Director, Finance & Administration - The J. Willard and Alice S. Marriott Foundation
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Job Number 180007ZJ
Job Category Rooms and Guest Services Operations
Location Marriott International HQ, Bethesda, Maryland VIEW ON MAP
Position Type Management
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The J. Willard and Alice S. Marriott Foundation
Director, Finance & Administration
The J. Willard and Alice S. Marriott Foundation is a private family foundation established in 1965 with the purpose of giving back to the community. The Marriott Foundation is dedicated to helping youth secure a promising future, especially through education on the secondary and higher education levels, mentoring and youth leadership programs. Equally important are organizations that help provide relief from hunger and disasters; support people with disabilities; and create gainful employment opportunities for vulnerable youth and adults. Foundation staffare a small team of hard-working, entrepreneurial individuals who balance large goals with the many day-to-day details needed to move the Foundation forward. Foundation staff are employed by Marriott International, Inc (MI) and their employment is governed by the standard employment and compensation policies and guidelines of Marriott International.
The Director, Finance & Administration (i.e., Director) reports to and works hand-in-hand with the Executive Director to execute key priorities across multiple functional areas of the Foundation. The Director will provide operational leadership, manage certain day-to-day finances and support the Executive Director in overall strategic vision and planning for the Foundation. The ideal candidate will serve as a strategic partner to the Executive Director, supporting the development and execution of annual and quarterly priorities, identifying organizational needs, and driving the team’s culture and implementation of both systems and people development initiatives. This position provides a unique opportunity for the Director to contribute a high level of specialized knowledge, practice flexibility in a “small-business” environment and develop and implement creative solutions to support the overall philanthropic goals of the Foundation.
- Provide effective leadership by developing a broad and deep knowledge of all finance, operations and programs in order to identify opportunities for the foundation.
- Maintain continuous lines of communication, keeping the Executive Director informed of all critical issues.
- Partner with the Executive Director to develop the Foundation’s strategic direction including clear annual and quarterly priorities, as well as operational policies and procedures to achieve stated goals.
- Manage project teams to the annual work-plan and collect data from teams to reflect progress-to-goal across functional/program areas to support the foundation’s successful achievement of its priorities.
- Support the Executive Director by providing support and oversight of the operational infrastructures of the multi-year, multi-million-dollar China Hospitality Education Initiative (CHEI) by working in coordination with the local Project Director to ensure successful execution and attainment of program expectations.
- Promote a culture of high performance and continuous improvement that values learning and a commitment to quality and service.
- Responsible for financial management of the Foundation, including bank reconciliations, analysis of cash flow, maintenance of the general ledger and financial reporting.
- Oversight and approval of grant payment schedules, control commitments and expenditures for the Foundation’s operations, and supervise the financial record keeping of the office.
- Monitor grant funding levels to ensure the Foundation maintains its 501(c)(3) status and avoids IRS imposed penalties. This includes calculation of annual minimum distribution requirements, blockage discounts and excess business holdings.
- Prepare financial reports for Foundation board meetings including analysis of cash flow, grant payment schedules, and summary of grants paid.
- Prepare quarterly reimbursement schedules, monthly preparation and review of expense reports, monthly updates to minimum distribution schedules and prepare and monitor operating and grants budgets. Work with grants manager to develop monthly/quarterly financial and compliance reports for Executive Director.
- Responsible for preparation of the Foundation’s annual report including financial statements, footnotes, grants summary and narratives.
- Responsible for updating and developing accounting policies and procedures and developing and maintaining strong internal controls.
- Coordinate research of tax issues with outside tax consultants and legal counsel.
- Manage financial review and develop and maintain schedules and documentation necessary for preparation of the Foundation’s annual return (Form 990-PF) and trust tax returns. Monitor due dates, calculate quarterly tax estimates, ensure payment of federal and state taxes and coordinate work with outside tax consultants.
- Effectively communicate and present critical financial matters at board of directors and investment committee meetings.
- Review financial statements, budgets and 990PF of select proposals submitted for consideration to the Foundation, as requested by the Executive Director, and communicate findings to program staff.
- Review grant agreements to ascertain accuracy, financial and reporting requirements, and consistency with terms of the approved proposal.
- Work with program and grants management staff to ensure that pre-requisite requirements for grant payments have been completed and that payments are made in a timely manner.
- Maintain accounting and oversight for several donor advised funds and serve as liaison with fund sponsors.
- Research legal, accounting and grantmaking issues preparing reports for the Executive Director or trustees as required.
Investment Accounting and Committee Support:
- Responsible for documentation and processes related to accounting for $900+ million endowment including evaluation of cash available for investments.
- Serve as liaison and oversight of outside investment advisors by keeping abreast of current trends that may affect the portfolio of the foundation and by reviewing monthly broker’s statements.
- Oversee the development of any RFP process for manager selection.
- Seek to expand knowledge of foundation and nonprofit opportunities such as impact investing, PRIs, mission related investing, etc.
- Provide staff support to the Investment Committee (creating agendas, documenting minutes, etc.).
- Support the Executive Director by planning and facilitating staff meetings, creating opportunities for team engagement, discussion and professional development.
- Support the Executive Director in responding to operational requests that have broader team impact and/or moderate risk. Present alternative solutions to issues by leveraging the broader organization.
- Support effective use of the foundation’s information technology and data management systems to support day-to-day operations, minimize risk and plan for future needs.
- Ensure maintenance of organizational records to meet IRS guidelines, including records retention policy.
- Evaluate and negotiate annual Directors and Officers insurance coverage.
- Perform special studies/projects as requested by the Executive Director.
Qualifications & Skills:
- Bachelor’s Degree and/or MBA with a concentration in Business, Finance, or Accounting or equivalent business experience.
- Minimum of 8 years of experience in accounting/financial reporting/business management (nonprofit/private foundation experience is not required but is highly valued).
- Previous family foundation experience preferred.
- Knowledge of best practices, and legal, accounting, and regulatory requirements for grant-making; understanding of IRS regulations regarding private foundations.
- Impeccable integrity and outstanding communications and interpersonal skills with attention to detail.
- Ability to thrive in a fast-paced, small team environment and in a hands-on position. Including the ability to be flexible in project management and execution.
- Strong working knowledge of investments ranging from marketable to alternatives, to private equity/venture capital, to hedge funds.
- Experienced with all aspects of maintaining a general ledger and related books and records.
- Proficient in Excel and related Microsoft programs, QuickBooks a big plus.
- Strong analytic and reconciliation skills, self-starter, detail worker, and intellectually curious.
- Ability to work well under pressure and adapt to continually changing workload priorities.