The Hormel Institute, University of Minnesota is seeking an energetic, self-starter to oversee our departmental accounting team. This position is responsible for financial oversight and fiscal operation of The Hormel Institute. This position manages multiple accounts for the department and our research team, directs the work of department purchasing associates and provides financial forecasts/projections. Supervises: one Finance Professional 2 Generalist and two Clerical purchasing associates
Sponsored Project Management – 25%
Prepare monthly and annual reports for grants, prepare projections, and provide data and recommendations on sponsored financial accounting matters.
Facilitate requests to sponsors for re-budgets, no-cost extensions, changes to key personnel, carryover of unspent funds, as well as sub award activity and contract set up and amendments.
Facilitate meetings with Principal Investigators regarding the monitoring of grant expenditures and balances, and advise PIs on other related financial accounting matters by keeping the PI informed of current and projected balances.
Coordinate effort certification for assigned faculty and grants, including managing and monitoring payroll distributions, effort, salary commitments, salary cap issues, and budgetary implications. Communicate regularly with Principle Investigators regarding necessary distribution changes; process necessary corrections and set up required cost-share/salary cap correctly.
Work with Sponsored Financial Reporting (SFR) to perform all project closeout duties.
Monitor The Hormel Institute’s Indirect Cost Recovery revenue and perform required fiscal year end analysis and closeout
Monitor sponsored projects for compliance with agency rules and regulations.
Coordinate sub award activity.
Non-Sponsored and General Fiscal Management – 50%
Serve as the main contact for Hormel on financial matters and partner with the OVPR Finance cluster as needed.
Meet on a regular basis with department administrators, directors, PIs and other staff to review financial status, initiate planning and problem solve.
Prepare detailed and complex financial analysis of accounts, identify areas of concern, document for audit purposes, and recommend a course of action to resolve any issues.
Develop annual non-sponsored detailed and position budgets and enter information into PeopleSoft.
Manage budget shortfalls and overruns.
Maintain non-sponsored chart of accounts, including establishing new accounts and closing obsolete accounts.
Review and reconcile accounts and make any necessary corrections by entering journal entries or retro distributions directly into EFS. Enter or update salary distributions as necessary.
Department Approver on Accounts and Expenditures – 10%
As second level approver, audit and approve/deny expenditures on sponsored and non-sponsored accounts based on Administration requirements of the university and sponsor (e.g., PCards, expense reports, journal entries, vouchers, etc;).
Serve as Certified Approver for The Hormel Institute.
Continuous Improvement/Professional Development – 10%
Attend classes, workshops, seminars, and other meetings to remain up-to-date on system and policy changes, and continue professional development.
Attend financial meetings on the Twin Cities Campus in an effort to maintain partnership with OVPR Finance and stay current on University fiscal policy and best practice.
Design and implement data gathering and reporting process improvements to improve financial reporting accuracy, clarity and timeliness. Help department to expand analytical capabilities and identify/implement cost-saving opportunities
Other Duties as Assigned – 5%
BA in accounting or finance plus 4 years of relevant experience or combined education and experience to equal 8 years.
Certified Approver or must pass exam within the first year of employment
Ability to travel occasionally to the Twin Cities Campus for training and financial meetings.
Knowledge, Skills and Abilities
Demonstrated excellence in analytical, teamwork, and partnering skills
Must be able to work independently and efficiently in a fast-paced environment with tight deadlines and exercise sound, independent judgement
Demonstrated ability to communicate effectively, both in writing and verbally, financial information to non-financial professionals.
Demonstrated ability to be organized and detail oriented.
Advanced degree in accounting or finance.
Knowledge of regulatory guidelines: Federal, State and the University of Minnesota
Experience with University Financial Systems: Enterprise Financial Systems (EFS), Electronic Grants Management System (EGMS) and Effort Certification Systems (ECRT).
Internal Number: 330536
About University of Minnesota, Twin Cities
The University of Minnesota, founded in the belief that all people are enriched by understanding, is dedicated to the advancement of learning and the search for truth; to the sharing of this knowledge through education for a diverse community; and to the application of this knowledge to benefit the people of the state, the nation, and the world.