Draper is an independent, nonprofit research and development company headquartered in Cambridge, MA. The 2,000+ employees of Draper tackle important national challenges with a promise of delivering successful and usable solutions. From military defense and space exploration to biomedical engineering, lives often depend on the solutions we provide. Our multidisciplinary teams of engineers and scientists work in a collaborative environment that inspires the cross-fertilization of ideas necessary for true innovation. For more information about Draper, visit www.draper.com.
Job Description Summary:
The Senior Financial Reporting Analyst ("Sr. FRRA") is part of a 80+ member Finance organization that directs the accounting, financial planning, treasury, cost accounting, program finance, and government compliance activities for Draper. This role currently reports to the Director, Corporate Controller and will provide critical support to the business in revenue recognition, contract profitability, and compliance with generally accepted accounting principles. The Analyst is responsible for day-to-day analysis of new contracts, modifications, and recognition status, as well as weekly and monthly revenue recognition processes leading to accurate and timely revenue recognition for Draper. The (Sr. FRRA) also leads the preparation of Draper’s Form 990 Return, researching new accounting pronouncements and their applicability to Draper’s method of accounting, and annual preparation of Draper’s external financial statements.
Duties/Responsibilities:
- Maintain revenue recognition policies and procedures documentation and develop and communicate revenue status reports.
- Provide revenue recognition training to cross functional teams including Programs, Contracts, Financial Planning & Analysis, Legal, as required.
- Review and assess new contracts with customers against ASC606 criteria, document assessment and conclusions, and work with billing department to timely establish revenue plans in the ERP system.
- Monitor contract modifications, risk authorizations, authorizations to proceed, and funding levels to determine impact to revenue recognition.
- Ensure the integrity, consistency, reliability, and efficiency of the processes employed in the revenue recognition function.
- Analyze contract incentive and performance fee applicability at the appropriate stage.
- Monitor the Financial Accounting Standards Board for new Accounting Standards updates, perform research on new pronouncements, and draft position papers for senior management review of the applicability of these pronouncements on Draper’s methods of accounting.
- Collect and analyze program estimates at completion (“EAC”) on fixed priced contracts for reasonableness.
- Continually identify and implement opportunities for revenue system, financial statement, tax return, and business process improvements to increase efficiencies and shorten financial closing cycles.
- Lead the preparation of Draper’s GAAP financial statements together with related footnotes.
- Other duties as assigned.
Skills/Abilities:
- Ability to read contracts/agreements/accounting pronouncements and identify pertinent terms and issues to provide appropriate and practical accounting guidance and issue resolution to Program managers.
- Ability to identify key risk areas, contemplate alternatives, draw conclusions and recommend and implement changes to mitigate any risk to Draper.
- Extremely detail oriented, goal focused, organized, and able to consistently meet or exceed deadlines.
- Ability to review contracts and apply ASC606 requirements to determine appropriate revenue recognition method.
- Knowledge of government contracts, in particular within the defense industry.
- Advanced level Microsoft Excel proficiency.
- Excellent analytical and problem solving skills including high degree of comfort working with databases and designing queries.
- Excellent oral and written communications skills with the ability to effectively translate complex ideas and methodologies to simple terms for management, coworkers, external advisors, and other non-financial internal departments.
- Knowledge of Tier One ERP system (e.g., Oracle, PeopleSoft, SAP, Deltek).
- Strong collaboration skills.
- Highly motivated self-starter capable of working independently.
- Ability to plan, organize, and prioritize tasks, meet deadlines and drive initiatives to completion.
- Ability to work in a fast-paced environment with ability to meet critical deadline situations.
Education:
Bachelor's degree in Accounting or Finance required, with prior revenue recognition and financial statement preparation using ERP systems.
Experience:
5 - 7 years of progressive accounting experiences with an emphasis on technical accounting exposure.
Job Location - City: Cambridge
Job Location - State: Massachusetts
Job Location - Postal Code: 02139-3563
Our work is very important to us, but so is our life outside of work. Draper supports many programs to improve work-life balance including workplace flexibility, employee clubs ranging from photography to yoga, health and finance workshops, off-site social events, and discounts to local museums and cultural activities. If this specific job opportunity and the chance to work at a nationally renowned R&D innovation company appeals to you, apply now at www.draper.com/careers.
Equal Employment Opportunity:
Draper is committed to creating a diverse environment and is proud to be an affirmative action and equal opportunity employer. We understand the value of diversity and its impact on a high-performance culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, disability, age, sexual orientation, gender identity, national origin, veteran status, or genetic information. Draper is committed to providing access, equal opportunity and reasonable accommodation for individuals with disabilities in employment, its services, programs, and activities. To request reasonable accommodation, please contact hr@draper.com.
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