Job Description
CHIEF FINANCIAL OFFICER (CFO) THE OPPORTUNITY (CONFIDENTIAL)
EDI is proud to partner with a distinguished and reputable institution in its search for a Chief Financial Officer (CFO). This inclusive strategic leader will play a pivotal role in advancing the institution’s financial well-being and focus on enhancing an inclusive organizational culture and climate within a diverse educational community.
The school seeks a dynamic, collaborative, innovative, diverse, and/or inclusive leader with strategic responsibilities and a proven track record in leading financial operations. The incumbent will have the opportunity to oversee all finance-related areas and direct the fiscal functions of the institution, adhering to Generally Accepted Accounting Principles (GAAP) and complying with state, federal, and local laws . The CFO serves as a strategic partner on the senior leadership team, providing guidance, support, and consultation on financial decisions, stewardship, and growth throughout the institution.
If you are an exceptionally experienced and/or credentialed finance professional with a demonstrated commitment to inclusive excellence, then this is the right opportunity for you to join an institution with deep social justice roots to match your interests, and a focus on preparing exceptional graduates for meaningful and impactful careers.
PURPOSE & SUMMARY OF THE POSITION
To provide senior-level financial leadership in support of the mission of the school, including finance and accounting, endowment fund investment coordination, risk management, budgeting, and procurement. Works closely with the President to revise, improve, and refine current finance operations to achieve the school’s long-term vision.
Reporting to the President, the Chief Financial Officer (CFO) provides leadership in support of the school’s commitment to fostering a diverse, inclusive, and welcoming environment for all members of the community, including students, staff, faculty, and alumni. This individual will assist in advancing the strategic direction of the school as a whole, and support and develop partnerships that align with the school’s mission, values, and vision.
THE IDEAL CANDIDATE
Is a results-oriented leader with a track record of success in financial leadership roles
Is a strategic thought partner to the leadership team with the ability to recruit, develop, and motivate a diverse and high-performing finance team
Possesses the ability to navigate competing priorities and be solution-focused
Is a dynamic leader and demonstrates servant leadership qualities in an academic environment
Excels in communication and collaboration with other departments
Exhibits a solid understanding of accounting principles, financial analysis and reporting, facilities management, and data-driven decision-making
Demonstrate commitment to DEIB in current and/or previous role(s)
A compassionate servant leader with high emotional intelligence and organizational/self-awareness
The pay for this position ranges from $75,000 to $130,000, commensurate with experience and qualifications.
ESSENTIAL FUNCTIONS
ACCOUNTING
Ensures accounting records contain timely and accurate recording of transactions
Maintains accurate endowment records and coordinates administratively with the investment manager
Review quarterly investment reports and provide recommendations to the President and Finance Committee members
Ensures accounting records are prepared in accordance with Generally Accepted Accounting Principles (GAAP)
Provide oversight for outsourced accounting services
Review and approve payroll
BUDGETS
Maintains effective budget policies, practices, and supporting information
Coordinates the preparation of fiscal year budgets
Ensures budgets reflect reality in terms of income flow and expenses
Seeks approval of annual budgets from the President for presentation to the Board of Trustees
REPORTING
Ensures financial and other reports as requested, are prepared accurately and timely
Maintains appropriate budgetary controls and expenditures throughout the fiscal year
Coordinates financial reporting as may be requested by outside agencies and as required by law
Works closely with the Board of Trustees to ensure appropriate communication occurs
Reviews and analyzes monthly financial reports and presents analysis to the finance committee
Meet bi-weekly with finance committee chair to provide reporting updates
CASH MANAGEMENT
Ensures internal controls exist and operate to safeguard the receipt and disbursement of cash
Provides internal and external cash-related reports
Ensures cash is available when needed
Coordinates relationships with bankers serving the institution
Provides monthly cashflow projection analysis
Reviews and approves ACH transactions
ANNUAL AUDIT
Manages the relationship with auditors selected by the Board Audit Committee
Coordinates and assists with the preparation of documents needed for the annual audit
Seeks to minimize the audit fee through pre-planning and organization
COLLABORATION COMPONENTS
Provides strategic leadership in collaboration with administrators, faculty, staff, students, alumni, and the broader Rochester community leaders to advance the school’s vision, including efforts to strengthen its financial position
Establishes and maintains relationships with counterparts at mission societies, denominational foundations, and other entities
Identify important projects, ventures, and other potential partnership opportunities
ADMINISTRATION
Ensures the needs of the Board’s Finance and other committees are addressed
Supports institutional vision and strategic plan
Ensures any applicable metrics and performance pointers are in place to measure strategic priority and operational progress
Provides management, direction, and training to Finance and Administration staff
COMPLIANCE & RISK MANAGEMENT
Ensures the institution’s business-related activities are consistent with its mission, vision, and the law
Ensures compliance with educational accrediting bodies and reporting thereto
Ensures that internal controls processes are being followed
Identifies strategic risks and helps to reduce these risks
Works closely with outside risk managers to ensure institutional risks are identified and insured adequately
Determines that insurance premiums are essential and cost-competitive
ADDITIONAL FUNCTIONS Assists in employee benefit program choices, implementation, and management
Assists in the development of ongoing technology improvements
Carries out cost/benefit analyses of curriculum offerings
Supports Institutional Advancement programs as they relate to accounting and finance
REQUIRED & PREFERRED QUALIFICATIONS Master's degree in business administration, public administration, finance, accounting, or related field, and/or CPA designation
Ten years of progressively responsible experience in finance, accounting, and business management
Operational skills in areas of finance, accounting, portfolio management, procurement, budget development, and administration
Understanding of how this position supports mission accomplishment and student success
Demonstrated success in both leadership and management
Being a proactive, value-added problem solver through collaboration and execution of effective strategies for continuous process improvement
Delivery of services effectively and efficiently, exceeding the expectations of stakeholders
Ability to work effectively with all stakeholders in pursuit of organizational mission
Deep sensitivity and commitment to DEIB (culture, race, gender, etc.)
Experience in higher education is highly desired
ACKNOWLEDGEMENT:
I acknowledge receipt and understanding of this job description. I verify that I am capable and willing to fulfill all functions of this position. I understand that the job requirements may vary depending on the employer’s needs. I am willing to be flexible and perform various tasks not listed above as the need arises.
SUPERVISED BY: President
BENEFITS: Refer to Employee Handbook
FLSA STATUS: Full-time, Exempt
PROCEDURE FOR CANDIDACY:
EDI is assisting our partner in this highly confidential search. All applications, nominations, and inquiries are invited. Applications should include, as separate documents, a DEIB Statement, a CV or resume, and a cover letter that addresses the themes outlined in this posting. For fullest consideration, candidate materials should be received as soon as possible. Application materials should be submitted via EDI’s website, and inquiries can be directed to EDI’s Consultants at ( CFO_VPFA@ediesc.com ).
NOTE: All ‘Cover Letters’ should be addressed to the search committee, i.e., “Dear Search Committee,” etc.
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Job Tags
Full time, Local area, Immediate start, Flexible hours,