Vice President for Business Affairs

PURPOSE OF V.P. for BUSINESS AFFAIRS

Early priorities for the Vice President for Business Affairs include:

• To assure the financial integrity of the University by developing and implementing sound fiscal policy, effective financial controls, processes, and institutional budgets. The VPBA will ensure that the University engages in transparent decision making based on sound financial practices, and that budget managers and decision-makers at every level have relevant information to guide their stewardship of the institution’s resources. This professional will ensure that appropriate controls are in place to validate proper use of resources and that reporting to internal (Board, senior leadership, etc.) and external (i.e. financial institutions, government agencies, et al) audiences is accurate and timely. The successful candidate will be a leader adept at managing the multiple facets of financial health, including operating budgets as well as more sophisticated topics such as cash flow management, use of debt (and the related compliance with covenants), and management of endowments funds and long-term investments.
• To develop, evaluate and oversee implementation of effective plans, which are both appropriate to and effective for the University's short-term and long-term financial health. In particular, the VPBA will develop and execute multi-year revenue and expense forecasts that illustrate future possibilities, as well as the potential results of various scenarios and decisions. Because of the institution’s dependence on net tuition revenue, the successful candidate will be conversant in enrollment management principles, including use of financial aid practices that simultaneously address both affordability for students and financial viability for the University.
• To spearhead selected strategic initiatives, particularly in the areas of budget, finance, human resources, and benefits. As a member of the senior team, the VPBA will also contribute to, and occasionally be called upon to lead, strategic initiatives at the institutional level.

PRIMARY RESPONSIBILITIES

The VPBA has a variety of responsibilities both within their areas of oversight and at the organizational level. Included among those responsibilities are the following:

Administration

To be responsible for administration and oversight of the following functional areas within the University:

• Accounting and budgeting
• Grant accounting, budgeting, and reporting
• Student Accounts
• All related systems of internal financial control
• University-wide risk management including responsibility for appropriate P&C and H&W insurance placement, renewals, and appropriate levels of coverage; member of university's Crisis Management Team
• Chair university's Retirement Planning Committee, ensuring fiduciary responsibility to all 403(b) participants
• Maintain effective working relationship with all banking/financial institutions
• Preparation for and coordination of the annual external financial statement audit and Form 990
• Investment management including oversight and coordination of OCIO investment managers
• Human resources management including compensation and benefits administration, payroll, and employee life cycle management (hire to retire)
• Administrative liaison to Board of Trustee's Finance & Infrastructure Committee, Audit, Risk Management & Compliance Committee, and Investment Committee
• Assist with purchasing and securing competitive bids for all major contracted services and deferred maintenance issues

Financial Management

• To oversee, manage and implement the accounting, financial planning, and financial management necessary for University operations
• To develop and maintain a five-year financial planning model (including downside risk analysis) that is used by the Administration and by the Board of Trustees
• To administer the University's investments, endowment spending, and other spending policies with emphasis on a strong stewardship of funds.
• To provide fiscal leadership for effectively directing and coordinating the budget process to structure fiscally sound operating and capital budgets; chair university's Budget & Planning Committee.
• To provide ongoing and effective budgetary administration.

Financial Reporting

• To prepare, present and interpret the major financial reports to executive management, the Board of Trustees' Audit, Risk Management & Compliance and Finance & Infrastructure Committees, and then to the full Board.
• To provide regular financial reporting directly to the President to assure timely knowledge and full understanding of all University financial issues
• To provide timely financial reporting to the Vice Presidents in support of their functional areas of responsibility
• To provide timely and accurate information related to the fiscal strength and stability of the institution to the various University constituencies as appropriate.

Financial Communications

• To serve as the University's central repository for all historic, current, and proposed financial information which is necessary to support effective financial communications for internal, regulatory, or other external purposes.
• To provide regular, direct and timely support to the President in order to assure accurate communications on all relevant financial issues concerning the University.
• To serve the President directly, whenever the president may direct, as financial communicator to the Board, faculty and staff, students, alumni, parents, donors, and any other segments of the community as needed.

Collaboration

The success of the University relies greatly on the effectively coordinated efforts of its senior administrative team. As such, it is essential that the Vice President for Business Affairs (VPBA) work closely and collaboratively with all sectors of the University's constituencies. The VPBA plays a central role not only in effective management of and planning for the University's finances, but also in providing these constituencies with ongoing communication, education, and knowledge of the University's financial objectives, condition, and strategies. The nature of this position requires that the VPBA:

• Maintains a strong Business Office staff capable of and accountable for delivering quality financial services to the student body and other constituencies.
• Provides ongoing management and training to the Business Office staff to broaden its individual as well as contingency management capabilities.
• Maintains solid communications with the faculty and staff to assure that business and financial policies, procedures and financial / budgetary controls are well understood as well as compatible with the overall needs of the University.
• Maintains solid communications with the Senior Administration as well as with the Board of Trustees to assure that all relevant financial information is available to them on a timely basis and in an easily understood and useful format.

REQUIRED QUALIFICATIONS AND PREFERRED CHARACTERISTICS

Required Qualifications

• Bachelor's Degree in business, finance or a field directly related to the responsibilities of this position
• Five years of successful leadership within finance or related operational area in an educational or not-for-profit setting
• Willingness to support the Catholic and Franciscan values of the university

Preferred Qualifications/Characteristics

• Certified Public Accountant or Certified Management Accountant
• Ten years' experience in financial or related operational field
• Experience in higher education
• In-depth working knowledge of and experience in those financial issues unique to higher education (including such areas as D.O.E. regulations; accreditation requirements: financial aid management, peer group benchmarking standards).
• Strong working knowledge of financial technologies necessary for maintenance and support of the delivery of Business Affairs services
• Demonstrated knowledge of internal financial controls
• Proven ability to effectively coach, mentor, and develop employees at all organizational levels
• Interpersonal skills necessary for developing and sustaining productive working relationships and trust building with all constituencies
• Excellent strategic thinking and conceptual skills
• Proven abilities in financial communications, both written and oral.
• Participate in and promote a culture of continuing quality improvement