Financial Operations Manager (IS-0501-12)
Application Deadline: 1 May 2024
Department: Center for Folklife and Cultural Heritage
Employment Type: Full Time
Location: Washington, DC
Reporting To: Associate Director
Compensation: $99,200 - $105,812 / year
Description
OPEN DATE: April 3, 2024
CLOSING DATE: May 1, 2024 (This job will close once 150 applications are received which may be sooner than the closing date.)
POSITION TYPE: Trust Fund
APPOINTMENT TYPE: Indefinite
SCHEDULE: Full Time
DUTY LOCATION: Washington, DC
Position sensitivity and risk: Non-sensitive (NS)/Low Risk
Open to all qualified applicants
What are Trust Fund Positions?
Trust Fund positions are unique to the Smithsonian. They are paid for from a variety of sources, including the Smithsonian endowment, revenue from our business activities, donations, grants and contracts. Trust employees are not part of the civil service, nor does trust fund employment lead to Federal status. The salary ranges for trust positions are generally the same as for federal positions and in many cases trust and federal employees work side by side. Trust employees have their own benefit program and may include Health, Dental & Vision Insurance, Life Insurance, Transit/Commuter Benefits, Accidental Death and Dismemberment Insurance, Annual and Sick Leave, Family Friendly Leave, 403b Retirement Plan, Discounts for Smithsonian Memberships, Museum Stores and Restaurants, Credit Union, Smithsonian Early Enrichment Center (Child Care), Flexible Spending Account (Health & Dependent Care).
Conditions of Employment

• Pass Pre-employment Background Check and Subsequent Background Investigation for position designated as low risk.
• Complete a Probationary Period
• Maintain a Bank Account for Direct Deposit/Electronic Transfer.
• The position is open to all candidates eligible to work in the United States. Proof of eligibility to work in U.S. is not required to apply.
• Applicants must meet all qualification and eligibility requirements within 30 days of the closing date of this announcement.

OVERVIEW
This position is located in the Smithsonian Folkways Recordings (SFR) division, at the Center for Folklife and Cultural Heritage (CFCH). SFR operates as a division within the CFCH with the mission of serving as a nonprofit, mission-driven record label company and fulfillment center as well as having curatorial oversight of an extensive archival collection of musical and sound recordings.
The purpose of this position is to develop and execute a comprehensive program of financial policy and management for Smithsonian Folkways Recordings (with gross annual revenues of over $3M) and the Ralph Rinzler Folklife Archives and Collections (RRFAC).
DUTIES AND RESPONSIBILITIES
Financial Operations and Accounting
This position oversees the budget process for SFR, as well as its integration with the overall CFCH budget. The employee develops and presents budgets; prepares justifications for estimates; consolidates and validates input from various department heads; oversees all aspects of Financial Operations for Royalties, Licensing, Manufacturing, Accounts Receivable and Inventory; determines priorities for all fiscal activities; performs duties associated with the management and control of resources and funds, including the review and approval of all expenditures; and ensures the creation and maintenance of an effective internal control structure. The employee reviews the aging of accounts receivable; oversees collection efforts; and authorizes all needed write-offs and/or reserves for anticipated uncollectible accounts. The employee manages and maintains the SFR NetSuite accounting system by reviewing all entries, validating financial reports, and reconciling data to the Smithsonian accounting system on a monthly basis. The employee performs a range of auditing duties associated with either financial or operational audits of SFR programs, including reviewing reports for discrepancies and errors; reviews the programs or organization's degree of compliance with principles of sound financial management; and determines the appropriateness of spending to ensure maximum efficiency and cost control.
Financial Analysis and Advising
The employee analyzes and forecasts the usage of funds within the program. The employee computes and predicts effects of changes in methods and processes; analyzes information with respect to production costs, cost of goods sold, profit and loss, sales history, royalty outlays and licensing revenue, and inventory management; and plans and conducts studies to determine the requirement for updated financial information.
The employee provides analysis and advice on financial matters to management, department heads, and various support units; advises and assists the Directors of Smithsonian Folkways Recordings in evaluating, planning, developing and implementing policy as it pertains to finance and administrative issues; provides advice and assistance on financial matters, and makes recommendations when necessary to meet extraordinary situations; provides SFR management team with procedural and regulatory guidance concerning availability of or limitation on the use of funds; supplies financial reports to operating program officials for informational and planning purposes; and serves as liaison with staff and various departments in financial matters.
The employee prepares reports containing analysis and recommendations for change when appropriate.
Procurement
As designated Procurement Officer for Smithsonian Folkways Recordings with delegated authority for purchases of up to $10,000, the employee handles all procurement for manufacturing, printing, production services, and all other routine office expenses; oversees financial transactions and recordkeeping for all SFR transactions, including supplies, services, travel, and equipment; manages purchase card transactions, the execution and approvals of purchase orders, and requisitions. Ensures adequacy and appropriateness of requests as well as compliance with SI policy and federal procurement regulations; routes contracts to appropriate SI office for review in order to protect SFR interests; and recommends action on unusual expenditures which require approvals from the SI Office of the Comptroller.
Supervisor
The employee supervises up to three staff positions. He/she assigns work and work schedules; approves/disapproves leave; prepares written performance plans and performance appraisals; provides training to facilitate the employee's successful performance; resolves informal employee complaints and grievances, initiates disciplinary action as needed, and nominates employees for awards to recognize superior performance. The employee actively supports the Smithsonian's commitment to equal opportunity and diversity and applies these concepts in hiring, promoting, training, and developing employees; works with higher management to identify career growth opportunities for women and minorities; develops outreach activities designed to attract women and minority candidates; and communicates to employees periodically the Smithsonian's commitment to these principles in memoranda, meetings and public appearances.
QUALIFICATION REQUIREMENTS
Education To qualify for this position, applicants must possess a bachelor's degree (B.S.) in Accounting from an accredited four-year college or university and/or 3-5 years of related experience (described below); or an equivalent combination of education and experience.
Experience required for this position is as follows:

