Summary
The Senior Accountant-Grants will have a strong knowledge of US GAAP and will support grants and contracts post award management and reporting activities. The Sr. Accountant will provide support in audit and technical accounting/rules application, system reports and policies and procedures, and for the month-end close and field support.
Mission and History of Root Capital
Root Capital’s mission is to grow rural prosperity by investing in small and growing agricultural businesses that build sustainable livelihoods in Africa and Latin America.
Root Capital is a nonprofit social investment fund that grows rural prosperity in poor, environmentally vulnerable places in Africa and Latin America by lending capital, delivering financial training and strengthening market connections for small and growing agricultural businesses.
Root Capital clients include associations and private businesses that help create sustainable livelihoods by aggregating the products of hundreds, and often, thousands of farmers. Since our launch in 1999, we have provided more than $836 million in credit to over 570 small and growing agricultural businesses.
Root Capital envisions a thriving financial market serving agricultural businesses that generate long-term social, economic, and environmental sustainability for small-scale farmers and their communities around the world. Headquartered in Cambridge, Massachusetts, Root Capital currently has associated locations in Costa Rica, Mexico, Peru and Kenya.
Responsibilities
Grants and contracts accounting in accordance with US GAAP, state and federal regulations, and Root Capital’s policies
- Review all grant and contract agreements and apply proper accounting treatment in accordance with revenue recognition rules.
- Compile and organize supporting documentation for all grants and contracts
- Maintain revenue recognition schedules for fee for service contracts and work closely with managers to ensure timely recognition of contract revenue.
- Work closely with Investor Relations team to ensure complete and timely recognition of pledges receivable.
- Record cash receipts and reconcile the Investor Relations bank account monthly.
- Update the pledges and deferred revenue schedules monthly and reconcile against the general ledger.
Temporary restricted revenue releases and grant reporting
- Review monthly expenditures against grant budgets to verify appropriateness of the expenses and make revisions within Intacct accounting system as needed.
- Work closely with grant managers and FP&A team to review grant budgets and facilitate the grant close out process.
- Record indirect and loosely restricted grant releases process on a monthly basis.
- Update the temporary restricted schedule and reconcile against the general ledger.
- Work closely with grant managers for appropriate coordination and timing of reporting to fund providers.
System reports and policies and procedures
- Manage the grant coding process within accounting systems (Intacct/Concur) by timely activation and deactivation of grant codes.
- Take ownership of tracking of unallowable expenses, direct, and indirect expenses, and allocation processes within Intacct.
- Draft revenue recognition and cost allocation policies that are consistent with US GAAP and state/federal rules (2 CFR 200).
- Work closely with IT and Investor relations team to seek and implement efficient processes across systems.
- Create reports out of Intacct financial report writer to support scheduled and adhoc grant and contract reports.
Audit support and technical accounting/rules application
- Prepare audit schedules and support for all grants and contracts
- Respond to audit inquiries on a timely manner and coordinate with the Investor Relations team to provide requested support.
- Prepare audit confirmation templates for mailing to the auditors.
- Utilize technical accounting resources such as Grant Thornton online FASB codification portal and OMB 2 CFR 200 to research proper accounting treatment of grants and contracts.
- Work closely with Investor Relations and Legal teams to provide guidance on grant language and contingencies that affect accounting treatment.
Month-end close and field support
- Record journal entries and reconcile accounts on a monthly basis within the monthly close deadlines.
- Review consolidated operating expenses results to ensure proper coding across all of the key reporting dimensions (Grant, Programs, Location, GL).
- Work with regional accountants to address program and grant coding issues and adjustments.
- Support other close activities as needed.
Other tasks or projects as assigned.
This position description is intended to describe the general nature and level of work of this position, and is not an exhaustive list of all responsibilities, duties and skills required of individuals in this role.
Qualifications and Experience
- Bachelor’s degree in Accounting, Finance or Business Administration; Master’s degree is preferred
- 5 years of related experience
- At least 3 years of experience in a non-profit setting working with grants
- Excel skills at inter-mediate level or higher (Pivot tables, Macros, VLookups)
- Strong systems skills, including report writer using a web-based accounting software
- Experience with multi-currency and multi-entity transaction processing environment
- Very strong communication skills
- Proactive, service-oriented mind-set and a self-starter
- Ability to trouble-shoot routine situations and manage tasks independently
- Collaboration skills: strong ability to become key liaison between program staff, Investor Relations, FP&A and other stakeholders.
- Experience with government grants (e.g. USAID) strongly desired
- Bi-lingual (English & Spanish) preferred
- Passion for Root Capital’s commitment to worldwide poverty alleviation and environmental conservation.
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Applicants must be authorized to work in the United States.
Salary
Commensurate with experience.
Applications and Nominations
Applications will be accepted on a rolling basis. Candidates are encouraged to apply as soon as possible.
Applications including a resume and cover letter describing your interest, qualifications, language abilities, salary requirements, and how you learned of the position should be sent to jobs+sraccountant@rootcapital.org Please type “Sr. Accountant” followed by your name (Last, First) as the subject line of your email (e.g. “Sr. Accountant”– Marrero, Marc”). Finalist candidates will be required to provide at least three work-related references.
Root Capital is an equal opportunity employer.