PAN Fund Executive – Position Description
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Job Title:
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Fund Executive
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Contract Provider:
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Supervisory:
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As needed – admin support
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Work Status:
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Min – 30 hours per week
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Reports To:
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PAN Two - Managing Chair, PAN Two Exec Committee, or his/her designee
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Payroll Type:
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Contract
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Approved by:
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PAN Two Exec. Committee
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Revised Date:
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July 24 2006
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Overview/Executive Summary:
The Piedmont Angel Network Two (“PAN Two”) actively seeks
deal flow to provide investment opportunities for the fund and its
members. Primary responsibilities of the
Fund Executive position involve the generation, facilitation and management of
deal flow through the Fund, including attracting good investment opportunities
to present to the fund, working with PAN Two members to review the investment opportunity,
and if appropriate conduct due diligence with respect to the opportunity. The Fund Executive should have excellent
networking and interactive skills and will be required to work with other angel
investors and groups, and fund members to generate deal flow; and also with
entrepreneurs and entrepreneurial companies (investment opportunities) to
assist them through the PAN Two process.
In addition, the Fund Executive will assist the PAN Two Executive
Committee in the day to day operating of the Piedmont Angel Network (PAN) Two
fund and provide client service to PAN Two and its members.
The position includes services
to PAN Two members, prospects, and portfolio companies; organizing monthly
investment activities; assisting members in maintaining a PAN Two presence in
the community; maintaining financial records; maintaining a member database;
maintaining the PAN Two website; securing information; assisting in the
development, implementation and maintenance of systems and processes; and the
performance of other fund related duties and functions as outlined below. Pan Two is expected to hold monthly Screening
Committee meetings; monthly Member Meetings; and twice monthly Executive
Committee meetings through 2009.
A
detailed breakdown of expected job responsibilities is set forth in Appendix A.
Supervisory Responsibilities
Work Schedule
It is expected that the
Fund Executive will work a minimum of 30 hours per week, on average, over the
course of a month.
Work Location
Travel
Travel will be determined by Fund Executive on an
as needed basis. Reimbursable travel
will be determined by the PAN Two Executive Committee upon consultation with
Fund Executive.
Qualifications
To handle this position successfully, an individual
must be able to perform each essential duty satisfactorily. The requirements listed below are
representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to
enable individuals with disabilities to perform the essential functions.
Education/Experience/Certification
1.
Bachelors Degree.
2.
Previous experience in private equity
transactions, banking, public accounting or corporate controllership/general
management.
Skills/Competencies
1.
Strong skills in motivating and gaining support
from diverse volunteers, including investor members.
2.
Strong skills in responding to and servicing entrepreneurs
making inquiries or seeking and receiving funding.
3.
Excellent meeting planning and event coordination
skills. Independently oversees meeting
logistics.
4.
Ability to work as part of a team, including as
team leader and/or as team member for another leader.
5.
PC proficiency and strong skills in MS Word, Excel,
PowerPoint. Quicken, and ACT.
6.
Able to manage time effectively and prioritize
competing tasks to meet deadlines in conjunction with oversight by PAN Two
Chair.
7.
Excellent organizational skills. Keeps files and work area organized. Maintains historical reference and records
data.
8.
Effectively maintains appointment schedules. Plans and schedules meeting, conferences and
travel.
9.
Presents a professional, positive image that
reflects well on the organization.
10.
Can be trusted to handle extremely confidential and
sensitive information.
11.
Experience writing professional memos, preparing
correspondence and taking notes.
12.
Makes effective use of database, spreadsheet and
word processing software to prepare statistical and written reports for
management.
Interactions and/or Access
This job requires successful interaction with
members, entrepreneurs and their representatives, other member managed funds,
venture capital funds, entrepreneur groups, SBTDC, university representatives,
coworkers, vendors and upper management and access to confidential files,
meeting minutes, and security codes.
Work Environment
Work Environment will be determined by Fund
Executive related to office space location.
Physical Demands
The physical demands described here are
representative of those that must be met by an employee to successfully perform
the essential functions of this job.
Reasonable accommodations may be made to enable individuals with
disabilities to perform the essential functions.
While performing the duties of this job, the
employee is regularly required to talk or hear.
The employee frequently is required to sit; use hands to finger, handle
or feel; and reach with hands and arms.
The employee is occasionally required to stand and walk. The employee must occasionally lift and/or
move up to 10 pounds.
Specific vision abilities required by this job
include close and distance vision and the ability to adjust focus.
Contractual Agreement
PAN Two will contract with Fund Executive as an
independent contractor to perform the duties set forth above and as described
in Appendix A. The contract price is
negotiable, depending on the experience and qualifications of the Fund
Executive candidate, but is expected to range from $80,000 to $100,000, on an
annual basis, and be paid in monthly installments.
Appendix A
Fund
Executive Essential Functions include
the following. Other duties may be assigned.
