JOB TITLE
Assistant/Associate Controller
LOCATION
Worcester
DEPARTMENT NAME
Controller's Office
DIVISION NAME
Worcester Polytechnic Institute - WPI
JOB DESCRIPTION SUMMARY
The Assistant/Associate Controller leads the interim and annual audit and participates in the preparation of the financial statements of the University in coordination with the University Controller.
This role may be filled at the Assistant Controller or Associate Controller level depending on the selected candidate's experience and qualifications.
This position is responsible for managing quarter-end and year-end accounting processes and for handling Treasury functions, bond compliance and debt accounting, and fixed asset accounting. The role supervises 4 direct reports: a Senior Treasury Analyst, 1-2 Senior Accountants, and 1 Staff Accountant.
JOB DESCRIPTION
Responsibilities:
1. Performs major role in preparation of annual University financial statements and footnote disclosures and other compliance audit reporting
2. Assists in preparing the federal OMB Uniform Guidance audit report
3. Coordinates consolidation of subsidiaries
4. Leads the external audit process, actively engaging with the auditors throughout the audit process on audit request status and audit issues, assigning and coordinating audit request items among University staff, and ensuring the audit remains on track
5. Oversees internal control and internal audit processes
6. Oversees the University's cash flow and the day-to-day activities related to cash management, including line of credit management, cash projections and forecasts, approval of ACH and wire transactions within authorized limits, and administration of University bank accounts
7. Oversees preparation of all cash and banking reconciliations
8. Supports PCI compliance efforts in coordination with IT
9. Oversees and maintains the Workday Fixed Asset system, including monitoring and accounting for capital expenditures in accordance with GAAP
10. Maintains and enforces University policies for capitalization, depreciable lives, and depreciation
11. Ensures the accuracy of capital additions, retirements, impairments, and depreciation expense
12. Oversees preparation of capital asset rollforward
13. Coordinates with Facilities to track, monitor, and close out capital projects; oversees construction-in-progress project management
14. Ensures timely payment of principal, interest, and fees for outstanding debt
15. Ensures all debt instruments (bonds, notes payable, capital leases, line of credit, swaps) are accurately recorded in accordance with GAAP
16. Oversees preparation of amortization schedules for principal, interest, premiums, discounts, or issuance costs
17. Assists with tracking bond covenants, disclosures, and compliance reporting; coordinates preparation of annual continuing disclosure filings (e.g., EMMA)
18. Assists in preparing materials for advisors, rating agencies, auditors, and other external agencies
19. Oversees staff responsible for loan billing, servicing, and collections
20. Ensures accurate recording, reconciliation, and reporting of student loan programs, including Federal Perkins and Institute loans
21. Monitors aging of loan receivables, calculates allowance for bad debt, reviews balances for potential write-offs
22. Oversees preparation of the annual FISAP, in coordination with Student Financial Aid
23. Oversees pooled income trust, charitable gift annuities, and unitrust accounting
24. Calculates valuation for external trusts in coordination with Advancement
25. Works with Advancement to prepare documents for liquidation of trust gifts
26. Works with Advancement to record pledges receivable, including calculating fair value and establishing an allowance for uncollectible pledges
27. Leads the gathering of financial and operational data needed for mandated filings and external surveys
28. Prepares annual IPEDS survey and other IPEDS reporting
29. Prepares tax schedules for annual IRS Form 990 and MA Form PC
30. Ensures reports meet submission deadlines and follow regulatory requirements
31. Assembles annual insurance renewal forms in coordination with General Counsel and insurance company
32. Oversees preparation of other reports and survey requirements
33. Contributes to and presents relevant accounting/finance topics at meetings with University accounting and finance community
34. Ensures appropriate training materials are available to the accounting and finance community
35. Meets with staff regularly to coordinate projects and priorities
36. Provides training and develops tools to produce staff efficiency and support staff development, supporting automation and process improvements where applicable
37. Participates in the development of policies and procedures to ensure efficient processes and controls in staff areas
38. Performs all other duties and responsibilities as assigned or directed by the supervisor
Qualifications:
39. Bachelor's Degree, preferably in Accounting or Business
40. CPA or willingness to work towards CPA required
41. Minimum of 5 to 7 years of progressive responsibility in accounting positions, including 3 to 5 years in a supervisory role
42. Experience in higher education financial accounting preferred, with knowledge of accounting standards and federal and state regulations applicable to not-for-profits and universities
43. Demonstrated competency with financial information technology and ability to support systems implementations
44. Workday experience is a plus
45. Flexibility and willingness to adapt to change
46. Strong project management and communication skills
Salary Grade 12: $127,500 – $133,937 per year (depending on experience)
Salary is based on related experience, expertise, and internal equity; generally, new hires can expect pay between the minimum and midpoint of the range.
FLSA STATUS
United States of America (Exempt)
WPI is an Equal Opportunity Employer. All qualified candidates will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity, national origin, veteran status, or disability. It seeks individuals from all backgrounds and experiences who will contribute to a culture of creativity, collaboration, inclusion, problem solving, innovation, high performance, and change making. It is committed to maintaining a campus environment free of harassment and discrimination.