Business Officer

The Chief Business Officer (CBO) provides overall leadership and support of the financial and administrative operations of assigned Provost and Vice Provost areas, directly assisting and supporting operational leads and serving as a member of the Financial Operations and Planning team, reporting to the Director of Finance, Provost Central, under the leadership and guidance of the Assistant Vice Chancellor for Finance. The CBO is responsible for the finance function, including daily operations, developing monthly financial projections, and preparing annual and long-range operating and capital budgets. The CBO interfaces with a wide constituency of partners across the institution in the financial management of, and planning for, the strategic use of funds. This individual leads a team of professional and administrative support staff and is responsible for developing goals, objectives, policies and procedures; supervising, coordinating, and evaluating activities; and performing personnel-related and administrative functions.

This role must be responsive to the needs of the Vice Provosts and other leaders overseeing the assigned areas. Vanderbilt University and the department of Financial Operations and Planning are committed to excellence and diversity. Members of underrepresented groups are invited to apply.

About the Work Unit:

Financial Operations and Planning provides leadership and support of financial and business operations to the Vice Chancellors, Academic Deans, and Vice Provosts. This team is also responsible for developing annual and long-range operating and capital plans, performing financial analyses and financial modeling, generating management reports, and supporting ad hoc strategic financial projects, consistent with a broad understanding of institutional mission and vision.

Key Functions and Expected Performance:

Fiscal Oversight

• Serve as the primary business advisor to the Vice Provosts and other leaders.
• Act as the financial liaison for the assigned areas to the Financial Operations and Planning team.
• Develop annual and long-range capital and operating budgets, which adhere to University and area priorities based on balanced assumptions.
• Develop financial and operational models that respond to new circumstances, allow for informed decision making, and maximize area and University resources.
• Proactively assess ongoing area activities to determine realistic financial projections compared to the annual budget and determine where additional resources could be invested or redirected, consistent with the University’s strategic initiatives.
• Prepare and review monthly financial reports to identify trends and update expectations.
• Implement and facilitate strategic initiatives on behalf of the University and assigned areas.
• Produce, organize, and present information to succinctly and effectively provide financial management information.
• Interpret information provided by others and advise how the information or request aligns or differs with area and University strategies and financial plans.
• Focus on attaining and sustaining long-term financial equilibrium and evaluate all proposals against this objective.
• Review area resource portfolios and suggest prudent alternatives to achieve planned or desired outcomes.
• Closely collaborate with key constituents to leverage opportunities and goals.
• Coordinate, review and submit annual salary increases for faculty and staff as assigned.

Internal Controls and Control Environment

• Understand, educate, and enforce University policies and procedures.
• Develop, implement, and maintain departmental procedures, protocols and internal controls.
• Advocate for best practices in management policies, and implement and maintain effective internal controls (as guided by internal audit and leadership recommendations) for fiscal activities throughout the areas.
• Assist in cultivating a culture where faculty and staff throughout the University understand their individual fiduciary roles and responsibilities.
• Exercise delegated authority with prudent assessment of individual transactions (as guided by internal policies), considering the impact financially and operationally, mindful of internal controls as defined by the University and assigned areas.
• Design, establish and maintain an administrative organizational structure to effectively and efficiently accomplish area and University goals and objectives while segregating duties and mitigating risk.

General

• Develop a productive and effective working relationship with leaders across the University by actively seeking out opportunities to collaborate.
• Promote a unified view of the University’s interests and align departments to work toward common financial goals.
• Continuously monitor and make recommendations to improve University-wide processes.
• Function as a technical expert within the assigned areas on budgetary, financial, accounting, operational, personnel, regulatory, and policy issues.
• Update job and industry knowledge by participating in educational opportunities, reading professional journals and maintaining professional networks.
• Advocate for change within assigned areas by assisting the University with the successful implementation of new financial and administrative procedures and systems.
• Serve as a primary point of contact for problem resolution.
• Represent assigned areas and Finance on various University committees, provide insightful and diplomatic feedback to the committees, and communicate updates to the areas and other constituents within the University, as appropriate.
• Recruit, develop, and retain a talented and diverse team.
• Supervise, evaluate performance, and develop professional development plans for direct reports.

Supervisory Relationships:

This position has supervisory responsibility for Administrative Officers supporting the assigned areas. This position reports administratively and functionally to the Director of Finance, Provost Central.