Director of Finance

Employer
The Transit Employees’ Health & Welfare Plan
Location
Forestville, Maryland (US)
Salary
To be determined based on experience
Posted
Apr 30, 2021
Closes
May 30, 2021
Contract Type
Permanent
Hours
Full Time

The Transit Employees’ Health & Welfare Plan (“Plan”), located in Forestville, MD, is currently seeking a Director of Finance, reporting directly to the Executive Director. The Transit Employees’ Health & Welfare Plan provides healthcare benefits to employees of Washington Metropolitan Area Transit Authority (“WMATA”) who are members of Amalgamated Transit Union Local 689 (“Local 689” or “union”), and to their eligible family members. The Plan offers participants a comprehensive package of benefits that includes medical, prescription drug, dental, vision, life and accident and long-term and short-term disability insurance.

The Plan is governed by a Board of Trustees comprised of equal numbers of Trustees appointed by WMATA and Local 689. Participants in the Plan include WMATA employees represented by Local 689 – bus operators, train operators, maintenance and construction workers, custodial workers, and clerical staff. The Plan offers three medical plan options – a PPO and two HMOs – to its membership of 8,400 participants, 3,600 retirees and their families. For more information about the Plan please visit http://www.tehw.org.

This is a highly responsible financial management position involving professional work of a complex nature. The Director of Finance will develop, coordinate and implement financial policies and procedures and have extensive latitude for independent judgment and action. The Director of Finance will plan, direct, coordinate and evaluate the development of financial information for the Plan’s Executive Director and the Board of Trustees. The Director of Finance will lead and manage professional and administrative staff in all areas of financial management of the Plan including all aspects of planning, reporting, organizing, managing, coordinating and directing personnel and activities such as budget development and execution, financial reporting (including tax reporting), management and analysis, payroll, and audit. The Director of Finance will be responsible for working with the Plan’s consultants and vendors to ensure competitive benefits administration.

Responsibilities

Responsibilities include but may not be limited to: 

  • Operations: Oversees and monitors the day-to-day accounting operations of the Plan and Plan Office and ensures financial accuracy and compliance; provides leadership, direction and support for one (1) accounting staff member; develops (in conjunction with the Executive Director), monitors and manages annual operating budget for administration of Plan; maintains all financial records; implements effective accounting strategies, policies, procedures, and financial controls; monitors, coordinates and assists custodian bank, financial institutions and financial advisors; monitors vendors’ compliance with contract terms; works with the Executive Director to monitor benefit industry trends and identify new developments that the Plan’s Trustees should consider regarding benefit levels and premium costs; serves as a liaison between the Plan and WMATA regarding financial and business issues related to the operation of the Plan.
  • Financial: Oversees maintenance of general ledger and other financial records of the Plan and preparation of cash flow reports and monthly financial statements; coordinates and/or completes all transfers and other cash management duties; oversees review of all reconciliation reports and accounts; oversees payroll; coordinates annual audit and works closely with the Plan’s auditors in the preparation of year-end schedules, financial statements, and annual compliance reporting; works with consultants and vendors in the development of annual employee/employer health and welfare rates based on current contract provisions.
  • Compliance: Ensures that standard accounting principles are followed in keeping the Plan’s financial records; coordinates and/or prepares all tax reporting requirements and submission of all tax and government filings; coordinates information required by or from outside professional advisors or governmental agencies; maintains understanding of GAAP, GASB, IRC, HIPAA and other requirements, and other areas of fiduciary responsibility.
  • Technology: Coordinates the maintenance and update of accounting software and technology as needed; assists in the evaluation, acquisition and implementation of accounting technologies/tools as needed.

Requirements

The ideal candidate will meet the following requirements:

  • Work Experience: Minimum of ten (10) years of relevant accounting experience required; minimum of seven (7) years of senior-level management experience required. Experience with employee benefits and healthcare trust administration strongly preferred. Collective bargaining experience or prior involvement with unions a plus.
  • Educational Background: Bachelor’s degree in accounting or finance required; advanced degree or CPA certification preferred.
  • Special Skills or Credentials: Thorough knowledge of financial and accounting practices and procedures, including governmental regulations and reporting requirements; extensive knowledge of recent legislation including PPACA, HIPAA and GASB OPEB reporting requirements; experience using QuickBooks or similar accounting software required. The ideal candidate will also have demonstrated strong leadership and judgment skills, exceptional interpersonal and communication (written and oral) skills, including the ability to interact with Trustees, union, WMATA, outside professionals and service providers, be detail oriented, highly organized, have business acumen and strong analytical skills, including the ability to interpret operational, auditing and financial information and legislative regulations; ability to act with a high degree of autonomy. This position requires the Director of Finance to be in the office located in Forestville, MD; it is not a remote position.

To Apply

The Transit Employees’ Health & Welfare Plan offers a competitive salary and a comprehensive benefits package including healthcare, defined benefit pension plan, 457 deferred compensation plan and paid vacation, holiday and sick leave. The Transit Employees’ Health & Welfare Plan is an affirmative action employer and encourages applications from all qualified candidates regardless of gender, race, ethnicity, age, sexual orientation, marital status, religion, or disability.

 

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