Job Code: 4443
Grade: J

 Note: Not all unique aspects of the job are covered by this job description

 **This is a 20 month fixed term position**

 Stanford University is one of a select group of American universities that have achieved eminence in both undergraduate and graduate education and in a broad range of academic disciplines.  The University is internationally recognized for the quality of its teaching and research, its distinguished faculty and its outstanding student body.  Our mission is to educate future leaders and promote interdisciplinary, world-class research and teaching.  This passion makes Stanford an intensely creative, rewarding, and challenging place to work.

Over the past 10-15 years, the business, technology and political environments have become more complex and faster paced. New accounting standards have been issued for leases and not-for-profit accounting and reporting.  In addition, other regulations and rules we need to comply with are more complex, e.g., international compliance considerations and banking regulations, and a new internal control framework – COSO - has been adopted. Heightened scrutiny from our external auditors has resulted in more extensive requests for information in an effort to understand non-profits’ business activities and related controls.  Additionally, technology continues to change rapidly and the underlying tools further add to the complexity and riskiness of the environment.  

In March 2016, the Financial Accounting Standards Board (FASB) released a new set of accounting standards for leases (ASC 842) which requires all leases meeting certain criteria, regardless of whether they are capital or operating leases, to be recorded as an asset with a corresponding lease liability on the balance sheet.  With this backdrop, it becomes critical for Stanford to have a comprehensive solution to ensure that:

• All lease contracts (and relevant changes) are identified on an ongoing basis
• In-scope leases are captured in a central database with key terms
• The leases are assessed for proper accounting treatment, and properly recorded in Stanford’s accounting system (Oracle)
• The leases are properly disclosed in our financial statements

Underlying all of the above items is a need to build a solid and robust internal control environment so that the leases are properly recorded and disclosed.  ASC 842 is effective FY20 for Stanford University.

Within the Financial Management Services (FMS) organization, the Financial Analysis and Information Reporting team (“FAIR”) is part of the Controller’s Office (CO) and is responsible for financial reporting, the coordination of our external audit, financial analysis, and a variety of general accounting activities.  FMS’s goal is to lead, drive and model best practices in financial management for the campus community, while maintaining proper controls and compliance with internal and external policies.  FMS brings together the Controller’s Office, Procurement, Office of the Treasurer, Global Business Services and Financial Management Consulting and Support.  This position reports jointly to Director of Financial Reporting within FAIR, the Director of Capital Accounting within the CO, and the Director of Property Management with the Property Management Office (part of the broader Business Affairs organization that comprises FMS and other units).  Administratively, this position will reports to the Director of Financial Reporting.

Our new Stanford Redwood City campus, scheduled to open in Spring 2019, brings together 2,700 staff in a collaborative environment that reflects Stanford’s culture and mission. The campus will offer amenities such as onsite cafes and a dining pavilion, a high-end fitness facility with an outdoor pool, and a childcare center for Stanford families.

 JOB PURPOSE:

Perform complex accounting functions including designing and performing ad hoc analyses, maintaining complex accounting systems, analyzing large data sets, and reconciling complex accounts.  Specifically in this role, the Associate Manager/Lease Accounting will serve as:

1. Subject Matter Expert in the implementation of ASC 842;
2. business owner of Oracle Property Manager (OPM), the system solution for Stanford’s leases and work closely with the implementation consultants, recommending opportunities for efficiency and to implement internal controls;
3. for PMO/CA: review requisitions and enter leases into OPM that meet or exceed established thresholds;
4. reconcile or review the reconciliation of the lease accounting information, (4) assist in the evaluation of new complex leases;
5. develop the accounting disclosures for our FY20 annual financial report; and
6. provide training to others on OPM.

