Manager of Financial Reporting

Drexel University; Philadelphia (Philadelphia County); Remote; USD 75,000 - 113,000; Full time

Job summary

An established industry player in higher education seeks a Financial Reporting Manager to oversee the preparation and analysis of consolidated financial statements. This role is pivotal in ensuring accuracy and compliance with departmental procedures. The manager will collaborate closely with various finance offices, assist in audits, and develop financial reporting procedures. With a commitment to equity and inclusion, this position offers a dynamic work environment where you can make a significant impact on the university's financial integrity. If you possess strong analytical and communication skills, this opportunity is perfect for you.

Benefits

Generous vacation and paid time off

Up to 11% 403(b) Retirement Plan match

Remote and flexible work options

Free tuition for employees and dependents

Comprehensive medical plans

Fertility assistance

Award-winning wellness program

Qualifications

• Master's degree in Business or Accounting required.
• 1-2 years of experience in financial statement preparation.

Responsibilities

• Prepare and analyze monthly consolidated financial statements.
• Assist in annual audits and tax filings for the university.

Skills

Financial Statement Preparation

Communication Skills

GAAP Knowledge

Analytical Skills

Technical Reporting

Education

Master's Degree in Business, Accounting, or Finance

Tools

Hyperion

Banner ERP

Oracle OAS

Microsoft Excel

SQL

Job description

Located in the heart of Philadelphia, Drexel University is a world‐class, comprehensive, R1 research institution and a global leader in experiential education. For more than 100 years, our renowned Cooperative Education (co-op) program has enabled students to gain professional work experience before they graduate, setting them apart from their peers.

Committed to becoming the nation’s most civically engaged university, Drexel supports engagement along three dimensions: research and academic programs that directly benefit communities, business practices that support equitable local and regional economic development, and public service by students, faculty, and staff. Our engagement is long‐term, multigenerational, and fundamental to the University’s mission, heritage, and future.

At Drexel, we are devoted to fostering an inclusive and welcoming environment that promotes healthy lifestyles and is based on integrity, trust, and respect. We center equity, inclusion and belonging, and incorporate an anti‐racism approach to our strategic plan, organizational systems, policies and structures.

Drexel offers its highly engaged faculty and professional staff a comprehensive and world‐class benefits package that includes generous vacation and paid time off as applicable (including civic engagement days), up to an 11% 403(b) Retirement Plan match with immediate vesting, and remote and flexible work options for many roles. Our exceptional medical plans include domestic partner and fertility assistance and our award‐winning A Healthier U wellness program. In addition, faculty and professional staff at Drexel enjoy free tuition for themselves and their dependents for Drexel degree programs, certification, and non‐certification programs. And as part of the tuition offering to employees, Drexel participates in a tuition exchange program for dependents with other higher education institutions. These are just a sample of our extensive benefit offerings.

Manager of Financial Reporting

Apply now Job no: 504133
Work type: Full-Time
Location: Remote
Categories: Finance and Administration, Drexel University

Job Summary

The Financial Reporting Manager is responsible for the preparation and analysis of the monthly consolidated financial statements for Drexel University and its subsidiaries. The position is responsible for the stand-alone financial statements for special purpose entities (11th Street Family Health Services, 1200 Chestnut St, 3509 Spring Garden Entities etc.). The incumbent works directly for and with the Executive Director to ensure that the financial statements are accurate and completed in accordance with departmental procedures. The position assists with the monthly analysis of monthly variances and assists in drafting detailed narratives. The position is responsible for the creation of new chart of account elements known as FOAPALs for all entities of the University utilizing the Banner ERP system. The position assists in the planning and completion of annual audits for Drexel University its subsidiaries, (including employee benefit audits, NCAA audit) and assistance with tax filings (IRS Form 990 and 990-T, and required surveys (IPEDS, PA State Appropriation). The Financial Reporting Manager utilizes Hyperion’s Brio Query Explorer or Open Automation Software (OAS) tools to generate the data that supports the financial statements. The position liaises with the various roles in the finance offices, particularly General Accounting and Budget and Planning Offices, to ensure continuous communication and ensure that topside entries are recorded in the appropriate period.

