Sr. Manager, Finance

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The Office of Technology Transfer (OTT) has an exciting job opportunity for a Sr. Manager, Finance to work at the Converge Building (Miami) location.

CORE JOB SUMMARY

The Senior Manager, Finance leads and supports the organization’s financial activities such as forecasting, budgeting, strategic planning, and treasury with the goal of enhancing profitability and cash flow management. Further, the Senior Manager, Finance oversees department staff to ensure that activities are always compliant with applicable rules and regulations.

CORE JOB FUNCTIONS

• Works with Wellspring or equivalent, the OTT database, to manage financial aspects of patenting and licensing.

• Manages and prepares the departmental budget, including revenue and operational expenses.

• Compiles and analyzes financial information, develops integrated revenue/expense analyses for management.

• Forecasts future OTT revenue and expenses based on office productivity set by upper management, performs reconciliation of internal accounts, projects business cash flows.

• Reports quarterly to management on variances from the established budget, and the reasons for those variances.

• Prepares financial forms (IDRs, BEFs, Purchase Orders, work orders, check requisitions, etc., for department), processes and submits invoices for payment.

• Ensures proper payments are received (correspond w/non-compliant stakeholders) – specifically confirm that licensees are complying with the obligations of their license by comparing payments to quarterly reports or on-line information for company sales performance and/or business milestone performance.

• Distributes and processes all incoming legal invoices for payment.

• Processes intake of royalty distribution payments, monitor payments to be received in compliance w/agreements, calculate and distribute royalties to principal investigators and departments according to royalty distribution policy.

• Analyzes, maintains, manages and reviews internal finance systems in accordance with administrative internal processes, managing intellectual property database (Wellspring or equivalent) and financial and budgeting software.

• Prepares and submits deposits to medical finance office.

• Conducts payable and receivable invoicing.

• Responds to internal/external customer inquiries related to annual revenue tax reports, AUTM reports, variance reports, final invention statements.

• Advises management of unusual trends, funding levels and expenditures, assists with budget development by compiling information to support projected expenditures in specific areas such as operating costs or travel costs.

• Assists with reporting to the federal government in relation to grant supported inventions (iEdison updates).

• Engages in ongoing cost reduction analyses in all areas of the department.

• Engages in benchmarking studies to establish areas of potential operational improvement.

• Reviews data and accounting processes to determine compatibility with University financial systems, provide recommendations as needed.

This list of duties and responsibilities is not intended to be all-inclusive and may be expanded to include other duties or responsibilities as necessary.

Department Specific Qualifications

Education:

Bachelor’s degree in finance or business required. Master’s degree preferred.

Experience:

Minimum 7 years of relevant finance experience required. Appropriate combination of relevant education and/or experience may be considered.

Knowledge, Skills and Attitudes:

• Experience with financial management systems, such as Tidemark and Workday preferred.

• Experience working with databases.

• Knowledge of business and management principles.

• Ability to direct, manage, implement, and evaluate department operations.

• Ability to establish department goals, and objectives that support the strategic plan.

• Ability to effectively plan, delegate and/or supervise the work of others.

• Ability to lead, motivate, develop, and train others.

Additional Responsibilities:

Under the guidance of the Director, Technology Transfer, the Sr. Finance Manager, is responsible for the development and maintenance of the annual budgets and business plans for U Innovation, which includes the Office of Technology Transfer (OTT), The Launch Pad (TLP), and Cane Angel Network (CAN). Additionally, the Sr. Finance Manager performs financial analyses for the department’s monthly, quarterly, and yearly financial reports; determines the cause of any significant variances from budget; and presents and discusses findings with respective office Directors and Sr. Business Officer, as well as presenting corrective actions. The Sr. Finance Manager analyzes financial information and prepares financial reports to determine or maintain record of assets, liabilities, profit and loss, tax liability, or other financial activities within the organization. In addition, the individual is responsible for overseeing all financial activity of the OTT, the TLP and the CAN, including invoicing, receipt and distribution of revenues associated with licenses; invoicing and receipt of reimbursements from licensees; and payments to vendors (law firms, patent agents, etc.). The Sr. Finance Manager is also responsible for managing budget in support of licensing activities. This individual works closely with licensing personnel to ensure licensee compliance with financial terms of agreements.

This position reports directly to the Director, Technology Transfer to centralize financial management and develops procedures that efficiently manage financial resources for OTT, TLP, and CAN. In addition, the incumbent collaborates with management of each unit to ensure operational and financial success for U Innovation and Identifies new opportunities for growth, optimizes resource allocation and strategizes on long-term planning:

• Ensures on-budget spending and provides budget breakdowns and balances, as needed.

• Provides support to determine departmental efficiencies/deficiencies to allocate/relocate resources and improve overall performance and profitability.

• Consults on financial analyses of yearly, quarterly, and monthly reporting of budgets, revenue, variances, and projection reviews.

• Fosters accountability and engagement from department unit management.

• Improves the quality and timelines of financial reporting, making all financial data readily available and accessible under one centralized unit.

Policy Management

• Maintains a documented system of accounting policies and procedures to ensure compliance with all University policies, federal and state regulations as required.

• Manages outsourced functions – including consulting agreements with entrepreneurs, and intellectual property law firms.

• Develops and suggests streamlining processes in accordance with university wide administrative standard operating procedures (SOPs) (Purchasing, Receivables/Payables, Deposits).

