Executive Director of Finance and Budget
Reporting to the AVP for Finance & Operations, the Executive Director of Finance and Budget is responsible for the day-to-day oversight and management of the division’s finance office, which includes responsibility for finance and accounting functions in support of the University of Maryland College Park Foundation (UMCPF). This individual will supervise staff to ensure that all transactions are accurately recorded in the general ledger, accounts are reconciled monthly and properly maintained for accounting and fiduciary purposes, and provide prompt and accurate internal and external financial reporting.
Duties include working with the AVP on the annual budget process for the division; overseeing the audit process; preparing the financial statements and notes for the annual audit report; overseeing the preparation of the annual IRS Form 990, as well as all supporting schedules; grant reporting and adherence to grant requirements and grantor guidelines; reviewing and approving account agreements, gift agreements for endowments and operating funds, contracts for services, and grant proposals; opening and closing of fiscal periods; and managing updates to the financial management system.
The Executive Director will also 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 incumbent in this position is required to file an annual Financial Disclosure Form with the State of Maryland Ethics Commission.
Education (include licenses, certifications, etc.):
Bachelor’s Degree required, preferably in accounting, finance, business or related field.
At least 10 years of professional accounting and finance experience, including at least 5 years of supervisory experience.
Prior general ledger experience required in a non-profit organization with major and direct responsibilities for the maintenance of the general ledger, generation of GAAP based financial statements, and financial statement audits.
Experience working with senior leadership and Board members.
Experience preparing IRS Form 990.
Knowledge, Skills, and Abilities:
Knowledge of Fund Accounting, GAAP, GASB and FASB standards, financial reporting requirements for non-profit organizations, internal control standards and procedures, and fiduciary responsibility of Foundation officials.
Direct knowledge of FAS 116, 117, 124 and related accounting standards, knowledge and experience in tax and regulatory issues for non-profit organizations.
Familiarity with the operations of large non-profits and/or higher education institutions.