Financial Administrator

Position Overview:

• Pay Range Minimum: $83,600
• Pay Range Maximum: $106,420

Reporting to the Director of Finance, the Financial Administrator will serve as the lead financial liaison to multiple teams within MIT Open Learning. Specifically, the position will contribute to the development of team budgets and forecasts; provide financial reports; and serve as the lead financial partner to the team, providing timely, accurate and insightful data to enable informed decision making and drive performance. This role may work with multiple sources of funding including restricted gifts and grants as well as contracts. This position requires independent judgment and problem-solving skills to ensure compliance with potential sponsor and donor regulations, MIT policies, and departmental procedures.

Principal Duties and Responsibilities (Essential Functions**):

• This position operates within a team-based model that thrives on real-time, in-person collaboration with the supervisor to this role, the finance team at large, and the team leads whom this role supports. In-person presence in Cambridge, MA, for a minimum of two days per week is an essential function of this role because it allows for better collaboration and problem solving with other members of the finance team, direct face to face interaction with, and presentations to, supported team leads, and effective project management across multiple teams.
• The Financial Administrator will serve as the primary financial partner to multiple OL teams and will:
• Lead the development of annual budgets and quarterly forecasts and reporting cycles.
• Serve as a resource for teams on transactional inquiries and financial/budgetary questions that require problem-solving and analytic capability.
• Work closely with the financial operations team, ensuring the support of day-to-day financial operations and internal controls, including reviewing and approving financial transactions such as requisitions, RFPs, travel vouchers, credit card charges, journal vouchers, and billing. 
• Produce financial reports, including annual, quarterly, and ad hoc, to monitor financial performance.
• Identify and develop various financial analyses that identify trends and recommendations to help inform decision-making.
• Perform financial modeling of new initiatives, staffing, sustainability, etc., and identify areas of potential cost savings.
• Track and communicate performance metrics and trends to provide valuable insights.
• Effectively and clearly communicate financial reporting to team leads through ad hoc and quarterly reporting and forecasts.
• Handle any and all pre and post award Sponsored financial activity within Open Learning, including project budgets, submissions, interfacing with RAS, and post award reporting.
• Strategize with team and project leads on resource allocation and effort/salary allocations across projects, and coordinate necessary changes to payroll.
• Assist units with financial reporting requirements to various funding organizations, including progress reports.
• Ensure financial compliance with University policies and procedures and applicable legal rules and regulations.
• Perform all other related duties and or special projects as assigned.

Supervision Received:

Will receive supervision from the Director of Finance

Supervision Exercised:

None

Qualifications & Skills: 

MINIMUM REQUIRED EDUCATION AND EXPERIENCE:

Bachelor’s degree required, preferably in finance or related field; Minimum of 5 years’ relevant experience; Working knowledge of budget management, financial analysis, financial modeling, and accounting principles; Experience with Sponsored financials preferable. Excellent written and oral communication skills; Must be able to deal with confidential information using discretion and judgment; Multitask, prioritize, work with flexibility, and manage numerous projects with varying degrees of complexity; Work as part of a team; Identify and recommend solutions to complex problems; Operate effectively in a fast-paced, constantly changing environment; Strong data management and Excel skills, including querying, pivot tables, and extensive formulaic knowledge.

** To comply with regulations by the American with Disabilities Act (ADA), the principal duties in job descriptions must be essential to the job. To identify essential functions, focus on the purpose and the result of the duties rather than the manner in which they are performed. The following definition applies: a job function is essential if removal of that function would fundamentally change the job.