Penn State Job Catalog

The defined natural career progression within or between job profiles.

Financial Reporting

The Financial Reporting Manager provides leadership and oversight for the University's financial reporting functions, ensuring the timely, accurate, and compliant preparation and submission of all required financial statements and reports; plays a critical role in maintaining financial integrity, regulatory compliance, and institutional credibility with external stakeholders, including auditors, regulators, funding agencies, and rating agencies; manages the Financial Reporting team; collaborates with internal and external partners; serves as the primary liaison with the University's external auditors; leads the implementation of new accounting standards; provides technical expertise on financial reporting matters; supports university-wide financial decision-making.

• Manage and mentor the Financial Reporting team, including task assignment, performance management, and professional development
• Oversee endowment accounting processes and various reporting functions with university-wide impact
• Direct the preparation of audited and unaudited consolidated financial statements, in accordance with Financial Accounting Standards Board (FASB) standards and other regulatory requirements
• Oversee the preparation of the OMB Uniform Guidance reporting package (Single Audit), appropriation reports, and subsidiary entity financial statements
• Serve as the primary liaison with external audit firms; facilitate audit planning, fieldwork, and information flow across departments
• Ensure the timely completion of audits in compliance with Commonwealth of Pennsylvania funding provisions
• Interpret and apply complex accounting standards (i.e., FASB, Uniform Guidance) and ensure compliance with evolving regulatory requirements
• Monitor and implement new accounting and reporting standards across university financial operations
• Partner with Strategic Finance Partners and administrative units (Budget, Treasury, Sponsored Programs) to ensure cohesive financial reporting
• Provide guidance to departments on cyclical reporting and financial data accuracy
• Analyze complex transactions from enterprise systems to support consolidated financial reporting and internal controls
• Drive continuous improvement in reporting processes, audit readiness, and internal control structures
• Assess the implications of regulatory changes and recommend necessary process and policy updates

Level:

– Manager

Base Description:

– Manages direct reports where primary duty is the management of a working unit.

Level Summary:

– Demonstrates proficient ability in work design, project management, financial planning and development of goals for accomplishing unit assignments. Reviews and guides work to ensure conformity to policy and effective approaches. Evaluates employee performance and recommend development opportunities. Demonstrates ability to coach employees. Presents and communicates key university indicatives and connects it to unit contributions. Provides broad guidelines. Develops, evaluates, enhances, and/or implements quality improvement practices. Recommends innovative solutions.

Supervisory Responsibilities:

– Oversees a team (typically 4 or more; no fewer than 2) full
– time direct reports of individual contributors and/or first level supervisors.

Fiscal Responsibilities:

– Monitors and tracks department/area budget
– May plan, forecast, and/or assist in developing budgets
– May have final signature authority for specific area

Problem Solving:

– Encounters varied and complex problems
– Helps to develop creative and/or novel approaches to resolve problems that are difficult in nature but within limited scope
– Modifies, adapts, or refines guidelines if necessary to resolve issues or problems

Independence of Action:

– Works independently on complex or strategic assignments
– Uses existing practices and advanced working knowledge to determine appropriate work methods for the team
– Reviews completed work of others for conformity to policy, and effectiveness of approach
– Delegates advanced tasks to others

Communication and Collaboration:

– Communicates with both internal and external audiences
– Collaborates closely with team members and various areas across the University
– Prepares written and/or verbal presentations or proposals on complex issues and delivers to a broad variety of audiences
– Communicates key university initiatives and how unit’s work contributes to their achievement
– Presents ideas, concepts and instructions in a clear manner, and uses persuasion and negotiation to build consensus and cooperation
– Establishes and maintains networks to facilitate successful communication among units

• Comp Grade – 14
• Minimum – $97,100.00
• MidPoint – $121,400.00
• Maximum – $145,700.00

• Auditing
• Change Management
• Continuous improvement
• Data Accuracy
• Data Analysis
• Financial reporting
• Policy development
• Prepare Financial Statements
• Regulatory compliance
• Risk Management
• Stakeholder engagement