A cover letter is required for consideration for this position and should be attached as the first page of your resume. The cover letter should address your specific interest in the position and outline skills and experience that directly relate to this position.
The University of Michigan is one of the world’s most powerful engines for scholarly research, service, and impact. Sustaining and supporting the University’s robust research enterprise is vital for maximizing innovation and economic growth. As a service and resource for researchers interested in the commercialization of technologies and research discoveries, the Office of Technology Transfer (OTT) plays a central role in helping to ensure that society realizes the benefits of the research conducted at the University of Michigan.
The Royalty Distribution Specialist plays an important role in managing the financial aspects of the licensing agreements related to the aforementioned research. In this role, you will be responsible for the timely recovery of technology expenses and the distribution of revenues to co-owners, U-M colleges and departments, as well as inventors. The ideal candidate for this position loves to crunch numbers, pays acute attention to detail, and has a strong knowledge of general accounting principles. You will use all these qualities to analyze reports and to ensure that U-M is processing royalty revenue in accordance with our Tech Transfer Policy.
Review license agreement terms and create revenue distribution plans:
Review relevant licensing agreement terms between the University and licensees in order to determine how licensing revenue should be applied to expenses and distributed to university researchers as well as outside partners.
Prepare a summary distribution letter that is sent to each inventor, school, department, and/or co-owners.
Work with licensing professionals to determine which inventions are royalty distribution eligible and to identify any non-UM co-owners that are eligible for royalty sharing.
Recover any expenses eligible for reimbursement from royalty income.
Answer inquiries related to royalty distributions from inventors, colleges, departments, and co-owners.
Process Royalty Distributions:
Run system generated reports to identify license and option agreements with positive royalty revenue balances. Review balances to determine if revenue is eligible for distribution. Review and respond to incoming requests from inventors. Prioritize monthly worklist on agreements with licensing revenue that is eligible to be distributed.
Work with the patent administrator to verify inventorship on patents associated with royalty eligible license agreements.
Process the distribution using Sophia (OTT’s relational database). Determine appropriate distribution policy to use based on the agreement terms. Process any recovery-eligible expenses related to the distribution, then distribute remaining revenue to co-owners, inventors, and university stakeholders.
Work with the Shared Service Center to process payments to inventors and co-owners. Prepare/process journal entries to distribute revenue to college, school and/or department using MPathways.
Reporting & Data Management:
Maintain metrics around distributions to assist in reporting.
Run queries using Mpathways, Business Object and Sophia for expenses related to technology, including all legal and nonlegal fees (i.e., USPTO filing fees, legal fees for patent prosecution, consultant fees for marketing research, etc). Run reports in Sophia to ensure expenses are accurate and correctly related to the relevant technology and patents.
Legacy data cleanup and/or other special projects as requested.
Bachelor’s degree or an equivalent combination of education and experience, 4-8 years of accounting or financial work experience.
Understanding of financial and accounting transactions.
Excellent organizational, communication and customer service skills.
Strong analytical, problem-solving, judgment, and decision-making skills.
Demonstrated ability to prioritize, complete tasks in a timely manner and work under pressure of multiple deadlines.
Considerable administrative experience in organizing and processing complex information.
Meticulous attention to detail and accuracy.
Ability to work independently at times.
Candidate must have high regard for customer satisfaction (external and internal).
Previous experience reviewing contracts, with the ability to understand and clearly communicate financial obligations.
Understanding of royalty and finance related concepts (i.e. returns, net sales, accruals, journal entries).
Understanding of an academic/administrative setting for higher education is strongly preferred.
Experience in a university technology transfer office.
Experience with Wellspring Sophia or other relational databases.
Experience with M-Pathways and University financial policies and procedures.
Bachelor’s degree in accounting or finance.
This position will be filled at the Intermediate salary range of $50,000 - $60,000 as the primary goal. The requirements listed above reflect the Intermediate level expectation. This position may be underfilled at a lower classification depending on the qualifications of the selected candidate. Applicants with lesser experience are encouraged to apply and may be considered if the primary goal is not met. Lesser-experienced candidates will be reviewed at an Associate level salary range of $45,000 - $50,000.
Job openings are posted for a minimum of seven calendar days. The review and selection process may begin as early as the eighth day after posting. This opening may be removed from posting boards and filled anytime after the minimum posting period has ended.
The University of Michigan is an equal opportunity/affirmative action employer.
Internal Number: 183834
About University of Michigan - Ann Arbor
A great university is made so by its faculty and staff, and Michigan is recognized as one of the best universities to work for in the country. The Michigan culture is known for engaging faculty and staff in all facets of the university to create a workplace that is vibrant and stimulating.For two consecutive years, the Chronicle of Higher Education has placed U-M in its "Great Colleges to Work For" survey. In particular, the university earns high marks for strong relations between faculty and administrators, a collaborative system of governance, strong pay and benefits, and a healthy work/life balance.