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Title:

Director, General Accounting

Department:

AVP Accounting & Treasury Mgmt

Reports To:

Associate Vice President of Finance & Treasury Management

Position Type:

Staff

Position Summary:

The Director, General Accounting and Financial Reporting is the key leadership position within the Office of General Accounting at New Jersey Institute of Technology (NJIT). Reporting to the Associate Vice President of Finance and Treasury Management, this individual will be responsible for overseeing and leading the general accounting functions of the University and the Foundation, ensuring compliance with all applicable accounting standards, including GASB, and driving continuous improvement through the implementation of finance automation and process enhancements.

The Director is engaged in leading and mentoring the general accounting team and fostering a positive, dynamic, and collaborative work environment. The Director is responsible for leading the month-end closing procedures and monthly and quarterly reporting; compiling the annual consolidated financial statements; overseeing and reviewing affiliated entities financial statements and agreed upon procedure reports. In addition to the normal accounting and analysis work, the Director is responsible for management and external reporting, accounting policies and procedures, special projects, and oversight of the provision of services to affiliates and university operating departments.

Essential Functions:

• Oversee and lead the preparation of the University's financial statements, including the Annual Comprehensive Financial Report (ACFR), management’s discussion and analysis, and other required financial reports, as promulgated by the Governmental Accounting Standards Board (GASB).

• Provide and develop the business framework to ensure compliance with all accounting, financial reporting, and administrative requirements set forth by the university, external auditors, regulatory agencies, and Generally Accepted Accounting Principles (GAAP).

• Provide support for external audits, working with auditors to ensure timely completion of audits and compliance with financial reporting standards.

• Lead and manage the day-to-day general accounting functions, including non-student accounts receivable, general ledger, and fixed assets.

• Oversee the monthly, quarterly, and annual close process, ensuring accurate and timely financial information.

• Mange the general accounting office staff, including hiring, mentoring, developing, and performance evaluations.

• Develop accounting policies and procedures to improve the internal control structure of the university, implement best practices, and ensure clear and complete communication of established policies and procedures to the university community.

• Provide support to related entities and university operating departments to assist with ongoing accounting and analysis work, internal and external reporting, tax filings, and other accounting and administrative needs.

• Identify opportunities for process improvements and implement best practices to streamline accounting operations.

• Stay updated on changes in accounting standards, regulations, and industry standards, and adapt/implement the accounting practices accordingly, including but not limited to new GASB pronouncements.

• As a key contributor to the university’s transition to a new ERP, provide input and information needed for project teamwork related to ERP system enhancements and replacements.

• Recommend enhancements to the ERP system and reports to enhance the usefulness of the system and the value of the information it provides.

Additional Functions:

• Perform as Director of, or a primary contributor to, special projects that arise from time to time, with the objective of completing each project efficiently.

• Identify opportunities to streamline and automate general accounting processes and implement innovative process improvements via new technologies and systems to improve efficiency and accuracy.

• Participate in the F&A Rate Proposal Team, as needed.

• Perform other managerial duties as assigned.

Prerequisite Qualifications:

• Bachelor’s degree in accounting and CPA Certification required.

• Minimum of fifteen years of progressive, relevant accounting and financial reporting experience, and ten years of management experience, including leading, motivating and mentoring staff.

• Knowledge of generally accepted accounting principles, preferably as it relates to the higher education industry and fund accounting.

• Experience preparing external financial statements and management reports.

• Knowledge of the functioning of accounting systems and of the techniques of financial analysis and project management.

• Advanced Excel skills.

• Excellent oral and written communication and interpersonal skills.

• At the university's discretion, the education and experience prerequisites may be exempted where the candidate can demonstrate to the satisfaction of the university, an equivalent combination of education and experience specifically preparing the candidate for success in the position.

Bargaining Unit:

Non-Aligned

Range/Band:

7

FLSA:

Exempt

Full-Time