JOBS: Connecticut Lottery- Financial Manager (Sports Betting Division)
TITLE: Financial Manager (Sports Betting Division)
LOCATION: Finance Department, Rocky Hill, Connecticut
SALARY RANGE: $90,000 – $140,000
Located in Rocky Hill, the Connecticut Lottery Corporation (CLC) is a quasi-public agency of the state of Connecticut. With a team of nearly 140 employees, we partner with over 2,800 retailers to sell our tickets statewide. With a strong focus on responsible gambling, we have achieved over $1 billion in sales and returned over $400 million to the state’s general fund in the last year alone.
Position Summary: Under the direction of the Director of Legal and Business Affairs – Sports Betting (SB) Division, the Financial Manager will manage all aspects of financial reporting for the sports betting operation, while also integrating financial results and reporting through CLC’s Chief Financial Officer. The position will be responsible for developing, applying, and monitoring the necessary internal controls related to the online and retail operation of sports betting in coordination with the sports betting operator and retail operators and their staff. The position will also oversee the work of SB Division financial staff members, as well as their training and development, and design and prepare the various financial analysis and reporting necessary for the successful operation of the Division.
Duties and Responsibilities:
- Oversees and/or performs the sports betting accounting function including: monthly reconciliations of the records from various systems and processes including gross handle, recognition of income, payments of prize liability, cash management, and the various transactions affecting our bank accounts; monthly bank reconciliations for all bank accounts; preparation of schedules of account activity required to derive monthly journal entries, and the posting of entries to the general ledger; banking and cash management responsibilities including the calculation of statutorily required payments.
- Supervises the work of the sports betting finance staff. Manages and participates in the assembly and analysis of financial data and results, including locating source data, creating and designing reports, and making relevant recommendations. Trains and develops staff members and monitors their work performance, including writing annual performance reviews.
- Assists Director of Legal and Business Affairs – SB Division in budgeting and financial reporting functions: coordinates the development of annual budget and production of periodic budget vs. actual variance reports; production of periodic statements provided to CLC and Sports Betting management and corporate Board of Directors.
- Oversees the accounts payable function for all contract and vendor payments, large value payments to winners, and retailer and affiliate payments.
- Oversees and/or performs the review and audit of retailer activity per location, including teller and kiosk activity, cash flow, and transaction types.
- Establishes and maintains accounting procedures in consultation with the CFO; recommends the development of new policies and procedures to ensure conformity with Generally Accepted Accounting Principles (GAAP).
- Works with other operating units, vendors, state agencies, and tax authorities regarding policies, procedures, and regulations.
- As assigned by the CFO, acts as liaison with financial statement auditors, auditors of public accounts, and Department of Consumer Protection auditors.
Knowledge, Skills and Experience:
Qualified candidates must possess a Bachelor’s degree in accounting, finance, or related field with a minimum of five (5) years of professional experience in managing accounting or auditing functions and staff. An advanced degree and/or certification as a Certified Public Accountant (CPA) is encouraged and/or may be substituted for experience. In addition, the successful candidate must possess: knowledge of and ability to apply management principles and techniques; demonstrated analytical and problem-solving ability; considerable knowledge of professional accounting and auditing principles and practices; considerable knowledge of budgeting principles; excellent written and oral communication skills; strong interpersonal skills; proven attention-to-detail and strong organizational skills; proven computer proficiency in Microsoft Word and Excel; ability to utilize EDP systems for financial management; experience in other software applications, including general ledger packages, desirable.
Interested candidates must submit a CLC application, available at www.ctlottery.org, along with a cover letter and resume to:
Connecticut Lottery Corporation
ATTN: Human Resources
777 Brook Street, Rocky Hill, CT 06067
Fax to (860) 713-2670; or e-mail to Careers@ctlottery.org
Only those CLC applications received by Tuesday, August 17, 2021, close of business will be considered. Offer of employment is subject to licensing and other applicable policies. The Connecticut Lottery Corporation (CLC) is an Affirmative Action/Equal Opportunity Employer that does not tolerate unlawful discrimination or harassment. The CLC follows all applicable federal, state, and local laws regarding non-discriminatory hiring and employment practices.
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