Compliance Specialist - Office of Technology Transfer

The Pennsylvania State University; Ferguson Township (PA); On-site; USD 60,000 - 95,000; Full time

Benefits offered by this job

75% tuition discount

Competitive benefits package

Job summary

The Pennsylvania State University’s Office of Technology Transfer is seeking a Compliance Specialist to manage financial and compliance activities related to licensing agreements. This on-site role collaborates with the Office of General Counsel, Investment Management, and Sponsored Programs to ensure terms, royalties, and reporting are met.

Qualified candidates have a Bachelor's degree and 1+ years of relevant experience, strong communication, and proficiency with Excel/Word/Adobe.

Qualifications

• Bachelor's Degree with 3+ years of relevant experience.
• Bachelor's Degree with 1+ year of relevant experience.

Responsibilities

• Track and monitor a portfolio of 200+ license agreements.
• Coordinate with Technology Licensing Officers to ensure compliance with payments, reporting, milestones.
• Ensure that OTT’s database of finance and compliance information is accurate and up-to-date.
• Read license/option agreements to identify terms requiring monitoring for compliance.
• Communicate with TLOs, director/associate director, and licensees regarding compliance issues and terminations.
• Develop proficiency in using Wellspring-Sophia to track and report finance and compliance data.
• Generate reports on finance and compliance activity for the Director.
• Collaborate with the Associate Director and accounting staff to minimize accounts receivable.

Skills

Communication skills

Attention to detail

Interpersonal skills

Microsoft Excel

Teamwork

Education

Bachelor's Degree

Tools

Microsoft Excel

Microsoft Word

Adobe

Job description

POSITION SPECIFICS

The Office of Technology Transfer (OTT) is seeking candidates for the role of Compliance Specialist. This position supports the mission of the Office of Technology Transfer by being responsible for all financial and other compliance activities related to licensing agreements of Penn State technologies. Candidates must be US Citizens to apply. This position will be the filled at the Compliance Specialist - Intermediate Professional OR Advanced Professional level, based on the successful candidate's qualifications. The Compliance Specialist reports to the Associate Director of the Office of Technology Management and works closely with the Office of General Counsel, the Office of Investment Management, Accounting Operations, Research Accounting, and Office of Sponsored Programs to coordinate compliance-related activities.

Responsibilities include but are not limited to the following:

• Track and monitor a portfolio of 200+ license agreements and their associated compliance items.
• Coordinate with our Technology Licensing Officers (TLOs) to ensure companies are in compliance with agreement terms including:
  • Payments of royalties due and other financial obligations
  • Reporting obligations
  • Milestones and other performance obligations
• Ensure that OTT’s database of finance and compliance information is accurate and up-to-date.
• Read through license/option agreements to identify and summarize terms that require monitoring for compliance.
• Serve as a point person for communicating with TLOs, the director/associate director, and licensees regarding compliance issues, breach of agreement terms, terminating agreements, etc.
• Develop proficiency quickly in using our database (Wellspring-Sophia) to track and report on our finance and compliance data.
• Develop detailed reports on related finance and compliance activity for the Director.
• Work closely with the Associate Director and accounting staff to minimize accounts receivable.

Work Arrangement

This is a fully on-site position, based at Penn State's University Park campus.

Required Skills and Experience

Open communication and confidentiality regarding license/option agreements, financials, and related matters are essential to this role. Must be proactive, self-motivated, and a critical thinker who can work independently and collaboratively with a strong commitment to teamwork. Must possess excellent verbal and written communication skills, strong attention to detail and accuracy, outstanding interpersonal skills, and a demonstrated ability and willingness to learn. Proficiency in managing email systems, databases, and electronic data tools (e.g., Microsoft Excel, Word, and Adobe), as well as accounting experience.

MINIMUM EDUCATION, WORK EXPERIENCE & REQUIRED CERTIFICATIONS

Compliance Specialist - Advanced Professional

Bachelor's Degree 3+ years of relevant experience; or an equivalent combination of education and experience accepted. Required Certifications: None

Compliance Specialist - Intermediate Professional

Bachelor's Degree 1+ years of relevant experience; or an equivalent combination of education and experience accepted. Required Certifications: None

BACKGROUND CHECKS/CLEARANCES

Employment with the University will require successful completion of background check(s) in accordance with University policies. Penn State does not sponsor or take over sponsorship of a staff employment Visa. Applicants must be authorized to work in the U.S.

SALARY & BENEFITS

The salary range for this position, including all possible grades, is $59,580.00 - $94,980.00.

Salary Structure - Information on Penn State's salary structure

Penn State provides a competitive benefits package for full-time employees designed to support both personal and professional well-being. In addition to comprehensive medical, dental, and vision coverage, employees enjoy robust retirement plans and substantial paid time off which includes holidays, vacation and sick time. One of the standout benefits is the generous 75% tuition discount, available to employees as well as eligible spouses and children. For more detailed information, please visit our Benefits Page.

EEO IS THE LAW

Penn State is an equal opportunity employer and is committed to providing employment opportunities to all qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability or protected veteran status. If you are unable to use our online application process due to an impairment or disability, please contact 814-865-1473. Penn State is committed to and accountable for advancing equity, respect, and belonging. We embrace individual uniqueness, as well as a culture of belonging that supports equity initiatives, leverages the educational and institutional benefits of inclusion in society, and provides opportunities for engagement intended to help all members of the community thrive. We value belonging as a core strength and an essential element of the university’s teaching, research, and service mission.

Federal Contractors Labor Law Poster PA State Labor Law Poster Penn State Policies Copyright Information Hotlines There’s a reason Penn State consistently ranks among the top one percent of the world’s universities. Across 24 campuses, our 100,000 students and 40,000 faculty and staff know the real measure of success goes beyond the classroom – it’s the positive impact made on communities across the world. Our ideals stem from our origins as Pennsylvania’s sole land-grant institution, which allow us to continue to bring positive impact to humanity through our teaching, research, and engagement mission. And across the world is a community of Penn Staters – more than half a million strong – driven by that same spirit to serve our local and global communities. At Penn State, passion is met with collaboration in an environment that is rooted in shared pride for the accomplishments of our fellow students, faculty, staff, and alumni. Penn Staters cheer each other on to build a culture committed to service and engagement. Our University values represent our core ethical aspirations for all our daily activities and actions as students, faculty, staff, and volunteers at Penn State. Our values are as follows; Integrity, Respect, Responsibility, Discovery, Excellence, and Community. We Are Penn State. One Community. Impacting Many.