Vice President of Finance, Chief Financial Officer (CFO)

Job Description

About Wentworth :

Wentworth Institute of Technology (“Wentworth”) was founded to “furnish education in the mechanical arts.” Today, almost 4,000 undergraduates pursue associate and bachelor’s degrees in 23 engineering, technology, design, and management disciplines across five schools : School of Architecture and Design, School of Computing and Data Science, School of Engineering, School of Management, School of Sciences and Humanities. In addition to offering certificate programs, graduate students may pursue 13 master’s degrees. While Wentworth offers traditional semesters, the hallmark of a Wentworth education remains the robust co-op program, offering hands-on experiences that offer depth of learning, relevant experiences, and valuable networking opportunities. More than 38 percent of the class of 2023 were offered post-graduate full-time employment by their co-op employer. This approach to professionally relevant education is uniquely woven into the fabric of Wentworth, where students are encouraged to make connections across disciplines, in classrooms, labs, and as active participants in industry.

Wentworth is a member of the Colleges of the Fenway consortium, and shares many facilities, resources, and activities with nearby institutions. With this membership, Wentworth students are entitled to register for courses with participating neighboring institutions at no additional cost. Wentworth earned the top spot in the latest New York Times college ranking when prioritizing earnings, economic mobility, and economic diversity among colleges in Massachusetts. The Institute’s current operating budget is $151 million, and the value of its endowment is $161 million.

Position Summary :

Reporting to the Senior Vice President of Finance and Administration (SVP), the Vice President of Finance, Chief Financial Officer (CFO) will oversee budgeting and forecasting, financial planning and analysis, finances, accounting, treasury, and endowment. The CFO is a key partner in developing the Institution’s financial strategy and working collaboratively with the SVP and President and other University leadership, as well as the Board of Trustees, ensuring that the institution's operational and capital resources are deployed responsibly and consistently with the strategic plan of the institution. Reporting to the CFO are the following positions : Controller, Director of Purchasing and Auxiliary Services, and University Budget Manager.

Essential Responsibilities :

Finance / Accounting

Develop and execute financial strategies aligned with the University's growth objectives and long-term vision.

Develop and implement recommendations concerning the strategic allocation of resources, business processes, and finance policies.

Develop and model strategies to improve financial performance and efficiency; and identify trends and changes in resource management.

Manage and oversee all treasury functions, including but not limited to, investments, bonds, capital funds, operating cash, credit cards and other negotiable instruments.

Provide the SVP with strategies and analysis on debt and cash management including supporting new ways of funding capital projects through public and private partnerships.

Work with accrediting agencies, government and rating agencies on metrics and reporting of the Institute's financial position.

Deliver timely reports, including dashboards, to the SVP, President and Board of Trustees as needed.

Budget Forecasting

Collaborate and partner with various divisions to secure and maximize revenues, contain costs, and plan for the resource needs across the institution.

Work closely with the President and the SVP on budget development, long-term financial projections, pro forma planning, cost benefit analysis, program / unit performance.

Work closely with the SVP to oversee the annual operating and capital budget process.

Work closely with institutional leadership on projects, programs and initiatives for which there is a financial component.

Team Leadership

The CFO will foster a collaborative work environment that promotes inclusion, professional development, and performance excellence. The CFO is responsible for hiring, managing and developing accounting and finance staff and provide cross-departmental collaboration to ensure that financial systems and solutions support the College’s ambitions.

Campus Partner Collaboration

Have a collaborative, open, and inquisitive style that encourages innovation and thoughtful experimentation.

Display a high level of cultural awareness and sensitivity, ensuring interactions and decision-making consider the multiple perspectives and professional backgrounds of employees and stakeholders.

Build and nurture strong relationships with internal teams, partners, and stakeholders to facilitate proactive communication and collaboration across all financial functions.

Be an influential leader with the ability to elevate the performance of the team – individually and collectively.

Demonstrate a deep commitment to fostering an inclusive environment where all individuals feel valued, heard, and respected.

Minimum Qualifications :

A bachelor’s degree is required.

Minimum of 10-15 years of progressive leadership responsibilities with a combination of experience in finance, accounting, budgeting and operations as well as significant experience in strategy, business, and financial planning.

Extensive executive level experience in the financial management of higher educational institutions with a deep understanding of the financial compliance and regulatory environment that higher education institutions operate within.

Solid foundation in accounting and controls; financial reporting, planning and analysis, and forecasting; and in working with local-state-federal government agencies and rating agents.

Demonstrated financial expertise coupled with strong technical knowledge, deep understanding of financial operations, and proven talent for the development and execution of long-term financial strategy.

Candidates must have a track record of managing banking relationships, debt financing, and capital raising activities.

Strong knowledge of fiscal management principles and practices.

Possess the ability to “deep dive” into the details while staying focused on the holistic financial health and sustainability of the organization.

Strong communication skills to convey complex financial information clearly to stakeholders at all levels.

Preferred Qualifications :

MBA, CPA, or other relative advanced degree is preferred.

Prior experience working with boards of trustees or related governance structure strongly desired.

Prior experience with Workday is a plus.

Inclusive Excellence at Wentworth

Wentworth Institute of Technology is committed to diversity, equity, and inclusion in all University programs and activities. The University does not discriminate based on race, color, national origin, sex, sexual orientation, religion, disability, age, genetic information, gender identity, veteran status or any other category protected by law. All qualified applicants will receive consideration.

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