The University of Pennsylvania, the largest private employer in Philadelphia, is a world-renowned leader in education, research, and innovation. This historic, Ivy League school consistently ranks among the top 10 universities in the annual U.S. News & World Report survey. Penn has 12 highly-regarded schools that provide opportunities for undergraduate, graduate and continuing education, all influenced by Penn's distinctive interdisciplinary approach to scholarship and learning. As an employer Penn has been ranked nationally on many occasions with the most recent award from Forbes who named Penn one of America's Best Employers By State in 2021.
Penn offers a unique working environment within the city of Philadelphia. The University is situated on a beautiful urban campus, with easy access to a range of educational, cultural, and recreational activities. With its historical significance and landmarks, lively cultural offerings, and wide variety of atmospheres, Philadelphia is the perfect place to call home for work and play.
The University offers a competitive benefits package that includes excellent healthcare and tuition benefits for employees and their families, generous retirement benefits, a wide variety of professional development opportunities, supportive work and family benefits, a wealth of health and wellness programs and resources, and much more.
COVID-19 vaccination is a requirement for all positions at the University of Pennsylvania. New hires are expected to be fully vaccinated before beginning work at the University. For more information about Penn's vaccine requirements and the use of Penn Open Pass, visit the https://coronavirus.upenn.edu/ for the latest information.
Posted Job Title
Accountant B - Capital Accounting
Job Profile Title
Job Description Summary
The Division of Facilities and Real Estate Services (FRES) provides the expertise, business process, policies and standards required to plan, design, construct, operate, maintain and renew the physical assets of the University, excluding the health system. In addition, the Division, comprised of approximately five Departments, is responsible for the strategic planning, management and operation of non-academic University property, and collaborating with the neighborhood to create a safe, diverse and economically vibrant destination. With close to 12M square feet of space, FRES maintains 186 buildings on a campus of 276 acres, completes over 60,000 maintenance requests per year, and starts approximately 250 projects a year. FRES is comprised of the following Departments: Administration, Office of the University Architect, Design and Construction, Real Estate, Operations and Maintenance.
The University of Pennsylvania is implementing a campus transformation entitled Penn Connects (http://www.pennconnects.upenn.edu). This comprehensive, award winning effort is expanding the campus over the next 20 years, including the construction of new academic research and recreational facilities. In addition, the University has secured $300M in Century Bond funding and continues to upgrade existing facilities over the coming years. https://www.facilities.upenn.edu/
Accountant B - Capital Accounting
This position, reporting to the Capital Accounting Manager, has daily operational responsibility in accounts payable functions, general ledger accounting, and recording general and budget journal entries. This accountant is responsible for processing all cost related tasks in EBuilder and ensuring accurate and timely completion of these in BEN Financials for all projects with a total estimated cost Responsibilities/Duties:
Manage and review purchase orders, change orders and submitted documentation such as bids / bid waivers, interpreting contract language relative to Construction Management rates, general conditions and self-performed work to ensure compliance with University Purchasing policies. The total project budgets can range from under $50k to $500K. 20%
Record approved Capital Project Budgets to the financial system, reconcile projects and serve as a liaison with the Treasury Department on the certifications for project funding. Comprehensively review and analyze Construction Applications for Payment (AIA documents) for accuracy, completeness and forecasting cash flows. They must summarize, track and report exceptions and future corrections to the project managers to minimize audit findings. 20%
Troubleshoot accounts payable functions, review, research, and release invoices on hold to ensure compliance with GAAP and utilize capital accounting procedures for accurate evaluation and recording of CIP. Generate reports and prepare project reconciliations monthly, identifying, analyzing, investigating, and correcting variances for both expense and accrual items, between EBuilder and BEN Financials. 10%
Assist in the preparation of financial and management reports such as monthly Cost to Budget Variance Analysis, Quarterly Cash Flow Summary by Project, and other ad hoc reports. Work with Project Managers to question / resolve data inconsistencies. 10%
Assign asset values to appropriate categories when preparing a project componentization in accordance with guidelines issued by the University Property Management Department. Project componentizations are prepared, reviewed, and submitted to the Comptroller's Office upon occupancy / substantial completion and again at closeout, such that new buildings / renovations can be categorized properly and cleared from Construction in Progress to the Fixed Asset System and depreciated accurately and timely. 10%
Enter invoices in EBuilder and once approved, review invoices to ensure proper recording of accounts payable. Update EBuilder with the invoice status from BEN Financials. Respond to vendor and internal inquiries. Update invoice processing database reports to insure compliance with P2P initiatives. 10%
Work closely with Project Managers to reconcile projects for closing in BEN Financials and EBuilder by releasing open encumbrances on purchase orders, review, research and correct all recorded journal entries, complete the financial closeout process in EBuilder and plan project submissions for approval based on the current capital plan. 10%
Respond to vendor, school / center and internal inquiries. Analyze information by project or across projects as needed or at the request of the Executive Director of Design and Construction. 5%
Assist Capital Accountant / Analysts in the review of Payment Application for projects with total estimated costs over $50 million. 5%
Associate Degree in Accounting and at least 2 years of accounting and book keeping experience or an equivalent combination of education and experience.
