Job Description
Our Client:
Ravenscroft School is a coed independent school located in Raleigh, North Carolina. The school enrolls students between Prekindergarten and 12th grade and serves 1250 students. The school has three divisions: Lower School, Middle School and Upper School.
The Opportunity:
Our client is seeking an energetic, innovative and strong financial leader for the position of Director of Finance that reports to the Associate Head of School for Business Affairs (CFOO). The Director of Finance will join a dynamic business office with the major responsibility of ensuring the accuracy of the accounting records of the school; supervise Business Office staff.
Role Definition:
Accounting Operations
- Ensure accuracy of continuous record of cash and financial position of the school.
- Distribute and explain financial reports to appropriate directors and leaders as requested.
- Manage bank and trust accounts, project annual cash flow needs and invest surplus cash in appropriate manner for maximum returns.
- Supervise Accounts Payable Process
- Review inventory for year-end adjustments.
- Develop and maintain a chart of accounts and overall fund accounting system consistent with SAIS and FASB guidelines.
- Review and post all miscellaneous cash, donation and manual journal entries.
- Serve as liaison with auditors, oversee annual audit to include analysis and reconciliation of all records and accounts.
- Serve as Financial Aid Committee member responsible for review and distribution of Financial Aid funds to eligible students. Review and distribute financial aid funds - approximately 350-400 applications annually
- Post payroll from UltiPro/UKG and Post payroll tax
- Reconcile payroll statements, and finalize bank reconciliations
- Prepare, review and post manual journal entries
- Review and post donations received from the Advancement Department
- Prepare and report all Bond required documentation quarterly and annually
- Prepare financial reports and documents for Audit, Finance, and Investment Committee meetings
- Compile data for the 990s liaison with the audit firm for filing 990s
Administrative matters:
- Supervise Accounts Receivable Coordinator, review billing, collections and student loan program. Maintains Tuition Terms and Policy and follows up on delinquent accounts.
- Coordinate with Human Resources to review the administration of all benefit programs.
- Meet with the Parents Association several times per year for review of all financial activity
- Assist with the preparation of new Corporate Documents annually
- Correct and approve time sheets and time off requests for direct reports
- Along with others on campus - review and update all enrollment documents
- Assist with and review quotes for Student Tuition Insurance and other school insurances
- Liaison on all banking issues/concerns
- Collect/compile/manipulate data for INDEX and NAIS annual surveys
- Develops an efficient and cross-trained Business Office operation to ensure accuracy, timeliness, and a high level of customer service.
- Provides guidance to accounting personnel to ensure smooth and efficient operation.
- Ensures that appropriate internal controls have been established including policies and procedures, documentation, etc. and monitors compliance.
- Keeps current on new accounting pronouncements and assesses impact on the School.
Budgeting, Projections and Financial
- Assist Division Heads and Team Leaders with budget preparation/requests
- Assists the budget process to include multi-year financial modeling and presentations.
- Assembles details of projected revenues and expenditures and prepares annual operating and capital expenditure budgets in coordination with the CFOO
Other responsibilities
- Keeps current on government regulations affecting the School (IRS, OSHA, ERISA, etc.).
- Procures and evaluates School’s insurance coverage. Processes claims and addresses risk management issues as they arise.
- Attends conferences and seminars to stay current with the profession and independent schools and maintains a professional network with peer institutions locally and nationally.
- Performs other special projects as assigned by the CFOO.
Requirements:
Education:
- Strong academic credentials are required. Bachelor’s degree in accounting, Business, or related field; CPA or MBA desirable.
Experience:
- A minimum of 5 years’ total professional experience, with a minimum of 3 years’ experience in an equivalent to a Director of Finance role.
- Strong experience and expertise of Financial Planning and Analysis (FP & A) preferred.
- Extensive experience with budgeting and monthly closings.
- Knowledge of federal and state laws regarding financial reporting for independent schools is a must
- Excellent communication, math and computer skills required.
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