Vice President of Financial Affairs/Assistant Treasurer

The Vice President of Financial Affairs, as the chief financial officer of the University, administers accounting and control procedures to ensure compliance with generally accepted accounting principles;

plans, organizes, coordinates, and controls the services and activities of the Accounting Services operation including accounts payable, accounts receivable, contracts and procurement, cash management, endowment, fixed asset, grant, and all other general accounting functions.

The VPFA is responsible for the timely and accurate presentation of all financial accounting reports, tax filings & reports, corporate and other information returns required of High Point University.

• The VPFA is also responsible for the administration and establishment of policies, guidelines, procedures, and other management decisions necessary to manage the University’s resources effectively;
• assist in relations with internal management with responsibilities pertaining to budgeting, accounting, endowment management, and other activities;

assists with coordinating all the University’s audits; prepares financial reports, summaries, and forecasts. The VPFA is involved in all aspects of the financial operation of High Point University.

The VPFA works closely with the Senior Vice President for Business Affairs (SVPBA) in all other aspects of the business operation.

QUALIFICATIONS :

Education, Experience, and Training :

Bachelor’s degree in accounting with seven or more years of experience required, preferably in higher education or non-profit finance.

CPA certification is required. MBA, MSA in accountancy, and / or additional experience is strongly preferred.

Knowledge, Skills, Ability :

• Knowledge of accounting systems and general accounting principles, GAAP and FASB pronouncements, Financial and Uniform Guidance Audits, Department of Education Title IV and other Federal and State loan programs, and tax guidelines related to the payroll function, 1099, 1098T, and 1042 reporting, and the University’s tax reporting requirements (990 and 990-T)
• Knowledge and ability to utilize the Internet, Microsoft Office software, E-Commerce, and Ellucian Colleague / Datatel software or a related higher education software package
• Knowledge and ability to utilize internal systems, including Clarity (budgeting and real-time account status software, Procure-to-Pay software such as Unimarket, and paperless imaging software such as ImageNow.
• Knowledge of UPMIFA for assistance in the administration of the endowment
• Knowledge of DOL rules and regulations for the University’s Retirement Plan monitoring and compliance
• Analytical and problem-solving skills
• Effective communication skills and ability to work independently and as a team
• Strong interpersonal skills and the ability to work effectively with internal and external personnel
• Ability to work confidently and competently under tight deadlines
• Ability to quickly analyze situations, consider alternatives, and take appropriate course of action

ESSENTIAL FUNCTIONS :

Train and supervise team members to perform all financial job responsibilities. Assign and schedule work of support staff personnel;

monitor work performance for accuracy and completeness to ensure compliance with established policies.

Establish accounting procedures compatible with the ERP System to facilitate all financial reports to conform to generally accepted accounting principles.

Act as a co-liaison to the Board Finance Committee for the semi-annual and annual review of financial reporting and audited financial statements.

Responsible for the chart of accounts, general and subsidiary ledgers, and the timeliness and accuracy of posting cash receipts, accounts payable, and journal entries.

Approve journal entries made by direct reports. Responsible for coordinating the completion and reviewing of the monthly and annual financial closings, the related monthly financial reports, and Audited Financial Statements.

Manage daily cash and short-term investments according to University policy. Report weekly balances to the SVPBA and President.

Work with the SVPBA to project monthly cash flow and year-end cash.

Oversee endowment accounting, including timely completion of deposits and transfers to the Endowment Investment Managers.

Act as a co-liaison to the BOT Investment Committee for the semi-annual review of endowment performance

Oversee management of the Federal Title IV and Federal Loan programs through the e-grants Department of

Education website. Ensure the activity is reconciled with the general ledger and cash is appropriately moved between federal and operating cash accounts.

Review the financial portions of the annual FISAP report prepared by the Director of Accounting and submitted electronically by the Office of Financial Planning.

Assist the Director of Accounting and AVP for Student Financial Services with coordinating and preparing work papers for the annual financial aid Uniform Guidance Audit.

• Ensure annual restricted scholarship award levels are provided to the Financial Planning and Institutional Advancement Offices.
• Manage debt service requirements (covenants) and other banking relations.
• Review and assist with the preparation of the annual Form 990 & 990T income tax returns, ensure annual distribution of the 1099, 1098T, and 1042 forms, and filing of those returns with the IRS.
• Coordinate with the Budget Analyst and assist the Budget Analyst and SVPBA in preparing and administrating the annual budget.

Act as a co-liaison with the Board of Trustees Finance Committee with quarterly budget reporting, establishing tuition and fee levels, and yearly budget approval.

• Complete all required financial statements or reports requested by the federal or state government, educational, institutional, or other agencies.
• Assist the Director of Accounting with coordinating the year-end audit. Provide aid, review, and backup in the preparation of all year-ending work papers requested by the external auditors as itemized on their prepared by client (PBC) list.

Act as a co-liaison to the Board of Trustees Audit Committee.

• Approve purchase requisitions for direct areas of responsibility and all University purchases over an established level of spend
• Serve as the Assistant-Treasurer to the Board of Trustees
• Act as the Registered Agent for the University
• Serve as one of three University signature authorities alongside the SVPBA and the President.
• Perform other duties as the SVPBA or President may assign.

SUPERVISORY RESPONSIBILITIES :

This position provides for the administration, management, and control of the functions of the Accounting Services operation, including responsibility for accounting, cash receipts, contracts and procurement, disbursements, insurance, risk management, and payables.

This position supervises the Assistant Vice President for Business Services, the Director of Accounting, the Assistant Vice President for Student Financial Services (Student Financial Planning & Student Accounts), and the Budget Analyst.

Assistance is provided to the SVPBA with the supervision of the Human Resources and Payroll function as needed.

ACCOUNTABILITY :

As delegated by the Financial Affairs policies and procedures, the incumbent directs daily activities related to the monthly and year-end financial closings for the financial statements to accurately reflect the results of the University's monthly and annual financial operations.

The incumbent works closely with the SVPBA and their direct team to ensure compliance with University policy and all federal and state regulations and laws.