Director of Finance and Accounting

Why the American University of Iraq – Baghdad?

Opening its doors in January of 2021, the new American University of Iraq – Baghdad (AUIB) began as a dream of influential individuals in Iraqi and the United States business, industry and government who want to see a world-class institution of higher learning established in the city, reminiscent of the days when Baghdad was an educational mecca and flourishing capital of the Muslim world. With a great library, palatial college buildings and student centers, state-of-the-art classrooms, laboratories, and athletic facilities, AUIB will be a beautiful campus attracting students, faculty, and staff from throughout the world.  We invite you to join us in this exciting new venture.

Director of Finance and Accounting

This position will report directly to the President.

JOB DESCRIPTION:

Responsible for directing the fiscal functions of the American University of Iraq-Baghdad in accordance with generally accepted accounting principles issued by the Iraqi Unified Accounting System (IUAS) and US Generally Accepted Accounting Principles (US GAAP), and any other regulatory and advisory organizations AUIB has accountability to and in accordance with financial management techniques and practices appropriate within institutions of higher learning.

Responsibilities

• Responsible for the direct management of several key accounting and reporting functions within the University, including budgeting, planning, and forecasting; financial and regulatory reporting; internal controls and risk management; research and analysis; the procurement process, and compliance with contractual documents and local banking and government regulations.
• The Director of Finance and Accounting is involved in supporting the payroll and employee benefits functions of the University.
• Develop the University annual budgets that meet the principles and requirements of the University.
• Provide timely and accurate analysis of budgets, financial reports and financial trends to assist the Vice President for Administration and Finance, President, the Board of Trustees, and other senior leadership team in decision-making process.
• Expand, develop, implement, and provide guidance in formulating policies and procedures of the University that will improve the overall operation and effectiveness.
• Provide strategic financial input and leadership on decision making issues affecting the University. 
• The Director is involved and assists the VPAF with treasury and cash management duties; and serves as a member of the leadership team. The Director of Finance and Accounting will ensure that the university has the policies, procedures, internal controls, segregation of duties and systems in place to support effective implementation and to ensure flawless audits.
• Works closely with the Deans, Directors, and other key personnel not only to educate them regarding the financial procedures but also to explore how the finance function can support the University wide operations. In addition, the Director of Finance and Accounting will partner with senior leadership, the human resources, enrollment management to enhance and better integrate finance functions amongst these key administrative departments.

Budgeting and Forecasting

Manage the annual budget, expense, and capital budgeting process including providing staff with budget guidance, timelines, tools, training, and hands-on assistance. Promote a budgeting culture and discipline characterized by efficiency approach for creating and justifying annual budgets.

Conduct revenue and expense trend analysis and benchmarking to prepare a budget narrative and schedules that explain and substantiate the proposed budget including budget presentations to the senior leadership, President, and the Board of Trustees.

Internal and External Reporting

Prepare accurate, comprehensive, timely, and user-friendly financial reports and information in support of university’s internal and external reporting requirements, including (1) financial budgets, projections, and crucial data to facilitate long-term financial planning; (2) monthly budget vs. actual variance reports; (3) financial statements and footnotes required by the external auditors, lenders, and donors to help monitor the financial health and direction of the university.

Financial Analytics, Advice, and Counsel

Conduct in depth financial analysis, provide expert financial perspective and opinions, proficient in spreadsheets to facilitate complex analysis, and instrumental in helping to assess risk, analyze efficiency, and inform business decisions made by the senior leadership.

Annual Audits

Serve as a liaison to the external audit team during their preliminary and final on-site field work by ensuring that the university has timely and accurately fulfilled all its obligations and responsibilities as set forth in the terms of engagement letter for the preparation and fair presentation of the financial statements in accordance with US GAAP and other services requested.

Procurement Management

Ensure all financial obligations, payouts, invoices, employee expense reports and so forth are processed in a timely and accurate manner. The payment of each financial obligation is properly authorized and processed according to the established policies and procedures. Ensure that the payment of goods and services are properly matched to authorized purchase orders and approved shipping and receiving documents. The University’s purchase and employee expense reports are administered in accordance with established policies and procedures.

Payroll, Taxes, and Employee Benefits

Supporting the Human Resources department in managing monthly payroll function, including the accuracy and timeliness of employee pay, time & attendance administration, and compliance with employee social security taxes and other benefits impacting payroll.

Commitment to Continuous Improvement

Demonstrate an on-going commitment to continuous improvement by implementing systems, structure, policy, and/or process enhancements that improve the quality of the Finance and Accounting department’s services to the University.

Qualifications

• Master’s degree (MA) or equivalent; or 10 to 15 years related experience and/or training; or equivalent combination of education and experience.
• An experienced leader and financial executive with appropriate industry experience, preferably in Higher Education, US GAAP and Donor Funded institutions.
• An energetic, forward-thinking and creative individual with high ethical standards and an appropriate professional image.
• A strategic visionary with sound technical skills, analytical ability, good judgment, and strong operational focus.
• An intelligent and articulate individual who can relate to people at all levels of an organization and possesses excellent communication skills.
• A good educator who is trustworthy and willing to share information and serve as a mentor.

Application Procedure: 

Applications should include:

• Cover letter addressing the requirements of the position
• Updated Curriculum Vitae.
• Copies of Passport Data information page.
• References (contact details) for up to three individuals who are familiar with your work.
• Copies of all formal academic degrees and certificates.
• Copies of your Transcripts.

Applications will be accepted until the position is filled. Confidential review of materials and screening of candidates will begin immediately. 

Please apply through AUIB website OR send your application and supporting documents to the following email address: jobs@auib.edu.iq 

You MUST put the position title in the Subject line.

If an applicant has any relatives working at AUIB this must be disclosed in writing in the cover letter.

If you have not heard back from us after 3 weeks, it means that your application was not successful.