Senior Director Foundation Financial Operations

UCM • UCMO - Warrensburg, MO

1d • Onsite

About The Position

This position will provide strategic leadership, management, and planning for all areas of finance to include: investment planning, audit oversight and management, gift accounting and processing, fiscal operations, budgeting and forecasting, general and fund accounting, reporting and analysis, Foundation scholarship management, policy development, internal controls and support services related UCM Alumni Foundation and University Advancement financial matters. Help facilitate the Alumni Foundation's growth by providing support and counsel on strategic and operational issues and needs related to financial operations and investments. Perform analyses and support executive decision-making through data-driven reports and presentations on financial resources, cash flows, return on investment, and progress toward goals. Create and manage division budget and establish operational metrics that measure productivity. Ensure financial management processes are in place to support the ongoing and future needs of the Alumni Foundation. Manage the timely and accurate processing of philanthropic gifts and pledges as well as campaign and donor reporting, while continuously improving policies and procedures to facilitate compliance and information exchange. Serve as the first "clearinghouse" for gift acceptance, ensuring that gift-acceptance policies and agreements reflect compliance and best practices and are vetted by appropriate executive and financial leadership. Create and maintain fiscal policies and procedures to not only protect Alumni Foundation and University assets and the privacy of our constituents but also to ensure that there is continuity of services provided in the event of extended absences of personnel. Ensure good accounting practices with Alumni Foundation systems and University accounting software. Collaborate with campus partners to ensure funds are used in a timely and appropriate manner to fulfill donor intent. The Senior Director of Foundation Financial Operations is the key staff liaison for the Alumni Foundation Board of Directors Finance, Audit and Investment committees. The position is also an important partner to campus finance departments regarding management of Foundation funds.

Requirements

• Bachelor’s degree in accounting, finance, business administration or related field required.
• Five (5) years or more experience in accounting and/or finance required.
• Experience in non-profit accounting preferred.
• Experience in higher education/fund accounting preferred.
• Experience with FASB accounting standards preferred.
• Experience with IRS forms 990/990-T and IRS guidelines preferred.
• Experience with Charitable Remainder Annuity Trusts and Charitable Gift Annuities preferred.
• Experience in insurance and trusts preferred.
• Experience with endowment accounting and unitized investment pools preferred.
• Experience with CASE reporting standards preferred.
• Must meet bonding requirements.
• Credit check required.

