ABOUT SOCIETY FOR MATERNAL-FETAL MEDICINE
The Society for Maternal-Fetal Medicine (SMFM or the Society), based in Washington, DC, is the national voice for clinicians and researchers with expertise in high-risk pregnancy. The Society is a 501(c)(6) non-profit association representing more than 6,300 individual members. The core membership is comprised of maternal-fetal medicine (MFM) subspecialists. MFM subspecialists are obstetricians with additional years of formal training and a board certification in maternal-fetal medicine, making them highly qualified experts and leaders in the care of complicated pregnancies.
The Foundation for SMFM (Foundation) is a 501(c)(3) non-profit created to promote the career development of young investigators whose research will advance the field of maternal-fetal medicine and improve the care of individuals with high-risk pregnancies. The first research scholarship was awarded in 1992, and in recent years the Foundation has expanded its award programs to include funding opportunities for members of the Society for Maternal-Fetal Medicine (SMFM) at various career stages and practice settings. The Foundation's programs offer opportunities to improve pregnancy outcomes through research and clinical training grants, global health initiatives, and mentoring the next generation of clinicians and scientists.
JOB PURPOSE
The Controller will have hands on responsibility for accounting and financial operations of both the Society and the Foundation, which includes oversight and responsibility for the general ledger, accounts receivable, accounts payable, fixed assets, budget, and audit/taxes. Other responsibilities include leading, developing, and supervising the Accounting team; managing a portfolio of government, foundation, and corporate grants and contracts, as well as private donations; managing banking, investment manager, and vendor relationships; and ensuring appropriate internal controls and adoption of industry best practices.
ESSENTIAL FUNCTIONS & RESPONSIBILITIES
Finance and Accounting:
Ensure accounts, ledgers and reports comply with US GAAP and regulatory requirements.
Prepare, review, and approve financial statements according to the accrual accounting method, reporting package and month-end entries for accuracy and timely distribution to management and Treasurers. Monitor and evaluate financial performance monthly to keep all staff apprised of financial status and budget reconciliation.
Prepare financial analysis, forecasting and reporting to staff, senior leadership, and board of directors for both the Society and the Foundation.
Serve as primary point of contact with outside auditors to coordinate audit activity.
Serve as Finance lead on tax compliance and reporting. Oversee the preparation and required filings of annual tax reporting including but not limited to the IRS Forms 990, 990-T, 1099, 1098, and unclaimed property filings as well as all state tax and charitable registration filings.
Administer endowment and donation accounting; approve thefication of all new gifts and pledges based on guidelines; review endowment unitization and market value; calculate the annual payout based on the current spending rate guidelines; ensure all restricted and unexpended payout funds are appropriately used and applied to the extent possible.
Recommend and implement improvements for accounting processes to increase efficiency and accuracy.
Provide guidance to stakeholders on finance and accounting best practices to support effective program implementation.
Perform other related duties, as assigned.
Payroll & Expense Management:
Submit payroll in a timely and accurate manner to the payroll processing service; reconcile payroll with accounting records.
Serve as the point-of-contact for payroll issues; advise and direct staff to the right source of information within SMFM’s PEO (currently TriNet); follow up and advocate on behalf of SMFM employees before the PEO.
Reconcile leave status for staff with payroll and leave requests.
Reconcile expense reports for staff for reimbursement with payroll.
Grants Management
Manage and optimize grants, and indirect costs from government, foundation, and corporate sources. Manage grant reporting requirements with project team(s), including budget development and reconciliation.
Oversee all project/program and grants accounting; ensure that expenditures are consistently aligned with grant and program budgets throughout the grant/fund period.
Timely submit Federal grant drawdown requests/invoices and ensure that all federal financial reporting is submitted timely and accurately. Create and manage a grant management tracking system. Oversee and monitor contracts, grants and budget implementation to ensure compliance with contract requirements.
Ensure compliance with all Uniform Guidance related compliance requirements.
Annual Budget Process:
Lead the annual budget process and the monthly department budget review.
Monitor and report on budget to actual performance at the organization(s) and department level.
