POSITION DESCRIPTION
FOR THE POSITION OF
DIRECTOR OF FINANCE
May 2021
POSITION DESCRIPTION Carolina Friends School, Director of Finance Prepared by Pete Gillin, Managing Director
POSITION DESCRIPTION
POSITION Director of Finance
ORGANIZATION Carolina Friends School
REPORTS TO Head of School FAST FACTS
LOCATION Durham, NC FOUNDED: WEBSITE cfsnc.org 1962
TOTAL STUDENTS: 504
STUDENT AGE RANGE: OVERVIEW 3-18
Carolina Friends School is a preK-12 co-ed day school inspired by TOTAL STAFF: 118 Quaker values, committed to excellence in all we do. We believe the best education amplifies a child’s curiosity, courage, and creative STAFF WITH ADVANCED thinking. Every day, we empower our students to question the world DEGREES: 62% around them, discover their passions, think deeply, and use their voices in service of the greater good. Because when our students are STAFF ETHNIC/RACIAL DIVERSITY: 19% taught how to think, not just what to think, they are prepared to confidently navigate their own path, advocate for themselves and STUDENT/STAFF RATIO: others, and impact the world around them. 9:1
MISSION STATEMENT STUDENT ETHNIC/RACIAL Carolina Friends School is a vibrant and inclusive learning community DIVERSITY: empowering students to think critically, creatively, and 26% independently. We foster active exploration and quiet reflection, ADJUSTED TUITION individual endeavor and collaborative engagement. Inspired by FUNDS: 1.88M Quaker values—pursuit of truth, respect for all, peaceful resolution of conflict, simplicity, the call to service—we teach our children that STUDENTS IN OUR it is possible to change the world. ADJUSTED TUITION PROGRAM: 32%
ENDOWMENT: $19.1M
HISTORY In 1962, Carolina Friends School was founded to be different by design — purposefully integrated, student-oriented, and radically equal. It wasn’t easy.
A small group of families within the local Quaker meetings gathered with the idea for a school welcoming children of every race and economic background. They began with early education programs operated out of the Durham and Chapel Hill Friends Meeting Houses. As the program and its students grew, land was acquired on our current main campus, and a Lower School facility was built. Early on, our educators incorporated ideas of open classrooms, with group tables instead of desks, teachers working in teams,
1
POSITION DESCRIPTION Carolina Friends School, Director of Finance Prepared by Pete Gillin, Managing Director
and mixed-age class groupings. Experiences with these collaborative spaces and teaching practices informed the construction of the Middle and Upper School buildings and programs in the early 1970s.
When state legislation was passed to require standardized testing in schools in 1977, Carolina Friends School educators objected to restricting curriculum and using state-mandated tests as a means of assessment. Our school applied for and was granted an exemption, but still supported seven other schools in their successful legal battle to use other methods of assessment than the state tests.
Over the years, Carolina Friends School has continued to build new opportunities for students, including the construction of our Performing Arts Center as a fitting home for our strong arts curriculum. Our aims to support a more diverse community have included early adoption of staff benefits for same-sex partners and the support for the first student-led middle school gay-straight alliance in our area, if not the state. Most recently, efforts have included the expansion of our economic diversity through our Adjusted Tuition Program and the addition of a Director of Diversity, Equity, and Inclusion and Board Equity and Justice Committee. What has not changed are our core values — our commitments to social justice, to serving the greater good, to seeing and celebrating the unique value of each individual, and to carefully stewarding our resources.
QUAKER VALUES Most students, parents, and teachers at Carolina Friends School are not Quaker. Regardless of our individual spiritual beliefs, our identity as a Friends school is central to who we are. Quakers believe in the ability of each individual to become their best self, the power of community, and the importance of acting for the greater good. We are secular, inclusive, and deeply guided by Quaker values. The philosophy of Carolina Friends School is reflected in the following beliefs, which are rooted in the tenets of the Religious Society of Friends:
Belief that the truth is continually revealed Belief in seeking peace with oneself and others Belief in accepting and respecting each individual’s uniqueness Belief in the spirituality of life Belief in the value of simplicity Belief in the power of silence
The spirit of equity and inclusion are evident everywhere on the campus and, in that spirit, everyone at Carolina Friends is called by their first name, including the Head of School.
OUR CAMPUS Outdoor learning and respect for the environment are key to a Carolina Friends education. Our Main Campus sits on 126 acres at the edge of Duke Forest, central to Durham, Chapel Hill, and Hillsborough, North Carolina. We have additional Early School campuses in Durham (nestled by Duke University’s Central Campus), and Chapel Hill (right by the campus of The University of North Carolina at Chapel Hill). The satellite campuses share spaces with the Durham and Chapel Hill Meetings.
