What are the responsibilities and job description for the Director of Revenue Accounting position at The Rector & Visitors of the University of Virginia?
The Director of Revenue Accounting will be responsible for overseeing all aspects of revenue accounting and revenue recognition policies and procedures, ensuring accuracy and compliance with relevant accounting standards and regulatory requirements. This role is crucial in supporting strategic financial planning and decision-making processes by providing accurate and timely financial information. Experience with Epic and Kodiak (RCA) tools is preferred.
In this role, the incumbent can expect to:
*Own revenue month-end close processes including preparing journal entries, account analysis and reconciliation to deliver timely and accurate financial results
*Oversee the design, implementation and execution of scalable and effective revenue processes for a more efficient close and strong control environment
*Review customer contracts to ensure compliance with company policies and ASC 606
*Prepare monthly and quarterly revenue reporting and analytical materials
*Establish formal accounting policies in accordance with US GAAP, prepare technical revenue accounting memos and monitor relevant US GAAP developments to ensure revenue recognition policies are compliant
*Determine healthcare accounts receivable reserve and claims loss calculation methodologies suitable for the business
*Lead the revenue accounting team, ensuring accurate and timely monthly, quarterly, and annual revenue reporting.
*Develop and implement effective revenue recognition policies and procedures in accordance with GAAP, FASB, GASB, and other applicable accounting standards
*Collaborate with the sales, legal, and operations teams to review contracts and agreements for revenue recognition implications and ensure compliance with the company's revenue recognition policy.
*Oversee the preparation and analysis of revenue forecasts, budgets, and variance analyses.
*Ensure timely and accurate completion of revenue-related account reconciliations and journal entries.
*Monitor and analyze revenue streams to identify trends, opportunities, and risks, providing actionable insights to senior management.
*Stay abreast of changes in revenue recognition standards and assess the impact on the organization, implementing necessary changes to policies and procedures.
*Lead, mentor, and develop the revenue accounting team, fostering a culture of continuous improvement and professional growth.
Successful candidates will be able to demonstrate:
*In-depth knowledge of authoritative guidance relating to the revenue recognition framework for health care entities under GASB standards.
*In-depth knowledge of revenue recognition standards (ASC 606/IFRS 15) and experience in their application in a complex business environment.
*Strong analytical and problem-solving skills with a strategic mindset.
*Excellent leadership and team management abilities, with a proven track record of developing high-performing teams.
*Exceptional communication and interpersonal skills, with the ability to interact effectively with all levels of the organization and external parties.
*Proficiency in Epic, Crowe, ERP systems and Microsoft Office suite, particularly Excel.
*Detail-oriented with strong organizational and project management skills.
- Lead and manage the organization's accounting operations, including general ledger, cash operations, and revenue accounting.
- Ensure timely and accurate financial reporting in compliance with applicable standards (GAAP, IFRS, etc.).
- Oversee the preparation of monthly, quarterly, and annual financial statements.
- Develop and maintain internal controls to safeguard financial assets and ensure the integrity of accounting information.
- Manage and optimize cash flow, including monitoring daily cash operations and overseeing accounts receivable and payable.
- Collaborate with cross-functional teams to enhance financial strategies and support business objectives.
- Supervise the accounting team, providing mentorship, training, and development opportunities.
- Ensure compliance with all regulatory reporting requirements and tax filings.
- Conduct regular financial reviews and audits to identify areas of improvement and implement corrective actions.
- Support the annual budgeting process and long-term financial planning initiatives.
- Act as the primary liaison between accounting and external auditors during audits.
- Implement and refine accounting policies, procedures, and systems to improve efficiency and accuracy.
- Provide strategic insights and recommendations to executive leadership based on financial performance and trends.
MINIMUM REQUIREMENTS
Education: Bachelor's degree in Accounting, Finance, or a related field required. Master's degree strongly preferred.
Experience: Minimum of 10 years of progressive experience in accounting, with at least 5 years in a leadership role managing accounting operations required.
Licensure: CPA (Certified Public Accountant) certification strongly preferred.
PHYSICAL DEMANDS
This is primarily a sedentary job involving extensive use of desktop computers. The job does occasionally require traveling some distance to attend meetings, and programs.
The starting base rate for this role is $133,016.00 annually. Individual compensation will be determined by the selected candidate's qualifications, previous work experience, and/or education.Benefits
Comprehensive Benefits Package: Medical, Dental, and Vision Insurance
Paid Time Off, Long-term and Short-term Disability, Retirement Savings
Health Saving Plans, and Flexible Spending Accounts
Certification and education support
Generous Paid Time Off
UVA Health is a world-class Magnet Recognized academic medical center and health system with a level 1 trauma center. 2023-2024 U.S. News & World Report "Best Hospitals" guide rates UVA Health University Medical Center as "High Performing" in 5 adult specialties and 14 conditions/procedures. We are one of 70 National Cancer Institute designated cancer centers. UVA Health Children's is named by 2023-2024 U.S. News & World Report as the best children's hospital in Virginia with 9 specialties ranked among the best in the nation. Our footprint also encompasses 3 community hospitals and an integrated network of primary and specialty care clinics throughout Charlottesville, Culpeper, Northern Virginia, and beyond.
The University of Virginia is an equal opportunity employer. All interested persons are encouraged to apply, including veterans and individuals with disabilities. Learn more about UVA's commitment to non-discrimination and equal opportunity employment.
The University of Virginia, including the UVA Health System which represents the UVA Medical Center, Schools of Medicine and Nursing, UVA Physician’s Group and the Claude Moore Health Sciences Library, are fundamentally committed to the diversity of our faculty and staff. We believe diversity is excellence expressing itself through every person's perspectives and lived experiences. We are equal opportunity and affirmative action employers. All qualified applicants will receive consideration for employment without regard to age, color, disability, gender identity or expression, marital status, national or ethnic origin, political affiliation, race, religion, sex, pregnancy, sexual orientation, veteran or military status, and family medical or genetic information.
Salary : $133,016