This job description is intended to describe the general nature and level of work being performed by people assigned to this classification. It is not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
The Finance and Operations Associate is responsible for managing financial activities, analysis and transactions for the Center for Research Innovation (CRI). Perform financial responsibilities with an emphasis on technology transfer accounts receivable duties. Serve a crucial role in ensuring the efficient financial management and smooth operational functioning of our office. Utilize strong finance and analytical and problem solving skills to support operational effectiveness within a technology transfer setting.
Solid understanding of financial principles, budgeting, and accounting practices. Experience with reconciliation of patent expenses and royalty payments in a technology transfer office is highly desirable. Proficiency in financial management software and tools, such as Excel, ERP systems, and financial reporting systems. Effective analytical skills with the ability to interpret financial data and generate meaningful insights. Strong attention to detail and accuracy, with a commitment to maintaining high-quality financial records. Knowledge and skills required are normally acquired through a Bachelor's degree in Finance, Accounting, Business Administration or related area with two to three years of experience in finance, accounting, or a related role, with a strong emphasis on financial analysis and reporting.
KEY RESPONSIBILITIES & ACCOUNTABILITIES
1) Tech Transfer Accounts Receivable functions (related to licensing) :
Generate invoices for licensees with precision and adherence to each unique licensee contractual terms and manage related accounting.
Handle deposits, tracking, and recording of Patent Expense reimbursement while analyzing each unique contract to ensure payments are aligned.
Distribute royalty payments and revenue to inventors and departments following University Policy
Collect and accurately apply license fees and patent expenses ensuring that payments match the terms of each license.
Track revenue streams to provide real-time financial insight financial insights.
Consistently audit and analyze licensee accounts to resolve delayed patent expense, royalty, and license fee payments.
Serve as a resource for addressing invoicing inquiries and problem-solving
2) Accounts Payable functions:
Cultivate and maintain strong vendor relations while effectively troubleshooting service and account-related issues to ensure seamless transactions.
Efficiently process and/or submit Purchase Orders and invoices, demonstrating an understanding of complex financial transactions
Conduct thorough research to clear up old Purchase Orders (POs) and requisitions.
Investigating and resolve invoices that are on hold;
Assist in setting up new vendors, navigating through intricate contractual and University financial requirements.
corporate card reconciliation,
Handle the processing of legal invoices, including intricate reconciliation on internal CRI and University systems.
3) Financial Management:
Reconciling monthly financials, ensuring accuracy
Process and reconcile all financial transactions, ensuring accuracy and resolving discrepancies in compliance with internal controls and policies.
Assist in the development and monitoring of departmental budgets, budget transfers and journal vouchers, ensuring adherence to financial goals and policies
Data Entry and financial record set up for new license agreements
update/document training materials
Function as primary internal contact for contracts with vendors and contractors
Serve as team's liaison for IT needs, including new employee set up; anticipate needs.
Support program staff in large event management, including tracking project logistics and implementation: booking rooms, coordinating A/V needs, creating posters, and ensuring that catering has been ordered and delivered; responsible for meeting room set up and clean up as needed, including seeking slides from presenters and ensuring they are set up and ready in advance of events.
Provide limited administrative support to CRI's senior team.
Monitors and maintains office equipment and supplies and manages office resource room, including general organization, mail distribution, and ordering of supplies.
Assist in the development and implementation of operational policies, procedures, and systems to enhance the efficiency of CRI.
Northeastern University considers factors such as candidate work experience, education and skills when extending an offer.
Northeastern has a comprehensive benefits package for benefit eligible employees. This includes medical, vision, dental, paid time off, tuition assistance, wellness & life, retirement- as well as commuting & transportation. Visit https://hr.northeastern.edu/benefits/ for more information.
Northeastern University is an equal opportunity employer, seeking to recruit and support a broadly diverse community of faculty and staff. Northeastern values and celebrates diversity in all its forms and strives to foster an inclusive culture built on respect that affirms inter-group relations and builds cohesion.
All qualified applicants are encouraged to apply and will receive consideration for employment without regard to race, religion, color, national origin, age, sex, sexual orientation, disability status, or any other characteristic protected by applicable law.
Founded in 1898, Northeastern University is a private research university located in the heart of Boston. Northeastern is a leader in worldwide experiential learning, urban engagement, and interdisciplinary research that meets global and societal needs. Our broad mix of experience-based education programs?our signature cooperative education program, as well as student research, service learning, and global learning?build the connections that enable students to transform their lives. The University offers a comprehensive range of undergraduate and graduate programs leading to degrees through the doctorate in nine colleges and schools.