Chief Financial Officer, Vice President for Finance and Treasurer (Project Management)

Job Description

Stevens Institute of Technology invites nominations and applications for the position of Chief Financial Officer (CFO), Vice President for Finance and Treasurer. Reporting to the President, the CFO will provide strategic leadership, planning, management and coordination for all financial and treasury functions of the University. The successful candidate will have a major role in enabling the successful implementation of the University's strategic plan, The Future. Ours to Create. This ambitious effort is integral to the future growth and success of the University.

The Division of Finance at Stevens Institute of Technology is committed to providing the highest quality of service in support of the University's education and research mission. The overarching responsibility of the Division of Finance is to sustain and further strengthen the University's financial vitality and to ensure transparency in utilizing institutional resources to advance the university's institutional mission and strategic goals. Adoption and implementation of industry standards and best practices in administrative, business and fiscal management are a critical aspect of achieving this goal. The CFO is responsible for the strategic leadership and management of all areas of the division of finance that employs 50 staff members. Those areas include accounting and financial reporting, financial planning and budgeting, and treasury functions for both the endowment and operations, as well as risk management and purchasing functions. The ideal candidate will also possess experience in financial planning and management of major capital projects. The CFO is the key administrator supporting the Audit, Finance and Investment Committees of the Board of Trustees. Working collaboratively with the other members of the President's Cabinet, the CFO will assume a strategic leadership role in the financial support of the University's 2012-2022 Strategic Plan that projects major growth of the University. For example, according to the plan, over the next eight years, Stevens' undergraduate student body will grow in selectivity and in size from the current 2,892 to 4,000 students. In graduate studies, the goal is for Stevens to increase selectivity of graduate admissions and to increase the size of the master's and full time Ph.D. student population by at least 20 percent from the current baseline of 3,956. Another goal is to increase the externally-supported annual research expenditures from the current $32 million to an inflation-adjusted $75 million. The strategic plan also calls for hiring 100 new faculty members by 2022. Finally, the Strategic Plan projects growth to six from three designated national research centers. The CFO will be responsible for the implementation of sophisticated investment and financial plans to support the realization of these ambitious goals. The President and his Cabinet envision a future that incorporates a high level of energy, collaboration, efficiency and common purpose across the University. The Division of Finance provides important financial and administrative services to the entire University. The new CFO will lead a strong professional team committed to the highest level of customer service and continuous improvement in support of Stevens' exciting future.

The new CFO will be asked to address the following critical leadership issues, among others:

• Assess organizational efficiency and effectiveness against both the annual budget and Stevens' strategic financial plan; develop tools and systems to provide critical financial and operational information to the President, and make actionable recommendations;

• Lead the development of the Division of Finance by fostering a shared vision, acting as a role model, and demonstrating the organization's values of teamwork, superior customer service, and excellent financial management;

• Foster a culture of openness, collaboration and transparency while promoting a dynamic customer service orientation and open communication in decision-making and information dissemination across the Institute;

• Provide the members of Board of Trustees with the clear communication and financial expertise and analysis that they need to carry out their fiduciary responsibilities for the University; Stevens Institute of Technology Chief Financial Officer

• Use sophisticated financial approaches to work in partnership with external entities to support significant capital projects as part of the strategic and master plans. As both undergraduate and graduate enrollments grow, as new faculty are added, and as sponsored research increases, Stevens will need new residential, academic and research buildings. The expertise of the CFO will be key to the successful implementation of the University's master plan;

• Provide financial expertise in support of the growing undergraduate and graduate student populations in assessing pricing models and net tuition results in support of that growth. The CFO will play a key role in the planning and analysis for this growth in enrollment and its overall impact on Stevens;

• Foster an organizational culture and infrastructure that supports operational excellence, delivers quality customer service and promotes optimal efficiency. The CFO will analyze the current organization and administrative practices in the Division of Finance to ensure that it is most effective and efficient in providing service to the entire campus, using best practices supported by measurable standards. The CFO will review the division structure and organization to ensure that all staff members have the support and resources they need to serve those with whom they work within a program of continuous improvement; and

• Act as a strategic partner to the President and the President's Cabinet, assisting them and the leaders across the campus in their own financial leadership, and bringing a collaborative spirit and transparent process to resource allocation and prioritization, budget development and review.

Qualifications and Personal Qualities

The CFO will be a consummate professional with the highest integrity who embraces a team environment and works with colleagues in a spirit of partnership, transparency, and fiscal responsibility. He or she will be an innovative leader with excellent financial credentials and significant managerial experience. The successful candidate will possess a proven record of financial and business management success. He or she will be an energetic, knowledgeable and experienced leader capable of both vision and execution, adept at both motivating and managing staff to achieve ambitious goals, and able to work closely and collaboratively with the President and senior administration, the Board of Trustees, academic leadership, faculty, students and other members of the Stevens community. The ability to build consensus and superior interpersonal and communication skills are essential. A record of demonstrated success in financial and organizational management, including the strategic allocation of resources for maximum impact, and the ability to specify, monitor, and report metrics, are required.

The successful candidate will possess and demonstrate:

Vision and Leadership:

• Ability to provide inspiring and visionary leadership that can advance the position of Stevens Institute of Technology as a national leader in education and research in the 21st century;

• Evidence of an entrepreneurial orientation with an eye to new opportunities and emerging challenges;

• Ability to work effectively with an engaged Board of Trustees;

• A proven team member and leader able to lead effectively across units, using collaboration and persuasion to guide decision-making and influence critical operations;

• Experience in business process re-engineering, reviewing and realigning systems, policies and personnel to improve service delivery and productivity; and

• Knowledge of current issues and financial challenges facing higher education institutions. Exceptional

Communication Skills:

• Ability to build trust and develop strong working relationships across the University in an open, collaborative process; and

• Excellent speaking and writing skills, able to articulate a vision effectively to all constituencies and to crystallize complex financial information into lay terms.

Strategic Planning and Analysis:

• Experience with strategic planning and multi-year financial planning with the ability to apply critical, conceptual and strategic thinking to important financial, academic and administrative issues across the Institute; and

• Ability to engage in constant strategic analysis of opportunities and challenges; to produce forward-looking, transparent strategic plans and budgets and to employ information on national and international trends in higher education effectively in planning.

Finance and Budgeting:

• Expertise in comprehensive, multi-year capital and operating budget development and implementation;

• Thorough understanding of the preparation of monthly and annual financial statements and other financial reports in a higher education environment;

• Understanding and use of a wide variety of financing techniques, financial forecasting and ratio analysis, business intelligence, policy analysis, data analysis, program evaluation and cost-benefit analysis; and

• Knowledge of and experience with investments, cash/treasury management, and capital markets, both in theory and in practice.

Capital Planning and Development:

• Experience with capital planning, major construction, renovation and maintenance programs; and

• Understanding of facilities management, capital construction, real estate development, and campus master planning.

Expertise in the Use of Technology:

• The sophistication to understand the value of technological innovations and to lead the process of leveraging technology investments that support more efficient and effective University processes and services; and

• Knowledge of current financial and accounting systems applicable to higher education. Education and

Experience:

• A Bachelor's degree is required and a Master's degree in an appropriate discipline supplemented by a current license as a CPA is highly desired; and

• A minimum of 15 years of increasingly responsible and applicable experience, preferably in higher education, is expected.

Department

Office of the President

EEO Statement:

Salary Minimum: 420000Salary Maximum: 420000