Associate Director of Finance, Budgets
Brooklyn Academy of Music (BAM)
Brooklyn, NY 11217
Brooklyn Academy of Music (BAM) is a multi-disciplinary arts center located in Brooklyn, New York. For more than 150 years, BAM has been the home for adventurous artists, audiences, and ideas—engaging both global and local communities. With world-renowned programming in theater, dance, music, opera, film, and much more, BAM showcases the work of emerging artists and innovative modern masters.
BAM is looking for an insightful and data-driven Associate Director of Finance, Budgets to join our team and help the organization raise the bar for financial budgeting and reporting. Reporting to the Director of Finance, this position is responsible for effective and efficient budget management for BAM, including financial budgeting, monitoring, analysis and its operational functions. The responsible areas include but are not limited to: BAM’s annual operating budget, capital project budget, and cash flow budget.
Essential Duties and Responsibilities of the Associate Director of Finance :
Develop and maintain BAM’s annual operating, cash flow and capital project budgets.
- Review, monitor, and analyze BAM’s budgetary standings to identify risks and to help BAM management to prioritize efforts and make strategic decisions.
- Identify, develop and execute budgeting procedures and systems in support of BAM’s activities and initiatives, while maintaining and improving operational efficiencies and effectiveness for best practice.
- Assemble expense and revenue budgets from various departments across the institution and develop an annual operating budget while meeting deadlines. This process includes a series of meetings with departmental heads, CFO, and President, as well as preparation of meeting materials for BAM’s Finance Committee.
- Review annual operating budget vs. actual information. Perform regular monitoring and analysis of revenue, expense, and balance-sheet account items in order to identify any possible issues. This process includes evaluation of current spending, budget-actual variances and spending trends with department heads as well as review of the Trial Balance for assigned accounts. Report potential risks and concerns to the Controller, Director of Finance, Planning & Analysis and CFO.
- Effectively bridge communications regarding budget issues among internal departments and constituents at all staff levels. Respond to requests and inquiries from budget owners and administrators across the institution.
- Oversee Finance’s work to monitor and closeout all program budgets in a timely manner. The responsible areas include stage productions, film series, education & humanities programs, galas & special events, rentals and ancillary programs. Work with various budget owners/administrators and report potential risks to the Controller, Director of Finance, Planning & Analysis and CFO.
- Supervise Finance’s OTPS budget work for a full budgeting cycle. This includes monthly distribution of departmental expenditure reports, review and monitoring of spending, and budget closeouts at year end. Review and close journal entries for reclassifying expenditures and modify budgets as needed.
- Oversee management of capital budgets to ensure an accurate tracking of capital project expenditures, timely submissions of requisition requests, effective reporting, and closing of a fiscal year.
- Assemble financial reports and prepare materials for quarterly BAM Board, Finance Committee, and Executive Committee meetings. These materials include a financial narrative, current budget updates, and cash flow projections.
- Develop and provide various budget reports to Development Division for grant/sponsorship applications and reporting needs while meeting often tight deadlines.
- Create and deliver ad-hoc budget reports manually and/or with Multiview financial software.
- Oversee weekly uploads of payroll data into Multiview financial software and quarterly reconciliation of the General Ledger to payroll reports and IRS Form 941.
- Review Purchase Orders to ensure expenses are budgeted, to catch any potential mistakes and to ensure the organization is properly coding expenses.
- Establish a coding system for units and projects. Oversee Finance’s work of setting up project codes. Maintain a control in the system to ensure the integrity of budgetary data.
- In preparation for a fiscal year end closing and an annual audit, perform expense allocations, generate a Statement of Functional Expenses and prepare explanations for year-to-year expense & revenue variances. Also supervise preparation of PBC schedules for selected balance sheet, income and expense accounts.
- Identify, develop and implement business solutions to improve operational efficiencies and effectiveness of BAM’s budgeting practices. Often serve as a project owner, lead and oversee projects within and beyond the budget team in Finance. Collaborate with stakeholders across multiple departments to execute effective improvements.
- Ensure the efficient transition during major and annual upgrades of Multiview and its budget module
- Develop and oversee training sessions for budget owners, administrators and Multiview end users
- Supervise a staff of 1-2, including hiring, training, coaching, performance evaluation, and on-going professional development support. Redesign jobs and re-allocate resources as needed.
- Deliver high-quality team product in the team’s day-to-day work. Team building and problem solving in a fast-paced environment.
- Manage resources and set priorities for the budget team, including short and medium-term strategic planning.
Required Education, Knowledge, Skills and Abilities
- Bachelor’s or Master’s degree in Business Administration, Finance, Accounting, Performing Arts Administration or other similar areas
- Minimum 5-year experience with a strong record of achievement in past positions and demonstrated track record of growth
- Prior experience with budgeting and accounting practices
- Prior experience in working in a fast-paced environment while successfully managing complex business practices and meeting tight deadlines
- Strong knowledge of Multiview financial software or similar databases
- Experience with Microsoft Suites; strong knowledge of Excel
- CPA/MBA preferred
- Must have the ability to work remotely as needed.
Pay: Salary commensurate with experience. This position is full-time exempt and BAM offers a full benefits package including medical, dental and vision care, employer-paid life insurance and pension.
Application Instructions: Must complete an online application through BAM’s website—no phone calls, emails or walk ins, please.
HOW TO APPLY