• Expert knowledge of NetSuite cloud business software suite
• Expert knowledge of the regulations, procedures, principles, concepts and practices governing budgeting, accounting and procurement to effectively manage an organization's financial programs and activities.
• Ability to conduct financial analyses to forecast budget needs, identify trends, make predictions, and evaluate financial information such as production costs, cost of goods sold, profit and loss, sales history, royalty outlays and licensing revenue, and inventory, etc.
• Ability to audit financial information and develop strategies for resolving discrepancies and errors.
• Ability to implement and maintain an effective internal control structure.
• Knowledge of both the legal requirements and standard practices of artist royalties, mechanical royalties, licensing, manufacture and tracking of music product inventory, and music distribution to develop and apply financial management techniques and methodologies.
• Ability to lead, direct, assign work and monitor assignments for a diverse staff of subordinates.
• Ability to communicate in writing to prepare reports, create organizational policies and procedures, and develop performance specifications/standards for financial programs and activities.
• Ability to liaise with staff and various departments to provide advice and guidance, present analyses, make recommendations and build and maintain professional relationships.

Applicants, who wish to qualify based on education completed outside the United States, must be deemed equivalent to higher education programs of U.S. Institutions by an organization that specializes in the interpretation of foreign educational credentials. This documentation is the responsibility of the applicant and should be included as part of your application package.
Any false statement in your application may result in your application being rejected and may also result in termination after employment begins.
The Smithsonian Institution values and seeks a diverse workforce. Join us in "Inspiring Generations through Knowledge and Discovery."
Resumes should include a description of your paid and non-paid work experience that is related to this job; starting and ending dates of job (month and year); and average number of hours worked per week.
What To Expect Next: Once the vacancy announcement closes, a review of your resume will be compared against the qualification and experience requirements related to this job. After review of applicant resumes is complete, qualified candidates will be referred to the hiring manager.
Relocation expenses are not paid.
Commitment to Diversity, Equity, and Inclusion The Smithsonian Institution provides reasonable accommodation to applicants with disabilities where appropriate. Applicants requiring reasonable accommodation should contact SmithJM@si.edu . Determinations on requests for reasonable accommodation will be made on a case-by-case basis. To learn more, please review the Smithsonian's Accommodation Procedures.
The Smithsonian Institution is an Equal Opportunity Employer . We believe that a workforce comprising a variety of educational, cultural, and experiential backgrounds support and enhance our daily work life and contribute to the richness of our exhibitions and programs. See Smithsonian EEO program information: www.si.edu/oeema.