What are the responsibilities and job description for the Director, Finance and Business position at Meharry Medical College?
The Director of Finance and Business for the Research & Innovation Division of Meharry Medical College reports directly to the Senior Vice President for Research and Innovation and is responsible for the division's financial planning, budget development, and resource allocation to support strategic research growth initiatives. Key responsibilities include :
Budget Development & Financial Planning : Leads the development of the annual budget and multi-year financial plan, preparing comprehensive budget proposal packages covering revenue and expenses for the division's Budget Hearings.
Strategic Resource Allocation : Ensures budget availability to support financial resource allocation for research initiatives in alignment with the College's strategic priorities under the guidance of SVP, Research and Innovation.
Financial Operations & Compliance : Oversees core financial operations and management, working closely with grants and contracts management, financial administration, and research administration to ensure compliance with institutional financial policies and external funding requirements.
Grant Lifecycle Management : Serves as a key point of contact throughout all stages of the grant lifecycle-from submission to closeout-collaborating with program staff, finance managers, faculty, the Grants Management Office, Grants & Contracts, Grants Accounting, and other institutional units to maintain financial stewardship.
Operational Coordination of (1) Budget Execution : Assists relevant staff across College units in line-item budget development, vendor setup, requisition processing, and purchase order generation. (2) Invoice Management : Oversees the processing of grant and subaward invoices, ensuring timely and accurate payments. (3) Award Closeout Compliance : Coordinates the award closeout process to ensure compliance with Meharry's contractual and financial obligations.
This position plays a critical role in financial resource allocation, fiscal accountability, and operational efficiency, ensuring the financial health and sustainability of the Research & Innovation Division.
Daily Operations
Oversees the preparation and developing pre- and post-award budgets, interpreting grant parameters to ensure compliance with sponsor and College policies, and advising on allowable costs.
Oversees monthly monitoring and analyses of awards for principal investigators to ensure expenses are paid according to contract and government regulations within budget limit and timelines.
Monitor funding shortfalls and collaborate with stakeholders to develop plans for contingencies.
Monitor expenditures, account balances, and receivables to perform financial projections.
Serve as a liaison and training manager to principal investigators, staff and students on the College's fiscal policies and procedures
Collaborate with owners and stakeholders to set up new sponsored accounts, maintain accurate financial records, verify payroll allocations, prepare financial reports, participate in audit process (as needed), and close out projects and grant agreements
Clearly communicate and interpret sponsored and / or College guidelines and polices to owners and stakeholders
Financial Management
Support the analysis of critical and complex financial management questions.
Create and run reports from a variety of systems and data sources to provide financial analysis, metrics, and data to support decision-making across cost centers.
Contribute to the annual budget and year-end closing processes.
Review vendors and processing payments of invoices and individual reimbursements; track all contracts and renewals.
Work closely with the other senior finance staff to analyze and evaluate financial results, conducting analyses to respond to ad-hoc queries and strategic requests to inform decision making.
Additional duties
Support processes needed for efficient research administration and financial operations.
Manage life-cycle of projects, including developing and vetting project plans, tracking action items, performing project tasks, and preparing analyses and reports.
Performs other related duties as assigned.
Required Skills
Knowledge of accounting theory and Generally Accepted Accounting Principles (GAAP)
Knowledge of sponsored programs and governmental regulations, including 2 CFR 200
Knowledge of strategic planning process
Demonstrated ability to analyze complex situations, and execute successful solutions
High level of consulting, problem-solving, and collaborative skills
High level of analytical and decision-making skills
Ability to function in a fast-paced and changing work environment with minimum supervision
Ability to develop and lead successful teams
Ability to define work objectives, plans, and priorities to delegate routine tasks
Ability to create short- and long-range plans and forecasts
Required Education and Experience
Required : Bachelor's degree in finance or relevant field with a minimum of six (6) years progressively responsible experience, or an equivalent combination of education, training, and experience. Advanced degree preferred. Supervisory experience required.
Certified Financial Research Administrator preferred
Knowledge in research administration, sponsored programs, and finance
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