Associate Vice President of Accounting Finance
Associate Vice President of Accounting Finance
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Job Description
Fahrenheit Advisors a Smith Howard Company has been retained to assist our client The University of Mary Washington Foundation in their search for an Associate Vice President of Accounting & Finance to join their team in Fredericksburg VA. This position is primarily onsite with remote flexibility.
The University of Mary Washington Foundation accepts manages and administers private resources to further the mission and priorities of the University of Mary Washington. The Foundation provides opportunities for institutional excellence unavailable with state funds.
The Associate Vice President for Accounting & Finance for the UMW Foundation is responsible for oversight of all finance accounting tax and regulatory compliance and reporting activities on the part of the Foundation and its support of the University of Mary Washington through endowed and nonendowed funds. As a member of the senior leadership team of the Foundation and Advancement and Alumni Engagement the position partners with the Executive Director of the UMW Foundation and Treasurer of its Board of Trustees the UMW VP for Administration and Finance and CFO to achieve operational excellence in fulfillment of the purpose of UMW Foundation.
Core Responsibilities
Strategic Financial Leadership 30
- Assist the Foundation Board of Trustees and Executive Director in developing financial strategies and business plans ensuring effective implementation with the OCIO.
- Provide financial insights and recommendations based on analysis to support decisionmaking.
- Evaluate the organizations financial performance identifying areas for improvement and advising the Executive Director and Board of Trustees.
- Develop manage and track the UMW Foundations annual budget in collaboration with the Executive Director and UMWFs Treasurer.
Financial Reporting and Compliance
- Lead the preparation of accurate timely financial statements in compliance with GAAP/IFRS/FASB and relevant regulations.
- Ensure adherence to local state and federal financial laws.
- Prepare and present monthly/quarterly financial statements for the Foundation Board and Audit Committee.
- Maintain a wellorganized auditable system for accounting records and internal controls.
- Generate and distribute monthly budget variance reports to management and board committees.
- Support Treasurer/CFO and Executive Director in preparing the annual operating budget.
- Oversee the yearend financial statements and coordinate the annual audit process.
- Prepare annual operating budgets for unrestricted funds including necessary midyear adjustments.
- Ensure timely completion of financial reports for management and board review.
- Coordinate completion of the Form 990 with external tax partners.
Accounting Operations 30
- Oversee and execute daily accounting operations including general ledger accounts payable receivables and tax functions.
- Develop and implement efficient accounting policies systems and processes.
- Monitor and improve operational accounting procedures for enhanced efficiency and accuracy.
- Mentor and manage the Senior Accountant establishing clear goals and performance metrics.
- Ensure timely preparation and review of all financial reports.
General & Advanced Accounting Functions
- Track and record interentity transactions including owners equity.
- Maintain a cash forecasting model to ensure appropriate cash availability.
- Manage journal entries accounting for distributions and property/equipment records.
- Oversee Alumni Association financial accounting.
Accounts Payable & Disbursements
- Approve banking transactions wire transfers and tax payments.
- Review and sign disbursement checks with the Executive Director and UMWF Treasurer.
- Work closely with UMW Budget and Finance to forecast distributions for scholarships and university support expenditures.
Accounting for Contributions
- Verify and reconcile donor pledges and contributions.
- Close books promptly to ensure timely financial tracking and reporting.
- Supervise and review work related to financial reporting.
Endowment & Investment Accounting 30
- Record and allocate investment gains losses interest income and management fees.
- Provide quarterly reports on endowment and restricted fund balances.
- Respond to budget variance inquiries and assist in budget tracking.
- Oversee the financial management of UMW Foundation entities including endowments restricted funds and affiliated organizations.
- Coordinate endowment reporting and financial reviews with University Advancement and Leadership.
- Work closely with the OCIO and Investment Committee to monitor investment fund performance.
- Complete monthly investment reconciliations from custodial statements to the general ledger.
Technology & Systems Integration 10
- Oversee the implementation and maintenance of accounting and financial systems.
- Assess and integrate emerging financial technologies to enhance operational efficiency.
- Ensure data security and integrity across financial systems.
- Maintain compliancedriven accounting software and reporting tools.
- Develop and implement policies to safeguard Foundation data while ensuring efficient staff access.
Performance Factors
- Leadership: Delegates motivates and fosters innovation while managing change.
- Attendance/Punctuality: Maintains reliability in work attendance.
- Safety: Adheres to and promotes workplace safety protocols.
- Interpersonal Skills: Builds strong working relationships with all stakeholders.
- Planning/Analytical Skills: Demonstrates problemsolving abilities through data analysis and sound decisionmaking.
- Customer Service: Provides highquality support to internal and external stakeholders.
- Professionalism/Ethical Conduct: Upholds integrity compliance and ethical standards.
- Diversity & Inclusion: Respects and promotes workplace diversity.
- Procurement Responsibility: Supports supplier diversity and responsible procurement (if applicable)
Required Qualifications:
- Bachelors degree in accounting or a related field with a concentration in accounting.
- 5 to 10 years of progressive experience in accounting and financial reporting in a nonprofit environment; or equivalent experience in an accounting firm providing audit and financial services.
- Management experience.
- Strong computer skills including proficiency with accounting systems and applications.
- High attention to detail with the ability to stay organized and work efficiently.
- Excellent verbal and written communication skills to effectively collaborate with stakeholders including:
- University Senior Leadership
- Deans and Directors
- Foundation Board of Directors
- Foundation Audit Committee
- Investment Committee
- University Board of Visitors
Preferred Qualifications:
- Experience with nonprofit accounting and financial reporting.
- Strong knowledge of accounting systems including Blackbaud Financial Edge.
- Willingness to learn new systems and support future data conversions or system implementations to enhance efficiency.
- 7 to 10 years of nonprofit accounting experience.
- CPA preferred
Required Experience:
Chief
Employment Type
Full Time
