Chief Financial Officer
The Lundquist Institute for Biomedical Innovation at HarborUCLA Medical Center - torrance, CA
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ABOUT US- COMPANY INFORMATIONThe 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, the renowned 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 & JOB SUMMARYThe Chief Financial Officer (CFO) of The Lundquist Institute will play a crucial role in overseeing the financial health and sustainability of the organization. The CFO will lead the Finance and Accounting teams, ensuring effective management of general accounting, payroll, treasury functions, and post-award finance of sponsored projects. The ideal candidate will possess strong leadership skills, a strategic mindset, and a commitment to supporting the mission of the Institute. DUTIES AND RESPONSIBILITIESFinancial ManagementDevelops and implement financial strategies to ensure long-term financial sustainability and growth that support the Institute's mission and goalsProvides financial leadership for the Institute's overall budgeting, forecasting, and financial planning processes, ensuring alignment with the Institute's strategic goalsLeads the budgeting process, including preparation, analysis, and monitoring of departmental budgetsParticipates in planning all capital projects including those as a part of infrastructure grantsPrepares and present accurate and timely financial reports to the Board of Directors and executive teamServes as liaison and support for Finance and Audit committees for the Board of DirectorsCollaborates with the Senior VP of Advancement for development financial reportingLeads commercial and real estate contract negotiations and managementOversees treasury functions, including cash management, investment strategies, and risk management.Oversees payroll operations to ensure accurate and timely processing of employee compensationProvides guidance for general accounting functions, including accounts payablereceivable, journal entries, and month-end close processesEnsures compliance with GAAP, and all federal, state, and local financial regulationsEnsures that all policies within the scope of the CFO are updated and communicated to administrative staffIdentifies and implements process improvements to enhance financial operations and reporting efficiency Sponsored Projects AccountingEnsures effective grant and contract accounting, including the monitoring of grant expenditures, compliance with federal, state, and institutional regulations and guidelines, and the preparation of financial reports for internal use as well as required reporting to funding agenciesMonitors the drawdown of funds and ensure that all expenditures comply with applicable regulations and termsProvides guidance and general oversight for timely and accurate submission of invoices and financial reports and other required documentation to funding agencies, including industry sponsors, and donors if applicableStays updated and ensures adherence to financial regulations and institutional policies related to grant management and contract administrationOversees and guides external and internal audits, particularly those related to federal funding (e.g., single audits for institutions receiving federal grants) Leadership and Team DevelopmentCollaborates with the executive team to develop and execute the Institute's strategic plan, with a focus on financial sustainability and growthServes as a strategic partner to the Board of Directors, providing financial insights and recommendationsAnalyzes financial data and trends to inform strategic decisions and identify new funding opportunitiesLeads, mentor, and develop the finance and accounting team, fostering a culture of collaboration, continuous improvement, and professional growthWorks with program teams to build financial literacy and understanding of external funding compliance requirements.Collaborates with other departments to provide financial insights and support for decision-makingCollaborates with other departments to ensure financial practices align with operational needs and strategic initiatives EDUCATIONBachelor's degree in Business Administration, Finance, Accounting, or a related field required; and Master's degree in Business Administration, Accounting, or Finance, and CPA preferred QUALIFICATIONS10 years of progressive financial leadership experience, preferably in a research institute, nonprofit, or academic settingProficient in financial management software and accounting systems; strong Excel and data analysis skillsIn-depth understanding of grants management, federal regulations, and compliance requirementsStrong understanding of non-profit accounting principles, grant management, and regulatory complianceProven ability to lead and develop teams; excellent interpersonal and communication skills CERTIFICATIONSCertified Public Accountant (CPA) ESSENTIAL FUNCTIONSIn-depth knowledge of federal and state regulations governing grants and contractsStrong analytical and problem-solving skillsExceptional communication and interpersonal skillsProficient in financial management software and toolsHigh level of integrity, professionalism, and ethical standardsAbility to work collaboratively in a diverse environmentPassion for the mission and values of The Lundquist Institute PHYSICAL DEMANDSSitting: 10%Standing: 10%Walking: 10%TypingUsing a computer: 70%Salary Range: Min - $232,048 Max - $359,053 yr.
Created: 2024-10-14