Duties: The Director will be primarily responsible for strategic planning and project management activities and high level analysis of all areas performed by the Accounting Operations group. Oversee and lead all aspects of Penn's fixed asset management, accounting and analysis process for assets valued at over $4 billion, including the quarterly two-year cycle moveable equipment inventory process, capital project closeout process and proper identification and verification of new additions to ensure proper recognition of depreciation for GAAP reporting, timely dispositions and Indirect Cost Recovery ('ICR'). Oversee the cash reconciliation process and the billing and collections processes for the Commonwealth of PA appropriations, related entity inter-company accounts, the health affiliate activities and supervise a staff of 3 direct reports. Assume all responsibilities related to these areas currently being performed by the Associate Comptroller.
ACCOUNTING: Ensures compliance with GAAP through detailed review of complex accounting rules and the application of those rules to complicated and multifaceted asset or property transactions throughout the University. Generally prepares and in some cases reviews professionally documented accounting and reporting research 'position papers recommending and approving critical accounting decisions. Monitors emerging accounting, reporting and control rules promulgated by authoritative bodies. Evaluates these emerging rules and practices, communicates impact on the University, and recommends and implements appropriate actions.
ANALYSIS: Ensures complete financial cost and facilities analysis of capital projects to properly allocate costs to buildings and building service systems. Analyze and document activity in all fixed asset accounts and provide substantiation of balances for internal control and audit purposes.
Manages and implements a comprehensive monthly analysis process designed to detect and correct significant accounting/reporting errors and identify and communicate corrective actions required to prevent their reoccurrence. Develop reports for communicating process exceptions and improvement progress. Provide executive level written explanations for operational changes.
ASSET MANAGEMENT: Serves as the functional owner for BEN Assets and represents the Comptroller's Office with any system related activity. Direct the fixed asset physical inventory process for moveable equipment (approximately 12,700 assets worth $522 million). Direct the verification of new additions and proper asset disposal reporting and authorization with school/center asset administrators to ensure proper categorization, location and descriptions. Manage the recurring asset accounting functions in the BEN Assets system and monthly closing process. Develop and analyze metrics for fixed asset process exceptions, and develop process improvements. Develops and implements methods and procedures to ensure proper GAAP depreciation reporting and ICR
REPORTING: Ensures reporting accuracy and transparency through detailed level review of monthly, quarterly, and annual financial statements and related disclosures including footnotes prepared by the reporting group and multiple groups in other organizations. Plans and directs both the GAAP related and RCM related reporting process at assigned schools and centers. Directs the preparation and analysis of internal reports, such as the following: school/center RCM closing summaries, various project related performance metrics, departmental object code inventories, etc.
CONTROL: Partners with Financial Reporting to plan and direct the functional aspect of the closing process/schedule and collaborates with Finance IT and ISC on related system requirements. Supports a comprehensive business control model in the department including assignment of object code control and analysis responsibilities, and monitors the process to ensure controls (e.g. reconciliations, aging, analytical reviews) are operating as intended.
EXTERNAL AUDIT: Supports all aspects of the external audit process including participation in quarterly reviews and annual audit activities, performing related internal activities to meet external deadlines, coordination with other functional departments to ensure that necessary supporting information is provided timely and accurately.
RELATED PARTY ACTIVITIES: Directs the monthly, quarterly and annual process to ensure billings/receivables from/to related entities are properly stated and expedite the collection of outstanding amounts due to the University, while at the same time ensuring all related entity activities are properly understood and documented, proper GL code combinations are being utilized and properly eliminated in consolidation to comply with GAAP requirements.
COMMONWEATLH APPROPRIATIONS: Directs the preparation and review of the Commonwealth Appropriations Report required to be submitted to the Commonwealth of Pennsylvania (PA) quarterly to ensure completeness, accuracy and transparency in order to maximize and maintain the annual budgeted amounts contributed from to the Vet School and other University departments from PA and timeliness of payments.
HEALTH AFFILIATES ACTIVITIES: Directs the monthly, quarterly and annual process to ensure billings/receivables from/to Health Affiliates of the University are properly stated and work with schools and centers to find ways to improve/expedite the collection of outstanding amounts due to the University.
CASH: Directs and/or oversees the reconciliation process for 25+ cash accounts across the University to ensure all transactions are properly recorded in the University general ledger in the proper period and any reconciling items are investigated and properly addressed in a timely manner in accordance with University financial policy.
FINANCIAL POLICY MANUAL: Directs a comprehensive annual review and update process of the University's Financial Policies to ensure that policies are still accurate, meaningful and relevant to the current activities being performed at the University, to identify any new policies that require addition and to remove policies decided to no longer be applicable to University business activities.
Partners with Facilities and Real Estate Services and Environmental Health & Radiation Safety to plan and direct the quarterly asset retirement obligation process to ensure proper reporting of obligations related to hazardous material remediation capital projects in University owned real estate and subsidiary owned real estate.
Directs the monthly, quarterly and annual process to ensure interest on University indebtedness is properly capitalized to ongoing capital projects to comply with requirements under GAAP.
Qualifications: Bachelor's Degree and 7 years to 10 years of experience or equivalent combination of education and experience is required.
Reference Number: 87-17980
Salary Grade: 030
Employment Type: Exempt
Org: Comptroller's Office
Special Requirements: Background Check Required
Job Family: B-Executive/Managerial Administration