University of Massachusetts Medical School

  • Mgr, Accounting

    Minimum Salary US-MA-Worcester
    Job Location 1 week ago(4/11/2018 3:48 PM)
    Requisition Number
    # of Openings
    Posted Date
  • Overview


    Under the general direction of the Executive Director or designee, the Office of Technology Management (OTM) Accounting Manager  is responsible for reporting, budgeting, royalty revenue and distribution, database management, accounts payable, accounts receivable, invoicing, patent cost reimbursement, purchasing, financial analysis, operational data analysis, audit support, and information systems support for OTM.



    • Compile and generate Quarterly Report based on financial and operational data collected from Wellspring and financial databases, and other sources.
    • Collect, analyze and report Medical School data for the annual surveys.
    • Maintain standard reports and screens accessible in real-time by Case Managers and others.
    • Keep files up to date re: docket and licensing info, patent decisions, law firm, and expense and cap info.
    • Collect, analyze and report annual utilization data.
    • Other ad hoc and regular reporting including A/R aging, revenue and expense summaries, selected license analyses.
    • Maintain database of patent decisions/spending authorizations and centralized inventory of active licenses with links to company billing info, sublicense info, IIAs, dockets, and inventors.
    • In consultation with the Executive Director, prepare annual departmental budget request using the Adaptive Insights cloud application. Analyze past spending and ascertain future funding needs of department to generate budget line-items.  Justify budget requests with written explanations as required.
    • Prepare Revenue Budget projecting 5 years of expected revenue. Perform license-by-license analysis of past performance and future license obligations.
    • Manage the receipt, deposit, recording, and reconciliation of license revenues in accordance with the Medical School’s cash receipting policy. Monitor application of receipts against license agreement terms and conditions to ensure proper and complete payment. Monitor Summit activity to identify and record wire transfers and to ensure proper accounting of deposited funds.
    • Generate and transmit invoices; Post electronic and check receipts to A/R and close out invoices. Follow-up with licensee to resolve payment discrepancies as needed. Generate monthly aging report.
    • Monitor Summit activity to ensure proper accounting of departmental expenses and open commitments. Using Summit, reconcile monthly legal expenses, royalty revenues, and distributions to inventors and IIAs. Identify and resolve discrepancies
    • Distribute license revenues to inventors, departments, and affiliated organizations consistent with University policy, inventorship, license agreements, inter-institutional agreements, tax requirements, and other relevant criteria.
    • Monitor status and movement of distributions through the approval and payment process. Reconcile payments to Summit. Update financial database to reflect reconciliation and current status.
    • Manage the receipt, adjudication, processing, payment, and recording of legal invoices. Maintain database to effectively track legal expenses by docket, law firm, and date with links to pdf copies.
    • Seek reimbursement of certain patent expenses from licensees and IIAs.
    • Perform other duties as required.



    • Bachelor’s degree in Accounting, Finance, or equivalent experience
    • 7 years in accounting operations, budget development, and cost analysis or related experience
    • Knowledge of general business and accounting principles
    • Demonstrated advanced computer skills in Microsoft Excel and Access
    • Demonstrated ability to develop and maintain accounting systems for not for profit entities

    Additional Information

    • CPA Preferred
    • Expertise with the following Systems is a plus: Peoplesoft, Summit, BuyWays, Wellspring, Adaptive Insights, Sharepoint, CPI, iEdison, Addgene, MS Access, MS Office, Adobe Acrobat, Google Patents, EDGAR.


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