The Director of Budget & Accounting has a dual role with responsibility for both Budgets/Forecasts and Accounting. The Director provides oversight and serves as the subject matter expert for the budget creation, monitoring and forecasting processes, and for accounting matters. The successful candidate will develop, implement, and maintain College-wide budgetary and accounting policies, processes and procedures and ensure that all systems and procedures are in compliance with federal and state accounting regulations, requirements and standards. The Director represents Olin in certain Boston Consortium communities of practice, such as Budget and Controller. The Director of Budget & Accounting manages one direct report (a Senior Accountant) and reports to the Vice President for Financial Affairs and Chief Financial Officer (VPFA/CFO).
Budget Responsibilities (estimated to be approximately 60% of time):
Oversees the annual budget development and quarterly budget forecasting processes. This involves working collaboratively with Budget Managers throughout the College to establish and manage the annual budget and quarterly forecasts. Monitors adherence to Board approved budgets. Maintains College-wide Operating Budget, Capital Budget, and Cash Budget.
Identifies and analyzes various financial and budgetary issues, evaluates budget requests, makes budget recommendations to the VPFA/CFO and delivers comprehensive financial analyses to support strategic and financial planning efforts
Trains and directly assists divisional Budget Managers on budgetary compliance and budgetary procedures
Develops and maintains budgeting policies and procedures for use throughout the College
Prepares materials and analyses for the Trustee Finance and Facilities Committee. May be asked to attend meetings as well.
Accounting Responsibilities (estimated to be approximately 40% of time):
Oversees the General Accounting function of the college, including review of all monthly, quarterly, and year-end journal entries, reconciliations, and financial reports prepared by staff
Oversees and coordinates the annual financial statement and 403(b) audits
Oversees the preparation of all federal and state tax returns (e.g., 990, 990-T, Form PC, etc.) and related tax compliance. Coordinates with external audit firm to review tax returns. Serves as the College’s primary liaison with the tax review professionals.
Works collaboratively with the Manager of Financial Operations to continually evaluate the control environment, and develop, maintain, improve, and document strong internal controls
Works collaboratively with the staff in other areas such as Sponsored Programs and Development, to ensure grant and gift activity is properly reflected in the financial statements
Stays up-to-date on the latest accounting and tax rules and regulations, and ensures proper implementation of rules and regulations that apply to the College, including private use of bond-financed facilities. Addresses any tax issues that arise with the IRS or state or local taxing authorities.
Develops and maintains accounting policies and procedures for use throughout the College.
Supervises Senior Accountant. Manage his/her professional development/training.
May be asked to attend meetings of and/or prepare materials for Trustee committees including Audit and Investment
Work collaboratively with the VPFA/CFO and the Manager of Financial Operations to oversee all financial systems and coordinate any new financial system implementations and upgrades to existing systems.
Other duties as assigned
This position requires skills typically acquired through receiving a bachelor’s degree and 7-10 years of related accounting and budget experience, but other combinations of education and skill will be considered. Master's degree in business administration (MBA) or certified public accountant (CPA) a plus.
Must have strong strategic and analytical ability, including experience in budget development, cost accounting, cost/benefit analysis, financial applications, and accounting systems
Must be able to work with limited direction, make decisions and/or recommendations to leadership
Must have supervisory experience
Must have higher education or other large not-for-profit work experience
Must have good working knowledge of GAAP in a not-for-profit environment
Must have excellent interpersonal, communication, analytical and organizational skills
Must be able to effectively communicate both orally and in writing with all levels of employees, supervisors, management, and outside contacts.
Must have intermediate or advanced Excel skills. Experience dissecting and analyzing large data sets and Microsoft Access skills are a plus.
Must have ability to maintain confidentiality of sensitive data and materials
Experience with Jenzabar ERP system a plus
Additional Salary Information: Olin’s hiring salary will typically start in the entry point to mid point of the range. The starting salary will vary based on the candidate’s relevant experience, skills and education.
Olin College is an Equal Opportunity Employer.
Non-discrimination/Affirmative Action Statement
In accordance with its own values and with federal and state regulations, Franklin W. Olin College of Engineering does not discriminate in admission, programs, services or employment—including the recruitment, hiring, training and promotion of persons in all job classifications—on the basis of race, color, religion, gender, national origin, sexual orientation, age, physical or mental disability, or veteran status.
About Olin College of Engineering
Olin College in Needham, MA is a community of faculty, staff, and students dedicated to its mission to transform engineering education. From its inception, Olin College has sought a team of employees committed to its mission with a desire to contribute to Olin’s innovative environment. We seek team-oriented individuals interested in supporting a student-centered and innovative environment by excelling at their own immediate responsibilities and contributing to the college as a whole.