Executive Director of Finance and Budget
The purpose of this position is to supervise and have oversight over the financial accounting and administrative functions of the Division of University Relations – Office of Financial Management (OFM) / University of Maryland College Park Foundation (UMCPF) and its related entities.
The position will also work with the AVP / VP, CFO & Treasurer on the annual budget process and budget oversight for the Division of University Relations. The position will report to the AVP / VP, CFO & Treasurer. The position is expected to act on behalf of the AVP / VP, CFO & Treasurer when he/she is absent.
The position will be responsible for ensuring that the UMCPF financial management system maintains accurate records and data to facilitate the generation of all required financial and tax compliance reports required by the UMCPF by-laws, the USM Board of Regents, and all federal and state regulatory bodies.
The position oversees the financial managers and staff that maintain the financial system and the position ensures that all accounts are reconciled monthly, properly maintained for accounting and fiduciary purposes, and provide for prompt and accurate internal and external reporting. The position will supervise and have oversight over the staff assigned to and daily operations of: Treasury Management, Investment Management, Accounts Payable, Accounts Receivables and Endowment Accounting. The position also oversees the activities of third party-contractors and real estate management companies that work on behalf of the UMCPF.
This position oversees the recording of transactions in the general ledger and monthly account reconciliations to facilitate the accurate and timely generation of internal and external financial reporting for the Board of Trustees, management, fund holders, auditors, and regulatory bodies. The position is responsible for maintenance of the chart of accounts, establishment of new and suspension of outdated/unused accounts, structure of the general ledger and reporting formats, opening and closing of fiscal periods, and management of updates to the financial management system. The position is also expected to regularly evaluate business systems and processes and make recommendations to the AVP / VP, CFO & Treasurer to change, update, eliminate or replace these systems.
The position approves journal entries generated by other functional areas within Foundation Finance, except for entries generated by the AVP / VP, CFO & Treasurer. The AVP / VP, CFO & Treasurer will be the approver of all journal entries generated by this position. The position will review all new account agreements, updates to account agreements, Memorandums of Understanding for endowments, Letters of Agreement for operating funds, contracts for services, and grant proposals. The position will also be responsible for all grant reporting and adherence to grant requirements and grantor guidelines.
The position is responsible for preparing all of the financial statements and notes to the financial statements for the annual audited financial statement report, overseeing the preparation of the annual IRS Form 990, as well as all supporting schedules for the UMCP Foundation and all related entities.