Finance & Operations Coordinator

Full-time Remote $66,000 - $79,200 Entry Level Bachelor Degree

About MIT Solve

Solve is an initiative of MIT. We believe that to achieve a more sustainable and equitable future for all, we need new voices and ideas. We launch open calls for exceptional and diverse solutions to the most pressing global challenges, from anyone, anywhere in the world. Selected innovators get the backing of MIT and our community of supporters to scale their impact and drive lasting change.

Position Overview

The Finance & Operations Coordinator supports Solve’s Operations and Impact Team in furthering Solve’s mission. The Coordinator plays a critical role in Solve’s financial management, handling accounts receivable and accounts payable functions, maintaining accurate financial tracking for the organization, and working closely with the Operations & Impact Senior Officer to coordinate cross-team processes such as budgeting and forecasting. The Coordinator will also support several key administrative functions, such as new staff onboarding. The ideal candidate is comfortable working with and interpreting financial data, possesses excellent attention to detail, is proactive about learning new skills and tools, is extremely organized, and maintains a strong collaboration mindset.

Responsibilities

Finance Operations

  • Assist the Operations & Impact Senior Officer to develop and prepare Solve’s budget, coordinating with other Solve staff as needed.

  • Track and monitor expenses and revenue against the approved budget for Solve, as well as for individual grant-funded projects. Identify and resolve account discrepancies for all Solve accounts and grants.

  • Reconcile accounts at year-end, including preparing accruals and deferrals.

  • Handle accounts payable functions, including:

    • Paying invoices, subscription fees, prizes, etc. in a timely manner;

    • Setting up and managing vendors, and creating and managing purchase orders;

    • Collaborating with MIT counterparts to ensure smooth payment processes;

    • Reviewing and processing reimbursements; and

    • Authorizing expenditures within established limits.

  • Manage the accounts receivable process, including:

    • Creating invoices;

    • Following up with clients to ensure payment is made on time;

    • Collaborating with MIT Central Accounting to receive funds; and

    • Tracking outstanding and received payments in Salesforce.

  • Create, maintain, and continuously improve Solve’s financial tracking systems and processes to ensure transparency, accuracy, and operational efficiency.

Financial Analysis & Reporting

  • Prepare monthly, quarterly, and yearly financial reports, including expenditure summaries and trends, quarterly reforecasts and year-end projections, and year-over-year comparisons for Solve leadership.

  • Assist with grant reporting, including creating relevant financial reports and compiling other financial documentation for funders.

  • Support the Operations & Impact Senior Officer in analyzing revenue performance and assessing its implications for strategic and operational decisions.

Financial Compliance

  • Stay abreast of MIT’s regulatory requirements and best practices in financial administration.

  • Maintain and suggest ways to strengthen internal financial controls in order to manage risks and maintain data integrity.

  • Maintain clean financial records for compliance, recordkeeping, and archiving.

Administration

  • Provide calendar management and reimbursement submission support to Solve’s Executive Director.

  • Assist with employee onboarding and offboarding.

  • Assist with planning and logistics for all staff and leadership meetings.

  • Participate in special projects as needed.

Qualifications and Skills

  • Minimum 2 years’ professional experience in accounting, finance, or finance administration

  • Bachelor’s degree required, ideally in a data, finance, or similarly analytical field

  • Highly proficient in Microsoft Excel/Google Sheets

  • Proficient in Salesforce or another CRM platform

  • Proficient in SAP or another ERP system

  • Experience working with/analyzing financial data

  • Ability to work effectively and stay accountable to deadlines

  • Organized, thorough, detail-oriented, and focused on accuracy and quality

  • Curious, able to learn quickly, and able to rapidly upskill on new tech tools/systems

  • Motivated to improve existing systems and processes

  • Excellent communication skills

  • Acts with personal and professional integrity

Supervision Received: Senior Officer, Operations & Impact

Benefits

The pay range for this position is $66,000 - $79,200, with a final offer based on experience and equity considerations. This is a full-time position. Solve team members are expected to spend four weeks a year in Solve’s Cambridge offices, plus a week during the first month for onboarding.

As an MIT Solve employee, you are eligible for a number of benefits, perks, and discounts, including:

MIT Solve is committed to inclusion and diversity to build a team that represents a variety of backgrounds, perspectives, and skills. The more diverse our team is, the better we can achieve our mission of solving world challenges. Meet our team. 

 

MIT is an equal employment opportunity employer. All qualified applicants will receive consideration for employment and will not be discriminated against on the basis of race, color, sex, sexual orientation, gender identity, religion, disability, age, genetic information, veteran status, ancestry, or national or ethnic origin.

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