Financial Assurance Officer - Office of Research, Innovation, & Economic Development - UTK

Financial Assurance Officer

The Financial Assurance Officer position ensures financial compliance with university fiscal policies and requirements established by federal, state, and local governments, as well as private entities in relation to sponsored projects; works with the manager and university officials to keep policies and procedures current with changing requirements; monitors/tests the effectiveness of departmental compliance to mitigate risk; identifies potential areas of compliance vulnerability and works with supervisor to develop corrective action plans for resolution of problematic concerns; develops/instructs compliance training programs for UTK. Expenditures for Sponsored Projects ranks as a high-risk area of exposure for compliance for this university with managing an average of 2300 WBS elements whose expenditures totaled $317M in FY2024. Applicants are expected to report in person or live within a commutable distance for occasional telecommuting work.

Responsibilities

Compliance Monitoring:

• Be a subject matter expert in the area of financial compliance of sponsored projects by:
  • Stay abreast of changes in federal regulations, such as 2 CFR Part 200 Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
  • Attend professional conferences to keep informed of new developments and networking with other professionals,
  • Provide guidance to department Research Accountants and campus community in the interpretation of policies and federal regulations,
  • Research compliance programs at other institutions and Federal agencies to gather ideas for developing monitoring platforms, and
  • As part of a collaborative effort, provide recommendations for revisions of university and campus fiscal policies and procedures to senior administration to mitigate risk associated with non-compliance.
• Use data analytics to develop reports to monitor areas of high risk. Work with units that have been identified as high risk and develop plans and/or processes to mitigate risks. Periodically review the plans/process to determine if reducing the risk was mitigated or needs further action.
• Collaborates with HURON and DASH in developing reports and programmatic changes to improve financial compliance, disseminate changes to the campus research administration community, follow up on the changes to ensure the outcomes were what was intended and if not, continue to problem solve

Training:

• Develop and conduct training on for sponsored projects accounting for compliance with UT fiscal policies, federal guidelines and based on best practices.
• Assess training needs for new and existing employees for sponsored projects financial compliance, including Principal Investigators, departmental accounting staff, staff internal to the Division of Research Administration. This may include:
  • Organize and develop training programs to meet specific training needs,
  • Develop training aids such as manuals and handbooks,
  • Provide training outline for individual employees.
• Track and report on training outcomes.
  • Design and apply assessment tools to measure training effectiveness.
  • Maintain employee training records.
  • Provide feedback to program participants and management.
  • Evaluate and make recommendations on training material and methodology.
• Keep current on training design and methodology by researching industry standards.
• Manage and maintain in-house training facilities and equipment.
• Provide ad hoc or specialized training upon request.

Audit Activities

• Plan, coordinate and facilitate departmental financial compliance reviews for sponsored projects, noting areas of concern and make recommendations to mitigate risks. Report findings and recommendations to departmental management. Follow up on findings to ensure any actions taken did reduce the compliance risks. If not, continue to work with the department and if warranted, escalate to a senior management, such as manager or director.
• Coordinate documentation from departments/faculty upon external audits requests, analyze the data received, mitigate any potential risks by researching the terms and conditions of the sponsored project, and seeking further details from the Principal Investigators and their accounting staff on the allowability of the questioned costs. If any areas of concerns arise, work with departments and Principal Investigators to address the issues and develop plans and procedures to immediately correct going forward.
• Upon receiving the final audit report, this position will be part of team to provide input to develop action plans on any audit findings to mitigate future risks for the campus. This position will continue to monitor to ensure the university is following the action plans put into place or if any adjustments are needed.

Other Activities:

• Outreach to faculty and staff to see what areas of financial compliance that they have concerns. This entails researching the concern, providing feedback and best practices, and may develop into future trainings or campus processes.
• Notify campus of changes to fiscal policy and federal regulations that impact financial compliance for sponsored projects via newsletters, meetings, and email communications.
• Represent Division of Research Administration in various meetings or committees.
• Work on ad hoc special assignments or projects as assigned by Compliance Manager or Director.
• Review sponsored project awards and modifications to identify and conduct mandatory compliance training.

Qualifications

Required Qualifications

Education:

• Bachelor's degree any related field.

Experience:

• Three years of related work experience with background in accounting, auditing, risk assessment or regulatory compliance. Must have experience with computer systems, including spreadsheet software (such as MS Office).

Knowledge, Skills, Abilities:

• Knowledge of research administration issues including financial management and the ability to interpret and communicate federal, state, and local laws and regulations relevant to research administration operations, policies, and procedures.
• Ability to communicate effectively, including active listening skills, plus the ability to work with a diverse group of faculty, staff, administrators, and other stakeholders.
• Ability to be detail-oriented with strong organizational and problem-solving skills.
• Ability to provide excellent customer service with a commitment to exceptional quality.
• Ability to think analytically, quantitatively, creatively, and strategically.
• Ability to be an independent thinker with professional skepticism.
• Ability to be a team player who works well collectively and collaboratively with colleagues to achieve common goals.
• Knowledge of Microsoft Office.
• Ability to use judgement skills in the determining compliance and the knowledge to implement process to mitigate risk.
• Ability to develop and conduct training.

Applicants must be legally authorized to work in the United States on a full-time basis without need now or in the future for sponsorship for employment-based visa status.

Preferred Qualifications

Education:

• Master's degree in any related field.
• Certified Research Administrator, Certified Professional Accountant, Certified Internal Auditor.

Experience:

• Prior financial experience in working with research grants and awards.
• Oracle/DASH experience.
• Experience in higher education administration with knowledge of federal cost accounting principles.

Knowledge, Skills, Abilities:

• Knowledge of UT fiscal, human resource, and research policies.
• Knowledge of Uniform Guidance, Federal Acquisition Regulations, and granting agency requirements.
• Knowledge of IRIS and Cayuse.

Work Location

• Location: UT Knoxville
• Onsite with occasional opportunity to telecommute
• Applicant must live in Knoxville or within a commutable distance

Compensation and Benefits

• UT market range: MR13
• Anticipated hiring range: $67,000-$82,000
• Find more information on the UT Market Range structure here
• Find more information on UT Benefits here

Application Instructions

To express interest, please submit an application with the noted below attachments.

• Resume
• Cover Letter