In addition to our Early, Lower, Middle and Upper School buildings, Main Campus also houses informal and more structured outdoor learning and recreation spaces, our athletic facilities (including the Gym,
2
POSITION DESCRIPTION Carolina Friends School, Director of Finance Prepared by Pete Gillin, Managing Director
practice gym, tennis courts, and soccer, ultimate, and baseball fields), a greenhouse, two libraries, multiple visual art studios, and our Performing Arts Center.
The School benefits greatly from its location in the “Research Triangle” comprised of Durham, Chapel Hill, and Raleigh and the surrounding area, and is enriched by the intellectual and cultural life that the universities in the Triangle afford.
ROLE SUMMARY
The Director of Finance the chief financial officer at Carolina Friends School provides leadership, oversight, and stewardship for all aspects of the School’s financial resources while ensuring absolute institutional integrity on fiscal matters and promoting best practices in finance and administration. The core responsibilities of the Director of Finance include:
▲ Strategic Partnerships: Work closely with the Head of School, the School’s Administrative Leadership team (known as “Friday Meeting”), and the Board of Trustees, to shape the strategic direction of the School; Provide recommendations, financial analyses, and other data to inform the development of strategic plans and other initiatives.
▲ Trustee Engagement: Serve as a liaison to the Business, Investment, and Audit Committees of the Board of Trustees on strategic issues, and provides counsel regarding finances, debt management, budget preparation, long-term financial planning, capital planning and development, compliance, human resources, and risk management; Communicate regularly with the clerks of the Business, Investment and Audit Committees to prepare for Board committee meetings; Work closely with the Clerk of the Investment Committee on endowment management and management of other financial investments.
▲ Budget Planning and Oversight: Together with the Head of School and Board of Trustees, the DFO is responsible for planning the operating and capital budget and for developing a long-term sustainable economic model with a view to maintaining and advancing the financial stability of the School. Monitor the overall budget on an on-going basis and support Budget Managers by providing access to monthly budget reports and responding to needs regarding utilization of resources.
▲ Financial Oversight: Maintain and recommend financial and administrative policies and practices to ensure a sound financial structure for the School; Oversee contracts and leases, capital purchases and construction, debt management, endowment, and investment portfolio.
▲ Business Office Operations: Oversee ongoing work of the Business Office including general ledger and accounting, accounts payable, accounts receivable, student billing, cash management and short-term investments, budgeting, financial reporting, human resources, payroll, employee relations and benefits, and the 403(b) plan administration; Manage, mentor, and develop Business Office Staff, including an Accounting Manager, Accounting Technician and a Human Resource Generalist; Ensure Business Office resources are used efficiently and effectively. While
3
POSITION DESCRIPTION Carolina Friends School, Director of Finance Prepared by Pete Gillin, Managing Director
CFS’ systems and processes run well, the Director will need to bring a strong analytical mindset to assess how things are accomplished, make adjustments for streamlining and efficiency, and ensure that the office operates optimally.
▲ Outreach to Staff: Educate colleagues about the School’s financial structure, support budget managers in managing their resources, bring clarity to opaque budgetary issues, and enable a collaborative discussion around budget priorities; Provide clear information to staff on issues concerning staff policies; Solicit input from staff on issues concerning staff compensation.
▲ Collaboration with Enrollment and Advancement Offices: Work with the Enrollment Office to create Enrollment Contracts and policies; Serve as a member of the Adjusted Tuition Committee, annually reviewing the Adjusted Tuition award criteria, reviewing applications, and determining awards. Support the Advancement Office in planning for capital campaigns, annual giving, and endowment giving and ensure gifts are properly accounted for and tracked.
▲ Audit and Regulatory Compliance: Manage relationship with independent auditors for annual financial statement audit, 990 preparation and 5500 audits. Oversee preparation of requested documentation for successful completion of audits. Ensure timely filing of the 990 and 5500 and other regulatory filings (990 and 5500). Ensure all school policies are in compliance with local, state, and Federal regulations.
▲ Risk Management: Lead the school’s risk management efforts, including assessing exposures, developing mitigating controls, policies, and procedures to mitigate risks, securing appropriate insurance coverage, and related areas; Identifies internal and external threats and opportunities; analyzes market and competition trends.
▲ Supporting a Positive School Environment: Model and foster high ethical standards, integrity and respect for students, parents, colleagues, trustees, alumni, and other constituents. Work to understand the school’s culture and uphold the school’s values in the conduct of work and operations of the Business Office.