Strong knowledge of general accounting functions and adherence to Generally Accepted Accounting Principles.
Proficiency using Microsoft Office suite (Excel, Outlook, and Word) required.
Must have strong analytical skills along with attention to detail and accuracy in reporting and posting entries.
Strong verbal and written communication skills.
Must have strong initiative with the ability to manage multiple simultaneous projects, prioritize work tasks, and work either independently or as part of a team consisting of a wide variety of individuals.
Bachelors in Accounting or Finance or Accounting experience in project accounting.
Proficient with accounting system and spreadsheet analysis software (preferably BEN, Webi and Excel).
Experience using EBuilder project management system.
***For consideration, interested candidates should submit a resume and a cover letter expressing your interest in this position, is preferred.***
Job Location - City, State
Department / School
Facilities and Real Estate Services
$36,401.00 - $55,814.33
Affirmative Action Statement
Penn adheres to a policy that prohibits discrimination on the basis of race, color, sex, sexual orientation, gender identity, religion, creed, national or ethnic origin, citizenship status, age, disability, veteran status, or any other legally protected class.
Background check required after a conditional job offer is made. Consideration of the background check will be tailored to the requirements of the job.
Health, Life, and Flexible Spending Accounts: Penn offers comprehensive medical, prescription, behavioral health, dental, vision, and life insurance benefits to protect you and your family's health and welfare. You can also use flexible spending accounts to pay for eligible health care and dependent care expenses with pre-tax dollars.
Tuition: Take advantage of Penn's exceptional tuition benefits. You, your spouse, and your dependent children can get tuition assistance here at Penn. Your dependent children are also eligible for tuition assistance at other institutions.
Retirement: Penn offers generous retirement plans to help you save for your future. Penn's Basic, Matching, and Supplemental retirement plans allow you to save for retirement on a pre-tax or Roth basis. Choose from a wide variety of investment options through TIAA and Vanguard.
Time Away from Work: Penn provides you with a substantial amount of time away from work during the course of the year. This allows you to relax, take vacations, attend to personal affairs, recover from illness or injury, spend time with family—whatever your personal needs may be.
Long-Term Care Insurance: In partnership with Genworth Financial, Penn offers faculty and staff (and your eligible family members) long-term care insurance to help you cover some of the costs of long-term care services received at home, in the community or in a nursing facility. If you apply when you're newly hired, you won't have to provide proof of good health or be subject to underwriting requirements. Eligible family members must always provide proof of good health and are subject to underwriting.
Wellness and Work-life Resources: Penn is committed to supporting our faculty and staff as they balance the competing demands of work and personal life. That's why we offer a wide variety of programs and resources to help you care for your health, your family, and your work-life balance.
Professional and Personal Development: Penn provides an array of resources to help you advance yourself personally and professionally.
University Resources: As a member of the Penn community, you have access to a wide range of University resources as well as cultural and recreational activities. Take advantage of the University's libraries and athletic facilities, or visit our arboretum and art galleries. There's always something going on at Penn, whether it's a new exhibit at the Penn Museum, the latest music or theater presentation at the Annenberg Center, or the Penn Relays at Franklin Field to name just a few examples. As a member of the Penn community, you're right in the middle of the excitement—and you and your family can enjoy many of these activities for free.
Discounts and Special Services: From arts and entertainment to transportation and mortgages, you'll find great deals for University faculty and staff. Not only do Penn arts and cultural centers and museums offer free and discounted admission and memberships to faculty and staff. You can also enjoy substantial savings on other goods and services such as new cars from Ford and General Motors, cellular phone service plans, movie tickets, and admission to theme parks.
Flexible Work Hours: Flexible work options offer creative approaches for completing work while promoting balance between work and personal commitments. These approaches involve use of non-traditional work hours, locations, and/or job structures.
Penn Home Ownership Services: Penn offers a forgivable loan for eligible employees interested in buying a home or currently residing in West Philadelphia, which can be used for closing costs or home improvements.
Adoption Assistance: Penn will reimburse eligible employees on qualified expenses in connection with the legal adoption of an eligible child, such as travel or court fees, for up to two adoptions in your household.
To learn more, please visit: https://www.hr.upenn.edu/PennHR/benefits-pay
Penn’s academics are boosted by its inherent culture and ecosystem of innovation. You name it, if it’s cutting-edge, the University’s faculty—and students—have their hands in it. Grounded in the liberal arts and sciences and enriched by the integrated resources of four undergraduate and 12 graduate schools, Penn offers students an unparalleled education informed by inclusivity, intellectual rigor, research, and the impetus to create new knowledge to the benefit of individuals and communities around the world.