Director of Finance

The Institute for Protein Innovation (IPI)is a nonprofit research organization advancing protein science to accelerate research and improve human health. Founded in 2017 and located in Boston’s Longwood Medical Area, the Institute’s three-pronged strategy is to build protein tools, conduct related internal research and develop educational programs for the protein science and biological research communities.

With a significant endowment, IPI uniquely combines the freedom of academia with the high throughput and scale of industry to take on transformative projects. IPI has built a robust platform for discovering, developing, and distributing synthetic antibodies and other protein tools to share with the biomedical community. The Institute's deep protein expertise, collaborative spirit and research tools are powering new biomedical and therapeutic discoveries with a growing community of researchers at Harvard Medical School, Boston Children's Hospital and other institutions across Greater Boston and beyond.

Purpose

The Director of Finance is the senior-most financial position at the Institute and is responsible for providing financial leadership to the Institute through its early stages of growth into a self-sustaining, non-profit entity. This position is the strategic thought partner to the President & CEO and the Board, providing entrepreneurial, strategic financial leadership, planning and execution to the Institute.

This position provides direction regarding the strategic and operational financial management of the Institute including long-term financial planning and sustainability, regulatory and financial reporting, grant and contract administration, audit, budget and forecast preparations and tax preparation and filing. The Director of Finance manages a team of finance and accounting professionals, including a Financial Controller, Accountant, Payroll Manager (contractor) and a Sponsored Research Specialist. The Director also assists with overseeing the Purchaser on the Lab Operations team.

Primary Responsibilities

• Advises strategic planning activities regarding the Institute’s long-term sustainability, including endowment management and the development of revenue models for a complex, academic-commercial hybrid organization, in partnership with the President & CEO and Board of Directors.
• Oversees and directs the annual budgeting and planning process; reviews all financial plans and budgets; monitors progress and changes; and advises the President & CEO and Board of Directors regarding the Institute’s financial status.
• Oversees the financial and accounting activities performed by the Controller and Accountant including cash receipts and disbursements, accounts payable and receivable, payroll, journal entries and the general ledger.
• Mentors and develops Controller and Accountant, creating career development opportunities and succession plans.
• Oversees external contractors supporting the Finance & Accounting Department, including a Payroll Consultant, Sponsored Research Federal Rate Specialist, and NetSuite Developers.
• Oversees and directs the preparation of financial reports in an accurate and timely manner; clearly communicates quarterly and annual financial statements; and oversees all financial, project, program and grants accounting.
• Leads the annual audit process and liaises with external auditors and the Audit and Finance Committee.
• Maintains and further develops a robust system of internal controls, a contracts management and financial management/ reporting system; and oversees contract billing and collection. Ensures appropriate and effective financial controls are in place as needed to support the IPI’s growth.
• Ensures compliance with federal, state, local and any other financial, tax reporting and regulatory requirements including IRS 990 reporting.
• Evaluates and maintains adequate business insurance coverage to meet the needs of the organization. Ensure that policies are timely renewed or replaced and claims filed and resolved.
• Updates and implements all necessary business policies and accounting practices; improves the finance department’s overall policy and procedure manual.
• Establishes a seamless collaboration regarding financial policies and budgetary compliance across the IPI.
• As a member of the leadership team, the Director of Finance plays a key role in promoting a culture of high performance and optimized employee engagement.
• Leads and participates in other projects and initiatives as required.
  
  
  

Qualifications

• Bachelor's or Master’s degree in accounting, finance or business administration required. Master’s degree preferred.
• CPA licensure strongly preferred.
• Minimum of 10 years of directly related financial experience, demonstrating a track record of career progression and experience managing teams
• Prior experience in life sciences and/or nonprofit research is preferred, including knowledge of endowment strategy and management
• Familiarity with accounting and reporting of grant funding and overall management of sponsored research helpful
• Prior experience must include responsibility for the content and quality of financial data, statements and reporting and audit management
• Proficiency with financial software and experience successfully implementing or converting ERP systems (NetSuite preferred)
• Prior experience preparing and presenting financial information to Board level audience
• Ability to effectively translate complex financial concepts to audiences with varying levels of financial acumen
• Excellent written and verbal communication skills, able to concisely communicate complex ideas in a manner that builds buy-in among diverse stakeholders
• Strong leadership skills and experience empowering a team to achieve exceptional results
  
  
  

IPI provides competitive compensation and an excellent benefits package to support physical, mental and financial health. Highlights of benefits include:

• 100% employer-paid medical, dental, and vision plans
• Flexible spending accounts and a healthcare reimbursement account
• 401(k) plan with generous 6% employer match – immediately 100% vested
• Generous PTO package
• Commuter and parking reimbursement
• Career development opportunities
  
  
  

For more information, visit proteininnovation.org or follow us on social media, @ipiproteins. IPI is an independent 501(c)(3) nonprofit research organization and an equal-opportunity employer. The Institute celebrates diversity and is committed to creating an inclusive environment for all employees. Please be advised that you will be required to provide evidence of your identity and eligibility for employment in the United States. IPI will not guarantee sponsorship of foreign nationals and retains complete discretion regarding providing sponsorship to any prospective or existing employee at time of hire or at any time in the future.