| Job Description Summary | The Investment Office is responsible for managing the University’s endowment of approximately $600MM and overseeing all aspects of its investment and administration. Endowment funds provide critical financial support to current and future generations of students and scholars. The university endowment portfolio is designed to optimize long-term risk-adjusted returns in order to provide a stream of relatively predictable and stable funding to the operating budget. Reporting to the Vice President, Investments and Administration, the Endowment Gift Accounting Manager (EGAM) is primarily responsible for gift endowment accounting and makes a critical contribution to the overall effective management of the university endowment. EGAM will perform: - High-level, complex gift accounting and administration of the endowment portfolio and its individual 400 plus endowment accounts;
- Regular validation of the endowment values, unitization, and distribution data for financial reporting and in support of related university strategic projects and initiatives;
- Extensive financial analysis and reporting that requires researching, verifying, compiling, recording, reconciling, analyzing, and evaluating endowment transactions on a regular basis;
- Complex and varied analyses of endowment accounting issues and concepts, in addition to analysis and reconciliation activities and preparation of various internal and external endowment reports.
In the process of fulfilling the responsibilities of this position, EGAM will interact on a variety of issues with University Advancement, Financial Services, Budget Office, and Academic Affairs. EGAM must communicate professionally and effectively with all internal and external Investment Office stakeholders both in writing and verbally, including using clear and ordinary language to describe complicated accounting and financial rules and regulations. |
| Responsibilities | Endowment Accounting, Reconciliation, and Analysis - Calculate and prepare the endowment distribution of income for each individual expendable account
- Prepare and analyze total endowment distribution calculation consistent with the university spending policy
- Prepare estimates and projections of endowment spending distributions as requested
- Review, reconcile, and validate endowment gifts, pledge payments, and donor transfers on a regular basis and no less than monthly to ensure consistency among all systems
- Prepare journal entries for all endowment-related activities (e.g., gifts and donations, spending, and transfers)
- Prepare and continuously maintain monthly cash flow forecasts for all endowment activities (e.g., gifts and donations, spending, and transfers) within the endowment fund
- Prepare relevant endowment information for the monthly and year-end closes, including information for the annual external audit
- Build endowment analytic capacity by centralizing key data collection of new and existing endowment accounts, such as spending distributions, expenditures, pledge payments, and other relevant parameters
- Ensure consistent compliance with operational policies, procedures, and regulatory requirements that safeguard assets and produce uniform investment reporting meeting standards established
Endowment Administration and Reporting - Review and analyze all new endowment agreements to ensure proper and accurate account setup in PeopleSoft Finance (general ledger) and Fundriver (endowment management software)
- Establish all new endowment accounts in Fundriver ensuring that proper and accurate supporting documentation is in place and account attributes such as campus and department id’s, fund purpose codes, type, description, and purpose are accurate and consistent in PeopleSoft and Fundriver
- Assure that an endowment’s related spendable account’s attributes match the attributes of the endowment
- Ensure regulatory compliance with CASE, CAE, FASB, GAAP, and IRS rules and regulations and reporting standards
- Monitor endowment accounts for compliance with donor stipulations and university policies governing spending and reinvestment levels
- Perform comprehensive compliance review of a subset of all endowment accounts on a continuous basis
- Identify compliance issues related to use and administration of gift and endowment accounts and recommend corrective action and resolution
- Identify and advise on areas in which gift and endowment funds are under-utilized
- Maintain, update, and reconcile endowment account records in Fundriver and coordinate related functions with the University Advancement and Financial Services staff as needed
- Research and respond to internal inquiries regarding endowment account administration, documentation and financial information, including the spending distribution and available balances
- Serve as the primary system administrator for Fundriver, including set up, security, and training of new users and review of user accounts
- Participate in the development of timely and useful financial models and reports including income and expenditures, trend analyses, forecasting, resource reallocation scenarios, and performance analytics
- Research and analyze endowment-related data and prepare monthly, quarterly, annual and ad hoc endowment reports
Other - Assist Vice President, Investments and Administration, with preparation of meeting materials, reports, and agendas for the Investment Committee, Finance Committee, Audit Committee, Board of Trustees, and other internal and external constituencies
- Gather and report data for the university’s participation in peer reports and other industry-related surveys
- Assist in processing and acceptance of gifts in the form of nonmarketable securities
- Maintain currency with, understand, and interpret accounting and business principles that relate to areas of responsibility
- Promptly and effectively advise Vice President, Investments and Administration regarding any applicable regulatory, reporting or procedural changes, as well as any relevant issues of importance
- Conduct endowment-related research projects, prepare reports, exhibits, reports, extracts, and data sets and provide analytical support
- Continuously evaluate and make recommendations to improve processes and systems that support endowment administration operations based on best practices of peer and leadership institutions
- Assist in maintenance of the Investment Office website and ensure resource documents are kept current
- Cross train with the Investment Office staff to provide backup support as needed
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