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Program Economic Studies Job Funtion Accounting/Finance Posted Date 2019-02-26 Job ID 2019-2005 Salary Commensurate with experience Overview
The Director of Finance guides the financial strategy for and guards the financial health and sustainability of Economic Studies (ES), the largest research program at Brookings, and is responsible for the financial management, oversight, and strategic analysis of the ES budget and finances. The Director manages all verticals with specific focus on budgets and grants, and continually assesses areas for improved efficiency throughout the program.
S/he directs a team of financial managers, providing leadership, oversight, and guidance, and serves as lead financial manager, directly responsible for a specific portfolio of projects and grants in the program. The Director is a key member of the ES management team, under the organizational direction of the VP & Director (VP) and the Managing Director of ES. S/he also works closely with Brookings’s Office of Financial Services, under the functional direction of the Chief Financial Officer (CFO).
Program Financial Strategy and Management (35%)
Produce insightful analyses of program’s financial position to VP and CFO and guard the program’s financial health and sustainability
Identify financial risks, inefficiencies, and opportunities for improvement for program
Create effective financial models and analyzes scenarios to support decision-making at program and institutional levels
Clearly communicate analysis at appropriate level of detail for various audiences, explaining assumptions and limitations of the models.
Evaluate and analyze actual performance and progress against forecast, budgets, strategic plans and initiatives to ensure the departmental goals and commitments are achieved.
Forecast obligations, expenditures, revenues and balances for program; keep ES management aware of potential problem areas or opportunities.
Work with the ES program management team—the Managing Director, Senior Director of Development, and the Director of Communications to ensure that all operations are coordinated and running smoothly.
Generate and evaluate options for achieving long- and short-term goals in program and Institution.
Work with relevant program personnel to help identify short, medium and long-term funding needs; provide budget input into program development plans.
Financial Management (35%)
Manage and monitor the overall program budget, including core program, centers, initiatives, and projects.
Provide accurate and timely financial information to the VP to help achieve the goal of balancing the budget for the fiscal year.
Collaborate closely with the Office of the CFO to ensure timely and accurate analysis and sharing of information on ES budgets, actual results, and key performance indicators.
Prepare and oversee preparation of program budget materials and financial analyses required or requested by the VP, MD, or Institutional management; ensure that all internal program budget and financial deadlines and requirements are met.
Provide guidance and supervision on budget and finance to all financial management staff within the program, ensuring cooperation on reporting and other requirements.
For assigned portfolio, develop, prepare, and monitor budgets; forecast obligations, expenditures, revenues and balances; monitor and oversee all project charges and expenditures on a monthly basis; review, submit and oversee correction of inaccuracies.
Serve as principal liaison for ES with the Office of Financial Services. Oversee and monitor accuracy of budgeted labor hours for program and approve timesheets of assigned personnel.
Grant Management (20%)
Coordinate with scholars and Senior Director of Development to ensure that grant proposals are funded to the maximum extent possible; flag any potential funding gaps.
Prepare, review and approve budgets for funding proposals.
Review new grants and awards for compliance with the Institution’s policies and donor requirements.
Oversee revenue allocation and funding distribution for program, with direct management of a portfolio of projects; monitor rate of grant spending and revenue recognition on monthly basis.
Work with Senior Director of Development to monitor and communicate grant reporting deadlines and any other post-award commitments to relevant project staff; determine reprogramming requirements and extension requests.
Monitor revenue recognition and compliance with grant terms.
Review, approve and distribute financial reports to funders in collaboration with Grants.
Procurement and Contract Management (10%)
Manage procurement of goods and services for ES, relying on the services offered by the Procurement department.
Authorize and monitor program expenditures and purchases; steward compliance with Brookings-wide policies, procedures and processes to ensure a clean audit for program.
Draft, review, and pre-approve contractual agreements, including subcontracts and MOUs; track contractual obligations and compliance; monitor contractual payments.
Manage, review and approve credit card transactions, purchase orders, invoice reimbursements, TERs, and other financial transactions.
Approve large program expenditures and purchases to appropriate signature level; oversee ES P-card program; recommend staff signature approval authority.
For assigned portfolio, process and approve credit card transactions, purchase orders, invoice reimbursements, TERs, and other financial transactions.
Bachelor’s degree with a minimum of eight years of experience in business administration, public policy administration, budgetary and grant management and related fields required. A background in a research or academic or nonprofit setting is strongly preferred. MBA preferred. Must be legally authorized to work for any employer in the U.S.
Track record of financial management, budget and grant management, and accounting skills, including the ability to set up, manage, and monitor a multi-million-dollar budget. Strategic thinker who can provide accurate, timely strategic financial advice and can clearly communicate analysis at appropriate level of detail for various audiences. Confident adviser and partner for program and institutional management to guide decision-making and participate in strategic planning. Effective team leader, manager, and staff mentor who can inspire team to perform efficient, high-quality work with a customer service attitude. Experience in a complex organization and with intricate financial systems and software. Experience with PeopleSoft preferred. Advanced Excel skills and knowledge of Microsoft Office Suite required. Ability to develop reporting, including building Pivot Tables, and to analyze, interpret and develop narratives from large financial datasets. Knowledge of financial performance metrics; strong analytical and problem-solving skills. Must be a mature, self-motivated, team player with ability to get along well with a variety of personality types and have a high degree of judgment, tact, and discretion in dealing with relationships at all levels, and in handling confidential and sensitive matters. Must be flexible and capable of comfortably pivoting between high-level strategy and hands-on tactical approaches to finance issues. Comfortable working in a fast-paced environment with shifting, competing priorities.
Brookings requires that all applicants submit a cover letter and resume. Please attach your cover letter and resume as one document when you apply.
Successful completion of a background investigation is required for employment at Brookings.