Chief Financial Officer
Job Summary
Key role in projection and management of finances to enable the Institute’s globally leading research in human immunology in our pursuit of Life Without Disease. Position reports to the President/CEO, is member of the Executive Leadership Team, and is responsible for pre- and post-award administrative functions at LJI related to accounting, sponsored research, revenue recognition, purchasing and financial management. Participates with the Executive Leadership Team in the development of current and long-range financial plans, objectives and policies. Works closely with the Board of Directors, especially the Board Finance Committee chair. Responsible for the management of LJI’s system of financial accounting, reporting and related management information systems; purchasing; audit and tax compliance; treasury functions, including banking operations, cash-flow management; and budgeting. Oversees the administration of all grants & contracts from application through close-out, and the accounts receivable, payroll, internal control, cost accounting and purchasing functions at LJI.
Essential Duties and Responsibilities
Financial Management ● Reviews reports to analyze projections of revenues and expenditures against actual figures, comparisons to budget, and suggests methods for improving the management of financial resources as appropriate. ● Prepares high-level presentations for management and the Board of Directors regarding the Institute’s financial status and projections. Uses professional judgment in assessing the level of material appropriate for the audience and presents financial information in a clear, concise manner. Works closely with the Chair of the Finance Committee in providing information and preparing these communications. ● Manages team assigned responsibility for maximizing revenues through proactive management of and accounting for federal, philanthropic and royalty/license funding. ● Oversees management of surplus IDC funds and process for recording additional unbudgeted direct & indirect revenues. Strategically looks for opportunities to record additional revenues by high-level analysis of multi-year project expenses and multi-year provisional vs. final IDC rate fluctuations (i.e. IDC settlement process). ● Assesses the need for borrowing, negotiates loan agreements and assures that covenants are met and debt service is appropriate. ● Manages daily cash flow and transfers between banks to ensure positive cash flow while simultaneously maximizing investment earnings. ● Meets regularly with budget managers to keep informed of current business activities and to offer professional advice in terms of managing departmental budgets and ensuring compliance with internal & external policies. ● Participates in financial planning and monitoring for LJI core facilities with emphasis on UBIT considerations and operation of these facilities as profit/loss centers. ● Maintains and develops financial projection model used for forecasting of IDC rates. Financial Reporting ● In consultation with the President/CEO, directs the preparation of all financial reports, including income statements, balance sheets, reports to management and principal investigators, tax returns, and reports for government regulatory agencies. ● In consultation with IT and leadership, directs the development, or purchase, of new computer-based reporting tools or systems that allow staff to create reports, allow decision-makers ready access to information, and improve the efficiency of operations. ● Monitors all financial and other corporate reporting deadlines to ensure timely submission. ● Ensures timely and accurate completion and distribution of periodic financial reports and analyses. ● Conducts complex financial analyses at the direction of the President/CEO. ● Supports budgeting, accounting and reporting for LJI’s provision of property management services and shared lab support services in accordance with governing agreements. Accounting & Audit ● Oversees the operations of the Accounting Department. ● Supervises the Controller/Director of Accounting ● Ensures that all accounting and financial reporting practices are conducted in accordance with appropriate regulatory and third-party requirements, and Generally Accepted Accounting Principles (GAAP). ● Manages annual audit and ensures appropriate internal controls are in place. Coordinate management’s response to any comment letter items. ● Supervises Senior Accountant responsible for internal control functions, budget document preparation, and specialized accounting tasks (royalties, investments, donations, foreign tax treaties, etc.). ● Oversees payroll operations ensuring accurate, timely payroll processing in close coordination with the Human Resources Department. Special focus on proper administration of foreign national employee’s tax withholding & reporting. ● Reviews draft Form 990 and related IRS returns prior to signing by CFO. ● Reviews major accounts payable transactions for accuracy, proper accounting treatment and adequate supporting documentation. ● Reviews & approves new, or changes to existing, written Accounting Policies and Procedures. Research Finance ● Supervises Research Finance which has responsibility for directly assisting PIs with managing their respective portfolio of grant & contract funds. ● Supervises Sr. Manager, Research Finance who serves