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Director of Finance and Operations

1 month ago

Charleston, United States FORVIS | Executive Search Full time
Job DescriptionJob Description

Careers with our clients through FORVIS | Executive Search

The Zucker Institute for Innovation to Commercialization (Zucker Institute) is a key collaborator within the MUSC innovation ecosystem that collectively generates recognition and impact from the enterprise's innovations across the domains of scholarly research, education, and public health. Established as a 501(c)(3) MUSC affiliated organization, Zucker Institute's missions are to evaluate and manage the intellectual property generated by the faculty, staff, and students at MUSC, to lead the commercialization of such intellectual property to ensure it will provide a benefit to the public, and to support and facilitate entrepreneurial and economic development activities that provide opportunities for research funding and elevate MUSC's reputation. This office works closely and collaboratively with leaders from several offices across the MUSC enterprise, including the Office of Innovation, Office of External Affairs, the Office of the Vice President for Research, the MUSC Health innovation team, the Office of Research and Sponsored Programs, and the Office of the General Counsel to achieve its missions.

We are currently seeking a Director of Finance & Operations, reporting to the Vice President of Operations and Business Development, to support the financial and operational aspects of the company. This pivotal role encompasses a broad spectrum of responsibilities, offering the unique opportunity to contribute to our growth and success at both strategic and operational levels. The position is the departmental interface for both MUSC driven and independent audits for the Board of Directors.

Responsibilities

  • Financial Management:
    • Oversee financial matters, including the preparation and monitoring of annual budgets.
    • Manage cash flow, banking accounts, and accounting of investments, including managed funds.
    • Maintain records for equity and notes receivable from the licensing portfolio.
    • Handle MUSC Health funds as they relate to the Zucker Institute, ensuring proper allocation and verification of State Health Innovation Dollars and MUSCP account for payroll.
  • Accounts Management:
    • Manage Accounts Receivable, including invoicing, collection of licensing revenue, and reimbursements.
    • Oversee Accounts Payable, maintain vendor records, and review invoices for accuracy.
    • Manage office credit card accounts and ensure timely and accurate financial transactions.
  • Royalty and Audit Compliance:
    • Calculate, record, and disburse royalty revenue from licensing agreements.
    • Validate royalty distribution sheets and generate quarterly reports for MUSC administrative units.
    • Conduct regular audits and compliance checks for accuracy in financial reporting and royalty distributions.
    • Manage formal royalty audits of licensees by third parties
  • Reporting and Compliance:
    • Prepare financial statements, monthly and quarterly reports, and annual IRS reporting forms.
    • Report financial matters to the Board and ensure compliance with accounting policies.
    • Oversee the annual external audit and prepare State of South Carolina annual non-profit report.
  • Administrative Responsibilities:
    • As directed, prepare agendas, meeting packets, draft minutes, and policies for presentation.
  • Budget Management:
    • Support the creation of annual budgets in consultation with the Senior Leadership Team.
    • Ensure expenditures align with the organization's goals, objectives, and mission.
  • Signature Authority:
    • Responsible for the preparation and signing of financial withdrawals/checks.
    • Facilitate electronic payments and manage account openings/closings as directed.
  • Additional Operational Responsibilities:
    • Collaborate with cross-functional teams to set objectives, timelines, and resources.
    • Ensure adherence to regulatory, client, and industry standards, and maintain ethical practices.
    • Build relationships with key stakeholders, including opinion leaders and potential partners.
    • Manage group agreements and contracts.
    • Provide performance feedback and suggest operational enhancements.
    • Manage data analysis systems and dashboards for efficient data handling.
    • Drive initiatives installed by Senior Management

Qualifications / Requirements

  • Bachelor's Degree in Accounting, Finance, or related field required
  • CPA or CFA is a plus
  • Minimum of 5 years' experience in the field directly applicable to this job description
  • Knowledge and experience with QuickBooks is preferred
  • Experience working with a non-profit or academic institution preferred
  • Experience with auditing highly preferred
  • Strong understanding of accounting principles and financial reporting.
  • Proficiency in accounting software, Microsoft Office, and CRMs.
  • Excellent organizational skills and high level of accuracy.

MUSCP Benefits available:

  • Medical
  • Prescription Drugs
  • Dental
  • Flexible Spending Account
  • Vision
  • Pet Insurance
  • ID Theft
  • Employer provided Disability Coverage
  • Employer provided Long Term Disability
  • Supplemental Long Term Disability
  • Voluntary Supplemental Long Term Disability
  • Employer Provided Life Insurance
  • Voluntary Short Term Disability
  • Voluntary Spouse and Children Life Insurance
  • Retirement Plan
  • Paid Time Off
  • Company Holidays
  • Educational Assistance Program