Posted on September 12, 2012
Senior Manager of Finance
Leon Levy Foundation
Leon Levy Foundation - Senior Manager of Finance
The Leon Levy Foundation was established in 2004 from the Estate of Leon Levy. It is a private “non-operating” foundation with program areas focused on research and scholarship in the New York City area and beyond. The programs continue the extensive philanthropic traditions of Leon Levy and his wife, Shelby White. The foundation builds on this philanthropic legacy by supporting excellence in six broad areas: Understanding the Ancient World; Arts and Humanities; Preservation of Nature and Gardens; Neuroscience Research; Human Rights; and Jewish Culture. One groundbreaking grant established the Institute for the Study of the Ancient World in collaboration with New York University. The Foundation's income derives from its endowment, which has a market value of approximately $400 million. The Fund's annual program and administrative budget is approximately $35 million.
GENERAL POSITION DESCRIPTION
The Senior Manager of Finance reports to the President and is the Foundation’s only professional financial position acting in the roles of senior accountant, financial analyst and controller. As the sole position dedicated to the financial operations of the Foundation, the Senior Manager of Finance supports the Foundation’s financial record keeping and systems, including but not limited to accounting, check-writing, financial reporting, budget preparation and reporting, grants management, tax and regulatory reporting, financial systems, and business insurance. The position also has important record keeping and financial tracking responsibilities including sophisticated portfolio analysis related to the Foundation’s endowment portfolio and its related cash flow – all of which are managed in-house.
In addition, the Senior Manager of Finance is responsible for timely and accurate reporting and any required system and operational improvements. The position is responsible for preparing all external reports and working with external auditors and accountants on the preparation of financial statements and the conduct of the audit.
The Senior Manager of Finance works closely with the foundation’s Director of Administration and Program Associate on grants management, as well as being responsive to the Trustees and the President to meet their financial information needs and participate in a wide variety of special projects.
Accounting Functions and Financial Systems
- Makes accounting entries into the required systems and oversees the process of Accounts Payable, ensuring the accurate and timely processing of accounts payable.
- Establishes and maintains systems and controls which verify the integrity of all systems, processes and data.
- Has full responsibility for the general ledger and accounts payable system including reconciling all external and internal systems and accounts for the foundation’s bank accounts, investment manager accounts, and payroll and pension accounts.
- Maintains reconciliation between the grants management database (currently Gifts for Windows) and the accounts payable system (Quickbooks).
Portfolio Tracking and Cash Flow Management
- Responsible for tracking and recording all cash flows between the foundation’s investment managers, brokerage, and operating accounts. Provides timely information to manage cash flows to maximize efficiency.
- Monitors and reviews the financial reporting by the foundation’s investment managers and records all transactions. Updates all valuations on the relevant accounting and portfolio tracking systems. Responsible for obtaining timely updates on all investments and for monitoring all investment accounts to ensure managers are complying with reporting requirements.
- Uses PerTrac to perform sophisticated statistical analysis of investments on a regular basis and produces all reports used by the President and Trustees in weekly review and in formal Investment Committee and Trustee meetings quarterly.
- Produces periodic and on-demand reports of the investment portfolio at all summary and detail levels including historical performance tracking, asset allocation analysis, concentration analysis and cash flow projections.
- Develops and implements system for accurate recording of realized and unrealized gain on investments including required multiple cost bases.
- Develops and implements system to make sure all cash flows are accurately captured on accounting and portfolio tracking systems.
- Maintains accurate records of capital commitments and likely timing implications for cash management as well as complete records of timing for requests of all limited liquidity partnerships.
Budgets, Controls, and External Reporting
- Creates the annual operating budgets and updates the budget versus actual information on a quarterly basis for reporting.
- Prepares interim financial statements and analyses of budgeted expenses to actual for presentation to the President and Trustees. Develops, maintains and updates necessary accounting policies and procedures and proper internal accounting controls.
- Manages all federal, state and local tax and regulatory reporting requirements for the foundation, including all support schedules for the preparation of the annual 990-PF and 990-T tax returns and quarterly 990-PF excise and UBTI tax payments. Advises management on desirable operational adjustments in response to tax code revisions.
- Prepares the financial statements and works with the external auditors and accountants on the preparation of final financial statements and the 990PF.
- Works closely with ISAW on quarterly financial reviews and long term budget projections. Performs periodic analysis of costs related to facilities operations at ISAW.
- Bachelor’s degree with accounting/financial major.
- A minimum of three to five years of significant accounting/financial experience, preferably in a not-for-profit environment. CPA preferred.
- Strong general ledger, accounts payable and financial reporting experience required.
- Familiarity with portfolio analysis preferred. Some experience with alternative investments a plus.
- Strong managerial abilities along with excellent written, oral, organizational, and personal skills.
- Collaborative with the ability to comfortably interact with individuals at all levels including frequent contact with Trustees.
- Computer competency and familiarity with PC accounting packages, and extensive electronic spreadsheet experience a must. This is a “hands-on” position in a small organization.
- Strong commitment to high-level performance is essential.
The foundation has a small staff, and judgment, integrity, and the ability to listen with sensitivity to others are traits that are particularly important in an organization of this size, where teamwork is essential to effectiveness. The ability to work collegially with staff, trustees, grantees and external contacts plus an interest in and strong commitment to the foundation’s mission and grants programs are key qualifications.
Commensurate with background and experience. Excellent benefits package including medical/dental insurance and retirement plan.
PLEASE SEND LETTER, RESUME AND SALARY HISTORY BY EMAIL TO:
John W. Bernstein
Leon Levy Foundation
One Rockefeller Plaza, 20th floor
New York, NY 10020
The Leon Levy Foundation values diversity and is committed to the recruitment and retention of individuals of diverse backgrounds, sex, race, religion, and sexual orientation.