Essential Functions

• The Financial Reporting Manager is responsible for reviewing the documentation associated with creating a FOAPAL element in the Chart of Accounts. The position also establishes the appropriate finance security and liaises with Procurement Services on establishing role in Procurement System, and IT to set up Oracle IDs and WebFinance access. The position develops sound procedures for reviewing and establishment of elements of the chart and ensures that they are in line with the definitions tied to these elements to ensure accurate and versatile financial reporting. The incumbent asks appropriate questions related to submissions and sets up new chart elements within three business days of receipt.
• Works closely with the General Accounting and Budget and Planning Offices to ensure that operational issues are addressed that impact the financial statements.
• Responsible for preparing the monthly financial statements for the University in accordance with departmental procedures and assisting with the preparation of the financial statement variance analysis narrative.
• Assists in the preparation of the audited financial statements for Drexel Consolidated, special purpose entities, employee benefit plans, and NCAA reports. Develops and manages audits for the 11th Street Family Health Services, 3509 Spring Garden Street entities and 1200 Chestnut Street entities.
• Acts as the primary contact for the financial statements related to the special purpose entities. Takes a leadership role in reviewing monthly entries prepared by General Accounting for these entities and develops quarterly financial statements in accordance with agreements.
• Provides schedules required for various entities for Form 990 and 990-T reporting.
• Assists in the development and evaluation of complex transaction white papers and ensure that financial statements accurately report agreed upon amounts.
• Participates on various committees (RCM, Chart of Accounts) as required to ensure the proper accounting insights.
• Develops and manages external relationships with internal and external contacts at varied levels.
• Assists in developing accounting procedures to address highly complex issues with cross-functional or budget unit impact.
• Provides information on budgets and expenditures to departmental administrators and assists them in making informed financial decisions.
• Recommends and implements policies and procedures to improve customer service, ensure internal controls and streamline operations.
• Coordinates and assists with all year-end financial audits and ensures completion by defined deadlines.
• Keeps up to date with and insures the operation of university-wide best practices and internal controls.

Required Qualifications

• Master's degree in Business or Accounting or Finance or the equivalent combination of education and work experience.
• 1-2 years of experience in preparing consolidated financial statements.

Preferred Qualifications

• 5 years of experience in preparing consolidated financial statements for a higher education institution.
• Knowledge of GAAP
• Excellent written and verbal communication skills
• Experience using Hyperion, Banner ERP or Oracle OAS
• Advanced knowledge of Word, PowerPoint, Excel and Access
• Knowledge of SQL and Oracle databases
• CPA preferred with experience in a non-profit environment, most of which have been with a College or University.
• Excellent technical and financial reporting abilities are vital.
• Strong communication skills are needed to interact successfully with faculty, staff and students.

Physical Requirements

• Typically sitting at a desk/table

Location

• Remote

Additional Information

This position is classified as exempt, grade M. Compensation for this grade ranges from $75,200 to $112,790 per year. Please note that the offered rate for this position typically aligns with the minimum to midrange of this grade, but it can vary based on the successful candidate’s qualifications and experience, department budget, and an internal equity review.

Please make sure you upload your CV/resume and cover letter when submitting your application.

A review of applicants will begin once a suitable candidate pool is identified.

Advertised: Dec 17 2024 Eastern Standard Time
Applications close: Jan 17 2025 Eastern Standard Time

Drexel University is an Equal Opportunity/Affirmative Action employer that welcomes individuals from diverse and neurodiverse backgrounds and perspectives, and believes that an inclusive and respectful environment enriches the University community and the educational and employment experience of its members. The University prohibits discrimination against individuals on the basis of race, color, national origin, religion, sex, sexual orientation, disability, age, status as a veteran or special disabled veteran, gender identity or expression, genetic information, pregnancy, childbirth or related medical conditions and any other prohibited characteristic.