The senior director, chief financial officer at Augsburg University serves a key leadership role, contributing to the university's overall strategic and operational success. The CFO reports to the vice president and chief operating officer and collaborates directly with the president's leadership team in overseeing financial forecasting, planning, monitoring, and reporting. The position provides support to the board of regents, its finance and audit committees, and its facilities and investment subcommittees. The CFO provides oversight of the university's $50+ million endowment and $75 million annual operating budget and leads a team of 12 staff responsible for accounting, student accounts, risk management, purchasing, and outsourced services.
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 5-year financial model and strategic net tuition growth plans.
Foster a culture of budget management leadership, guide investment strategy, and oversee compliance with financial reporting requirements.
Coordinate agenda and materials preparation to support the board of regents' oversight of the ongoing financial health and sustainability of the university.
Provide strong leadership for the finance team, supporting professional growth and collaboration across the department.
Board of Regents Support:
In collaboration with university leadership, assist with the development of board agendas and materials, presenting on key topics to effectively communicate critical financial matters.
Periodically review and recommend modifications to board-approved financial policies.
Financial Reporting, Modeling, and Benchmarking:
Serve on the president's net tuition growth leadership team and on the cross-functional academic planning group assessing (non-curricular) feasibility and ROI for new program development.
Develop and manage the university's 5-year financial model and benchmarking reports to measure financial position and support the university's ongoing financial health and sustainability.
Monitor key financial ratios and revenue/expenditure drivers to support scenario development and inform decision-making, budget management, and planning efforts.
Student Accounts, Fundraising Financials, and Strategic Partnerships:
Oversee student account billing, collections, and student debt policies and practices.
Partner with academic and enrollment leadership to recommend annual tuition, fees, financial aid targets, and pricing for residential contracts and meal plans.
Forecast and report campaign and other fundraising expenditures and results.
Oversee purchasing and central services in establishing partner contracts for outsourced services that meet the goals and needs of the university.
Accounting and Internal Controls:
Ensure appropriate policies, procedures, and internal controls are communicated and implemented across campus, and support staff in researching and applying accounting rules in compliance with generally accepted accounting principles.
Develop and manage efficient processes for timely month- and year-end close processes, quarterly statement preparation, reconciliation of asset and liability accounts, and monitoring and analysis of designated and restricted expendable net asset balances.
Lead the financial risk management assessment process, including identifying and ranking risks and risk mitigation plans.
Treasury and Debt Management:
Monitor the university's debt portfolio and the investment of pooled cash not managed by the investment subcommittee, maintain banking relationships, oversee bank services and transactions, and ensure timely debt service payments and submission of compliance reports.
Prepare and present materials for annual surveillance and rating calls with rating agencies.
As appropriate, develop proposals for restructuring/refinancing debt and coordinate the work of finance, legal, and banking services advisors as part of debt issuance or refinancing processes.
Provide leadership and promote high quality standards for finance staff, including team members who are part of the shared services arrangement between Augsburg and Luther Seminary.
Hire and develop a cohesive, collaborative team equipped to partner across departments and maintain an institutional perspective. Ensure proper training, accountability and role alignment through goal setting, regular feedback, and performance management.
The successful candidate will have:
Bachelor's degree in business, accounting, finance or related field. Master's degree in business administration, public administration or other relevant field, preferred. Doctoral degree is a plus.
7-10 years of progressive financial management responsibility in higher education or similarly complex organization with at least 5 of those years in a finance leadership role.
Demonstrated competence in financial reporting and internal controls, development of financial and budget planning models, and benchmarking tools.
Proficiency with financial database management systems, reporting tools, ERP systems and Microsoft Office suite.
Strong written and oral communication skills. Demonstrated analytical skills and the ability to synthesize complex data for a variety of audiences.
Excellent interpersonal, organizational, and networking skills with a proven track record of building effective relationships across functional areas and with external and community partners.
Record of integrity, honesty, and trustworthiness; demonstrated ability to lead high-performance teams and to prioritize in a fast-paced environment with superb attention to detail.
Ability to work effectively in a diverse work environment.
Certified Public Accountant licensure (active or inactive) strongly preferred.
Augsburg University is an Affirmative Action/Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, creed, religion, gender, age, national origin, familial status, disability, veteran status, sexual orientation, gender identity, gender expression, marital status or public assistance status.
Review of application materials will begin in early January, 2020. Position will remain open until filled.
Augsburg University offers more than 50 undergraduate majors and nine graduate degrees to more than 3,500 students of diverse backgrounds. The student-faculty ratio is 13:1 and is characterized by strong teaching in small classes.
The University's Mission
Augsburg University educates 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.
Located in the heart of the Twin Cities, Augsburg’s main campus surrounds Murphy Square, the oldest park in Minneapolis. The University of Minnesota West Bank campus and the University of Minnesota Fairview Medical Center are across the street from Augsburg, with the Mississippi River and the Seven Corners theatre district just a few blocks away.
The 23-acre campus consists of a mix of historic and newer buildings that reflect the contemporary needs of the academic pr...ograms. Augsburg’s newest signature academic building, the Hagfors Center for Science, Business, and Religion, opened for classes January 8, 2018. In addition to its Minneapolis campus, Augsburg has a location in Rochester, Minnesota, and maintains international sites and staff in Mexico, Nicaragua, and Namibia.