Principal Accountant, External Financial Reporting

Department

OFFICE OF THE UNIVERSITY CONTR (UA-CTRO-IUBLA)

Department Information

The Office of the University Controller (UCO) provides leadership and guidance for financial compliance, systems, and services at Indiana University. We strive to be a leader in higher education by embracing financial best practices, continuous improvement and by creating a culture of respect, integrity, and collaboration. As an organization, we value knowledge and different perspectives from our people, and we are welcoming of people of different backgrounds.

Job Summary

The Principal Accountant, External Financial Reporting is responsible for preparation of the operational deliverables related to the consolidated close process, annual financial statement audit(s) (including RTVS), and "in relation to" opinion engagement for Higher Learning Commission (HLC). This position requires research and the application of GAAP and GASB to determine the appropriate accounting treatment of significant accounting transactions and contracts.

Department-Specific Responsibilities

• Responsible for analyzing financial statement transactions and variances and developing reporting to aid in monitoring the accuracy of the University's financial statement activity.
• Supports and participates in the ad hoc financial reporting projects that are part of the Office of the University Controller's strategic initiatives.
• Assists with the University's annual consolidated audit by preparing and documenting consolidated financial statement journal entries, notes, and supplementary schedules.
• Prepares annual IPEDS and Higher Learning Commission allocations, reporting packages, and related documentation for internal and external stakeholders.
• Prepares quarterly executive financial reporting packages containing variance analysis and coordinate with other departments within the Controller's Office, Campus Controllers, and University administration (as applicable) to obtain supporting documentation and analyze drivers related to financial statement line-item variances.
• Analyzes GASB and other regulatory compliance, including determining the initial impacts to the University and preparing first draft of position papers.
• Analyzes significant financial activity for proper accounting treatment under authoritative guidance including GAAP and GASB.
• Identifies process improvements in order to increase efficiency and ensure accuracy of external financial reporting deliverables, including the development of standardized reporting schedules for use within the Controller's Office and other departments.
• Documents and maintains procedures and internal instructions as best practice for External Financial Reporting processes (e.g. journal entries, consolidated close processes, financial statement footnote disclosures, component unit reporting, internal quarterly reporting and analysis, BEA reporting, IPEDS, process narratives, Board reporting packages, etc.).

General Responsibilities

• Applies Generally Accepted Accounting Principles (GAAP).
• Performs more complex accounting assignments requiring advanced professional experience, knowledge, and competency in accounting principle and practices to safeguard the organization's financial resources and ensure compliance with all relevant regulations, laws, and reporting requirements.
• Establishes and maintains accounting policies and controls, fiscal controls, and financial reports.
• Prepares, reviews, and provides interpretation of complex reports and analyses for manager and officers.
• Submits recommendations for improved operations.
• Oversees and assists with specialized accounting assignments such as the preparation of monthly, quarterly, and annual financial activity.
• Provides work leadership to lower-level accounting employees.

Qualifications

Combinations of related education and experience may be considered. Education beyond the minimum required may be substituted for work experience. Work experience beyond the minimum required may be substituted for education.

EDUCATION

Required

• Bachelor's degree Accounting, or related field

WORK EXPERIENCE

Required

• 5 years relevant experience

LICENSES AND CERTIFICATES

Preferred

• Certified Public Accountant (CPA) license or license eligible

SKILLS

Required

• Proficient communication skills
• Maintains a high degree of professionalism
• Demonstrates time management and priority setting skills
• Demonstrates a high commitment to quality
• Possesses flexibility to work in a fast paced, dynamic environment
• Seeks to acquire knowledge in area of specialty
• Highly thorough and dependable
• Demonstrates a high level of accuracy, even under pressure
• Possesses a high degree of initiative
• Ability to influence internal and/or external constituents
• Ability to drive multiple projects to successful completion
• Analytical ability and a high level of numerical competence
• Proficiency in IT and demonstrated skill in using Excel to produce financial reports
• Ability to reconcile financial ledgers and process accounts payable/receivable
• Organizational skills and ability to manage deadlines
• High level of attention to detail and accuracy. Ability to communicate effectively

Working Conditions / Demands

This role requires the ability to effectively communicate and to operate a computer and other standard office productivity equipment. The position involves sedentary work as well as periods of time moving around an office environment and the campus. The person in this role must be able to perform the essential functions with or without an accommodation.

Work Location

Bloomington, Indiana or Indianapolis, Indiana

This position is eligible for remote work or to work a hybrid schedule (mix between remote and in-person work), subject to change based on university policy and business needs.

Advertised Salary

$85,000 - $90,000 annually, depending upon qualifications

Benefits Overview

For full-time staff employees, Indiana University offers a wide array of benefits including:

• Comprehensive medical and dental insurance
• Health savings account with generous IU contributions
• Healthcare and dependent care flexible spending accounts
• Basic group life insurance paid by IU
• Voluntary supplemental life, long-term disability, critical illness, and supplemental accidental death & dismemberment insurance
• Base retirement plan with generous IU contributions, subject to vesting
• Voluntary supplemental retirement plan options
• Tuition subsidy for employees and family members taking IU courses
• 10 paid holidays plus a paid winter break each year
• Generous paid time off plans
• Paid leave for new parents and IU-sponsored volunteer events
• Employee assistance program (EAP)

Learn more about our benefits by reviewing the IU Benefit Programs Brochure.