAP, tax, and regulatory research, analysis, interpretation, and implementation. At least three years of applicable management level experience is preferred.
Requires experience in consolidation accounting; preparation of consolidated GAAP financial statements; financial analysis; and a firm understanding of automated accounting systems and data bases, including strong database query and reporting skills. Experience in tax-exempt organization and trust tax return preparation and/or review and endowment investment accounting including solid understanding of endowment unitization is highly desirable.
Requires the ability to read and comprehend legal and other complex documents.
Effective communication skills with strong presentation and writing skills are desired. Must possess collaborative nature and positive outlook with ability to build teams and effective relationships across organizational lines, and to mentor and develop staff.
Requires the ability to juggle multiple tasks simultaneously and respond positively to changing circumstances.
Must have initiative, take ownership of projects, ability to meet deadlines, attention to detail, strong analytical skills, excellent coordination, follow-up, and problem solving skills, and be a quick and continuous learner.
Must have superior skill with Microsoft Word and Excel.
Higher education experience very desirable.
Ability to respectfully work, communicate and provide leadership within a diverse campus community
Compensation and Benefits: Decisions about starting salaries are made based on the extent and relatedness of the candidate's education and experience and on internal equity and market considerations.
This position is exempt from the provisions of the Fair Labor Standards Act.
Application Deadline: Review of application materials will begin immediately. Search and selection procedures will be closed when a sufficient number of qualified candidates have been identified.
All offers of employment are contingent on successful completion of a background inquiry and if applicable for the position, drug screen, physical test and functional assessment.
We acknowledge the richness of commonalities and differences we share as a university community; the intrinsic worth of all who work and study here; that education is enhanced by investigation of and reflection upon multiple perspectives.
We aspire to create respect for and appreciation of all persons as a key characteristic of our campus community; to increase the diversity of all parts of our University community through commitment to diversity in our recruitment and retention efforts; to foster a spirit of openness to active engagement among all members of our campus community.
We act to achieve an environment that welcomes and supports diversity; to ensure full educational opportunity for all who teach and learn here; to prepare effectively citizen-leaders for a pluralistic world.
About Puget Sound Puget Sound is a selective national liberal arts college in Tacoma, Washington, drawing 2,600 students from 48 states and 20 countries. Puget Sound graduates include Rhodes and Fulbright scholars, notables in the arts and culture, entrepreneurs and elected officials, and leaders in business and finance locally and throughout the world. A low student-faculty ratio provides Puget Sound students with personal attention from faculty who have a strong commitment to teaching and offer 1,200 courses each year in more than 40 traditional and interdisciplinary fields, including graduate programs in occupational and physical therapy and in education. Puget Sound is the only nationally ranked independent undergraduate liberal arts college in Western Washington, and one of just five independent colleges in the Pacific Northwest granted a charter by Phi Beta Kappa, the nation’s most prestigious academic honorary society. Visit "About Puget Sound" (http://www.pugetsound.edu/about) to learn more about the college.
As a strategic goal and through our core values, University of Puget Sound is committed to an environment that welcomes and supports diversity. We seek diversity of identity, thought, perspective, and background in our students, faculty, and staff. EOE/AA