Vice President for Business and Finance

Elmhurst University

United States, Illinois, Elmhurst

190 South Prospect Avenue (Show on map)

Dec 12, 2024

Posting Text

Posting Number	S00605P
Position Status	Exempt
Reporting Relationship(s)	President
Supervisory Relationships
Job Summary	Reporting directly to the president and serving on the president's cabinet, the vice president for business and finance will serve as the chief financial officer for the university and is responsible for the direction of all financial functions and oversees revenues, costs, capital expenditures, investments and debt. This position also oversees student financial aid, risk management, campus public safety, and certain contract service relationships. The vice president will work collaboratively with all university constituencies, providing ongoing communication, education, and knowledge of the university's financial objectives, conditions, and strategies while promoting a strong culture of service. This position supervises the assistant vice president for business and finance, senior director of student financial services, executive director of public safety, grants coordinator, dining services partner, bookstore partner, and an executive assistant and requires daily on-campus presence. Elmhurst University continues to develop as an exemplary, student-centered and innovative liberal arts institution. The students are engaging; the faculty and staff are talented and dedicated to excellence; the alums see great potential in their alma mater; the city of Elmhurst is a strong partner and eager to grow with the university; and the Board of Trustees provides important counsel and growing financial support. The vice president for business and finance will join Elmhurst University at a dynamic and vibrant time. Under the leadership of its 14th President, Dr. Troy D. VanAken, the university has celebrated several remarkable milestones in the past few years, including its 150th anniversary, officially becoming a university, record-setting enrollments, continued growth of the endowment, and the recent completion of the largest comprehensive fundraising campaign in institutional history. In transitioning to Elmhurst University, the vice president for business and finance will encounter the following additional opportunities, priorities, and challenges, as shared by key campus stakeholders: The successful candidate will benefit from working for a university that has seen enrollment increase at record highs, has experienced significant growth within the endowment, and through strong leadership and effective stewardship of resources, has attained $100 million in operating surpluses over the past eight to ten years. This position must be capable of building on the financial successes of the university, while effectively adding value in investment and surplus management. The ideal candidate must come prepared to continue to modernize the financial systems of the university, including the development of a multi-year pro forma forecasting tool.
Salary Range
Essential Functions	Oversees the university's financials and related functions including financial management and planning, accounting, procurement, budgeting, auditing, financial aid administration, application of internal controls, and investment management. Provides ongoing management, mentorship, professional development, and training in all assigned areas and leads a division that delivers quality services to students, employees, and other constituencies. Establishes a culture of strong customer service in assigned areas and advocates for students and employees. Manages the university's investments, endowment, and spending practices with an emphasis on strong stewardship of funds. Directs the budgeting process effectively to establish sound operating and capital budgets and develops and maintains a five-year financial planning model for use by administration and the Board of Trustees. Oversees the university's public safety office, and manages third-party service contracts for the bookstore, food services, and other vendors as assigned. Maintains effective communication with the president, cabinet, and administration to ensure that financial information is available to them on a timely basis and in an easily understood and useful format. Provides regular and timely support to the president and ensures he is prepared to communicate accurately about all business-related and financial matters. Serves as a primary financial communicator to the Board of Trustees, employees, students, alums, parents, donors, and other appropriate contacts. Presents and serves as a liaison to the audit, business and finance, risk management, and investment Board of Trustees committees. Ensures that business and financial policies, procedures, and controls serve the needs of the university and are understood. Obtains long and short-term financing as may be necessary to meet the financial requirements of the university. Establishes procedures for accounting and maintenance of records for all federal grants and appropriations and prepares data for all required reports. Partners with human resources to manage employee compensation and benefits budgets and retirement and group health plan costs. Manages purchasing and secures competitive bids for all contracted services. Facilitates strategic partnerships to develop alternate revenue streams. Oversees the development and administration of a comprehensive University protection and loss prevention program. Serves as a primary contact for the university's insurance providers and acts as a compliance officer for issues affecting the university as a whole. Serves as a liaison to the university's outside legal counsel. Maintains an active and visible presence on campus.
Other Duties and Responsibilities	Demonstrates a strong commitment to continuous improvement and organizational change and development. Supports the university's mission, vision and values. Performs other duties as assigned.
Minimum Qualifications	A master's degree in a finance-related field or an MBA, and at least seven years of progressively responsible financial management experience. Ability to work collegially with cabinet peers and colleagues and build internal and external relationships with constituents from diverse backgrounds. Demonstrated success as an inspirational team builder and leader, experience emphasizing collaboration, transparency, consensus building, conflict resolution and problem solving, and confidence and skill in making presentations to boards and other stakeholders. Intention to bring long-term commitment and dedication to the university. Ability to maintain confidentiality at the highest level.
Preferred Qualifications	Five years of related management experience in higher education and a CMA, CPA, or other advanced financial or accounting certification.
Working Conditions/Physical Requirements	Employee is primarily subject to indoor work, protected from weather conditions. Work is sometimes, but not always sedentary in nature and involves exerting up to 10 lbs. of force occasionally and/or a negligible amount of force frequently/constantly in order to lift, carry, push, pull or otherwise move objects.
Work Hours
Posting Date	12/11/2024
Closing Date
Open Until Filled	Yes
Special Instructions to Applicants	Spelman Johnson is assisting the university in developing a pool of candidates. Inquiries, nominations, and applications may be directed in confidence to Jim Prince with Spelman Johnson using the link below. The review of applications will begin January 20, 2025, and continue until the position is filled. Elmhurst University Vice President for Business and Finance Elmhurst University is a leading four-year institution of higher education that seamlessly blends a liberal arts education and professional preparation to help students acquire knowledge and skills for enduring success. Founded in 1871, Elmhurst now offers more than 70 undergraduate programs of study; more than 20 master's, doctoral and certificate programs in flexible formats; and the Elmhurst Learning and Success Academy for young adults with differing abilities. Elmhurst University ranks among the top 10 best regional colleges and universities in the Midwest, according to U.S. News & World Report, and has been recently ranked as the top school in the Midwest for veterans. The campus is a 48-acre oasis: a nationally recognized arboretum nestled in a vibrant suburb that is located just 30 minutes from downtown Chicago and is easily accessible via Metra rail and other public transportation. Elmhurst's diverse student population, alumni base, and faculty and staff form a caring community that enables students to excel academically and in careers through supportive experiences. With an enrollment of more than 3,800 students, the university boasts a student-faculty ratio of just 13:1. The alumni community of more than 40,000 is filled with passionate "Bluejay backers" who take pride in the institution and wish to see it thrive. Inspired by the university's mission to make meaningful contributions to their local and larger communities, the students, faculty and staff thrive as adaptive leaders. Elmhurst University prohibits discrimination and harassment of any type and affords equal employment opportunities to employees and applicants without regard to race, color, national origin, gender, sexual orientation, religion, age, creed, ancestry, veteran status, marital status, disability, or any other characteristic protected by law. Diverse and traditionally underrepresented candidates are encouraged to apply.