Position Location: This position is based in Brookings' Washington, DC office. The person hired for this position must be willing to move to or currently reside in Washington DC, Maryland, or Northern Virginia by their date of hire.
Operating status: Brookings eligible employees are currently authorized to work remotely but will be moving towards a hybrid plan later this year, which will require working both in the office and remotely. All vaccinated Brookings employees who wish to work from the office can do so. Brookings policies on masks and other pandemic mitigation measures will continue to be informed by DC and CDC guidelines.
Vaccine Policy: Brookings has made the safety of our staff and our surrounding community a top priority. As part of that commitment, Brookings recently announced that staff on Brookings campus this fall are required to be vaccinated against COVID-19. Brookings will require all staff and visitors to submit proof of complete vaccination against COVID-19 to be in Brookings buildings.
As a visitor and/or a new employee at Brookings, you will be required to comply with the vaccination policy. Individuals invited for an in-person job interview or hired as an employee that (i) have a qualifying medical condition that contraindicates a COVID-19 vaccination, or (ii) who object to being vaccinated based on a sincerely held religious belief, may request a reasonable accommodation.
Ready to contribute to Brookings success?
The Assistant Director of Finance is responsible for the preparation, management, implementation, and reconciliation of budgets, financial transactions, grants, and contracts within the Global Economy and Development Program. This includes project budget formulation, revenue forecast, drafting grant proposal budgets, grant and contract management including negotiation and compliance, monitoring, expenses tracking, financial reporting to donors, drafting contracts, strategic analysis, and other tasks as requested for the Center for Universal Education (CUE). Works closely with project staff, Managing Director (MD), finance team, Global Development Team and Office of Financial Planning and Management (OFPM).
Budget Formulation and Financial Management (55%)
- Forecasts, updates, monitors, and manages obligations, expenditures, revenues and project budgets in coordination with project principles and the Managing Director; keeps all parties aware of potential opportunities or risks.
- Assist MD in providing analysis, problem-solving and strategic planning for the CUE budget.
- Develops proposal budgets and monitor grants, pledges, and cash flow to allocate revenue accordingly and flag potential funding gaps.
- Provides guidance to Center for Universal Education (CUE) director and scholars on financial allocations to maximize center resources through in-depth financial analysis of revenue and expenses for financial sustainability.
- Identifies financial risks, inefficiencies, and opportunities for the effective financial management of CUE.
- Implements grant setup and terms, including reviewing and routing award documents for signature, entering grant details into PeopleSoft, monitoring project expenditures against each grant, and ensuring proper documentation and financial reporting to keep in compliance with funding conditions, contractual obligations, and auditing criteria.
- Evaluates and analyzes actual performance and progress against budgets/forecast and prepares monthly budget to actual reports including variance analysis for Director of Finance and scholars.
- Prepares annual CUE budget and quarterly forecasts in Brookings Budgeting and Reporting System (BBRS) for the Managing Director to submit to the Office of Financial Planning and Management for Board review and approval.
- Prepares annual scholar footprints and maintains the template for Global Finance team.
- Provides ad hoc financial analysis as directed by the Managing Director.
- Provides financial training and guidance to CUE staff as needed.
Grant and Contract Management and Administration (25%)
- Under the direction of the Managing Director, negotiates the terms and conditions of new grants and awards with internal and external stakeholders for compliance with Brookings policies and donor requirements.
- Reviews all Global grants and contracts; suggests edits and adds standard Brookings language, when applicable; serves as Global’s primary point of contact within Brookings on all grant and contract edits.
- Discusses current and new projects with Managing Director within portfolio to develop an understanding of Global research priorities for financial impact
- Work with Managing Director, Global finance team, Grants Administration and Office of General Counsel (OGC) to ensure the grant and contract process is coordinated and timely.
- Drafts, reviews and/or pre-approves research contracts including payment amounts and terms, memorandums of understanding, vendor contracts and other contractual agreements for the program; liaises directly with consultants on contract edits.
- Coordinates preparation of financial reports to funders.
- Tracks and monitors contractual obligations and ensures compliance; works with scholars and consultants to ensure deliverables are met timely and executes contract amendments as needed.
- Manages relevant contract payments.
- Serves as back-up reviewer/approver of proposals, contracts, and new grants (NGARs) when MD is unavailable.
Procurement Management (20%)
- Processes, reviews and/or approves credit card transactions, requisitions, invoices, travel expense claims and other financial transactions up to $15,000.
- Oversees procurement process and is responsible for the timeliness of transactions, paperwork submission and the accuracy of posted charges.
- Along with MD, serve as liaison with the Controller’s office on matters including but not limited to accounting, accounts receivable and procurement.
- Approves, in SharePoint, business class travel and lodging over allowed rates with email approval from the Managing Director.
- Authorizes and monitors, on monthly basis, all expenses associated with projects within portfolio and submits journal entries as necessary for corrections; steward compliance with Brookings-wide policies, procedures and processes to ensure a clean audit for the portfolio
- Produces expense reports upon request.
- Ensures employee time is appropriately allocated across all CUE projects.
- Assists and advises staff members on all institutional financial processes including Pcard reconciliation, conference planning, research contracts, external billing, memorandums of understanding, reimbursements, etc.
Ready to make an impact? In this role, you will support Brookings values of collegiality, respect, inclusion, diversity and community, and bring the following qualifications:
Bachelor’s degree required (degree in business administration, finance, or management preferred). Minimum six years of experience in business administration, public policy administration, budget and grant management, and related fields required. A background in a research or academic or nonprofit setting is strongly preferred. Must be authorized to work for any employer in the U.S.