Fund Accountant 1

Location
Stanford
Posted
Oct 13, 2017
Institution Type
Four-Year Institution


Stanford University

Fund Accountant 1

Job Number:
76672

Note: Not all unique aspects of the job are covered by this job description.

A strong internal candidate has been identified for this position.

Stanford University is one of a select group of American universities that have achieved eminence in both undergraduate and graduate education and in a broad range of academic disciplines. The University is internationally recognized for the quality of its teaching and research, its distinguished faculty and its outstanding student body. Our mission is to educate future leaders and promote interdisciplinary, world-class research and teaching. This passion makes Stanford an intensely creative, rewarding, and challenging place to work.


Over the past 10-15 years, the business, technology and political environments have become more complex, faster paced, and litigious. Stringent accounting requirements have arisen to address the transparency of investments and keep pace with other areas of concern. New accounting standards have been issued for leases and not-for-profit accounting and reporting. In addition, other regulations and rules we need to comply with are more complex, e.g., international compliance considerations and banking regulations, and a new internal control framework - COSO - has been adopted. Heightened scrutiny from our external auditors has resulted in more extensive requests for information in an effort to understand non-profits' business activities and related controls. Additionally, technology continues to change rapidly and the underlying tools further add to the complexity and riskiness of the environment.


Reporting to the Fund Accounting Manager, the Fund Accountant interacts with a team of professional accountants that partner with the University's schools and departments in stewarding University funds. The Fund Accounting team is primarily responsible for endowment funds, trusts and expendable funds. Fund Accounting establishes the accounts for these monies, ensures that funds are used appropriately and properly recorded, provides related operational functions (such as buying and selling shares, allocating payout), and supports individuals in the schools and departments as they manage these funds.


In addition to working with Schools and Departments, this position also works closely with central University management, Office of Development (OOD), Provost's Office, and Stanford Management Company (SMC). Fund Accounting is also a key business owner of the Oracle Financials system and related reports, representing both the central office interests and those of the schools and departments in decisions and functionality related to fund accounting.

Specific responsibilities of this position include: As a liaison to schools and departments,
  • Work with individuals in the schools and departments to understand their business needs and requirements and ensure services delivered meet or exceed these needs.
  • Ensure that individuals in schools/departments are aware of processes, policies and tools involving their funds, and assist with educating their staff.
  • Ensure high quality shareholder services for other investment are provided to fund holders of the University Expendable Funds Pool (EFP) and Endowment Income Funds Pool (e.g. payout, communication etc.)
As a steward of University funds and financial information,
  • Analyze new gift types and complex transactions to determine appropriate classification, restrictions, and use of funds.
  • Support efforts to establish and maintain the appropriate information in the University's Oracle Financial System, including accounts (PTAs), related attributes and Fund Authorization.
In conjunction with other central offices, provide services and tools to schools and departments to assist them in managing their funds efficiently and effectively.
  • Coordinate with other central departments, including Office of Development (Planned Giving, Gift Processing), Stanford Management Company, to ensure smooth transition when gifts are received, or investments are made. Ensure terms or restrictions of gifts are understood and properly addressed.
  • Perform month end and year end close processes in support of University and school/department requirements. .
  • Participate in system testing efforts, as required, to improve financial systems or upgrades.
As a staff member within the Controller's Office, actively support and initiate efforts to achieve the Controller's Office mission and vision. This includes:
  • Maintaining a University perspective in day-to-day activities as well as longer-term initiatives and strategies.
  • Representing the Controller's Office as a whole in interactions with others.
  • Developing relationships and providing high levels of service to school and department clients and other central business partners.
  • Developing and promoting relationships among CO departments and staff.
  • Actively participating in and/or leading Controller's Office activities.
JOB PURPOSE:

Perform moderately complex accounting activities and functions, including monitoring accounts, preparing documentation, expenditure reconciliations and reviews, revenue reporting/accounting, purchases and reimbursements, general ledger transactions, and journal entries.


CORE DUTIES*:
  • Review, process, gather, and compile accounting transactions and documents for completeness, accuracy, and compliance. Contribute to development of analyses to be used for key activities or decision making.
  • Identify, prioritize, and resolve accounting issues; probe beyond stated situation; identify underlying issues; recognize exceptions; perform preliminary analysis.
  • Run, maintain, reconcile, review, combine, analyze and validate financial data sets, utilizing financial reports, financial databases, and key financial information often from multiple systems. Assist in the preparation of basic management information reports.
  • Identify and resolve incorrect journal entries, data anomalies, deviations from established procedures, and unusual issues.
  • Collect data and perform research on details of transactions. Ensure work complies with complex internal policies and external regulations which may require interpretation.
  • Participate as a member of a project team and contribute to change management strategy through communication and collaboration with others.
  • Recommend, assist, test, or implement process streamlining, system improvements or work flow changes.
  • Contribute to development and maintenance of desktop procedures and process documentation for area of responsibility.
  • Serve as a liaison to other departments to resolve accounting-related issues.
  • May train, coach, and review the work of other staff, as needed. Contribute primarily through applying individual expertise. * - Other duties may also be assigned MINIMUM REQUIREMENTS:
    Education & Experience:

    Associate degree plus two years of applicable experience, or combination of education and relevant work experience.


    Knowledge, Skills and Abilities:
  • Proficiency in basic business applications, such as Microsoft Office; user knowledge of Excel.
  • Basic knowledge of accounting systems and the internet; computer literacy.
  • Understanding of and ability to apply accounting skills and concepts.
  • Ability to draft professional e-mails, memos, business letters, and reports, and to clearly and effectively communicate information to internal audiences and client groups.
  • Ability to learn project management skills and to participate as part of a project team. Certifications and Licenses:
    None
    PHYSICAL REQUIREMENTS*:
  • Constantly perform desk-based computer tasks.
  • Frequently sit, sort, file paperwork or parts, grasp lightly, and use fine manipulation, lift, carry, push and pull objects that weigh 10 pounds or less.
  • Occasionally write by hand, twist, bend, stoop and squat.
  • Rarely stand, walk, reach or work above shoulders and use a telephone. * - Consistent with its obligations under the law, the University will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of his or her job.


    WORKING CONDITIONS:
  • May work extended hours during peak business cycles. WORK STANDARDS:
  • Interpersonal Skills: Demonstrates the ability to work well with Stanford colleagues and clients and with external organizations.
  • Promote Culture of Safety: Demonstrates commitment to personal responsibility and value for safety; communicates safety concerns; uses and promotes safe behaviors based on training and lessons learned. Subject to and expected to comply with all applicable University policies and procedures, including but not limited to the personnel policies and other policies found in the University's Administrative Guide, http://adminguide.stanford.edu.-


    Stanford is an equal opportunity employer and all qualified applicants will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by law.

    Job: Finance

    Location: Business Affairs: Financial Management Services (FMS)
    Schedule: Full-time
    Classification Level:

    To be considered for this position please visit our web site and apply on line at the following link: stanfordcareers.stanford.edu

    Stanford is an equal opportunity employer and all qualified applicants will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by law.






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