as a central point of administrative contact for all PIs, and financial manager of all grant & contract funds. ● Participates in regular reviews on the status of all grant funds, coordinates with staff, President/CEO and CSO on appropriate action, as necessitated by circumstances. ● Directs the semi-annual PI financial forecasting process and monitoring of PI plans of corrective action. ● Responsible for ensuring compliance with federal, and non-federal, rules and regulations governing grant/contract funds. FP&A ● Supports the President/CEO in the preparation of the annual budget and related supporting schedules. ● Supervises Sr. Director of FP&A ● Directs the preparation, distribution, collection, and summation of proposed departmental budgets. ● Directs the preparation of the grants & contracts revenue forecasts relying on a combination of funded, pending, and planned grant/contract data (USL/GMS) and knowledge obtained by the G&C Administrators directly from PI’s in terms of planned spending. Purchasing ● Supervises the Purchasing supervisor and department ● Responsible for and directs the continuous operation of LJI’s purchasing department and ensures that a continuous supply of goods and services are procured at the best price, terms, and speed to support the operations of the Institute and our Faculty. Sponsored Research ● Oversees the operations of the Sponsored Research Department to ensure the integrity of the Grants Management System (GMS). ● Supervises the Director, Office of Sponsored Research ● Oversees controls for proper budget set-up and coordination with the Accounting Department in activation of new awards, invoicing, reporting, and grant close-out. ● Responsible for coordination of all communications with regard to payment of stipends, to fellows, Faculty, Human Resources, Accounting, and G&C Depts. ● Reviews & approves new, or changes to existing, written Policies and Procedures relating to financial matters of Sponsored Research. Leadership & Mentoring ● Builds and maintains mutually supportive relationships with all levels of management, Faculty, staff, outside agencies, and vendors. ● Encourages close working relationships between Office of Sponsored Research, Grants & Contracts, and Accounting Department staff to ensure institutional goals and objectives are achieved. ● Instills in staff a strong customer-service orientation in support of Faculty, Scientific Cores and their teams. ● Responsible for evaluating the overall performance of personnel in Research Finance, Accounting, and Purchasing, Office of Sponsored Research, and Grants & Contracts. Recommends training requirements, has duty to keep the staff at the highest level of skill necessary to meet Institute needs and objectives, and may recommend that personnel be hired, counseled and/or terminated. ● Responsible for providing seamless pre- and post-award administrative support to Faculty to support the research of the Institute. ● Maintains knowledge of current financial reporting trends and developments in the fields of accounting, finance, tax, and grants administration. ● Maintains relationships with colleagues in other organizations for the benefit of sharing ideas, best practices and other topics of common interest.
● BS/MS in Accounting or Finance. A CPA and MBA or Master’s degree in a related field are a plus. ● Must have 8 to 10 years’ experience in corporate finance or non-profit finance and accounting. ● Must demonstrate the ability to manage and develop staff. ● Experience with the implementation and administration of computerized accounting and financial reporting systems is required.
With over 20 different countries represented, diversity is respected and celebrated at LJI. We are committed to ensuring a safe and compassionate environment that is equal, just, and fair. Science and discovery benefit from a diversity of talents, a diversity of approaches, and a diversity of perspectives. The La Jolla Institute’s Diversity, Equity, and Inclusion Initiative is designed to help us identify areas at the Institute that need improvement so we can together create an environment that is inclusive, provides equal opportunities, and opens doors that propel our research for human health.
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With over 30 different countries represented, diversity is respected and celebrated at LJI. We are committed to ensuring a safe and compassionate environment that is equal, just, and fair. Science and discovery benefit from a diversity of talents, a diversity of approaches, and a diversity of perspectives. The La Jolla Institute’s Diversity, Equity, and Inclusion Initiative is designed to help us identify areas at the Institute that need improvement so we can together create an environment that is inclusive, provides equal opportunities, and opens doors that propel our research for human health.
La Jolla Institute is committed to compensation that is externally competitive and internally equitable. We validate this commitment by conducting regular market analyses to remain competitive with organizations of similar size in the nonprofit, independent research sector. Compensation decisions consider a variety of factors including experience, education, unique skill sets, organizational need, and internal equity.
Other details
- Job Function GA
- Pay Type Salary
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