Chief Financial Officer (CFO) & Vice President of Business Operations
Essex County College
March 12, 2018
Newark, New Jersey
Higher Education Institution
ESSEX COUNTY COLLEGE
TITLE: VICE PRESIDENT OF BUSINESS OPERATIONS AND CHIEF FINANCIAL OFFICER (CFO)
CLASSIFICATION: Administrative (Confidential)
AREA AND FUNCTION: Under the supervision of the College President, the VP of Business Operations and Chief Financial Officer is responsible for providing vision, leadership, oversight and sound fiscal management for the financial and organizational operations of the College.
CHARACTERISTICS, DUTIES AND RESPONSIBILITIES:
Provide oversight and direction for the planning, organization and leadership of the College’s Accounting, Bookstore, Bursar, Fiscal Operations (includes Accounts Payable and Payroll), and Purchasing financial units. Establish goals, objectives, policies, procedures and action plans that are consistent with the College’s strategic plan.
Responsible for the development of financial strategies for the College and contributing to the organization’s strategic goals. Ensure that the College is adhering to all strategic plans by overseeing all activities and providing analytical status reports.
Effectively communicate and present critical financial matters at select Board of Trustees and committee meetings. Maintain continuous lines of communication, keeping the College President informed of all critical matters.
Responsible for assessment of current policies/procedures related to operations and finance; developing and implementing enhanced policies/procedures in both the finance and general operations realms.
Manage the day-to-day financial and business operations related activities of the College. Provide oversight and supervision for the operating, capital and grants budgets and budget models; allocation, disbursement and control of fiscal resources; chart of accounts; account reconciliations; year-end closings; tax filings; audit preparations; accounts receivables; accounts payables; student financial aid and accounting; grant accounting; preparation of financial statements and reports; cash receipts; preparation of revenue projections and risk assessments; and other related fiscal activities.
Responsible for annual audit(s), ensuring that applicable timelines are met. Coordinates and manages the external audit process and insures the proper application of internal control process.
Devise rules and procedures to enhance operational efficiency of the College’s Banner financial software. Determine and develop guidelines for successful and timely completion of annual and periodic financial audits and ensure compliance with prescribed guidelines by improving reporting capabilities.
Collaboratively work with other units of the College to design a comprehensive procurement plan for the efficient and economic delivery and payment of goods and services, in compliance with College and statutory mandates.
Develop, implement and maintain internal controls and financial reporting policies, standards and procedures that assure the fiscal, payroll and procurement practices comply with external rules, regulations and restrictions and generally accepted accounting principles.
Lead staff in development of annual operating and capital budgets. Maintain multi-year budget models, which are aligned with and support the College’s strategic priorities.
Oversee, direct and organize the work of the finance and operations teams, while promoting a culture of high performance and continuous improvement.
Establish and monitor staff performance and development goals, set objectives, establish priorities, conduct frequent coaching and annual performance appraisals.
Ensure compliance with Board of Trustees’ policies; college, county, state and federal regulations; generally accepted accounting principles (GAAP); and other statutory requirements.
Serve as the College’s finance and business operations liaison on the Affinity Council and other related groups.
Handle and/or manage sensitive information and adhere to strict confidentiality at all times and enforce the same behaviors by employees of the College.
Maintain strict confidentiality and security of staff, student, and client records.
Prepare routine, special, and ancillary reports as required.
Perform other related duties as required.
SUPERVISION RECEIVED AND GIVEN:
Oral and written instructions are received from the College President or designee. The Vice President of Business Operations and Chief Financial Officer will supervise and develop administrative, professional and support staff, and student workers.
MINIMUM ACCEPTABLE QUALIFICATIONS:
Master’s degree in business administration, accounting finance or related field.
Certified Public Accountant (CPA) preferred.
Five or more years of progressive management experience in financial planning or budget management and business operations at the senior management level, preferably in higher education.
Substantive evidence of success in overseeing an entity’s budget planning processes with expertise in the preparation of complex, detailed financial and budgetary analyses.
Comprehensive knowledge of financial, investment, statutory and Internal Revenue Service mandates, plans and funding formulas, institutional Master Plans, preferably applicable to higher education at the community college level.
Demonstrated knowledge of budget and technology models that link resource allocation performance and strategic planning.
Demonstrated skills in the supervision of multiple complex units with the proven ability to effect and influence change through a collaborative and inclusive approach.
Proven ability to provide vision and leadership in matters pertaining to financial and operations affairs; and effectively represent an educational institution with external constituents.
Excellent analytical, problem solving, decision making, organizational, leadership and interpersonal skills; and outstanding oral and written communication skills.
Ability to work in a multi-cultural environment.
ADDITIONAL DESIRABLE QUALIFICATIONS:
Doctorate degree in Business Administration, or related area.
About Essex County College
Essex County College is an open-door public access community college that is committed to providing quality educational programs and life-long learning opportunities at a very affordable cost. The College is open to students with a wide variety of backgrounds and abilities. We take pride in the richness of our diversity and our nurturing atmosphere, which encourages students who might not otherwise aspire to higher education to enroll and excel.