• Reviews data and accounting processes to determine compatibility with university financial systems, provide recommendations as needed.

• Streamlines financial systems and procedures for easy data traceability (inventions, patents, agreements, and financial archiving).

Staff Management

• Manages Financial Analysts and submits performance goals and evaluations based on the University based TALK sessions in addition to any other job specific training and development, as needed.

• Engages with analysts daily for team huddles and check-ins; in addition to weekly 1-1 meetings and Finance team updates.

• Manages a revenue focused Financial Analyst and supervises their duties such as gathering documentation for manager to process incoming payments, reviews bank reports, maintains revenue tracker daily, assists manager in revenue distribution, prepares revenue invoices for OTT license agreements, works with setting up suppliers for distributions and W9s, ensures all revenue checks are cashed or due diligence before sending to unclaimed property, maintains OTTFinance inbox, maintains a master list of suppliers for distributions, etc.

• Manages an expense focused Financial Analyst and supervises the correct processing of paying invoices from outside services, such as law firms, consulting, patent expenses, commercialization expenses (Tremonti and Computer Packager), office services such as DocuSign, Iron mountain, Shred-it, prepares and gather information on POs including change orders as needed, maintains office expenditures for supplies, employee travel, office needs, meeting subsistence, etc., to ensure they are within budget restraints, prepares patent expense breakdowns, maintains OTTLawInvoices inbox, maintains a master contact list of all vendors, works with AP on any issues and unpaid expenses, etc.

Reporting – U Innovation

• Conducts monthly review of budget status for all U Innovation units and informs respective directors of any issues, as needed.

• Prepares quarterly financial variance and projection reports for U Innovation and works with directors of each unit on any significant discrepancies or corrective actions.

• Generates monthly reports summarizing financial information for HIH and CAN.

• Assists with A/P, A/R reports and ad hoc reporting requests as needed.

• Creates additional and miscellaneous financial reports and analysis when requested by upper management.

• Assists with iEdison, VA, AUTM and other departmental reports for all U Innovation units.

• Reviews and collaborates with Controller’s office on Unrelated Income Tax and employees with IP Revenue reports.

• Submits Federal and State foreign source income reports for Internal Audit and Compliance at the University.

Financial Planning/Budget – U Innovation

• Monitors, reconciles, and assists with fiscal administration for the U Innovation departments, including but not limited to budgets, funding, grants, endowments, contracts, travel and/or purchasing.

• Manages and prepares the departmental budget revenue and operational expenses for U Innovation departments and assists in the formulation of overall strategic direction.

• Reports to management on variances from the established budget, and the reasons for those variances, in addition to entering this information in the budget system on a quarterly basis.

• Projects department revenue and expenses every quarter and enters explanations into budget system with management approval.

• Prepares all financial planning for each Fiscal Year including position planning, itemized department budget, costing allocations, budget requests, endowment distributions, long term planning and capital projections. Ensures this information is entered in the financial planning systems (i.e., Tidemark, Anaplan).

• Reviews and approves financial forms such as Purchase Orders, work orders, check requisitions, supplier distributions and invoices for payment.

• Manages receivable, billing, collections, and payments received for U Innovation departments, including correspondence w/non-compliant stakeholders – specifically confirm that licensees are complying with the obligations of their license by comparing payments to quarterly reports or online information for company sales performance and/or business milestone performance.

• Allocates and approves all incoming legal, services and goods invoices for payment.

• Processes intake of royalty distribution payments, monitors payments to be received in compliance w/agreements, calculates, and distribute royalties to principal investigators and departments according to royalty distribution policy, prepares and approves entries for royalty distribution schedules.

• Analyzes, maintains, manages, and reviews internal finance systems in accordance with administrative internal processes, managing two intellectual property databases (Wellspring or equivalent) and financial and budgeting software (OnBase, Workday)

• Prepares and submits deposit of Ad Hoc entries for all online payment methods in addition to reviewing all check payments before depositing.

• Respond to internal/external customer inquiries related to annual revenue tax reports, iEdison reports, AUTM reports, variance reports, etc.

Accounting and Financial Analysis – U Innovation

• Forecasts future revenue and expenses based on office productivity set by upper management, performs reconciliation of internal accounts, and projects business cash flows.

• Approves all financial transactions to ensure correct accounting of expenses and incoming revenue and acts as Cost Center manager for all U Innovation departments.

• Compiles and analyzes financial information, develops integrated revenue/expense analyses, projections, reports, and presentations.

• Creates and analyzes monthly, quarterly, and annual reports and ensures financial information has been recorded accurately.

• Identifies trends and developments in competitive environments and presents findings to senior management.

• Advises management of unusual trends, funding levels and expenditures, assists with budget development by compiling information to support projected expenditures in specific areas such as operating costs.

• Assembles spreadsheets and draw charts and graphs, as needed to illustrate technical reports.

• Maintains knowledge and stay abreast of developments in the fields of industrial technology, business, finance, and accounting.

• Monitors fundamental economic, industrial, and corporate developments through the analysis of information obtained from financial publications and services, investment banking firms, government agencies, trade publications, company sources, etc.

• Engages in ongoing cost reduction analyses in all areas of the departments, and report on any issues to management.

• Engages in benchmarking studies to establish areas of potential operational improvement.

• Interprets the department’s financial results to management and recommend improvement activities.

• Compiles key business metrics and reports them to management.

• Creates additional analyses and reports as requested by management.

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Job Status:

Full time

Employee Type:

Staff