Lead Accounts Receivable Specialist

About the Job

Title: Lead Accounts Receivable Specialist
Job code
: 8224AA - Fin Pro 4-AP and/or AR
Employee Group: Civil Service
Full/Part Time (FTE): Full-time (1.0)
Regular/Temporary: Regular

Join University Finance at the prestigious University of Minnesota as a Lead Accounts Receivable Accountant and play a pivotal role in our Sponsored Financial Reporting team. As a member of this dynamic team, you will be responsible for providing direction, interpreting sponsor agreements, and acting as a go‑between with other university departments and sponsors for the SFR payment application, collections, and closeouts teams.

Your excellent negotiation and persuasion skills as well as your attention to detail, time management, and organizational skills will be essential in ensuring amounts owed to the University are paid. Your critical thinking, problem-solving, and decision-making skills will be useful when researching payment issues. Your excellent communication skills will come into play as you liaise with university departments and sponsors.

Join us at the University of Minnesota and make a meaningful impact as you support world‑class research.

Location and Work environment: McNamara Alumni Center, 200 SE Oak St, Minneapolis, MN 55455. Hybrid work environment (minimum 3 days in office).

Lead Responsibilities (30%)

• Provide direction, interpret sponsor agreements, and act as a go‑between with other university departments and sponsors for SFR payment application, collections, and closeout teams.
• Serve as lead trainer for SFR payment application, collections, and closeouts teams to include EFS as well as University/SFR processes, policies and procedures.
• Be involved in process improvement initiatives, including providing expert knowledge, system testing, drafting procedures, and training.
• Handle returned items entry.
• Supervise student worker(s).
• Serve as backup to Finance Manager.

Reconciliation of balance sheet accounts (25%)

• Conduct balance sheet reconciliations for assigned sponsored balance sheet accounts by the specified due date.
  • Work with appropriate department to resolve discrepancies.
  • Record program income and TIP income on appropriate sponsored projects and communicate completion to appropriate SFR accountant.
• Prepare assigned institutional year‑end financial schedules for sponsored activity.
• Explain account fluxes as requested by Accounting Services.

Letter of Credit (LOC) draws (25%)

• Process LOC draw requests in appropriate federal agency system (including non‑sponsored USDA draws).
• Communicate and work with internal and external parties to address any funding and/or award set‑up issues.

Oversight (10%)

• Run assigned oversight queries and address issues identified by the specified due date.
• Ensure all maintenance/transfer worksheets are posted or deleted prior to month‑end.
• Monitor (old) sponsored projects to determine the necessary actions to perform for closeout in EFS.
• Monitor On Account payments and assist payment application accountant in determining appropriate payment application.

Miscellaneous and other duties as assigned (10%)

• Pull backup documentation for audits as requested.
• Act as a backup for payment application accountant and assist with cash application and maintenance worksheets as needed.
• Act as a backup to the closeouts accountants and reopen awards/projects in EFS for closeout entries as needed.

Required Qualifications:

• BA/BS Degree and at least five years of related work experience OR a combination of related education and work experience to equal nine years.
• Experience with financial software and systems, such as ERP systems, spreadsheet software, and financial reporting tools.
• Understanding of accounts receivable and collections principles and practices.
• Ability to review and analyze financial data and reports accurately and efficiently.

Preferred Qualifications:

• Ability to interpret contract terms.
• Understanding of fund accounting.
• Reconciliation experience.
• Experience with training others.

SFR provides consistent and high‑quality financial stewardship of sponsored awards in order to maintain research excellence at the University of Minnesota.