Financial Coordinator

Position Overview:

Pay Range: $67,300 - $80,050 annually

The Financial Coordinator is a key contributor to the Open Learning finance team, providing diverse financial support to multiple business units. The Financial Coordinator will support the financial operations team, with a focus on delivering excellent customer service to all stakeholders. At times, the Financial Coordinator will face challenging issues that will require determination of appropriate action based on established policies and procedures. They will be detail-oriented, an excellent written and oral communicator, have an affinity for financial operations work, and coordinate financial activities related to the daily operations of Open Learning, and collaborate on a wide range of finance projects and initiatives as part of the team. 

Principal Duties and Responsibilities (Essential Functions**):

• This position operates within a collaborative, team-based model requiring regular in-person interaction with staff across Open Learning’s business units. On-site presence in Cambridge, MA is an essential function of the role to provide walk-up financial support, facilitate the distribution of physical procurement and travel cards, and address financial reporting issues and discrepancies through timely, direct collaboration with employees and supervisors.
• Maintain financial hierarchy for various business units (create, update, close accounts).
• Perform monthly account reconciliations, ensure appropriate documentation, identify, investigate variances, and reconcile balances.
• Prepare and process journal entries for accounting transactions.
• Review and approve travel expenses, verify credit card charges, and process reimbursements.
• Process student appointments in MIT systems and set up MITemps with NextSource. 
• Handle staff salary allocations and distribution changes.
• Perform monthly, quarterly, and year-end closing activities, including expense accruals and deferrals.
• Process procurement requests and approve requisitions for multiple business units.
• Liaise with VPF procurement on complex contracts.
• Assist in negotiating contracts and renewing annual purchase orders.
• Review and approve vendor invoices, ensuring prompt payment with Accounts Payable (AP).
• Prepare monthly departmental travel reports to share with stakeholders for submission.
• Prepare recurring and ad hoc financial operations and planning reports.
• Monitor purchasing card charges, purchase orders, and travel balances.
• Initiate and oversee procurement card and travel card application process across department
• Maintain a strong internal control environment by ensuring compliance with Institute and departmental financial policies and procedures
• Attend meetings in person (one-on-one and in groups) and take comprehensive notes, summarizing key points and action items.
• The Financial Coordinator is required to work in person on the MIT campus in Cambridge, MA a minimum of two days a week. The Hybrid schedule is subject to change based on the needs of Open Learning and MIT.
• Perform other financial duties as needed in a team-oriented environment.

Supervision Received:

Supervision is provided by the Accounting Manager

Supervision Exercised:

No direct reports. 

Qualifications & Skills: 

REQUIRED:

Bachelor’s degree; two years of financial/accounting, administrative, office, or related experience; strong analytical, problem solving, decision making, time management, communications, and organizational skills; ability to prioritize, attention to detail, excellent interpersonal skills, discretion with confidential information; strong customer service orientation; ability to work with flexibility, and manage numerous projects with varying degrees of complexity, take initiative, and operate effectively as part of a team in a fast-paced, constantly changing environment; and strong computer skills, including experience with Microsoft Excel and Word.

PREFERRED:

MIT experience preferred but not required. Experience with SAP and “Buy-to-Pay” purchasing, and ability to collaborate with in-person and remote teams.

** 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.