What are the responsibilities and job description for the Director, Finance & Administration position at ACTUARY.ORG?
ABOUT THE ACADEMY
The American Academy of Actuaries (Academy) is a D.C.-based 19,500 member professional association whose mission is to serve the public and the U.S. actuarial profession. Academy members include consultants, corporate executives and staff, regulators, government officials, academics, and retired actuaries. Their areas of practice cover pensions, life insurance, casualty insurance, health insurance, financial reporting, risk management, and more.
The Academy assists public policymakers on all levels by providing leadership, objective expertise, and actuarial advice on risk and financial security issues. The Academy also sets qualification, practice, and professionalism standards for actuaries credentialed by one or more of the five U.S.-based actuarial organizations in the United States.
OVERVIEW
Reporting to the CFO, the primary responsibility in this role is the management of the finance department, including the monthly closing process, the timely preparation of internal and audited financial statements among other reports as needed. The position is also responsible for the maintenance of the general ledger, including all account reconciliations, ensuring adequate internal controls are practiced, and creating a dynamic interaction with other team members.
Additionally, you will assist in managing the annual budget process, forecasting, and the preparation of materials for the Executive Committee and Board of Directors.
Moreover, you will work with the leadership team to develop and implement reporting mechanisms to bring an enlightened understanding of the financial transactions throughout the year.
This position will supervise two direct reports: A senior staff Accountant (A/R) and the Staff Accountant (A/P).
The ideal candidate should have at least 5 years’ experience in a similar role in a non-profit organization, and a Bachelor of Science (or equivalent experience), in accounting. The position also requires familiarity with MS Office products (especially Excel), and the particular ability to create and maintain pivot tables. Experience with the SAGE/Intacct financial application preferred.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Assists in managing the annual budget process as directed by the CFO including creation of a budget template, dissemination, collection and review of information from other departments, compilation of annual budget reports and creation of budgets for association related accounts. Reviews departmental and program budgets and assist staff who have budget responsibility in the preparation of their budgets.
- Creates periodic reports on various financial aspects, as directed by the CFO, for use by the Secretary-Treasurer, Membership Committee, CFO, and other senior management, including monthly financial statements for use by Academy stakeholders.
- Ensure adequate internal controls are practiced.
- Manages the monthly closing process, including preparation and approval of journal entries, verifying correct coding of revenues and expenses, and reconciling all balance sheet accounts to external sources.
- Approves invoices for payment after verifying all required approvals have been made and documentation is appropriate in accordance with established policies for the payment.
- Preparation of audit schedules, account reconciliations, PBC schedules and functional statement of expenses for the audited financial statements.
- Calculation of service/management fees for inter-organizational programs. Reconciles any variance of projected versus audited expenses to adjust service fee revenue and accounts receivable.
- Prepares meeting materials for the Board of Directors, Executive Committee, Audit Committee, Budget and Finance Committee, and Personnel and Compensation Committee.
- Ensures required contributions are made in a timely manner in compliance with the investment policy and verifies the distributions made from the Defined Benefit Pension Plan.
- Prepares depreciation schedules and property tax schedules used for filing personal property taxes.
- Conduct new hire orientation meeting with staff and senior management who have budget responsibilities as requested by the CFO or HR Director. The meeting includes the budget development process, the process of monitoring budget compliance, the process of developing projections, and financial procedures.
- Attends meetings and records minutes for the Audit Committee, Budget and Finance Committee, and Personnel and Compensation Committee.
KNOWLEDGE, SKILLS, AND ABILITIES
- Knowledgeable in accounting principles and practices.
- Experience in developing budgets, monitoring budget compliance, and preparing financial reports.
- Ability to develop annual meeting and meeting agenda schedules for committees and the Board of Directors to ensure work products are prepared and delivered when needed.
- Ability and willingness to work as a team and maintain professional and respectful relationships with staff and senior management.
- Good communication skills in both oral and written form.
- Ability to establish and maintain effective relationships with management staff, employees, financial advisors, and auditors.
- Experience in maintaining confidentiality in financial matters.
- Ability to identify and resolve problems in a timely manner; and gather and analyze information.
- Ability to monitor delegated activities to ensure work products are produced in a timely manner.
EDUCATION AND EXPERIENCE:
Bachelor’s degree and a minimum of five years of experience in a similar role for a non-profit organization. It is preferable to have a CPA, but not required.
Please submit a COVER LETTER and expected SALARY RANGE.
Hybrid work schedule.
Job level: This is an exempt position.
The American Academy of Actuaries is an EEO Employer.
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