Recommend creative solutions to budgetary challenges.
Develop and support multi-year budget projections and trend analysis.
Cash Management and Investments:
Prepare cash flow projections, monitor operating account balances, and recommend necessary cash transfers.
Review monthly investment reconciliations and investment performance to ensure investment mix is in compliance with the current Finance Committee guidelines; assist with evaluation of the effectiveness of the investment advisors; coordinate approval of fund transfers with investment custodian; record and distribute endowment income to appropriate funds; develop special internal reports for users.
Internal Controls:
Develop, communicate, update, and monitor Finance and Accounting policies and procedures.
Review and update Finance SOPs to clarify roles and responsibilities.
Coordinate with Finance management to assign system rights and responsibilities to ensure separation of duties with appropriate access.
Enforce established internal controls and recommend changes, as necessary.
Maintain internal control and safeguards for receipts, payments, fixed assets, and recording transactions.
Team Leadership:
Supervise a staff accountant.
Motivate and implement training programs for team members to develop skills and increase knowledge base; clarify roles and responsibilities while building a supportive team environment.
Embrace diverse and inclusive perspectives across the organization, elevate voices not always heard in analysis and strategy.
Model ability to adapt, prioritize, and thrive in a highly diverse, fast-paced environment.
Understand a variety of perspectives, manage priorities, and decisively meet expectations.
Challenge current practices, thought processes, and perspectives.
Establish, support, and monitor team goals with steps that are realistic and achievable.
GENERAL:
Liaises with the Finance & Audit Committees for the Society and the Foundation.
Ensures Committee calls are scheduled and members have access to the necessary information and documentation prior to calls; assists Chairs in note taking and dissemination.
May be called upon to assist other staff during periods of peak workload and with special projects.
NON-ESSENTIAL FUNCTIONS & OTHER RESPONSIBILITIES
Other duties and special projects as assigned. Oversee project management processes across organizational culture to strengthen cross-functional collaboration among staff, improve work efficiencies, and maintain product and service quality.
DIRECTION RECEIVED
Minimal direction is required. The incumbent exercises wide latitude in determining objectives and approaches to critical assignments. Erroneous decisions and recommendations would result in serious delay to assigned projects and result in substantial expense to the organization.
MINIUMUM REQUIREMENTS & QUALIFICATIONS
- Education: Bachelor’s degree in Accounting, Finance, or Business Administration
- Experience: At least five (5) years of supervisory experience and eight (8) to ten (10) years in progressive experience in finance or accounting with not-for-profit experience preferred
- Experience in grants management and reporting on government, foundation and corporate grants to funders and required external reporting.
- Computer/System Skills: MS Office especially Excel, QuickBooks and Bill.com preferred.
- Certificates, Licenses, Registrations: CPA preferred.
COMPETENCIES (KNOWLEDGE, SKILLS & ABILITIES)
Demonstrated familiarity with non-profit accounting practices, specifically related to Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statement of Not for Profit Entities, ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, and ASU 2014-09, Revenue From Contracts with Customers.
Demonstrated experience in coordinating audit activities and financial reporting as well as managing accounts payable and receivable, general ledger, fixed assets, accounting for investments, and separate entity accounting.
Proven experience in the implementation of operational best practices.
Excellent interpersonal and communication skills, with the ability to interact with all levels of staff and Society governance, and to explain accounting terms to non-accountants.
Strong work ethic; high level of confidentiality, integrity and dependability with a strong sense of urgency and results-orientation.
Ability to effectively communicate key data, including presentations to senior management.
Outstanding analytic, organization and problem-solving skills for strategic data interpretation versus simply reporting of financial results.
Technology-savvy with experience selecting and overseeing software and systems implementations; advanced knowledge of accounting and reporting software, especially QuickBooks.
Advanced Microsoft Office Suite skills, especially Excel and PowerPoint. Experience with Association Management software is desired.
Demonstrated ability to apply innovative and resourceful solutions to solve complex challenges.
Demonstrated experience with full range of payroll-related activities.
Understanding of member/donor-based operations and higher education desirable.