Director of Financial Reporting

Director of Financial Reporting

The Director of Financial Reporting manages the Financial Reporting team and is responsible for overseeing the preparation and delivery of accurate, timely, and compliant financial statements and financial reports for the university. This role ensures adherence to applicable accounting standards, oversees external audits, and leads initiatives to enhance financial reporting processes and systems.

Responsibilities:

• Supervise Financial Reporting staff in month-end, quarter-end, and year-end close activities, including journal entries, account reconciliations, and variance analysis. Maintain and manage close checklists by updating deadlines, assigning preparers and reviewers, and monitoring progress. Ensure journal entries are prepared, reviewed, and approved in accordance with established approval matrices and internal controls;
• Oversee the preparation of the university's accrual-based financial statements, including the collection and aggregation of financial information from component units (related entities). Coordinate the efforts of all concerned, and provide guidance and ensure timely and accurate completion of financial statements;
• Oversee accounting for debt, fixed assets, investments, rental operations, and the accounting for leases/SBITAs/PPPs;
• Oversee implementation of new GASB accounting standards, ensuring compliance with applicable requirements;
• Supervise preparation of the university's annual financial statement package, including Management's Discussion & Analysis (MD&A) and footnotes, ensuring accuracy and timeliness;
• Ensure timely preparation and submission of State Financial Statement Directives, as required by the Code of Virginia for higher education institutions;
• Oversee preparation of quarterly financial reports for senior leadership and other internal financial reports as requested;
• Manage reporting requirements for Foreign Gifts and Contracts, IPEDS, Shanghai GRUP, and other federal and state regulatory filings;
• Support and coordinate financial information required for bond rating agencies, and participate in other University reporting as requested;
• Maintain awareness of evolving reporting requirements from federal, state, and external regulatory bodies;
• Monitor and communicate progress of the annual audit of financial statements, NCAA agreed upon procedures engagement, Single Audit (research and financial aid), and other ad-hoc audits as needed;
• Ensure timely completion and submission of Bond Requisitions to the State Treasury for reimbursement of capital expenditures;
• Oversee timely processing of debt service payments and accurate recording of related journal entries;
• Develop, implement, and enhance accounting policies, procedures, and internal controls, including maintaining the Risk Control Matrix (RCM) for financial reporting;
• Identify and implement process improvements, including automation and use of emerging technologies (e.g., AI), to increase efficiency and reduce risk across accounting systems and processes;
• Lead, mentor, and develop Financial Reporting staff, including hiring, training, performance management, cross training, and succession planning. Oversee workflow management, task delegation, staff productivity, and provide ongoing coaching and constructive feedback. Ensure compliance with policies, procedures, and applicable laws and regulations;
• Establish performance goals aligned with the university's strategic objectives and financial priorities;
• Communicate important information received from senior leadership to Financial Reporting staff in a timely manner;
• Collaborate cross-functionally with departments, schools, and administrative units to ensure accurate and complete financial reporting;
• Oversee Chart of Accounts maintenance; and
• Perform other duties as assigned.

Required Qualifications:

• Bachelor's degree in related field, or equivalent combination of education and experience;
• Certified Public Accountant (CPA);
• Generally, 5-10 years of progressive accounting, auditing, financial analysis, and financial reporting experience;
• Experience with financial and reporting systems such as Ellucian Banner and MicroStrategy;
• Extensive knowledge of financial reporting, U.S. GAAP, and relevant AICPA standards;
• Advance proficiency in MS Excel and other business applications;
• Demonstrated ability to drive process improvements, reduce financial reporting risk, and enhance operational efficiency;
• Strong interpersonal and communication skills, with the ability to effectively collaborate with diverse stakeholders both within and outside the organization;
• Strong analytical and problem-solving abilities; and
• High attention to detail and accuracy.

Preferred Qualifications:

• Master's degree in related field;
• Experience in a higher education or government environment;
• Experience interacting with governing boards, and federal and state agencies;
• Knowledge of fund accounting and GASB standards; and
• Strong understanding of internal controls and risk mitigation strategies.

Instructions to Applicants:

For full consideration, applicants must apply for the Director of Financial Reporting at Complete and submit the online application to include three professional references with contact information, and provide a cover letter and resume for review.