Associate Vice President and Chief Financial Officer

Company Description

Augsburg University has maintained a strong academic reputation defined by excellence in the liberal arts and professional studies since 1869. A safe and welcoming campus in the heart of Minneapolis, Augsburg offers undergraduate and graduate degrees to nearly 3,200 diverse students.

Augsburg’s mission is to educate students to be informed citizens, thoughtful stewards, critical thinkers, and responsible leaders. The Augsburg experience is supported by an engaged community that is committed to intentional diversity in its life and work. An Augsburg education is defined by excellence in the liberal arts and professional studies, guided by the faith and values of the Lutheran church, and shaped by its urban and global settings.

Augsburg invites individuals who share our mission and commitment to intentional diversity, equity, inclusion and belonging to join our community.  In particular, Augsburg invites BIPOC, LGBTQIA+, individuals with disabilities, women, veterans and those from underrepresented or marginalized backgrounds are encouraged to apply. 

Job Description

Summary of Position

The Associate Vice President and Chief Financial Officer at Augsburg University serves a key leadership role, leading financial forecasting, planning, monitoring, and reporting to support the University’s overall strategic and operational success. The position also provides strategic financial leadership for Luther Seminary as part of a shared services agreement between Luther Seminary and Augsburg. The CFO reports to Augsburg’s Vice President and Chief Operating Officer, serves on the University President’s Leadership Team, and is the primary staff liaison to the Board of Regents’ Finance, Investment, and Audit committees. The CFO provides oversight of the university’s $70 million endowment and $75 million annual operating budget, leads a team of eight Augsburg staff responsible for accounting, financial planning and student accounts, and provides work direction for the Luther Seminary controller and business office personnel.

Primary Responsibilities

• Direct and oversee financial activities and controls, protecting and facilitating the growth of the University’s financial and capital assets.
• Collaborate with the President and executive leadership team to develop and monitor the University’s strategic net tuition growth plans and annual budget.
• Maintain and update financial models that analyze and track enrollment and net tuition revenue, non-tuition revenue, and expenses to update budgets and forecasts.
• Partner with academic and enrollment leadership to recommend annual tuition, fees, financial aid targets and pricing for residential contracts and meal plans.
• Collaborate with Institutional Advancement to help set fundraising priorities.
• Develop and monitor the University’s multi-year financial model and benchmarking reports to measure financial position and support the University’s ongoing financial health and sustainability.
• Foster a culture of budget management leadership, guide investment strategy, and oversee compliance with financial reporting requirements.
• Prepare and present financial updates and financial policy recommendations to the Board of Regents and the Board’s Finance Committee; collaborate with committee chairs to lead and facilitate Finance, Investment, and Audit committee meetings, including developing agendas, preparing minutes and materials.
• Manage the University’s debt portfolio and banking relationships; ensure timely debt service payments and compliance reporting. Prepare and present materials for annual surveillance and rating calls with rating agencies.
• Oversee and analyze monthly cash inflow and outflow results and project and manage future liquidity and line-of-credit borrowing needs.

Luther Seminary Services

• Provide regular financial reports for the Seminary’s executive leadership team, including risk and opportunity analyses related to initiatives or issued being addressed by the leadership team.
• Prepare and present financial updates to the Luther Seminary Finance Committee and to the Board of Regents/Board of Directors as a whole; lead Finance Committee meetings and distribute minutes and materials to committee members.
• Develop annual budget for review by leadership and formal approval from the board. Maintain a multi-year operational and financial projection that provides clarity about the financial outcomes of strategic decisions and initiatives.
• Manage the relationship with auditors, tax service providers, and banker representatives. Ensure appropriate compliance reporting.
• Serve as the primary point of contact for the Outsourced Chief Investment Officer to guide asset allocation, endowment spending, drawdown analyses, and other strategic matters.