Vice President of Finance, Chief Financial Officer (CFO)

Job Description

About Wentworth

Wentworth Institute of Technology 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 is also a member of the Tuition Exchange, a reciprocal scholarship opportunity for the dependents of eligible faculty and staff at 645 member schools nationwide. 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.

Academics

Wentworth offers 23 undergraduate and 13 master's degree programs across five distinct Schools and through a variety of pathways : full-time, part-time, hybrid, and online. Wentworth also offers minors, dual graduate degrees, graduate certificates, and accelerated three-year undergraduate degrees along with 3 1, 4 1, and 4 2 undergraduate and graduate degree combinations.

Wentworth offers one of the nation's most comprehensive Cooperative Education (coop) programs. Undergraduate students at Wentworth are required to complete two coop semesters to graduate. During co-op, students gain hands-on experience and put the knowledge and skills they forge in the classroom into practice while still in school. By partnering with leading industry organizations, Wentworth's co-op program lets students find solutions to real-world problems while working in their chosen fields while fostering valuable professional connections that are crucial to success in the modern workforce. By integrating a hands-on approach into academics, in the classroom, and through coop, Wentworth prioritizes the long-term career success of our students. This close connection between academic experience and on-the-job proficiency directly translates to higher earnings and accelerated career growth.

Facilities

The 31-acre campus in the heart of Boston boasts a tree-lined quad, modern and traditional residence halls, diverse campus amenities, the Douglas D. Schumann Library & Learning Commons, multiple computer centers, a 24-hour police department, and numerous social activities. The campus also features 60 state of the art labs and studios including the Casella Robotics Laboratory, the state-of-the-art BOND Virtual Design and Construction Lab, and ample design studios. In fact, Wentworth has achieved an impressive 1 : 1 student-to-studio space ratio. In February 2024, Wentworth Institute of Technology announced a bold 10-year plan to dramatically transform its physical campus. The plan will create technologically advanced spaces for hands-on learning in preparation for STEM, design and management careers and double the public green spaces on campus, affirming Wentworth's commitment to sustainability and resiliency. Among the plan's highlights are new residence halls, a new athletics field house, as well as new and renovated academic spaces.

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 institutions 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

Working with the Finance and Audit Committees of the Board and Wentworth's external auditors, the CFO ensures the development and maintenance of a robust set of internal controls to support Wentworth's long-term financial viability as well as the development of annual financial statements that accurately reflect the financial condition of the institution in accordance with generally accepted accounting principles. Key responsibilities include :

• 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.

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. This role oversees accounting, accounts payable / receivable, purchasing and budget.

Campus Partner Collaboration

Minimum Qualifications

Preferred Qualifications

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.

To find out more about the Wentworth's commitment to Diversity, Equity and Inclusion, please visit the website https : / / wit.edu / about / diversity.

All applicants have the right to accessibility support and accommodations. To request accessibility support or accommodations, contact the Executive Director of Equity and Compliance, Catlin Wells, at wellsc1@wit.edu.

E-Verify for Employment Eligibility Verification ( Form I-9)

Wentworth participates in E-Verify. E-Verify is an internet-based system that compares information from your Form I-9 to records available to the U.S. Department of Homeland Security (DHS) and Social Security Administration (SSA) to confirm that you are authorized to work in the United States.