- Expired: over a month ago. Applications are no longer accepted.
About the Organization
Capital Impact Partners is now part of the Momentus Capital Family of Organizations which includes Capital Impact Partners, CDC Small Business Finance and Ventures Lending Technologies. Together, we work to ensure local leaders and communities have equitable access to the capital & opportunities they deserve. With a mission rooted in social impact, we support locally led solutions through our continuum of lending, impact investments, training programs, & technology programs. By joining our team, you will play a key role in how Momentus Capital is transforming the financial sector to help communities build health & generational wealth.
Assistant Controller, Capital Impact Partners
The Assistant Controller is responsible for managing the overall execution of accounting functions related to Capital Impact Partners (CIP) and its subsidiaries. The Assistant Controller should have a good understanding of the accounting issues facing the organization and serve as a guide/resource for the department as well as other internal groups of CIP.
This position has been and will continue to be supported by a highly skilled technical staff, including the two Senior Grant Accountants, the AP Manager and the Senior AP Specialist. This structure allows for the Assistant Controller to maintain an analytical perspective while the direct reports allocate more time to understanding the intricacies of their particular areas.
The Assistant Controller oversees the grants related to both CIP and CDC Small Business Finance (CDC). Additionally, the Assistant Controller reports to the Controller.
Strategy, Policy, Advisory and Advocacy
- Work with the Controller to ensure that Finance team follows strategic policies and goals outlined by senior management including closely monitoring corporate spending, periodically reviewing processes to work as efficiently as possible, and guiding team by adhering to corporate core values
- Research and work with the auditors to ensure that CIP accounting adheres to GAAP guidelines
- Assist Controller and CFO with a variety of tasks as needed
Grant Accounting and Reporting
Daily and Monthly Grant responsibilities
- Approval of CIP and CDC AP invoices coded to grants. This entails reviewing the specific grant related invoices for appropriate vendor, amounts, GL coding, and dates
- Review the monthly labor allocations and other spending of CIP and CDC grant funds to ensure that funds are expended according the specific guidelines (ie. timing and amount) established in the respective agreements
- Review monthly CIP and CDC grant accounting batches and related financial reports
- Review the CIP and CDC monthly grants revenue, net assets released (NAR) from restriction schedule
- Compile the CIP and CDC quarterly forecasted and corporate annual budgeted grant revenue and NAR prior to submission to the financial reporting team. Confirm that the funds are released timely and in adherence to grant agreements and GAAP
- Assist the Sr Grant Accountants and Program teams to write/review grant proposals and assist in the generation of a spending budget to submit with the grant proposal for CIP and CDC awards
- Review grant agreements to determine the appropriate accounting treatment per ASU 2018-08 guidance
- Review monthly technical assistance invoices generated by Sr Grant Accountant prior to submission to various recipients of consulting work. Ensure invoices have labor hours and other consulting costs to be reimbursed
- Work with Sr. Manager of Financial Reporting to provide insight for fluctuations in grant funds or other major variances
Quarterly and Annual Grant Reporting
- Work with Sr. Grant Accountants to prepare and lead the quarterly grant team meetings
- Review and approve the periodic grant sweep wires within the Reval system before submission to Treasury department
- Review quarterly and other reports generated for federal agencies and investors (i.e. Department of Education and private foundations)
- Review annual Department of Education performance report prepared by Sr Grant Accountant
- Review Single Audit (A-133) and other audit schedules generated by Sr Grant Accountant prior to submission to external auditors
Accounting, Audit, Budgeting and Reporting
- Review and approve/post daily cash transactions recorded by Sr Grant Accountants
- Ensure that modules (i.e. General ledger, AP, AR and Fixed Assets) within the Financial Edge system are timely and accurately closed each month by Senior Grant accountant and AP Manager
o Review of monthly MBS investments entry (generated by Sr Grant Accountant) for new purchases, unrealized gain/losses, amortization, and interest accrual
o Review and approve weekly AP Invoices to ensure that the appropriate amount, invoice number, invoice date, and accounting codes are reflected within Financial Edge
- Analyze monthly Trial Balance for variances and trends. Manage and encourage staff to research and explain fluctuations so that the explanations can be provided to senior management on a proactive basis
- Review various monthly reconciliations for cash and other balance sheet accounts to ensure that any outstanding items have been researched, identified and cleared
- Oversee work of Finance team in review and final approval of annual audit schedules. Ensure consistency between schedules and annual financial statements
- Review and final approval of weekly AP transactions
- Serve as backup for weekly AP if AP manager or Sr AP Specialist are on leave
- Review compilation of the AP 1099’s for distribution to vendors and Internal Revenue Services
Systems and Controls
- Work with various personnel in and outside of CIP as one of the administrators for the Financial Edge General ledger system which is utilized by the Finance department. This role requires the setup of new general ledger account codes, project IDs and funding sources within Financial Edge.
- Update Certify/Emburse with new users, grant Project IDs and Funding Sources, as needed
- Work with the Controller to oversee the Corporate American Express program and the affiliated American Express Global Travel program. This responsibility requires the Assistant Controller to work as a backup to assist users when they experience systems issues with their Corporate American Express
- Frequent review and approval of subgrants and new grants within the Salesforce system
- Assess the effectiveness of infrastructure processes to enable team to work as efficiently as possible
Professional Skills, Education and Experience:
- Minimum of 8 years of experience of increasing responsibility in a manager position within the financial services or nonprofit industries
- Minimum of 8 years of experience with grant accounting, reporting and management, required
- Minimum of 5 years of experience with Accounts payable review and oversight
- Bachelor’s Degree in Accounting or other related field
- Certified Public Accountant (CPA), required
- Grants Management certification, desired
Capital Impact Partners
Finance and Insurance
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