▲ Ongoing Professional Development: Remain current with school administration and operations trends and financial account and reporting standards by participating in educational opportunities, reading professional publications, maintaining professional networks, and participating in local, regional, and national professional organizations.
OPPORTUNITIES AND CHALLENGES While Carolina Friends is in an enviable financial position, the Director will be an instrumental partner in addressing a number of key opportunities and challenges, such as:
▲ Forecasting and aligning budgets and strategic priorities -- In alignment with the School’s strategic plan, the Director will develop a matching business plan to model the cost of priorities and develop multi-year projections and forecasts that align strategic objectives with budget allocations to enable the school to realize its goals.
4
POSITION DESCRIPTION Carolina Friends School, Director of Finance Prepared by Pete Gillin, Managing Director
▲ Facilities planning – Carolina Friends has addressed facilities needs in the last decade including a Performing Arts Center. Moving forward, there are plans to upgrade Upper School facilities to provide updated classroom spaces as well as other enhancements as part of the School’s strategic plan. The Director will play a significant role working on a campus master plan and overseeing and managing finances around these projects.
▲ Compensation Study – Prior to Covid, the school embarked on a compensation study. The next Director will take up the good work that was done and work to complete the study and utilize the results to make sure that CFS remains competitive in the recruitment and retention of faculty and staff.
Addressing these issues will require a leader with strong technical skills, excellent communication skills, and the ability to balance firm fiscal management and stewardship with appreciation for the values-driven culture of Carolina Friends School.
CANDIDATE PROFILE
Carolina Friends School seeks an experienced financial and business operations leader who can connect at a high level of technical competence with the mission of an independent Friends’ school and who will be a strategic partner to the Head of School and the Board of Trustees. The Director will be dedicated to serving Carolina Friends’ mission and promoting its vision and strategy. The Director must be unquestionably committed to academic excellence and to being a visible presence within the Carolina Friends School community.
Desired Qualifications and Experience
▲ At least 7-10 years in progressively responsible financial and operational leadership roles, such as CFO, Controller, or Business Manager.
▲ Comprehensive budget and financial planning experience, together with experience in analysis and reporting, financial modeling, financial reporting, budgeting, asset management, cash management, investing, audit and regulatory compliance, federal and state tax regulations, and reporting procedures.
▲ Proven administrative, managerial, supervisory, problem-solving, and planning experience within a complex environment, preferably in an independent school, college, or other non-profit setting; ability to organize, prioritize, and delegate effectively.
▲ Excellent analytical and strategic thinking skills, with the ability to think broadly about the institution as a whole.
5
POSITION DESCRIPTION Carolina Friends School, Director of Finance Prepared by Pete Gillin, Managing Director
▲ Experience with human resources, including the ability to oversee the development and implementation of the School’s employment practices and policies and to provide support and guidance around HR policies, practices, and benefits.
▲ Exhibits sound and accurate judgement.
▲ Ability to manage multiple projects across functions including follow up and timely resolution of issues.
▲ Works independently and in teams; contributes to building a positive team spirit.
▲ Excellent judgment and decision-making abilities.
▲ Experience with capital projects, including financing construction, and project management and oversight.
▲ Excellent communication and listening skills; ability to relate, build relationships, and work with diverse constituencies.
▲ Ability to mentor, support, motivate, hire, and retain employees.
▲ An understanding of and strong affinity for Quaker philosophy and the School’s mission.
▲ Cultural competence: Experience and commitment to fostering an inclusive and affirming community for all, including students and staff from underrepresented and diverse
APPLICANTS: Please review the Who We Are, Commitment to Diversity and Inclusivity, and Important Information for All Applicants sections on the CFS employment opportunities page.
Carolina Friends School actively strives to be a community of staff, students, and families of diverse backgrounds. CFS does not discriminate based on age, race, color, gender, gender identity, sexual orientation, religion, disability, socio-economic background, family structure, national or ethnic origin, genetic information, or military service in the administration of its policies and program.
CFS is an equal opportunity employer in both policy and practice.
6
POSITION DESCRIPTION Carolina Friends School, Director of Finance Prepared by Pete Gillin, Managing Director
ABOUT DIVERSIFIED SEARCH GROUP Diversified Search Group has been chosen to lead the search for the next Director of Finance. Applications with a resume and cover letter or nominations may be submitted, in confidence, to:
SEARCH TEAM
Pete Gillin Managing Director 215.656.3556 [email protected]
Jennifer Muller Vice President and Senior Associate 215.656.3549 [email protected]
Angela Motte Research Associate 954.254.1577 [email protected]
Keri Conway Search/HR Coordinator 215.656.3556 [email protected]
14610_MAY 2021
7