Title: Deputy Executive Director of Finance & Administration
Hiring Range: $168,000 - $227,000
Agency: Virginia Lottery
Location: Richmond, VA
Agency Website: www.valottery.com
Recruitment Type: General Public - G
For more than three decades, the Virginia Lottery has worked to build a strong reputation, one synonymous with providing fun, entertaining experiences and doing so responsibly and with integrity. Proceeds from traditional Lottery games support K – 12 public education in Virginia. Taxes generated by sports wagering and casino gaming, which are regulated by the Lottery, benefit other priorities of the Commonwealth.
The Virginia Lottery is currently seeking a Deputy Executive Director of Finance and Administration to join its executive leadership team.
The Deputy Executive Director of Finance and Administration will direct the financial management and general administration activities in support of the Lottery’s mission, including management and oversight of functions related to retailer accounting and accounts receivable, investments and cash management, prize payments, financial reporting and corporate accountability/control, general accounting (accounts payable and payroll), asset control and management, retailer licensing and accessibility, economic analysist and research, regulatory tax and licensing fee receipts and distribution, cost allocation, purchasing, and forecasting and budget. The Deputy Executive Director of Finance and Administration will be a part of the senior management team providing guidance to senior managers and employees, and analyses and advice and recommendations to the executive leadership team, Executive Director and the Lottery Board on all major operational, financial, and strategic issues.

MINIMUM QUALIFICATIONS

• Bachelor’s Degree from an accredited 4-year college or university with major studies in Business Management, Public Administration, Accounting, or Finance.
• A minimum of five years extensive experience in progressively responsible financial operations in management.
• Considerable knowledge of the principles and practices of budget formulation, evaluation, execution, and principles of public administration.
• Strong analytical ability and leadership skills. Experience in an operations / high transaction volume environment.
• Experience with complex, highly automated business and accounting systems.
• Ability to clearly communicate results and issues and develop sound, strategic recommendations, and to interpret and apply complex regulations, statutes, and procedures & guidelines.
• Ability to effectively work as part of a senior management team and provide direction to a major operational unit.
• Excellent people skills, integrity, and creativity.
• Working knowledge of FASB, GASB, and GAAP. Knowledge and understanding of complex mathematical modeling techniques, statistical and probability theory, and financial theory.

Oversees all financial operations of the Lottery:

• Includes prize validation and payouts, games accounting, general accounting, accounts receivable, investments, payroll, and financial reporting.
• Ensures accounts receivable (retailer billing), investment management (including bond purchases), and cash management functions are performed accurately, and in a timely manner.
• Ensures accurate financial reporting, in compliance with state and federal regulations.
• Oversight of over $6 billion in revenues and over five billion annual transactions annually.
• Serves on Finance Committees for Mega Millions and other multi-state lottery associations.
• Ensures accurate and controlled accounting and reporting of multiple statutory fund activities, including effective cost allocation methodologies to maintain compliance with statutory and constitutional requirements.

Directs revenue forecasting, and budgeting process:

• Ensures state budget office and General Assembly money committee’s staff are informed on Lottery/ Gaming issues, in a timely and effective manner.
• Ensures best possible turnover and tax estimates are submitted to the state.
• Makes certain that Lottery payments to vendors and employee payroll are paid appropriately, on time, and in compliance with state requirements, in accordance with the current appropriation act.
• Ensures accurate accounting and timely reporting of financial data for informed business decisions. Evaluate high volume transactional data, cut and assimilate for relevance, determine and effectively apply educated assumptions, and draw effective conclusions with a low degree of variance. Accurate and valid estimates are critical for the operations of both the organization and the operations of state government in terms of funding and program execution.

Directs general administrative functions of the Lottery:

• Includes procurement, budget, retailer licensing, and regional claims office management.
• Ensures significant and complex contract agreements are effectively constructed, managed, and executed fully and fairly.
• Participate on key contract procurement teams.
• Conduct licensing hearings as needed.

Participates on the executive management team to ensure timely and effective communication between divisions and with external entities:

• Provides appropriate and sound counsel to the Executive Director.
• Develops sound, achievable, yet ambitions business plan and advancement of the Lottery’s goals.
• Ensures effective relationships and communications with auditors, state oversight entities, peer lotteries, elected officials, appointed officials, contract vendors, etc.
• Participate effectively with peers to recommend effective strategies and priorities for the overall achievement of the organization’s mission.