Lead Revenue and Investments Accountant

The Controller's Office is seeking a highly motivated and hands-on full time Lead Revenue and Investments Accountant to lead the accounting, analysis, and reporting related to revenue (including grants, gifts, services, and other sources), endowments, and investments. Reporting to the Controller, the Lead Revenue and Investments Accountant will be directly responsible for ensuring the accuracy and timeliness of all financial reporting, managing compliance, and overseeing related accounting operations and process improvements in these areas. A successful candidate is an experienced and collaborative leader with strong accounting expertise who thrives in a fast-paced, dynamic environment and brings exceptional organizational and analytical skills.

This position has a hybrid work schedule, allowing for in office collaboration as well as flexibility with work from home days weekly.

WHY BROAD?

The Broad Institute is pioneering a new model of collaborative biomedical science to transform biology and medicine. To do that, we have created a unique community of amazing, creative people - "Broadies" - each with a passion for pushing scientific frontiers. Our community transcends academic and organizational barriers, encouraging different points of view and making all Broadies part of something meaningful. Our unique culture of collaboration along with the common theme of our people being deeply passionate about making a difference in the world and improving human health unite us all as Broadies.

Broad Institute is committed to meeting the most critical challenges in biology and medicine. We are dedicated to applying our deep knowledge of human genetics to empower a revolution in biomedicine and accelerate the pace at which the world conquers disease. Through our partnerships with MIT, Harvard and the Harvard teaching hospitals we've become the "hub" of cutting edge science in the Boston biomedical community.

At the Broad, we understand that the most important thing that will lead to these breakthroughs in human biology, health, and disease is our people. At Broad, we care deeply about all of the people in our community and believe in the importance of supporting Broadies in all aspects of their lives. We aspire to maintain a culture that emphasizes wellness and balance through a range of benefits for you and your family members. We are committed to helping make life work by offering a range of benefits designed to support your physical, emotional, and financial well-being.

KEY RESPONSIBILITIES:

REVENUE ACCOUNTING

Lead all Controller's Office activities related to revenue recognition, including the accurate and timely accounting of revenue and its associated reporting. Responsibilities include, but are not limited to:

• Interpret and apply GAAP revenue recognition guidance (ASC 958 and ASC 606) to complex transactions, including gifts, grants, and exchange transactions, ensuring accuracy, completeness, and compliance.

• Perform accounting analysis of award agreements and contracts to determine appropriate classification (conditional vs. unconditional contributions, exchange transactions, etc.), revenue recognition timing, restriction classification, and financial statement presentation.

• Document accounting conclusions through written analyses supporting revenue recognition treatment.

• Develop and maintain revenue accounting policies, procedures, and internal controls to enhance accuracy, efficiency, and compliance.

• Partner closely with the Office of Sponsored Research, Development, and Financial Strategy, Planning & Analysis teams to ensure accurate setup, tracking, and reporting of awards and other revenues.

• Oversee the identification, preparation, and review of revenue-related journal entries, including accruals and deferrals, to support accurate monthly and annual close processes.

• Maintain accurate rollforward schedules and reconciliations related to revenue, including advances and deferred revenue, contracts in progress, pledges receivable, net assets by restriction, etc.

• Serve as the Controller's Office primary point of contact for the Development team, collaborating on financial matters related to gifts, pledges, and fundraising initiatives.

• Serve as the Controller's Office primary point of contact for the Office of Strategic Alliances and Partnering Finance team, ensuring accurate reporting of licensing, royalty, and other intellectual property-related revenues.

• Provide support for external audits, including preparation of schedules, reconciliations, and responding to auditor requests.

• Ensure cross-functional reporting alignment between OSR, Finance and Development.

• Assist with financial statement preparation and other reporting, as it relates to revenue.

• Research and respond to revenue-related inquiries.

• Support special projects, such as system enhancements and implementation of new revenue streams.

INVESTMENTS/ENDOWMENT

Lead and manage all aspects of the investments and endowment accounting and reporting processes. Responsibilities include, but are not limited to:

• Maintain roll forward schedules and reconciliations to track monthly investment activity of the Institute's $1B endowment portfolio.

• Review and approve journal entries for all investment transactions (contributions/distributions, gain/loss earnings, and transfers, etc.).

• Ensure accuracy of historical investment returns and net asset value using a unitized methodology across the Institute's endowment portfolio on an ongoing basis.

• Prepare high-quality investment reporting and related analytics, memos, and data for Senior Leadership and the Board of Directors' Finance and Investment Committees.

• Responsible for annual endowment distribution calculations and related analyses.

• Manage the timely receipt of recurring reports and ad hoc information requests from the Institute's external investment managers.

• Research and respond to endowment and investment inquiries.

• Reviews journal entries and maintains roll forward schedules for marketable securities held by the Institute from IPO through liquidation.

• Assist with financial statement preparation and tie out as it relates to investments, such as flux analysis and cash flows.

• Provide support for the fiscal year-end audit and tax return preparation as it relates to these areas.

• Act as a reliable backup for preparation of relevant journal entries and schedules.

MINIMUM QUALIFICATIONS:

• Bachelor's Degree in Accounting, Finance, or a related field.

• Minimum of 7 years of progressive public accounting and/or private industry experience. .

• Experience interpreting and applying revenue recognition guidance (ASC 606), including reviewing contracts to determine appropriate accounting treatment

• Strong understanding of GAAP and financial reporting; as applicable to nonprofits is a plus.

• Experience with major enterprise-system software packages is a plus (SAP/Oracle).

• Proficiency in Microsoft Excel (v-lookup, pivot tables etc.) and Google apps.

• Strong analytical and problem-solving abilities, with demonstrated attention to detail.

• Excellent organizational skills, attention to detail, and ability to work independently, multi-task, and meet project deadlines with a high degree of accuracy and timeliness.

• Excellent leadership, communication, and interpersonal skills with the ability to explain complex financial concepts to non-financial stakeholders.

The Broad will not provide sponsorship for this position.