Summary description: The Director of Finance provides strategic oversight of AACAP’s Department of Finance, including such areas as accounts receivable, accounts payable, banking relationships, reports, auditing, payroll, and investments. This position oversees the financial administration of the American Academy of Child & Adolescent Psychiatry’s (AACAP’s) (c)(3) and American Association of Child & Adolescent Psychiatry’s (AMCAP’s) (c)(6) and PAC. This position also works closely with other areas such as administration, registration, membership services, information systems, and with other senior staff. The position also includes acting in advisory capacity to the Treasurer and the Financial Planning Committee and serves the team leader for finance staff.
SPECIFIC DUTIES AND RESPONSIBILITIES:
1. Oversee day to day operation of accounting function. Ensure that accounts payable and receivable functions are carried out in accordance with accounting standards and AACAP policies. Supervise maintenance of general and subsidiary ledgers under the same guidelines. Ensure that operations are conducted in professional and confidential manner.
2. Enforce established internal controls and recommend changes as necessary.
3. Work with AACAP Treasurer to monitor and manage cash and investment balances. Coordinate the development and implementation of investment strategy and monitor execution of strategy by outside investment counsel to ensure that AACAP policies are followed and that portfolio objectives are met.
4. Develop, maintain, and ensure compliance with policies and procedures relative to financial functions; perform internal control reviews on periodic basis; recommend and implement changes as needed to ensure safeguarding of AACAP assets and accurate financial reporting.
5. Ensure all business policies and accounting practices are documented and remain current.
6. Oversee the financial administration of and serve as Treasurer for AACAP’s PAC, the Political Action Committee, to ensure sound financial management and compliance with applicable federal election laws.
7. Coordinate year end audit and other contacts with outside audit firm, including Uniform Guidance Single Audit (formerly A 133). Provide information required for preparation of all required tax filings. Act as contact with audit firm on any issues relative to accounting, auditing, taxation, or financial reporting.
8. Lead and manage all aspects of the annual budgeting process to ensure it is completely and accurately presented to the Financial Planning Committee, Executive Committee, and Council. This includes guiding senior staff and volunteer leadership through the process, establishing timeline, training new employees, and taking lead with the special funds.
9. Act as primary contact with banking institutions. Ensure that AACAP funds are available as needed and that excess cash balances are invested to maximize returns while maintaining liquidity. Initiate wire transfers.
10. Prepare timely monthly financial statements for Treasurer, Executive Director, and internal staff. Review results with senior staff to determine variances and updated forecasts; and recommend alternative courses of action based on results. Prepare financial reports as required by Executive Committee and Council, including timely year-end close.
11. Serve as back-up to process payroll.
12. Review semi-monthly payroll journals as part of internal control process. Ensure that changes to the payroll system are properly documented and have appropriate approval, if required.
13. Ensure that the project costs for Government Grant programs are accurately calculated and allocated. Ensure that financial requirements of Federal or other outside grants are met on timely basis.
14. Monitor and evaluate financial performance and keep member and staff leadership apprised of financial status.
15. Respond to inquiries from member and staff leaders regarding AACAP’s finances.
16. Maintain chart of accounts. Review and edit as needed to maximize efficiency.
17. Work with Membership Department on maintenance of membership database to ensure integrity of information relative to dues billings and other financial activities. Also, work with Membership on recording dues related activity, such as reconciliation and transmittal of dues collected for regional organizations.
18. Serve as staff liaison to Financial Planning Committee and Grants Oversights Committee.
19. Monitor changes in Generally Accepted Accounting Procedures (GAAP), Tax and Legal regulations which may affect AACAP and update procedures appropriately.
20. Work with tax authorities to apply for and maintain tax exemption status in states where AACAP conducts business.
21. Review coverage and premiums for business insurance to ensure appropriateness.
22. Motivate and implement training programs for team members to develop skills and clarify roles and responsibilities while building a supportive team environment.
23. Review and update Finance SOPs to clarify roles and responsibilities.
24. Work with Directors, Members and Committees to support AACAP’s mission and policies.
25. Serve as active member in AACAP’s Retirement Investment Committee.
26. Perform other related duties as assigned by Executive Director.
1. Bachelor’s degree in accounting, business, or finance; CPA and/or related graduate degree preferred. 2. Minimum of ten years of progressive accounting experience with a leadership background and five or more years in a non profit environment 3. At least five years of management and supervisory experience for managing the department. 4. Knowledge and experience working with federal grants and agreements as covered under OMP Circulars A122 and A133 (now Uniform Guidance Single Audit and Federal indirect cost rates. 5. Experience managing the finances of a 501(c)(3) and 501(c)(6). 6. Solid experience in coordinating audit activities and managing reporting, accounts payable and receivable, general ledger, fixed assets, and accounting for investments. 7. Proven experience in the implementation of operational best practices. 8. Outstanding analytic, organization and problem-solving skills for strategic data interpretation versus simple reporting. 9. Strong computer skills. Must have expert proficiency in Excel and other MS Office applications and accounting software. Knowledge of Association Management Systems (AMS) or membership database systems. 10. Excellent interpersonal and communication skills, ability to interact with all levels of staff and members and to explain accounting terms to non-accountants, experience in effectively communicating key data, including presentations to senior management and Board.
Additional Salary Information: Starting salary will be externally competitive and internally equitable based tranining, education, relevant association experience. All qualified applicants encouraged to include cover letter with resume' for immediate consideration.
Internal Number: HBF05142018
About American Academy of Child & Adolescent Psychiatry
The Mission of the American Academy of Child and Adolescent Psychiatry is to promote the healthy development of children, adolescents, and families through advocacy, education, and research, and to meet the professional needs of child and adolescent psychiatrists throughout their careers.
The Academy is a 501(c)(3) non-profit membership based organization, composed of over 9,200 child and adolescent psychiatrists and other interested physicians. Its members actively research, evaluate, diagnose, and treat psychiatric disorders and pride themselves on giving direction to and responding quickly to new developments in addressing the health care needs of children and their families.
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