Chief Financial Officer
Merrimack CollegeAbout the role
The Opportunity
The Vice President & Chief Financial Officer (CFO) will have responsibility for all aspects of financial management for a growing and expanding private large masters comprehensive university and for developing, improving and maintaining all of the financial systems and business procedures of the organization. The CFO will be expected to create and maintain systems and processes for managing all sources and uses of funds for Merrimack College.
The CFO will serve as a primary financial advisor and leader at Merrimack, in regards to creating an entrepreneurial environment for revenue growth and expenditures. The CFO will participate in managing organizational transformation and enhancing a high-demand, results-driven finance culture that positions leaders across the organization for success.
This role serves as the organization’s senior financial position and will provide leadership, management and supervision of eight employees across accounting, accounts payable/receivable, and purchasing. The CFO will advise senior management across the College in all matters pertaining to financial sustainability and strategy.
Critical to the success of the CFO are the following responsibilities:
Hire, manage and develop accounting and finance staff and provide cross-departmental collaboration to ensure that financial systems and solutions support the College’s ambitions.
Serve as the college chief investment manager, overseeing the endowment, restricted and temporarily restricted accounts, donor funds and their performance.
Work with the VP of Research on grants management and compliance and all related financial activities.
Establish and maintain sound financial policies, procedures, systems and controls for the organization to ensure that long term sustainability and multi-year financial planning remain at the forefront of the College’s fiscal strategy.
Manage and oversee all treasury functions, including but not limited to, investments, bonds, capital funds, operating cash, credit cards and other negotiable instruments.
Review, analyze and attest to the accuracy of monthly income statements, balance sheet, cash flow projection and variance reports.
Provide leadership and oversight of year-end audits, and financial statements to ensure clean financial audits with an unqualified opinion.
Provide leadership and oversight of the College’s compliance function assuring that the organization and each of its schools has the support to remain compliant with all authorizer, state and federal requirements.
Work closely with the President and the Vice President for Financial Planning + Analysis on budget development, long-term financial projections, pro forma planning, cost benefit analysis, program/unit performance.
Working closely with the Vice President, Financial Planning and Analysis, the EVP/Chancelor and the Vice President for Enrollment Management to oversee the annual budget process for the College.
Work closely with institutional leadership on projects, programs and initiatives for which there is a financial component. Such projects may include private-partnership projects, and third party vendor partnerships.
Provide the President and trustees 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 college’s financial position.
Deliver timely reports, including dashboards, to the President, EVP/Chancellor, Executive Leadership Team and Board of Trustees as needed.
The position will serve on the president’s executive council.
Candidate Profile
The CFO of Merrimack College will have the following professional and personal skills, qualities, and characteristics:
Financial Expertise & Fiscal Strategy
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.
Bachelor’s Degree is required, CPA preferred. MBA or similar masters degree (MPA, MS, M.Acct) can be in lieu of the years expected for executive level experience.
Demonstrate a keen adherence to financial oversight while remaining results-focused, adept at translating Merrimack’s overarching vision and strategy into a concise financial blueprint with measurable milestones.
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