Responsibilities

• Oversee all financial transactions and processes and acts as final authoritative council on accounting, budgeting, cash flow management, gift receipting, and investments for the Alumni Foundation.
• Perform trend analysis to assist in developing specific event, annual, and/or campaign fundraising goals.
• Implement and maintain internal controls to safeguard the Alumni Foundation's assets and mitigate financial risks.
• Monitor the organization’s financial performance against budget and operational goals and provide regular reports to the Board of Directors.
• Collaborate with the executive leadership team to identify opportunities for financial growth and sustainability and recommend strategic directions that will improve efficiency and productivity.
• Create, maintain, and ensure compliance with all internal and external fiscal policies and procedures.
• Communicate Alumni Foundation policies and procedures for compliance with IRS regulations, CASE reporting standards, accounting procedures, and dual control standards to staff and internal university constituents.
• Responsible for planning for, partnering with outside CPA firm and coordinating the delivery of the Alumni Foundation’s annual audit, year-end accounting and IRS returns(990, 990-T, Split Interest Trust Returns).
• Maintain professional knowledge of and interpret accounting guidelines relating to FASB, UPMIFA, applicable IRS regulations, and CASE standards as needed.
• Attend continuing education seminars/webinars and review professional publications to keep updated on not-for-profit accounting related issues.
• Hire, train, manage and evaluate a high performing finance team, fostering a culture of excellence, collaboration, and continuous improvement.
• Provide mentorship and professional development opportunities to finance team members.
• Foster strong relationships with internal and external stakeholders, including board members, donors, and campus partners by answering questions on specific funds and providing financial data.
• Work with campus partners to ensure that funds do not exceed budget and if that does occur, determine appropriate resolution.
• Communicate to campus partners of an overview of Foundation funds, endowment, processes, annual payout and budgets.
• Responsible for overall fiscal administration of 1,600+ different Alumni Foundation funds to include; review and setting up new funds, calculating and loading annual payout budget and increasing individual fund budget for new gifts received.
• Accepts gift feeds from Alumni Foundation System to University’s ERP System, resolve posting errors and agrees gift feeds amounts with deposits at bank.
• Approve all payment requests, interdepartmental transfers, procurement requisitions, and credit card usage of all Foundation funds while ensuring funds are being expended per donor restrictions.
• Identify Alumni Foundation funding sources to meet the strategic needs of the University and its students.
• Approve the monthly reimbursement to the University for Alumni Foundation expenses.
• Review and approve all travel and non-travel expenditures of Alumni Foundation staff to ensure compliance with University & Alumni Foundation policies, as well as ensure coding to the proper budget is accurate.
• Direct and manage entry of all gifts and pledges to maintain data integrity and ensure compliance with all laws, regulations, and reporting standards by also coordinating procedures for new gift revenue sources and systems.
• Manage fundraising event revenue and expenses to ensure compliance with IRS regulations, proper donor receipt, and accurate distribution of net proceeds.
• Coordinate estate distributions by communicating with attorneys to obtain documentation and provide Alumni Foundation information as needed.
• Oversee the management of the multi-state registration process required for non-profits to ensure compliance.
• Manage liability insurance; both application for additional coverage and renewal of existing.
• Understand and utilize the enterprise relationship software system to effective and efficient financial management, gift processing, and data analysis.
• Grant final approval of all journal entries and budget amendments in accounting software to the general ledger.
• Manage and document pledges in each system as appropriate.
• Monitor balances for payments and direct adjustments to be made, as needed.
• Review in-kind gift forms for equipment and historical collections that may need to be included in University’s inventory system.
• Monitor cash balances in checking and investment accounts, approve the monthly reconciliation of the operating checking account and direct transfers between accounts, as needed.
• Serve as the Administrator of the electronic bank deposit software to process all checks received.
• Direct the budget planning process for the Alumni Foundation, University Advancement, University Alumni Engagement & Events, Quarterly Publications, and Emeriti Association and allocate resources to budgets based on spending needs for the fiscal year.
• Create Alumni Foundation annual budget to be approved by the Board of Directors.
• Develops financial forecasts in alignment with organizational strategy to provide insight into the operations and business plans.
• Directs the implementation of any new fee policies and manages the existing fee structure(s) to ensure fees are applied appropriately to investment assets.
• Responsible for Chart C and Chart F financial management, coordinating between both to ensure accurate reporting, working closely with University Financial staff.
• Meet with University’s Budget Executive Director regularly for review, reconciliation, oversight and compliance.
• Monitor Alumni Foundation budgets, track ROI and report budget concerns to the executive leadership team.
• Oversee and approve the internal budget processes to create, manage, track and report budget to leadership and staff.
• Manage the investment portfolio in collaboration with the Investment Committee and the outsourced chief investment officer (OCIO).
• Provide short and long-term financial and cash flow analysis to maximize productivity and return on investments.
• Monitor, review and oversee the reconciliation of the investment accounts and communicate with investment portfolio managers regarding related questions and transfers between accounts.
• Review the calculated investment income and accrued earnings and approve the adjusting entries to accounting software.
• Maintain and update unitized investment pools for funds functioning as endowments, charitable reminder annuity trusts, and charitable gift annuities.
• Allocate monthly earning for Trusts, CGA’s and capitalized funds.
• Calculate and propose the annual investment payout to the Alumni Foundation Board of Directors, in coordination with the Finance Committee.
• Review, analyze and verify Alumni Foundation assets, liability, net assets, revenue and expense balances.
• Resolve discrepancies, as necessary.
• Serve as the co-administrator of UCM Scholarship Finder (scholarship awarding software program) and oversee the management all Foundation scholarship awarding to eligible students.
• Approve critical information distributed to scholarship committees about deadlines, policies and procedures associated with scholarship distribution.
• Monitor funds and fund agreements to ensure that scholarships are awarded using the criteria agreed upon by donor and the Alumni Foundation.
• Oversee the management of the Foundation scholarship donor thank you process and distribution.
• Oversee the management of the Endowment Report for all donors distributed annually.
• Ensure reporting is timely, consistent, and accurate while demonstrating use, impact and financial management of gifts.
• Collaborate with Alumni Foundation staff, campus partners, and/or donors to review and approve all agreements to establish new Foundation funds and/or endowments or make amendments to existing funds and/or endowments.
• Approve and oversee the logistical process to create new funds, amend existing funds, or close old funds in the enterprise relationship software system, accounting system and all related files (both electronic and hard chart files).
• Create and maintain all records related to capital projects (bricks & mortar) supported by gifts from donors.
• Manage reimbursement to the University and monitor outstanding balances owed for ongoing costs for capital projects through completion.
• Advise on the periodical audit of the named scholarship files to ensure compliance that the donor intent is still applicable to the program and/or purpose. Audits will include review for compliance with UCM Board of Governors policies, Alumni Foundation policies, and all related federal and state laws.
• Answer questions from internal and external constituents regarding specific foundation funds restrictions to ensure appropriate spending per donor intent and compliance with the Alumni Foundation Spending Policy.
• Manage the documented Planned Giving files (both electronic and hard chart files), including life insurance policies that designate the Alumni Foundation as the beneficiary.
• Oversee the management of the Opportunity Grant program including advertising, collecting applications, submission to the review committee, notification of selections, periodic reports, and all financial records & reimbursements.
• Oversee the management of External Grant submissions and ensure annual reporting is completed in a timely and accurate manner to ensure compliance with grant stipulations and renewals.
• Perform trend analysis to assist in developing fundraising goals.
• Assess the organization’s performance against budget, financial, and operational goals.
• Provide short and long-term financial and cash flow analysis to maximize productivity and return on investment.
• Create financial modeling and analysis to define and support long term strategic initiatives.
• Create a variety of reporting tools that provide information on endowments, split interest funds, fundraising, and financial performance for the Executive Director and the Alumni Foundation Board of Directors.
• Oversee the preparation of Alumni Foundation financial statements monthly or as needed for distribution to University and Alumni Foundation leaders.
• Prepare and submit survey data for industry benchmarking as needed.
• Provide financial data for the Annual Endowment Report.
• Staff the Audit committee, Finance committee, and Investment committee by working directly with the committee chair to prepare meeting agendas and providing supporting materials for committee meetings and work sessions.
• Present at committee and board meetings.
• Foster strong relationships with board members.
• Research and provide information as requested.
• Inform colleagues of discoveries that will feed the annual giving, major giving and planned giving pipelines.
• Assist with office initiatives, as needed.

Benefits

• competitive salary
• health, dental, vision, life insurance, AD & D, long-term disability
• 3 weeks paid vacation per year
• 3 weeks of accrued sick leave per year
• 13 paid holidays
• retirement
• generous education assistance for an employee, spouse and dependent children taking classes at UCM

What This Job Offers

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