Financial Assistant, Yale Ventures

Overview

Under Direction of the Operations Manager, this position will provide a broad range of financial and administrative business services to support Yale Ventures operations. Oversees the distribution of commercialization income, including royalties, milestones, annual fees, patent reimbursements, material transfer agreements, and similar payments. This role ensures accurate and timely financial processing, reporting, and compliance with institutional policies and contractual obligations. Process entries using Workday Financials including Supplier Setups, Supplier Invoice Requests, Expense Reports, Journal Entries, Purchase Orders, Cash Deposits and Monthly Accruals. This position handles procurement inquiries, financial reconciliations and serves as a key resource for staff on financial policies. Additionally, the role involves tracking and re-establishing contact with lost inventors and maintaining accurate financial records.

Key Responsibilities

• Commercialization Income Distribution Management
  • Process commercialization income distributions, ensuring accurate calculations.
  • Set up and maintain Suppliers in Workday.
  • Request new Workday Projects as needed.
  • Maintain specialized royalty files, records, and distribution lists.
  • Notify faculty and outside institutions about the status of income distributions.
  • Track and locate lost inventors using resources like alumni databases, public records, and other tracking tools.
• Financial Processing & Compliance
  • Process cash deposits, payments to inventors, journal entries for inter-departmental and external transfers.
  • Work with Treasury to accurately record wire payments received.
  • Maintain the Technology Transfer financial system database, track checks received, approved and pending distributions, recovery of legal expenses, and reimbursements.
  • Ensure financial records are accurate, up-to-date, and completed timely.
  • Assist in the completion of the Monthly Financial Review Checklist.
• Accounts Payable & Procurement Coordination
  • Manage accounts payable and procurement activities for Yale Ventures.
  • Serve as the primary contact for financial transactions related to procurement and vendor payments.
  • Resolve AP holds to ensure smooth operations.
• Financial Reporting & Reconciliation
  • Prepare standardized and specialized financial reports, ensuring accuracy.
  • Identify, research, and resolve discrepancies.
  • Correct questionable transactions and follow up to maintain compliance with accounting policies.
  • Reconcile monthly financial statements and ensure expenditures are appropriately charged.
• Stakeholder Communication & Database Management
  • Serve as the primary point of contact for faculty, staff, and external stakeholders regarding financial transactions and policies.
  • Provide guidance to faculty and staff on financial policies and assist with completing routine financial forms.
  • Maintain and update the contact database, ensuring accuracy.

Principal Responsibilities

• Drafts preliminary financial sections of proposals.
• Reviews all proposals for accuracy, completeness, and compliance to grantor and University requirements and regulations.
• Monitors, controls, and maintains financial activity of accounts. Ensures expenditures are posted to proper accounts. Identifies, researches, and corrects questionable expenditures.
• Serves as the principal source of information on financial policies and procedures and financial activity.
• Reconciles and analyzes financial statements. Prepares standardized and specialized financial reports and analyses.
• Oversees and instructs support staff.
• Oversees the maintenance of financial records and files.
• Assists with the development and implementation of systems and procedures.
• May calculate weekly payroll for department staff.
• Performs clerical functions incidental to accounting activities.

Required Skills & Abilities

• Strong understanding of general accounting principles and financial management.
• Excellent analytical, organizational, and problem-solving skills.
• Ability to exercise independent judgment, maintain strict confidentiality.
• Strong communication and interpersonal skills for working with diverse stakeholders.
• Strong attention to detail and ability to manage multiple tasks effectively.
• Well-developed organizational skills, attention to detail, and the ability to manage multiple tasks efficiently in a high-volume environment.

Preferred Skills & Abilities

• Bachelor's degree in Accounting, Finance, or a related field; experience with Workday and advanced Excel skills.
• Experience in financial management, revenue distribution, or technology transfer preferred, including journal entries, cost transfers, and reconciliations.
• Experience with university financial systems and knowledge of institutional financial policies and procedures.
• Strong analytical skills and experience with financial forecasting and budget management.
• Prior experience in a higher education setting, providing financial support to faculty, staff, and students.

Required Education & Experience

Six years of related work experience, four of them in the same job family at the next lower level, and a high school level education; or four years of related work experience and an Associate degree; or little or no work experience and a Bachelor degree in a related field; or an equivalent combination of experience and education.

Pay & Schedule

• Hourly Range: $31.83
• Bargaining Unit: L34
• Compensation Grade: Labor Grade D
• Time Type: Full time
• Work Model: Hybrid