The Executive Director of Endowment and Restricted Funds is responsible for all custodial, record keeping, investment management, stewardship, reporting and management of Board-designated, endowment, and other restricted funds.
Prepare and/or review Board resolutions to authorize establishment of restricted funds and other special accounts within the University.
Establish and maintain the authentic central file of documentation related to each fund including wills, probate documents, gift agreements, gift receipt, donor correspondence, etc.
Coordinate with Development the receipt of donor funds. Coordinate the movement of funds to the “Pool” or to an external trustee.
Establish discreet restricted funds as appropriate and carry out obligations associated with each, including but not limited to a) Record receipt, investment, appropriation, and usage associated with restricted funds; b) Create and promote the use of management reports on the activity surrounding restricted funds; and c) Ensure optimal usage of funds in compliance with restrictions, including advocating donor’s intent in usage of funds.
Advise President, Provost, CFO, and Deans on use of discretionary funds.
Educate fund directors on obligations and responsibilities of stewardship and usage of endowments and other restricted funds.
Identify idle funds and advise fund manager of recommended use in compliance with donor’s intent.
Identify idle funds which are candidates for re-designation or candidate for petition to the State of Ohio Attorney General for release of restriction.
Regularly review all funds for required disclosures and necessary updates.
Evaluate investment performance of specific purpose funds to ensure fund returns meet donor’s intent.
Keep current and compliant of best business practices in as changes in relevant regulations, laws, and accounting pronouncements occur.
Participate in timely, accurate closing of funds as part of trial balance closes.
Prepare information related to special projects such as annual donor communication.
Prepare annual report for Board and President on restricted funds.
Manage external relationships with custodial trusts.
Manage external relationships with donor’s professional advisors.
Coordinate with external foundations, corporations, agencies etc. surrounding attainment and subsequent receipt of payment and expenditures.
Prepare required reporting as needed.
Participate in strategic planning of CWRU.
Support long range plans of each management center.
Support long range plans for funded scholarship and student aid.
Perform other duties as assigned.
Department: CFO, Controller, Treasurer, Chief Investment Officer, Vice President-Financial Planning,
University: Board Committees, President, Provost, Deans, Business Officers, General Counsel Office, SVP-Development, SVP-Administration, and VP-Communication
External: Donors, Custodial Banks, Attorneys, Accountants, Foundations, Agencies, Corporations, etc.
Students: Little or no contact with students.
Directly supervising 2 FTE’s. Indirectly supervising fund managers of over 3,000 restricted funds.
Experience: 10 to 15 years progressive experience in restricted funds management, investment and compliance.
Education/Certification: Bachelor’s degree required, preferably in business.; advanced degree in business or law strongly preferred.
Thorough understanding of all estate planning (wills, trusts) and
gift agreements terms and their ramifications (business law).
Experience in investment and treasury management, such as portfolio management, asset allocation and liability matched returns.
Document management related to restricted funds.
Board governance activities supporting restricted funds.
UPMIFA and other legal obligations related to restricted funds. Accounting classifications, transactions, and reporting requirements for restricted funds. Long range financial forecasting.
Expertise in accounting, treasury, investment, forecasting, legislative/legal, document imaging/ management system, ERP (PeopleSoft preferred)
General office environment.
In employment, as in education, Case Western Reserve University is committed to Equal Opportunity and Diversity. Women, veterans, members of underrepresented minority groups, and individuals with disabilities are encouraged to apply.
Case Western Reserve University provides reasonable accommodations to applicants with disabilities. Applicants requiring a reasonable accommodation for any part of the application and hiring process should contact the Office of Inclusion, Diversity and Equal Opportunity at 216-368-8877 to request a reasonable accommodation. Determinations as to granting reasonable accommodations for any applicant will be made on a case-by-case basis.
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