Controller

Virginia Information Technologies Agency•Richmond, VA

21h•Hybrid

About The Position

For more than three decades, the Virginia Lottery has worked to build a strong reputation, one synonymous with providing fun, entertaining experiences and doing so responsibly and with integrity. Proceeds from traditional Lottery games support K-12 public education in Virginia. Taxes generated by sports wagering and casino gaming, which are regulated by the Lottery, benefit other priorities of the Commonwealth. The Virginia Lottery, an independent state agency, is currently seeking a Controller to join its Finance and Administration Department. This position is located in Richmond, Virginia. The Lottery Controller will be responsible for managing reporting and comprehensive financial statements for enterprise/business operations as well as governmental/gaming regulatory operations. They ensure multi-fund consolidated financial reporting under various accounting directives. As an expert on financial accounting and reporting, the Lottery Controller is involved in internal controls, ARMICS coordination and certification, policy and procedure development, internal service delivery and training, financial accounting standards, and best management practices. They approve routine and non-routine accounting entries, manage monetary transfers, and authorize manual check payments. Acting as a liaison with State agency officials, including the Department of Accounts and Auditor of Public Accounts, the Lottery Controller also prepares executive briefings and presentations for the Lottery Board of Directors, executive management team, and elected officials. Additionally, they oversee monthly and fiscal year-end activities, ensuring schedules are completed and submitted promptly, including year-end cash flow monitoring and analysis. This role involves determining the need for requesting loans or draws from lines of credit from the State Treasurer and making year-end income projections. Finally, the Lottery Controller leads efforts in leveraging ERP functionality for increased efficiencies and controls. The Lottery Controller key duties: Managing the monthly and annual preparation and publication of all financial statements, in compliance with GAAP and GASB rules: • Coordinate and oversee the preparation of the Lottery's Annual Comprehensive Financial Report (ACFR) for inclusion in the statewide report. • Coordinate and oversee the preparation of the Lottery’s Popular Annual Financial Report (PAFR) for publication on the website. • Manage all audit activities with the Auditor of Public Accounts and maintain effective relationships. • Ensure the timely and accurate publication of monthly financial statements. • Oversee the preparation of the Lottery's monthly revenue page and summary for the Department of Accounts and the Department of Taxation, for inclusion in the Secretary of Finance report to the General Assembly money committees. Financial accounting and reporting, and ARMICS: • Serve as the agency expert on evaluating and implementing relevant accounting standards, ensuring that changes in accounting standards are effectively researched and implemented as necessary. • Determine the appropriate accounting and control standards for new initiatives. • Responsible for all ARMICS responsibilities according to guidance and directives issued by the State Comptroller (DOA), including certification and compliance activities. • Prepare and maintain documentation associated with the agency's accounting implementations, including explanations and records of the basis of accounting for all major activities. • Ensure staff receive adequate training and management to maintain continuity of operations and effective financial oversight for multi-billion-dollar operations. Regulatory: • Oversee the collection and reporting of taxes pertaining to gaming regulation (sports betting/casinos). • Ensure that collections are secure, accurately reported, accounted for, and distributed in accordance with regulatory statutes and regulations. • Responsible for the precise accounting and reporting of all related regulatory activities. General Accounting Operations: • Oversee financial planning and analysis efforts, providing guidance and insights to stakeholders. • Manage the effective operations of general accounting functions for the agency, including payroll, general ledger, budget, fixed assets, and accounts payable. • Maintain procedures documentation and ensure the effectiveness of financial controls. • Ensure the completion of key reconciliations, inventory actions, asset evaluations, and other control processes to secure and ensure reliability in the agency’s financial operations. • Oversee the timely transfer of lottery enterprise profits in accordance with the requirements of the Code of Virginia and the Appropriations Act, coordinating actions as necessary with DOA, DPB, and DOE. • Acts as the system owner of the Agency’s ERP system, leveraging its functionality for increased efficiency and internal control. Other duties may be required based on supplementary assignments. Note - This position requires in-office work three days per week including Tuesday and Wednesday

Requirements

Bachelor’s Degree in Accounting, Finance, Business, or other related field from an accredited 4-year college or university.
Thorough and demonstrated knowledge of generally accepted accounting principles, practices, and techniques.
Ability to plan, organize, and execute work through a combination of managing professional staff and personal execution.
Working knowledge of automated accounting systems, including complex general ledger structures with interfaced data systems.
Knowledge of auditing standards and expectations.
Demonstrated ability to establish and maintain effective working relationships with officials, subordinates, other employees, and the general public.
Proficiency in desktop applications such as, but not limited to, Microsoft Office, and integrated automated accounting systems.
Exceptional analytical and communication (oral and written) skills.
Demonstrated ability to maintain confidential information and render objective opinions and decisions on critical operational projects.
Experience in auditing or governmental financial statement preparation is required, with a preference for non-general fund governmental accounting experience.
Experience working with both internal and external auditors in an accounting environment.
A comparable amount of training and experience may be substituted for the minimum qualifications.

Nice To Haves

Experience in a progressively responsible management role, with management experience preferred.
Knowledge of Commonwealth of Virginia’s accounting principles and practice is a plus.
Knowledge of payroll, cash management, and Lottery industry is desired.
CPA or related certification strongly preferred.
Knowledge of control environment and promote new technology.
Ability to react and communicate effectively in all situations. Some areas of responsibility require quick, yet thorough analyses and decisions, while others require long-term research and detailed planning involving several other states.

Responsibilities

Managing the monthly and annual preparation and publication of all financial statements, in compliance with GAAP and GASB rules
Coordinate and oversee the preparation of the Lottery's Annual Comprehensive Financial Report (ACFR) for inclusion in the statewide report.
Coordinate and oversee the preparation of the Lottery’s Popular Annual Financial Report (PAFR) for publication on the website.
Manage all audit activities with the Auditor of Public Accounts and maintain effective relationships.
Ensure the timely and accurate publication of monthly financial statements.
Oversee the preparation of the Lottery's monthly revenue page and summary for the Department of Accounts and the Department of Taxation, for inclusion in the Secretary of Finance report to the General Assembly money committees.
Serve as the agency expert on evaluating and implementing relevant accounting standards, ensuring that changes in accounting standards are effectively researched and implemented as necessary.
Determine the appropriate accounting and control standards for new initiatives.
Responsible for all ARMICS responsibilities according to guidance and directives issued by the State Comptroller (DOA), including certification and compliance activities.
Prepare and maintain documentation associated with the agency's accounting implementations, including explanations and records of the basis of accounting for all major activities.
Ensure staff receive adequate training and management to maintain continuity of operations and effective financial oversight for multi-billion-dollar operations.
Oversee the collection and reporting of taxes pertaining to gaming regulation (sports betting/casinos).
Ensure that collections are secure, accurately reported, accounted for, and distributed in accordance with regulatory statutes and regulations.
Responsible for the precise accounting and reporting of all related regulatory activities.
Oversee financial planning and analysis efforts, providing guidance and insights to stakeholders.
Manage the effective operations of general accounting functions for the agency, including payroll, general ledger, budget, fixed assets, and accounts payable.
Maintain procedures documentation and ensure the effectiveness of financial controls.
Ensure the completion of key reconciliations, inventory actions, asset evaluations, and other control processes to secure and ensure reliability in the agency’s financial operations.
Oversee the timely transfer of lottery enterprise profits in accordance with the requirements of the Code of Virginia and the Appropriations Act, coordinating actions as necessary with DOA, DPB, and DOE.
Acts as the system owner of the Agency’s ERP system, leveraging its functionality for increased efficiency and internal control.
Other duties may be required based on supplementary assignments.