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Est. Mo. Hours
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PAN Two
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Provision of services to PAN members including:
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Responding to phone messages, emails, requests for information, and
referrals
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4
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Process analysis, design and development
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As needed
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Coordination of Screening Function and Screening
Committee meetings including:
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Review of business plans for investment consideration
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12
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Maintaining database of all plans received for future reference and
competitive data points
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4
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Meeting with prospective companies to screen business plans.
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6
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Providing input at time of business plan review
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1
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Dissemination of business plans to Screening Committee members and
meeting with Screening Committee Chair for business plan review
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4
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Contacting presenting companies
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2
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Coaching presenting companies
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2
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Agenda and meeting coordination
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1
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Participation in screening meeting
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2
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Debriefing presenting companies, relay decision, providing input post
screening committee and/or member meeting on presentation skills, business
model, and member feedback
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3
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Providing additional funding resource introductions
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1
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Assistance in coordination of Executive/Administrative
Committee meetings and participation in such meeting including:
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Agenda creation/dissemination with Chair
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0.5
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Participation in meeting
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1
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Publicizing monthly meetings with email announcements
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0.5
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Minutes review/dissemination
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1
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Assistance in Running and Coordinating Member
meetings including:
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Location coordination
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0
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Agenda creation/dissemination with Executive/Administrative Committee
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1
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Publicizing monthly meetings with email announcements
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0.5
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Preparing materials for monthly meetings
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2
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Minutes review/dissemination
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1
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Contact presenting companies
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1
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Set-up of presenting companies
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1
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Assistance in Running member meeting
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2
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Maintenance of accurate voting records and meeting minutes
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2
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Debrief presenting companies, relay decision
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3
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Coordination of Due Diligence (DD) Activities for
investment prospects with DD Team Leader including:
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Request & receipt of DD materials from investment prospects
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2
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Assistance in recruitment of DD team members
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1
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Assisting with DD research and financial projections
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2
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Meaningful participation in DD process
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8
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Coordination with other angel networks, venture capitalists, and
private investors in deal syndicates
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2
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Assistance with Compilation of DD Report/Slides
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1
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Provision of services PAN member prospects
including:
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Responding to inquiries, providing documents etc.
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2
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Assistance with and Coordination of Investment:
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Coordination of Term sheet development and communication to DD team
and investment prospect
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2
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Coordination with legal counsel
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4
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Document completion and check delivery
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1
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Assistance with monitoring of portfolio companies
including:
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Compiling monthly/quarterly data from portfolio companies
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2
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Maintaining files for each portfolio company. Including, but not limited to, due
diligence materials, term sheets & subscription documents, company
updates/reporting, and press reporting/releases
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1
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Working with the Monitoring Committee to check portfolio company
conformance to plan
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1
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Providing meeting statistics
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1
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Proxy maintenance and other legal requirements of the fund
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1
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Responding to requests for assistance or referrals
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0.5
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Providing coordination efforts of members with relevant experience to
build the market value of the company
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1
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Keeping abreast of competition and/or future acquirers of invested
companies
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1
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Coordinating Board of Directors meetings attendance when
monitor/observer is not available
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2
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Providing financial and reporting assistance as needed
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1
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Assistance
in maintaining a PAN presence in the community/region/state to attract deal
flow
including:
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Coordinating
member/Fund Executive participation in meetings and in joint activities with:
Regional economic
development entities
National angel
organizations
Speaking engagements
Newspaper columns
Granting press
interviews
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2
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Maintenance of
PAN Financial Records of the organization including:
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Collection of member subscription docs
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1
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Closing on membership interests and capital calls
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1
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Maintaining files for capital accounts, checks, deposits, invoices,
and receipt of payments.
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1
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Maintaining files for add-on interests
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1
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Preparing Balance Sheet and P&L as required for Executive
Committee and Member meetings
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1
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Assisting in the
preparation of the PAN Federal and State income tax forms
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2
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Issuing correct and timely K1 forms
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2
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Issuing correct and timely Member Statements of Account
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2
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Securing and creating back-up of records
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1
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Coordination with outside accounting firm to verify accuracy of records as directed by the Admin./Exec.
Committee
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1
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Coordination and dissemination of cash and/or securities to PAN
members upon portfolio company liquidity event
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As needed
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Maintenance of PAN
administrative records and database (in addition to above) including:
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Maintaining active and prospective member
information current and confidential
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0.25
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Maintaining screening committee records
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1
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Maintaining member meeting records
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1
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Maintaining a
historical reference by setting up filing and retrieval systems for newspaper
clippings, relevant articles, and publications
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0.25
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Securing and creating back-up of records/database
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1
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Assistance with Maintenance of PAN Website
including:
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Collecting/updating information
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1
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Posting documents/reports/minutes to website
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1
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Assisting members with use of the website
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1
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Maintenance
of technical and business knowledge
including:
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Attending educational
workshops; reading business publications.
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0.5
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Contributions to the team effort including:
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Performing related tasks and accomplishing results as needed.
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2
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Assurance of
efficient computer and systems operations including:
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Performing minor maintenance and systems
back-ups; working with service providers to assure processing and reporting
needs are met, reducing downtime and difficulties or problems, and in selecting
and implementing new systems and software.
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1
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Total Estimated
Monthly Hours
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120
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