Director of Finance

ABOUT US - COMPANY INFORMATION The Lundquist Institute for Biomedical Innovation at Harbor-UCLA Medical Center (TLI) is Los Angeles County's preeminent independent, not-for-profit biomedical research hub, excelling in transforming scientific breakthroughs into practical therapies. With a $90 million annual budget, TLI is home to over 150 investigators and 500 staff, advancing 600 projects in areas such as Infection and Immunity, Cancer, and Women's Health. Founded in 1952, the Institute continues to train physician-scientists and manage healthcare programs for 60,000 underserved families throughout South Los Angeles. POSITION SUMMARY The Finance Director is responsible for overseeing all financial activities within the organization, including budgeting, forecasting, financial planning, and financial reporting. They analyze financial data, provide strategic financial guidance, and ensure compliance with financial regulations. The Finance Director also plays a key role in developing financial strategies to support the organization's overall goals and objectives. Additionally, they may be responsible for managing a team of finance professionals and collaborating with other departments to drive financial performance and growth. DUTIES AND RESPONSIBILITIES Supervise and mentor two staff in AR (Staff Accountant and AR Specialist). Manage month-end close process including working with the team to develop a month-end close plan. Develop and maintain an AR aging for all systems used and work with staff to monitor for collection. Prepare cash reports for senior management and projections. Prepare monthly financials for senior management. Assist in process documentation. Work with external auditors to ensure correct and timely closing and reporting at year-end. Perform ad hoc analysis and projects as assigned. Develop, document, and maintain written procedures for general accounting. Monitor and ensure timely payment of debt service and leases. Monitor compliance with debt covenants and reporting requirements. Maintain and review balance sheet reconciliations and schedules. Monitor and review the general ledger for proper recording of revenue recognition methods. Develop and implement processes to ensure revenue recognition practices are streamlined moving forward and in the new ERP system. Collaborate with other departments to support cross-functional initiatives and projects. Review and improve financial processes and systems to enhance efficiency and effectiveness. EDUCATION Required education includes a bachelor's degree in finance, accounting, economics, business administration, or a related field. Preferred education includes a master's degree in finance, business administration, or a related field. In addition to formal education, Finance Directors often need to have relevant work experience in finance or accounting roles, as well as strong analytical and problem-solving skills. Professional certifications such as Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), or Certified Management Accountant (CMA) may also be required or preferred for some positions. QUALIFICATIONS 5 - 10 years of experience in finance or accounting, with at least some experience in a leadership or management role. Strong analytical and problem-solving skills. Excellent communication and interpersonal skills, as the finance director will need to interact with various stakeholders and departments. Knowledge of financial regulations and compliance requirements. Proficiency in financial software and systems. Strategic thinking and the ability to make data-driven decisions. Strong leadership and mentoring skills to manage a team of finance professionals. Ability to work under pressure and meet tight deadlines. A track record of successfully managing budgets and financial operations. CERTIFICATIONS Preferred Certifications Chartered Financial Analyst (CFA) Certified Management Accountant (CMA) Certified Financial Planner (CFP) ESSENTIAL FUNCTIONS Financial Planning and Analysis: Develop and implement comprehensive financial plans, budgets, and forecasts to support the organization's strategic goals and objectives. Financial Reporting: Prepare and present accurate and timely financial reports to senior management, board of directors, and stakeholders. Cash Management: Monitor and manage the organization's cash flow to ensure liquidity and financial stability. Risk Management: Identify, assess, and mitigate financial risks, such as market, credit, and operational risks. Compliance: Ensure compliance with all financial regulations, laws, and standards, including tax laws and financial reporting requirements. Strategic Financial Decision Making: Provide financial guidance and support to senior management in making strategic business decisions. Financial Controls: Establish and maintain effective financial controls to safeguard the organization's assets and prevent fraud or financial mismanagement. Stakeholder Relations: Build and maintain strong relationships with investors, lenders, auditors, and other external stakeholders. Team Leadership: Lead and mentor a team of finance professionals to ensure they are motivated, engaged, and performing at a high level. Continuous Improvement: Continuously evaluate and improve financial processes, systems, and procedures to enhance efficiency and effectiveness. PHYSICAL DEMANDS Analyzing financial data and reports - 25% Creating and presenting financial forecasts and budgets - 20% Overseeing financial transactions and accounts - 15% Developing financial strategies and goals - 15% Managing financial risk and compliance - 10% Collaborating with other departments and stakeholders - 10% Leading and supervising finance teams - 5% Salary: $142,900-$162,700/yr.

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