Position: Vice President for Finance and Administration
Reports to: President
Salary Range: $150,000-155,000
Position Summary: The Vice President for Finance serves as the senior administrative official responsible for providing administrative leadership, oversight, and direction of the business and financial operations of the College.
Primary Responsibilities:
Financial Reporting & Planning
- Develops financial plans and strategies to support the College’s goals, including identifying opportunities to create value and improve financial strength. Monitors both short and long-term internal and external financial and operational developments to ensure that forecasts are current and accurate.
- Directs and supervises all financial control activities to ensure soundness of all College financial processes, ensures compliance to GAAP and Non-Profit Accounting Standards for external financial statements as well as compliance with tax filings and regulatory requirements.
- Prepares and presents monthly and annual financial statements, reports, presentations, and necessary correspondence related to the financial oversight and management of the College and reports the financial condition of the College to the Board of Trustees, regulatory authorities, investment partners, the College president, and administration regularly.
- Coordinates regular meetings with senior staff to review actual performance against budget and develop action plans to ensure financial targets are achieved.
- Oversees and ensures timely completion of annual financial audits.
- Develops and maintains the College’s plan for capital expenditures
Budget Preparation
- Organizes, coordinates, and supervises the development of the College’s budget and timely presentation to the Board of Trustees for approval.
- Develops procedures that integrate business and strategic planning into the annual budget process, ensures organizational needs are identified, and priorities are established as part of the financial plan.
- Monitors external events and developments to ensure that budget preparation incorporates the most current information.
Investment, Cash & Debt Management
- Manages cash flow, resolves priorities relating to the allocation of cash with senior staff, and manages cash reserves to maintain sufficient liquidity for operations.
- Prepares cash flow forecasts and regularly reports the cash position of the College to the President, senior staff, and the Board of Trustees.
- Ensures timely collection of accounts receivable.
- Directs and coordinates the College’s debt financing and debt service payments with creditors and external agencies.
- Ensures regular review of the performance of the College’s endowment. Works with the College’s investment advisor and the Finance & Investment Committee of the Board of Trustees to execute approved changes in asset allocation of the investment portfolio.
- Business Services
- Supports College offices such as Student Financial Aid, Student Business Services (Student Central), Institutional Advancement and Admissions.
- Provides support for grant application and financial reporting and control.
- Coordinates the purchasing activities of the college, including contract management, risk management, and insurance coverage.
- Ensures that the College complies with all financial regulatory, legal, administrative, contractual, procedural, accounting, and accreditation standards.
- Establishes, coordinates, maintains, and systematically reviews the process for financial evaluation of the college’s instructional and non-instructional programs and activities. Serves as a resource to college personnel in determining the cost-effectiveness of current and proposed initiatives.
- Provides oversight and advice regarding the College’s financial risk. Serves as advisor to the Office of the President and senior staff on financial matters.
Service Excellence
- Works collaboratively with senior staff and functional directors and serves as an internal consultant.
- Evaluate the Finance Department structure and team plan for continual improvement of the efficiency and effectiveness of the group as well as providing individuals with professional and personal growth with emphasis on opportunities (where possible) for individuals.
- Provides leadership to assigned areas by focusing on planning and execution to help College management and the organization succeed and improve productivity, particularly by providing stakeholders with effective information, support systems, resources, and business solutions.
- Creates and maintains a customer service culture, program, orientation, and focus for assigned areas. Monitors departmental activities and customer satisfaction with service delivery and identifies and implements appropriate improvement measures.
- Public and Intergovernmental Relations
- Serves as the primary legislative liaison relating to College financial issues.
- Represents the College to media, government agencies, funding agencies, students, and/or the general public/local communities in concert with the College’s communication planning and delivery.
- Maintains positive and productive relationships with federal, state, and local officials and ensures timely financial reporting as may be required by federal, state, and local agencies, or established accounting standards.
- Supports the strategic planning process with the President, Cabinet, and the Board of Trustees
- Participates as a collegial and active member in Cabinet initiatives.
- Supports college-wide events that require recruiting, retaining, or other student-success initiatives.
- Assists, as appropriate, in the cultivation of donors and supporters of the College.
- Performs other related duties as assigned.
Experience:
- A seasoned financial manager with a minimum of a bachelor’s degree is required in business administration or a related field. Advanced degrees and professional certifications strongly preferred (MBA, MAcc, Certified Public Accountant and/or Certified Management Accountant).
- Minimum of ten years of progressively responsible financial and administrative experience in a medium to large and complex nonprofit organization is required. Experience in higher education is strongly preferred.
- Demonstrated knowledge of methods of allocating scarce resources and the attendant revenue-enhancing models, strong leadership skills, and ability to communicate effectively with various constituencies within the college.
- Experience in development and fundraising.
- Working knowledge of nonprofit accounting, accounting standards, and regulatory accounting.
- Familiarity with current budgeting software is required.
- A strong understanding of capital markets and investment strategies.
- Must have outstanding written and oral communication skills.
- Exhibit independence and collaboration in the workplace.
- Strong technical organizational and management of fiscal services.
- In-depth understanding of relevant financial reporting requirements to support grant funding.
- Thorough understanding of operations in higher education, including all aspects of the academic, financial, and auxiliary/support functions
Skills and Abilities:
- Ability to create, understand, and convey complex business presentations.
- Knowledge of business practices and procedures.
- Ability to multi-task and work in a fast-paced and ever-changing environment.
- Ability to address critical needs that occur on short notice and require immediate action.
- Ability to supervise and train employees, including organizing, prioritizing, and scheduling work assignments.
- Knowledge of the policies and operational characteristics of government funding agencies and financial regulatory bodies.
- Employee development and performance management skills.
- Knowledge of government financial reporting requirements and standards.
- Skill in examining and re-engineering operations and procedures, formulating policy, and developing and implementing new strategies and procedures.
Please use the link below to access Keystone’s employment portal:
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