Controller

About Salem Academy and College

Salem Academy and College is the oldest continuously operating educational institution for girls and women in the country.  Since 1772, the institution has engaged in transformational change to innovate women’s education. Founded with the mission of making education accessible to all, Salem has a rich 254-year-old history and a long-standing track record of educating students who are prepared to make a bold impact locally, nationally and globally through liberal arts education. Our graduates are committed to making the world a better, healthier and more equitable place. Salem College is the nation’s only liberal arts college exclusively dedicated to developing the next generation of health leaders.

Position Summary 

The Controller is a senior financial leader responsible for directing the accounting and financial reporting functions of the Academy and College while supporting the strategic financial direction of the institution. Reporting to the Vice President for Finance/Chief Financial Officer, the Controller ensures the integrity of the institution's financial records, maintains strong internal controls, and provides accurate and timely financial information to support institutional decision-making.

This position provides leadership for the daily operations of the Controller’s Office and oversees accounting, financial reporting, treasury management, audits, tax compliance, grants accounting, and financial systems. The Controller partners with campus leaders to develop financial strategies that support the Academy and College's mission while ensuring compliance with Generally Accepted Accounting Principles (GAAP), federal and state regulations, donor restrictions, and institutional policies.

Essential Duties and Responsibilities 

The Controller will:

• Provide leadership and oversight for all accounting functions of the institution, including: 
  • General ledger 
  • Accounts payable 
  • Accounts receivable 
  • Cash receipts 
  • Payroll accounting 
  • Fixed asset accounting 
  • Capital asset accounting 
  • Month-end and year-end close processes 
• Ensure the accuracy, completeness, and integrity of the institution's financial records while maintaining strong internal controls to safeguard institutional assets. 
• Prepare and oversee: 
  • Monthly, quarterly, and annual financial statements 
  • Financial reports for senior leadership and the Board of Trustees 
  • Budget-to-actual analyses 
  • Cash flow reports 
  • Financial forecasts and other management reports 
• Coordinate the annual external financial audit, Single Audit and preparation of financial statements while responding to auditor requests and implementing recommendations. 
• Assist the Vice President for Finance/CFO with: 
  • Annual operating budget development 
  • Capital budget preparation 
  • Multi-year financial forecasting 
  • Long-range financial planning 
  • Financial modeling and institutional decision support 
• Oversee treasury management activities, including: 
  • Cash management 
  • Banking relationships 
  • Investment accounting 
  • Debt accounting 
  • Cash flow forecasting 
• Ensure compliance with: 
  • Generally Accepted Accounting Principles (GAAP) 
  • Federal and state regulations 
  • IRS reporting requirements 
  • Donor restrictions 
  • Grant requirements 
  • Debt covenant reporting 
• Direct accounting and financial reporting for grants, endowments, restricted funds, and capital projects while ensuring compliance with funding requirements. 
• Develop, implement, and continuously improve financial policies, procedures, and internal controls that promote efficiency, accountability, and sound financial stewardship. 
• Provide leadership in the implementation, maintenance, and optimization of financial systems, accounting software, reporting tools, and ERP financial modules. 
• Supervise, coach, and develop accounting staff by providing leadership, performance management, mentoring, and professional development. 
• Partner with Human Resources regarding payroll accounting, employee benefits accounting, retirement reporting, and other employee-related financial matters. 
• Collaborate with budget managers and departmental leaders by providing financial guidance, budget monitoring, and analysis to support sound fiscal management. 
• Prepare financial analyses, presentations, and reports for executive leadership, Cabinet, Board committees, accreditation activities, and strategic initiatives. 
• Monitor changes in accounting standards, regulations, and higher education financial practices and recommend improvements to ensure ongoing compliance and operational effectiveness. 
• Serve on institutional committees and represent the Controller’s Office on cross-functional initiatives and strategic planning efforts. 
• Perform other duties as assigned by the Vice President for Finance /Chief Financial Officer. 

Required Qualifications

• Bachelor’s degree in accounting, Finance, or a closely related field. 
• Minimum  of eight years of progressively responsible accounting or financial management experience. 
• Minimum of five years of supervisory experience. 
• Comprehensive knowledge of: 
  • Generally Accepted Accounting Principles (GAAP) 
  • Financial reporting 
  • Budget development 
  • Internal controls 
  • Auditing 
  • Nonprofit accounting 
• Demonstrated ability to analyze complex financial information and communicate financial concepts to both financial and non-financial audiences. 
• Strong leadership, organizational, analytical, and project management skills. 
• Excellent written, verbal, and interpersonal communication skills. 
• High level of integrity, professionalism, discretion, and commitment to confidentiality. 

Knowledge, Skills, and Abilities

• Thorough knowledge of nonprofit and higher education accounting principles and financial reporting requirements. 
• Strong understanding of budgeting, treasury management, financial analysis, and internal controls. 
• Ability to interpret complex financial information and make sound recommendations. 
• Ability to build collaborative relationships across the institution while providing exceptional customer service. 
• Ability to lead organizational changes, improve financial processes, and manage multiple priorities in a fast-paced environment. 
• Advanced proficiency with Microsoft Excel and financial information systems. 
• Ability to exercise independent judgment while maintaining the highest standards of ethics, confidentiality, and stewardship of institutional resources. 

Preferred Qualifications

• Certified Public Accountant (CPA) designation preferred. 
• Master’s degree in a related field preferred.

Physical Functions 

While performing the responsibilities of the Controller  the employee is required to sit for varying lengths of time; bend, reach, lift, push, and pull up to 25 pounds; occasionally stand, walk, and kneel and regularly ascend/descend stairs; use hands and fingers to handle or feel and manipulate keys on a keyboard; perform extended periods of work at a computer workstation, view a computer monitor; perceive sounds at normal speaking levels with or without correction, and receive detailed information through oral communication; express and exchange ideas by means of spoken word; and work in an office setting.

Salem Academy and College is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, national origin, age, religion, disability status, sex, sexual orientation, gender identity, veteran status, pregnancy, or any other characteristic protected by law.

For questions, please contact Darrell Farewell, Chief Financial Officer and Vice President for Finance at darrell.farewell@salem.edu