Senior Accountant - Contracts and Grants Accounting
The National Academy of Sciences, National Academy of Engineering, and National Academy of Medicine work together as the National Academies of Sciences, Engineering, and Medicine to provide independent, objective analysis and advice to the nation and conduct other activities to solve complex problems and inform public policy decisions. The National Academies also encourage education and research, recognize outstanding contributions to knowledge, and increase public understanding in matters of science, engineering, and medicine.
The Office of the Chief Financial Officer (OCFO) is responsible for all financial aspects of The National Academies of Sciences, Engineering, and Medicine (The National Academies), including Accounting, Budget, Contracts and Grants Accounting, Contracts and Grants Management, Procurement, and Financial Analysis and Reporting.
Prepares various complex accounting statements, reports and transactions. Analyzes financial reports and records, making studies or recommendations relative to the accounting of reserves, assets and expenditures. Reviews and verifies the accuracy of journal entries and accounting classifications assigned to various records. Conducts special studies and develops or recommends accounting methods and procedures. Coordinates accounting matters with internal staff and external customers. Areas of activity may include accounts receivable, accounts payable, cash receipts, payroll, general ledger entries, financial report preparation and reconciliation, bank statements, treasury, contracts and grants, budget reporting, and tax statement reporting. May perform investment accounting duties.
Under general supervision, incumbent applies specific and professional-level knowledge to perform responsibilities requiring the identification and analysis of complex factors to determine best course of action. Uses independent judgment and discretion, but may receive guidance or expertise from supervisor or higher- level staff on more complex problems. Establishes processes and/or procedures to ensure the effective and efficient operation of assigned functions. May be a specialist in one or more areas of accounting. Serves as a resource and may provide work leadership to junior staff. .
ESSENTIAL JOB DUTIES:
1. Reviews, prepares, and guides the monthly reconciliation of balance sheet accounts such as but not limited to cash, prepaid expenses, fixed assets, accounts payable, bond, and other liabilities to ensure accuracy for financial statement users.
2. Performs review, analysis, and reconciliation of accounts and cost centers. Identifies potential problems or areas for improvement and provide solutions. Oversees processing of month-end statements, ensuring the generation of timely and accurate financial statements.
3. Prepares complex financial reports and accounting statements. Ensures the integrity of accounting records for completeness, accuracy and compliance with accepted accounting policies and principles. These reports may include complex financial reports, recommendations, journal entries and supporting documentation within functional accounting areas assigned.
4. Manages and reviews budget analysis, periodic expenditures, and cost projections. Sets up and maintains accounting and fiscal control records.
5. Researches and responds to internal and external inquiries. Maintains direct communications with sponsors and internal customers including program financial management staff regarding various expenses for billing and financial reporting purposes. Supports external and internal customers through ad-hoc data collecting, reporting, analysis and special projects.
6. Processes departmental financial transactions.
7. Creates and maintains documentation on processes and procedures related to account maintenance.
8. Recommends and supports implementation of ideas and innovations to improve upon existing systems, work processes and procedures affecting the monthly and quarterly financial close.
9. Provides technical accounting advice within area of expertise to functional or operational areas managers to help them develop revenue and expense budgets, understand financial reports, and manage their financial responsibilities.
10. Supports special projects such as year-end closing and financial statement audit, quarterly financial statements presented to our bond holders, and may participate in the most complex general accounting projects.
11. May review, approve, and post journal entries as well as wire transfers, for accuracy and compliance with company policies and applicable accounting regulations.
12. May coordinate activities involving “preliminary”, “cash basis”, and “accrual basis” closes, including preparing un-audited financial statements.
13. May provide work leadership for staff accountants and/or accounting assistants. Coaches less experienced accounting staff and helps them resolve problems.
14. Maintains an appropriate standard of confidentiality. When handling secure, privileged, sensitive, or confidential information and matters, maintains strict confidence and exercises care to prevent disclosure to others. Accesses confidential information for work-related reasons only following the policies and procedures of the organization. Ensures that any privileged, sensitive, or confidential information is securely stored, disposed of, and transmitted according to the Institutional guidance.
Other Specific Duties in Investment Accounting:
1. Prepares monthly statements, journal entries, and summary reports concerning the investment results and current market value of the investment pool.
2. Implements accounting policies and procedures that are specific to the investment pool.
3. Works with supervisor to take full advantage of automation and best practices in accounting for investment activity.
4. Reconciles and monitors all cost centers in the General Ledger that are part of the investment pool.
5. Prepares investment schedules for inclusion in monthly management reports, the agenda book for the Finance Committee quarterly meetings, and the annual Treasurer’s Report.
6. Develops and implements tools that facilitate effective monthly reporting to the investment participants on the market values and amount available to be spent from the Endowment.
7. Calculates and tracks the ownership units for each participant in the pool. Works with an Access database to track the investment pool performance.
8. Creates efficient and effective upload files for posting to the General Ledger. Ensures that the General Ledger accurately reflects each participant’s investment balance. Ensures that current accounting procedures are up-to-date and properly documented.
Required Knowledge, Skills, and Abilities: Comprehensive knowledge of generally accepted accounting principles. Ability to make daily decisions concerning the accounting treatment of financial transactions and recommends solutions to complex accounting problems. Ability to apply advanced mathematical concepts and accounting procedures. Strong analytical, problem solving, and presentation skills. Proficiency in MSOffice. Ability to manage and maintain privileged, sensitive, and confidential information and matters appropriately. Must be reliable. Strong work ethic. Ability to manage multiple priorities and deadlines. Ability to be pro-active and follow up. Strong attention to detail and highly organized . Ability to operate with substantial latitude for independent judgment and action. Supervisory skills may be required. Experience working in complex environments with a high degree of organizational effectiveness. Ability to work successfully in a team environment. Ability to develop relationships with co-workers and employees in other National Academies’ departments through effective communication. Excellent communication skills with a proven ability to effectively interact with all levels of employees.
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