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SENIOR FINANCIAL ADMINISTRATOR
Position Overview
SENIOR FINANCIAL ADMINISTRATOR, Department of Mathematics is seeking a strategic thinker who sets priorities for finance team and proposes new strategies and solutions for process improvement. Responsible for the management of all sponsored research projects and non-sponsored funds for the Department of Mathematics. This includes both pre- and post-research administration, and the overall management of funding from a wide variety of federal, industrial, and foundation sponsors with an all-funds volume of $43M in expenses. Will supervise, mentor, and recruit (when necessary) finance staff members, providing overall guidance on financial matters, conducting performance evaluations, and promoting professional development of finance staff. The Sr. Financial Administrator will report to the Director, Administration and Finance (DAF), Mathematics, and provide counsel to DAF on overall sponsored and non-sponsored administration activities, and collaborate to develop and implement Mathematics’ financial and organizational strategies. Will also serve as a resource for staff and faculty in the Department. Will work with the Office of Research Administration Services, Office of the Vice President for Finance, and various central and departmental staff.
Principal Duties and Responsibilities (Essential Functions**):
- Understands principles and theories of finance administration in higher ed with broad understanding of other related disciplines.
- Develops and implements financial policy, procedure, and process improvements for the Department.
- Provides high-level financial work (financial modeling, analysis, budget development, etc.) incorporating strategic and operational objectives of the department.
- Through ongoing training, ensures that all funding within Mathematics is managed and used with full adherence to MIT policies and procedures.
- Functions as partner with senior leaders to develop strategic goals and plans for financial and research administration that align with the department's mission.
- Function as a partner with senior leaders to support strategy development and decision-making through financial modeling and data analysis
- Develops and implements short-term operational strategies and plans for finance team
- Supervises, mentors, and trains the department's financial staff, including performance evaluations, and development plans; manages role authorizations for financial staff, and is part of hiring for financial staff.
- Prepares monthly, quarterly and annual budget reports, budget forecasts, financial analysis, and fiscal year-end closing processes; presents findings to Mathematics senior management.
- Develops financial reports, forecasts, studies and analysis for PI(s) and in support of research and department funding, manages proposals, under-recovery, cost sharing, subcontracts, etc.
- Develops training and education for Faculty, PIs, and Staff on all aspects of financial administration in the department.
- Assists with training and mentoring the faculty administrative assistants who handle faculty financial portfolios
- Authorizes and/or oversees expenditures of the Department.
- Partners with senior leaders to make changes to projects, programs, or system when necessary to support the mission of the department.
- Ensures compliance regarding sponsored projects and gift administration/financial activities. Ensures that all departmental financial accounting systems are managed in accordance with MIT policy.
- Serves as backup to the DAF, on oversight of Department controlled accounts.
- Develops and coordinates Graduate Research Assistant appointment process with faculty and the academic department(s) to ensure that appointments are established in a timely manner, are appointed to the appropriate research program, and have received PI approval.
- Resolves highly complex issues regarding budget management and policy interpretation, e.g., how to apply charges and how to navigate unusual funding situations.
- Guides others in completing complex financial proposals and administering gifts and awards.
- Drives consensus on day-to-day matters to reach agreement where there may be varying points of view.
- Negotiates with vendors and contractors.
- Manages internal and external audits.
- Handles a variety of other administrative duties as assigned
Qualifications & Skills:
REQUIRED: Bachelor’s degree required and minimum 7 years’ experience in financial management. Successful candidate will possess demonstrated leadership skills, superior written and oral communication skills, outstanding interpersonal skills, and strong analytical abilities. Experience managing others or leading projects, programs, or functions is required. Must be able to work both independently and as part of a team, be able to handle deadlines and stressful situations with composure, have the ability to multitask and capacity to process detailed oriented work. We are looking for a hands-on manager with demonstrated effective supervisory experience. Requires financial experience at a decision-making level. Effectively builds support through discussion and compromise. Drives consensus on day-to-day matters to reach agreement where there may be varying points of view. Must have advanced knowledge of Microsoft Office Suite and Excel in particular. May be required to work nights and weekends (>5%). Hybrid schedule
PREFERRED: Master’s degree, MIT experience, (Kuali) Coeus, SAP, Cognos and NIMBUS experience.