CORE DUTIES*:

• Perform complex and detailed reconciliations, closure processes, research and critical analyses. Identify, prioritize, and resolve complex financial issues which may span multiple areas; identify underlying issues; recognize exceptions; recommend solutions. 
  • OPM is a new platform and some systems and operational areas will need to be improved.  Identify, research and resolve issues.  Understand concepts and theory.  Determine that appropriate controls are in place—including segregation of duties—to ensure the integrity and the completeness and accuracy of data.  Perform timely reconciliations of data from OPM to Oracle GL and other subsystems.
• Research possible solutions and make recommendations to department leadership based on audit / report reviews and identified accounting issues; advise leadership regarding business activities; provide cost analyses; plan studies; and determine business activity costs.
• Research, and synthesize data; interpolate results from large amounts of data, identify trends in data, draw conclusions, develop solutions, present and implement recommendations, and create follow up analysis.
• Develop complex financial data, metrics, and reports for a variety of internal and external audiences.
• Develop, design, or modify solutions for major segments of a program or accounting system; develop, recommend, implement and document new or revised policies and procedures.
  • New policies may come out of the OPM implementation and require existing policies to be revised or expanded.  OPM will be a new “accounting system” to record entries for leases.  Demonstrates the depth of knowledge and ability to proactively implement any required changes.
• Lead and support unit and organization strategy and change management initiatives. Analyze existing systems and processes; identify greater efficiencies and improved internal controls opportunities; incorporate new regulations; recommend solutions that may require policy changes or new processes.
  • Lead and drive a process changes from beginning to end (collaborating with other departments/units).
• Develop, recommend and implement new or revised policies and procedures for better controls and efficiencies. Participate in critical analysis of existing systems and processes, identifying and implementing process improvement opportunities.
• May act as a lead, train, coach, and review the work of other staff, as needed. Contribute primarily through applying individual expertise.

* - Other duties may also be assigned

MINIMUM REQUIREMENTS:

Education & Experience:

Bachelor’s degree plus eight years of applicable experience, or an equivalent combination of education and relevant work experience.

Knowledge, Skills and Abilities:

• Advanced proficiency in business applications, such as Microsoft Office; advanced Excel skills.  Experience with Oracle and Oracle Property Manager is preferred.
• Advanced knowledge of accounting systems and the internet; computer literacy.
• Strong communication skills, including the ability to clearly and effectively communicate information to internal and external audiences and client groups.
• Demonstrated project management skills and ability to contribute/lead as part of a multi-functional team.
• CPA preferred.  Preference given to CPAs with a combination of Big 4 and industry experience.
• Strong understanding of Generally Accepted Accounting Principles and the ability to interpret and apply advanced and complex accounting rules. 
• Solid understanding of COSO, compliance and internal controls.
• Excellent oral and written communication skills.  Ability to communicate and impart technical accounting knowledge and information in an easy to understand manner.  Ability to communicate decisions while educating at the same time.  Establish good working relationships with a diverse population.
• Strong sense of service orientation, with a proven ability to balance controls and compliance.  Ability to develop solutions in situations where many variables are constrained and initiative to constantly improve the department.
• High level of professionalism and integrity with a demonstrated ability to work productively with, and gain confidence of, many levels of an organization.  Ability to maintain focus, successfully execute plans, bring closure to activities, tasks and projects.  Proven track record of getting things done.
• Advanced proficiency in business applications, such as Microsoft Office; advanced Excel skills and accounting systems (e.g., Oracle Financials).  Preference given to candidates with experience using the Blackline account reconciliation tool.
• Other skills necessary for this job is excellent organizational, analytical, and problem solving skills, an attention to detail, an ability to work independently, and the ability to work in a fast paced environment as an agent of change.
• Flexibility to perform other functions as directed

* - Consistent with its obligations under the law, the University will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of his or her job.

WORKING CONDITIONS:

• May work extended hours during peak business cycles.

WORK STANDARDS:

• Interpersonal Skills: Demonstrates the ability to work well with Stanford colleagues and clients and with external organizations.
• Promote Culture of Safety: Demonstrates commitment to personal responsibility and value for safety; communicates safety concerns; uses and promotes safe behaviors based on training and lessons learned.

Subject to and expected to comply with all applicable University policies and procedures, including but not limited to the personnel policies and other policies found in the University’s Administrative Guide, http://adminguide.stanford.edu.