Senior Financial Manager (Job ID: 2024-3471) - The Brookings Institution

Overview

Join one of the most influential, most quoted and most trusted think tanks!  

The Brookings Institution is a nonprofit public policy organization based in Washington, DC. Our mission is to conduct in-depth research that leads to new ideas for solving problems facing society at the local, national and global level.  

We bring together leading experts in government and academia from all over the world, rooted in open-minded inquiry and representing diverse points of view, who provide the highest quality research, policy recommendations, and analysis. Research topics cover a full range of public policy issues in economics, foreign policy, development, governance and metropolitan policy. 

With fair and transparent business practices, clear communication, mutual respect, and a collaborative atmosphere that offers both professional and personal development opportunities, Brookings offers an inclusive and welcoming workplace that values the efforts of all contributors

The Global Economy and Development program at Brookings aims to shape the policy debate on how to improve global economic cooperation and fight global poverty and sources of social stress.   The program’s research agenda is related to policies and trends affecting developing countries including global poverty, universal education, the global middle class, fragile states, globalization, inequality, foreign assistance and development effectiveness.

Position Location: This position is hybrid. Hybrid positions combine regular in-person presence at our Washington, DC office with the option of at least two days of remote work each week.

Vaccine Policy: Brookings requires all staff to submit proof of complete vaccination against COVID-19 to be in Brookings buildings.     Individuals that (i) have a qualifying medical condition that contraindicates a COVID-19 vaccination, or (ii) who object to being vaccinated based on a sincerely held religious belief, may request a reasonable accommodation.  Brookings policies on masks and other pandemic mitigation measures will continue to be informed by DC and CDC guidelines.  

Responsibilities

Ready to contribute to Brookings success?

The Senior Financial Manager is responsible for the preparation, management, implementation, and reconciliation of budgets, financial transactions, and grants within the Global Economy and Development Program. This includes project-budget formulation, revenue forecasting, drafting grant proposal budgets, grant monitoring, expenses tracking, financial reporting to donors, and other tasks as requested. Works closely with project staff, Managing Director (MD), finance team, Global Development Team, and Office of Financial Services (OFS).

Budget Formulation and Grant Monitoring (65%)

• Forecasts, updates, monitors, and manages obligations, expenditures, revenues, and project and department budgets in coordination with project principals and the MD; keeps parties aware of potential opportunities or risks.

• Develops proposal budgets and monitors grants, pledges, and cash flow to allocate revenue accordingly and flag potential funding gaps.

• Implements grant setup and terms, which includes review and routing of award documents for signature, entering grant details into NGAR and provide budget information for Workday set-up, monitoring project expenditures against each grant, and ensuring proper documentation and financial reporting to maintain compliance with funding conditions, contractual obligations, and auditing criteria.  

• Manages and tracks revenue allocation and funding distribution; ensures sound fiscal stewardship of grant funds.

• Prepares monthly budget to actual reports, including variance analysis for presentation to project principals and the Managing Director and incorporation into dashboard reports.

• Monitors all monthly financial costs associated with projects within portfolio and submits journal entries as necessary for corrections. Steward compliance with Brookings-wide policies, procedures, and processes to ensure a clean audit for the portfolio.

• Allocates labor across portfolio in collaboration with project principals and adhering to guidelines from the grant agreement.

• Prepares annual and quarterly forecasts in Adaptive for portfolio areas for the MD to submit to OFS for Board review and approval.

• Provides analyses, reporting, and other materials to facilitate the review and decision making on financial matters related to the projects, as well as on cost savings and effective cross program efficiencies to best utilize program resources.

• Identifies financial risks, inefficiencies, and opportunities for the effective financial management of portfolio areas.

• Works on ad hoc financial assignments as requested by the Managing Director.

Finance and Procurement Management (35%)

• Provides budgetary approval for contracts and associated payments; provides guidance to Contracts Manager as needed.

• Coordinates preparation of financial reports to funders.

• Processes, reviews and/or approves credit card transactions, requisitions, invoices, travel expense claims, and other financial transactions.

• Oversees procurement process and is responsible for the timeliness of transactions, paperwork submission and the accuracy of posted charges.

• Assists and advises staff members on all the Institution’s financial policies and processes, including Pcard use, conference planning, research contracts, external billing, memorandums of understanding, reimbursements, etc.

• Produces expense reports upon request.

• Serves as a back-up approver for contracts, proposals, and new grants (NGAR) for the Managing Director as needed.

• Serves as a liaison with other Global financial and development staff, as well as other research programs and departments including: Central Development, Accounting, Grants Administration departments, as well as OGC.

• Maintains electronic folders of financial records in portfolio.

Qualifications

Ready to make an impact? In this role, you will support Brookings values of collegiality, respect, inclusion, diversity and community, and bring the following qualifications:

Education/Experience Requirements

Bachelor’s degree required (preferably in business administration, accounting, finance, or management).  Minimum four years of experience in business administration, budget and grant management, accounting and related fields required.  A background in a research or academic or nonprofit setting is strongly preferred. Must be authorized to work for any employer in the U.S.

Knowledge / Skill Requirements

Ability to multi-task and be flexible on workflow; knowledge of Microsoft (MS) Office Suite and strong proficiency in MS Excel required, including the use of advanced formulas, pivot tables, charts and other data analysis tools. Data visualization skills a plus. Must be familiar with budgeting or accounting software; knowledge of Workday a plus. Must have ability to manage a diverse portfolio of funding from proposal through final reporting. Must have proven ability to build and manage complex, multi-million dollar budgets to include budget compliance and forecasting. Knowledge of foreign government grants is preferred. 

Must have ability to analyze data for historical perspective and risk management. Initiative and a high degree of judgment, tact and discretion in dealing with relationships at all levels, inside and outside of the Program, in addition to managing confidential and sensitive matters. Proven ability to work independently and efficiently under pressure and to handle multiple tasks simultaneously. Ability to work well in a team environment as a creative thinker and quick learner. Adherence to deadlines and attention to detail is essential. Experience working in with principal investigators or other researchers preferred, ideally on projects that have international reach.

Additional Information:

What can we offer you? Brookings provides a generous benefit package that is comprehensive and includes both traditional benefits and unique offerings. 

Brookings requires that all applicants submit a cover letter and resume. Please attach your cover letter and resume as one document when you apply. Please note: if you have applied to more than one Brookings job opening you should add a position-specific cover letter as a separate attachment. 

Successful completion of a background investigation is required for employment at Brookings. 

Brookings welcomes and celebrates diversity in all its forms.  We welcome applications that reflect a variety of backgrounds based on ideology, race, ethnicity, religion, gender, sexual orientation, gender identity or expression, disability, veteran status, first generation college goers, and other factors protected by law. Brookings is proud to be an equal-opportunity employer that is committed to promoting a diverse and inclusive workplace.