Assistant/Associate Controller

The Assistant/Associate Controller at Worcester Polytechnic Institute leads the interim and annual audits and plays a major role in preparing the University's financial statements. This position manages quarter-end and year-end accounting processes, oversees Treasury functions, bond compliance, debt accounting, and fixed asset accounting. The role involves supervising a team of four, coordinating external audits, and ensuring compliance with GAAP and federal regulations. Candidates should have a Bachelor's degree, CPA or willingness to obtain it, and 5-7 years of progressive accounting experience, including 3-5 years in a supervisory capacity.

Must Have

• Lead interim and annual audits
• Participate in financial statement preparation
• Manage quarter-end and year-end accounting processes
• Handle Treasury functions, bond compliance, debt accounting, fixed asset accounting
• Supervise 4 direct reports
• Bachelor's Degree in Accounting or Business
• CPA or willingness to work towards CPA
• 5-7 years of progressive accounting experience
• 3-5 years in a supervisory role
• Demonstrated competency with financial information technology

Good to Have

• Experience in higher education financial accounting
• Workday experience

Perks & Benefits

• Competitive and comprehensive benefits
• Health insurance
• Retirement
• Tuition assistance
• Flexible spending accounts
• Work-life balance

JOB DESCRIPTION SUMMARY

The Assistant/Associate Controller leads the interim and annual audit and participates in the preparation of the financial statements of the University in coordination with the University Controller.

This role may be filled at the Assistant Controller or Associate Controller level depending on the selected candidate's experience and qualifications.

This position is responsible for managing quarter-end and year-end accounting processes and for handling Treasury functions, bond compliance and debt accounting, and fixed asset accounting. The role supervises 4 direct reports: a Senior Treasury Analyst, 1-2 Senior Accountants, and 1 Staff Accountant.

JOB DESCRIPTION

Responsibilities:

• Performs major role in preparation of annual University financial statements and footnote disclosures and other compliance audit reporting
• Assists in preparing the federal OMB Uniform Guidance audit report
• Coordinates consolidation of subsidiaries
• Leads the external audit process, actively engaging with the auditors throughout the audit process on audit request status and audit issues, assigning and coordinating audit request items among University staff, and ensuring the audit remains on track
• Oversees internal control and internal audit processes
• Oversees the University's cash flow and the day-to-day activities related to cash management, including line of credit management, cash projections and forecasts, approval of ACH and wire transactions within authorized limits, and administration of University bank accounts
• Oversees preparation of all cash and banking reconciliations
• Supports PCI compliance efforts in coordination with IT
• Oversees and maintains the Workday Fixed Asset system, including monitoring and accounting for capital expenditures in accordance with GAAP
• Maintains and enforces University policies for capitalization, depreciable lives, and depreciation
• Ensures the accuracy of capital additions, retirements, impairments, and depreciation expense
• Oversees preparation of capital asset rollforward
• Coordinates with Facilities to track, monitor, and close out capital projects; oversees construction-in-progress project management
• Ensures timely payment of principal, interest, and fees for outstanding debt
• Ensures all debt instruments (bonds, notes payable, capital leases, line of credit, swaps) are accurately recorded in accordance with GAAP
• Oversees preparation of amortization schedules for principal, interest, premiums, discounts, or issuance costs
• Assists with tracking bond covenants, disclosures, and compliance reporting; coordinates preparation of annual continuing disclosure filings (e.g., EMMA)
• Assists in preparing materials for advisors, rating agencies, auditors, and other external agencies
• Oversees staff responsible for loan billing, servicing, and collections
• Ensures accurate recording, reconciliation, and reporting of student loan programs, including Federal Perkins and Institute loans
• Monitors aging of loan receivables, calculates allowance for bad debt, reviews balances for potential write-offs
• Oversees preparation of the annual FISAP, in coordination with Student Financial Aid
• Oversees pooled income trust, charitable gift annuities, and unitrust accounting
• Calculates valuation for external trusts in coordination with Advancement
• Works with Advancement to prepare documents for liquidation of trust gifts
• Works with Advancement to record pledges receivable, including calculating fair value and establishing an allowance for uncollectible pledges
• Leads the gathering of financial and operational data needed for mandated filings and external surveys
• Prepares annual IPEDS survey and other IPEDS reporting
• Prepares tax schedules for annual IRS Form 990 and MA Form PC
• Ensures reports meet submission deadlines and follow regulatory requirements
• Assembles annual insurance renewal forms in coordination with General Counsel and insurance company
• Oversees preparation of other reports and survey requirements
• Contributes to and presents relevant accounting/finance topics at meetings with University accounting and finance community
• Ensures appropriate training materials are available to the accounting and finance community
• Meets with staff regularly to coordinate projects and priorities
• Provides training and develops tools to produce staff efficiency and support staff development, supporting automation and process improvements where applicable
• Participates in the development of policies and procedures to ensure efficient processes and controls in staff areas
• Performs all other duties and responsibilities as assigned or directed by the supervisor

Qualifications:

• Bachelor's Degree, preferably in Accounting or Business
• CPA or willingness to work towards CPA required
• Minimum of 5 to 7 years of progressive responsibility in accounting positions, including 3 to 5 years in a supervisory role
• Experience in higher education financial accounting preferred, with knowledge of accounting standards and federal and state regulations applicable to not-for-profits and universities
• Demonstrated competency with financial information technology and ability to support systems implementations
• Workday experience is a plus
• Flexibility and willingness to adapt to change
• Strong project management and communication skills