Vice President for Finance and Adminstration
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Leadership Profile Vice President for Finance and Adminstration CONFIDENTIAL Prepared by Augustana University August 2018 This Leadership Profile is intended to provide information about Augustana University and the position of Vice President for Finance and Administration. It is designed to assist qualified individuals in assessing their interest. Opportunity and Summary of Position Augustana University seeks a Vice President for Finance and Administration (VPFA) who will form a strong partnership with its new President and her leadership team to write the University’s next chapter and shape its future. The University invites applications, expressions of interest, and nominations for this exceptional leadership opportunity. The University seeks a financial leader with a distinguished record of achievement and a superb communicator with exceptional analytical skills. Reporting directly to the President and as a member of her cabinet, the VPFA will serve as an essential partner and strategic advisor to the President and work collaboratively with board members, administrators, faculty, students and staff in advancing the institution’s strategic priorities and mission. The VPFA will provide strategic financial leadership, strengthen budget processes that prioritize academic planning, and optimize structures and processes to maximize effectiveness and impact. The ideal candidate will have a track record of successful senior leadership in finance and administration, as well as demonstrated accomplishments in developing and attaining strategic goals and objectives in a similarly complex organizational setting. Candidates must bring a spirit of partnership, transparency and fiscal responsibility. The VPFA will understand and respect shared governance and will be an advocate for an environment that promotes inclusive decision-making, best practices, student success, and a sense of community across the University. An MBA or advanced degree is preferred. For information regarding how to express a candidacy or to make a nomination for this position, please see the section entitled “Procedure for Candidacy” near the end of this document. 2 The Role of the Vice President for Finance and Administration General Responsibilities • Serve as a member of the President’s cabinet; • Serve as the principal cabinet resource to the Board of Trustees’ Financial Management Committee as well as the Investment and Audit Committees; • Provide executive leadership in business and finance, and maintain a high standard of fiscal management; • Assist the President and cabinet in planning and developing long-range plans for the University; • Assist the President and the special assistant to the president in interpreting and implementing the policies of the Board of Trustees; • Provide leadership in identifying and resolving problems of administration where policy or procedure development may be lacking; • Supervise the preparation and operation of the University’s annual budget and operating plan, and the control of institutional expenses; • Oversee all contracted services; and • Supervise the overall coordination and operation of the Business Office, Buildings/ Grounds and other areas of responsibility. Leadership, management and interpersonal skills • The ability to exercise and apply sound judgment and decision-making skills as well as the ability to maintain the integrity and confidentiality of data; • Strong communication skills, presenting complex data in a simple and straightforward manner to faculty and staff at all levels; • The ability to interact with senior leaders and the Board of Trustees concerning complex financial analysis; • The ability to analyze projects and proposals, develop policy, and stay current with emerging technologies; • The ability to establish and maintain effective communication and working relationships with internal and external constituents; • Dynamic and collaborative leadership, with an ability to maintain a visible and energetic presence within the broader campus community; • The ability to research, retrieve and organize data; prepare reports and financial documentation; and analyze and audit data to detect and correct errors; 3 • Knowledge of generally accepted accounting principles and procedures in a not-for-profit environment; • The ability to manage risk, insuring against it when appropriate and minimizing it as circumstances dictate; • The ability to engage in and encourage meaningful and intentional professional development appropriate for areas of responsibility; • The ability to establish and nurture effective and positive working relationships and maintain professionalism when dealing with all university staff, faculty, students and other constituents; • The ability to accept and provide constructive coaching in a professional manner; and • A commitment to adhering to the governing documents, policies and procedures established by Augustana University. Opportunities and Expectations for Leadership The President seeks a talented co-strategist to provide entrepreneurial financial thinking and strategic analysis to support future institutional planning. The Board of Trustees and senior leadership team are seeking a visionary, creative ally to lead the institution through a long-term financial planning process while also proactively identifying areas of opportunity and improvement with the goal of balancing the budget in two years. The VPFA will bring a flexible, creative style and transparent communication to the budget development process. The VPFA will provide advice and leadership and serve as both a resource and an idea generator whose financial expertise will enable beneficial change. As the University moves forward with ambitious plans for the future, the institution needs to integrate financial plans that strategically lead to long-range efficiencies and stability. The new VPFA will create and implement financial plans supported by organized data systems that are tied to strategic plans and that will allow the University to meet its goals. It will be important to work carefully to investigate alternative models for operational and business improvements and efficiencies, and careful oversight will be critical to success. There is an existing, capable and committed team in place to support the new VPFA. S/he will have the opportunity to further develop a dedicated and talented team that is both efficient and effective. The University will rely even more heavily on a highly performing staff as it strives to strengthen the alignment between its strategic planning and financial resources, contain costs 4 and enhance efficiency. The new Vice President will be expected to hold others accountable and set high standards for professional growth and integrity, personally and for the staff. The University seeks a new VPFA who will bring a commitment to promoting a customer service orientation and a culture of engagement, transparency and collaboration across campus. The VPFA will build strong and productive relationships with other departments to better understand their needs and identify creative solutions to new initiatives. The ultimate goal is to establish a process that is participatory, clearly defines the University’s goals and strategic priorities, and ensures long-term financial strength. Personal Qualifications and Personal Qualities Augustana University seeks a VPFA who is attentive to the challenges facing a tuition-driven institution and who will understand the resource opportunities in private liberal arts higher education; is a proponent for the development and management of a budget model reflecting that external awareness; and will play a central role in prompting new sources of revenue, including public-private and private-private partnerships and other external alliances. The VPFA is responsible for all corporate financial and administrative affairs and for the preparation, allocation and control of the organization’s annual budget and multi-year operating plan. The VPFA will maintain high standards of fiscal management, participating in the overall planning and direction of institutional affairs. The successful candidate will be a strategic and analytical thinker who can thrive in an environment where open dialogue is expected. The new leader for the University’s finance and administration department will provide the vision, enthusiasm, communication and commitment to propel the department and the institution forward. Areas of current responsibility include the Business Office, Buildings/Grounds and Capital Projects, Campus Safety, Conferences and Scheduling, Insurance and Risk Management, Contracts and Legal Services, Treasury and Investments, Financial Aid and Auxiliary Services. The VPFA also works closely with all other areas of campus, including, but not limited to, Academic Affairs, Human Resources, Advancement, Enrollment, and Information Technology Services. 5 Critical to the role is service to the Board of Trustees’ Financial Management Committee as well as the Investment and Audit Committees. The institutional budget is approximately $50 million with an endowment value of over $80 million. Qualities and Qualifications A proven leader is needed with a record of accomplishment in creating and managing financial and administrative systems and operations in organizations of similar size and complexity. Critical will be demonstrated experience working with a president, governing board, and internal and external constituencies to support transparent, inclusive and compliant processes.