What are the responsibilities and job description for the Chief Financial Officer Contractor position at ITC?
Job Description
Job Description
Position Summary :
The Chief Financial Officer Contractor (CFO) reports directly to the President and works collaboratively with other members of the Executive Team. The CFO leads and manages the Office of Financial
Services and related non-academic staff. The CFO also provides strategic support to the Board of Trustees, primarily as a liaison to the board committee on Fiscal Affairs and Investments.
Core Top Skills :
The Chief Financial Officer Contractor is a strategic fiscal advisor to the President / CEO and key executive administrator.
The Chief Financial Officer Contractor provides executive leadership for the institution with specific responsibility for overseeing the Office of Financial Services.
The Chief Financial Officer Contractor designs and implements policies, processes, and procedures to optimize administration of institutional resources including, restricted / unrestricted funds, investments, accounting, sponsored research, and financial systems.
The Chief Financial Officer Contractor ensures ethical, accurate, and actionable reporting of financial data to support advancement and management of institutional strategic direction and priorities.
The Chief Financial Officer Contractor collaborates with executive colleagues, relevant staff, and faculty to assess, plan, forecast, build, and execute strategy in service to institutional strategic direction and priorities.
Duties and Responsibilities :
Promotes the financial well-being of ITC by providing budget management, monitoring appropriate investments of temporary cash balances, exercising executive control over university budgets, and safeguarding all financial assets of the University.
Promotes the fiscal health and well-being of the institution providing strategic leadership, budget management, monitoring institutional investments and accounts, exercising control over institutional budgets, optimizing, and safeguarding all institutional assets.
Directs, oversees, and integrates the activities of various core financial services units, ensuring fiscal compliance and establishes fiscal controls to safeguard institutional resources while enabling the institution to accomplish its mission.
Provides strategic analysis, reporting and recommendations to the President CEO, Executive Team, and the Board of Trustees on issues related to the financial status, health, and strategy of the institution.
Represents and makes presentations on behalf the institution in public and civic settings as directed by the President / CEO.
Ensures compliance with best professional accounting standards, rules, regulations, and laws by directing, supervising, and facilitating the preparation and maintenance of required, appropriate and strategic financial records, monthly, quarterly, and annual financial reports, and all financial reporting required by federal, state, local and other regulatory agencies, including accrediting bodies.
Leads the design, implementation, and management of financial systems and related policies and processes needed to manage institutional accounts, revenue and expenditures as well as support the research, fiscal, and operational functions of the institution; reviews, approves, and oversees implementation of supporting systems software, hardware, and networks.
Leads planning and assessment processes for the Office of Financial Services, including assessment of each function and staff person in the unit.
Develops and manages budgets for the institution and performs periodic cost and productivity analyses. Administers business plans for project development and deployment. Directs the production of annual financial reports, audit activities, and other information reports and requests; ensures accuracy and integrity of financial reporting.
Manages the working relationships between university administration and principal business and operational stakeholders and vendors.
Provides direction and oversees the provision of assistance to campus constituencies regarding application and interpretation of accounting and restricted budgeting policies and procedures, implementation of new practices and procedures, and efficient control and utilization of financial resources.
Directs and collaborates with faculty and staff engaged in the development and execution of research contracts and grants, to streamline processes and procedures while maintaining and / or strengthening institutional compliance with grant requirements and Federal restricted accounting and reporting requirements.
Collaborates with leadership and administration to establish programmatic goals and priorities for business and technology solutions to meet institutional needs as well as to determine the training and development needs of staff in the utilization of such technology and maintenance of the institution's system of internal controls.
Researches, recommends. and oversees implementation of process and procedure changes based on university policy and procedure, federal legislation and directives, and changes to relevant current accounting practices.
Facilitates long-range fiscal planning and goal setting for the institution, particularly in the design and establishment of strategic financial services and reporting policies and practices.
Recommends and participates in the development of the university’s policies and procedures; may serve on university’s planning and policy-making committees.
Designs, establishes, and maintains an organizational structure and staffing to effectively accomplish the organization's goals and objectives; overseeing the management of personnel to include recruitment, training, supervision, and evaluation of unit staff.
Establishes and implements short- and long-range organizational goals, objectives, strategic plans, policies, and operating procedures; monitors and evaluates programmatic and operational effectiveness, and effects changes required for improvement.
Maintains currency of knowledge with respect to the university’s strategic directions and plans, and relevant state-of-the-art systems and technology.
Performs miscellaneous job-related duties as assigned.
Minimum Job Requirements :
A Bachelor degree in a relevant field of discipline is required; a Master’s degree in a relevant field or discipline is preferred.
At least 5 years of executive leadership experience working in higher education finance and accounting
CFO experience at a college, university or nonprofit preferred.
Knowledge, Skills and Abilities Required :
Ability to analyze and interpret financial data and prepare financial reports, statements and / or projections.
Ability to foster a cooperative work environment.
Ability to interpret business and operational needs and develop integrated, creative solutions.
Ability to supervise and train employees, to include organizing, prioritizing, and scheduling work assignments.
Advanced analytical, evaluative, and objective critical thinking skills.
Comprehensive knowledge and understanding of Federal and State financial laws, regulations, and operating guidelines as they pertain to public institutions of higher education.
Demonstrated organizational and management skills.
Employee development and performance management skills.
Knowledge and understanding of fiscal control systems and procedures related to the safeguarding of institutional funds.
Knowledge of current changes and / or developments in applicable federal, state, local laws, and university policies and procedures.
Skill in program planning, examining, and designing operations and procedures, formulating policy, and developing and implementing new strategies and procedures at an institution of higher education.
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