What are the responsibilities and job description for the Research Finance Accountant position at Vanderbilt University?
Position Summary:
This position is responsible for the post-award administration function of Letter of Credit (LOC) draws as part of the Research Finance Accounting team. The accountant will be required to maintain and adhere to a complex schedule of draws to ensure that all funds are available when requested and appropriately recorded and reconciling with the grant’s module and ultimately the general ledger.
About the Work Unit:
Research Finance strives for excellence in providing support and oversight in administratively managing sponsored projects, monitoring associated financial compliance requirements in accordance with sponsor regulations and university policies, and providing analytical and cost accounting expertise to the management of Vanderbilt’s research enterprise. Research Finance includes the Grant Analysts that provide central oversight for project expenditures, financial reconciliation, financial reporting, and award closeout, the Research Accountants that perform invoicing, cash management and accounts receivable management, and the Data and Cost Analysts that perform cost accounting activities and institutional research reporting as well as award setup and effort certification compliance oversight.
Key Functions and Expected Performance
Responsible for preparing all letter of credit draws for research services including ensuring all necessary documentation is complete and accurate
Expert on process for LOC draws including specific instructions by sponsor to ensure all draws are timely and meet compliance requirements
- Maintain complex schedule of letter of credit draws
Orchestrate letter of credit draws with sponsors in accordance with draw schedules and university policies
Record all LOC draws timely and accurately within Oracle to ensure grants module accurately reflects grants financial position
Investigate and follow up on any letter of credit variances from funds drawn and allowable amounts
Perform Federal Fund bank reconciliations each month adhering to Central Finance deadlines and ensuring receipts are created for all bank statement lines.
Perform cash transaction reconciliations quarterly for LOC agencies.
Identifies debt owner for US Treasury Offset Program offsets.
Identifies opportunities for process improvements and changes to policies and procedures to facilitate automation and fully utilize system capabilities
Assist with preparing invoices for Vanderbilt University Medical Center.
Assist with preparing invoices for milestone based sponsored contracts and awards.
Assist on special projects, as needed
Supervisory Relationships:
This position reports administratively and functionally to the Research Finance Accounting Manager.
Education and Certifications:
A Bachelor’s degree from an accredited institution of higher education is preferred or equivalent experience.
A Bachelor’s degree with an emphasis in accounting is preferred.
Experience and Skills:
Skill in advanced Excel, Word, and PowerPoint applications is necessary.
Time management skills and the ability to work well in a team environment is necessary.
Knowledge of accounting principles and general ledger is necessary.
Understanding of Enterprise Resource Planning (ERP) systems is preferred.
Proven detail-oriented work style in collaboration with effective written and verbal communication skills is necessary.
Ability to build and maintain effective working relationships with a range of people, understanding their needs and goals is necessary.
Ability to work co-operatively with others as part of a team, as opposed to working separately or competitively, is necessary.
Openness to change, adaptability, and the ability to work effectively in a variety of situations, with individuals or groups is necessary.
Ability to understand and appreciate different and opposing perspectives on an issue is necessary.