Chief Financial Officer

Company: The Lundquist Institute
Location: Torrance
Posted on: November 13, 2024

Job Description:

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, 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 The 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 RESPONSIBILITIES

• Financial Management: Develops and implements financial strategies to ensure long-term financial sustainability and growth that support the Institute's mission and goals.
• Provides financial leadership for the Institute's overall budgeting, forecasting, and financial planning processes, ensuring alignment with the Institute's strategic goals.
• Leads the budgeting process, including preparation, analysis, and monitoring of departmental budgets.
• Participates in planning all capital projects including those as a part of infrastructure grants.
• Prepares and presents accurate and timely financial reports to the Board of Directors and executive team.
• Serves as liaison and support for Finance and Audit committees for the Board of Directors.
• Collaborates with the Senior VP of Advancement for development financial reporting.
• Leads commercial and real estate contract negotiations and management.
• Oversees treasury functions, including cash management, investment strategies, and risk management.
• Oversees payroll operations to ensure accurate and timely processing of employee compensation.
• Provides guidance for general accounting functions, including accounts payable/receivable, journal entries, and month-end close processes.
• Ensures compliance with GAAP, and all federal, state, and local financial regulations.
• Ensures that all policies within the scope of the CFO are updated and communicated to administrative staff.
• Identifies and implements process improvements to enhance financial operations and reporting efficiency. Sponsored Projects Accounting: Ensures 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 agencies.
• Monitors the drawdown of funds and ensures that all expenditures comply with applicable regulations and terms.
• Provides 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 applicable.
• Stays updated and ensures adherence to financial regulations and institutional policies related to grant management and contract administration.
• Oversees and guides external and internal audits, particularly those related to federal funding (e.g., single audits for institutions receiving federal grants). Leadership and Team Development: Collaborates with the executive team to develop and execute the Institute's strategic plan, with a focus on financial sustainability and growth.
• Serves as a strategic partner to the Board of Directors, providing financial insights and recommendations.
• Analyzes financial data and trends to inform strategic decisions and identify new funding opportunities.
• Leads, mentors, and develops the finance and accounting team, fostering a culture of collaboration, continuous improvement, and professional growth.
• Works 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-making.
• Ensures financial practices align with operational needs and strategic initiatives. EDUCATION Bachelor'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. QUALIFICATIONS
• 10 years of progressive financial leadership experience, preferably in a research institute, nonprofit, or academic setting.
• Proficient in financial management software and accounting systems; strong Excel and data analysis skills.
• In-depth understanding of grants management, federal regulations, and compliance requirements.
• Strong understanding of non-profit accounting principles, grant management, and regulatory compliance.
• Proven ability to lead and develop teams; excellent interpersonal and communication skills. CERTIFICATIONS Certified Public Accountant (CPA) ESSENTIAL FUNCTIONS
• In-depth knowledge of federal and state regulations governing grants and contracts.
• Strong analytical and problem-solving skills.
• Exceptional communication and interpersonal skills.
• Proficient in financial management software and tools.
• High level of integrity, professionalism, and ethical standards.
• Ability to work collaboratively in a diverse environment.
• Passion for the mission and values of The Lundquist Institute. PHYSICAL DEMANDS Sitting: 10% - Standing: 10% - Walking: 10% - Typing/Using a computer: 70% Salary Range: Min - $232,048 / Max - $359,053 /yr.
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Keywords: The Lundquist Institute, Newport Beach , Chief Financial Officer, Executive , Torrance, California