Compliance Specialist - Office of Technology Transfer

Penn State University • University Park, IL

1d • $59,580 - $94,980 • Onsite

About The Position

The Office of Technology Transfer (OTT) is seeking candidates for the role of Compliance Specialist. This position supports the mission of the Office of Technology Transfer by being responsible for all financial and other compliance activities related to licensing agreements of Penn State technologies. Candidates must be US Citizens to apply. This position will be the filled at the Compliance Specialist - Intermediate Professional OR Advanced Professional level, based on the successful candidate's qualifications. The Compliance Specialist reports to the Associate Director of the Office of Technology Management and works closely with the Office of General Counsel, the Office of Investment Management, Accounting Operations, Research Accounting, and Office of Sponsored Programs to coordinate compliance-related activities.

Requirements

• Open communication and confidentiality regarding license/option agreements, financials, and related matters are essential to this role.
• Must be proactive, self-motivated, and a critical thinker who can work independently and collaboratively with a strong commitment to teamwork.
• Must possess excellent verbal and written communication skills, strong attention to detail and accuracy, outstanding interpersonal skills, and a demonstrated ability and willingness to learn.
• Proficiency in managing email systems, databases, and electronic data tools (e.g., Microsoft Excel, Word, and Adobe), as well as accounting experience.
• Bachelor's Degree
• US Citizens to apply.
• If filled as Compliance Specialist - Advanced Professional, this position requires: 3+ years of relevant experience; or an equivalent combination of education and experience accepted
• If filled as Compliance Specialist - Intermediate Professional, this position requires: 1+ years of relevant experience; or an equivalent combination of education and experience accepted

Responsibilities

• Track and monitor a portfolio of 200+ license agreements and their associated compliance items.
• Coordinate with our Technology Licensing Officers (TLOs) to ensure companies are in compliance with agreement terms including: Payments of royalties due and other financial obligations, Reporting obligations, Milestones and other performance obligations.
• Ensure that OTT’s database of finance and compliance information is accurate and up-to-date.
• Read through license/option agreements to identify and summarize terms that require monitoring for compliance.
• Serve as a point person for communicating with TLOs, the director/associate director, and licensees regarding compliance issues, breach of agreement terms, terminating agreements, etc.
• Develop proficiency quickly in using our database (Wellspring-Sophia) to track and report on our finance and compliance data.
• Develop detailed reports on related finance and compliance activity for the Director.
• Work closely with the Associate Director and accounting staff to minimize accounts receivable.

Benefits

• comprehensive medical, dental, and vision coverage
• robust retirement plans
• substantial paid time off which includes holidays, vacation and sick time
• 75% tuition discount, available to employees as well as eligible spouses and children

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level