December 3, 2022

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Vice President of Finance and Administration job with Northwood University

Northwood University’s Vice President for Finance and
Administration (VPFA) serves as the University’s chief financial
and business officer, with responsibility for establishing and
maintaining financial infrastructure, policies and practices needed
to ensure the financial integrity of the institution and for
bringing expert and creative thinking to the challenges of
maintaining a sustainable financial model. The VPFA provides
effective finance and administrative leadership, analysis, and
support to the President and Board of Trustees. Additionally, the
VPFA directs and manages all of the University’s business and
administrative functions. S/he is the staff liaison to the Finance
& Audit Committee and the Investment Committee, and serves the
Northwood Board of Trustees as Treasurer and Secretary.

 

About Northwood University

On March 23, 1959, two young men with an idea, a goal, and a
pragmatic philosophy to encompass it all, broke away from their
careers in a traditional university structure to create a new
concept in education.

Dr. Arthur E. Turner and Dr. R. Gary Stauffer envisioned a new
type of university – one where the teaching of management led the
way.

Time has validated the success of what these two young educators
called “The Northwood Idea” – incorporating the lessons of the
American free-enterprise society into the university classroom.

Over the decades, the University grew and matured. Academic
curricula expanded; Northwood went from being an Institute to an
accredited University, the DeVos Graduate School of Management was
created and then expanded; the Adult Degree Program and its program
centers expanded to over 20 locations in eight states;
international program centers were formed in Malaysia, People’s
Republic of China, Sri Lanka, and Switzerland; and significant
construction like the campus Student Life Centers added value to
the Northwood students’ experience. New endeavors such as
Aftermarket Studies, entertainment and sports management and
fashion merchandising, along with a campus partnership in Montreux,
Switzerland, demonstrate an enriched experience for all our
students.

With a clearly articulated mission to develop free-enterprise
leaders who drive global economic and social progress, Northwood
University is expanding its presence in national and international
venues. Professors are engaged in economic and policy dialogue;
students are emerging as champions in regional and national
academic competitions. At all campuses and in all divisions,
Northwood University is energized and is actively pursuing dynamic
programming and increased influence.

Northwood University educates managers and entrepreneurs –
highly skilled and ethical leaders. By 2026 we will serve more than
8,000 students and operate in 10 countries. With more than 57,000
alumni and a vibrant future ahead, The Northwood Idea is alive and
well.

Northwood University revenue is limited to tuition, business
operations and philanthropy. This sets Northwood University
apart from competitors, many of who seek state and federal funding
and take on debt as they pursue goals. Northwood has no debt and
fully funds capital projects before they are put into action.

This ambitious approach requires the university to be efficient
and proactive in managing resources and evolving programming as the
university moves forward into the future. Northwood manages a
healthy tuition discount rate to keep the institution in a strong
financial position.

At Northwood University, we believe in individual freedom and
responsibility, moral law, ethical and limited government, earned
success and the importance of creativity, free enterprise and
entrepreneurship as the foundation of individual and human
progress. We seek an entrepreneurial Vice President, Finance and
Administration to embrace and promote the philosophy of the
University and its commitment to the American free-enterprise
system when conducting business on behalf of the University.
Applicants are encouraged to familiarize themselves with the
University’s outcomes at http://www.northwood.edu/aboutus/

LOCATION: Midland, Michigan

REPORTS TO: University President

POSITION SUMMARY:

Northwood University’s Vice President for Finance and
Administration (VPFA) serves as the University’s chief financial
and business officer, with responsibility for establishing and
maintaining financial infrastructure, policies and practices needed
to ensure the financial integrity of the institution and for
bringing expert and creative thinking to the challenges of
maintaining a sustainable financial model. The VPFA provides
effective finance and administrative leadership, analysis, and
support to the President and Board of Trustees. Additionally, the
VPFA directs and manages all of the University’s business and
administrative functions. S/he is the staff liaison to the Finance
& Audit Committee and the Investment Committee, and serves the
Northwood Board of Trustees as Treasurer and Secretary.

The VPFA leads and provides direction and oversight to various
areas of responsibility related to finance and administration
including: accounting services, including accounts payable and
accounts receivable; purchasing; payroll; financial aid; financial
budgeting, planning and analysis; information technology; various
treasury functions including investments, cash flow and operating
reserve management, and debt management; risk management and
insurance; legal affairs, tax, and government compliance; real
estate construction and facilities planning.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES:

The VPFA must be able to perform the following functions:

• Advise the President and other administrators regarding the
financial operations of the University including direct
administration of the development and implementation of the annual
budget, including appropriate analysis of issues affecting revenue
and/or expenditures, preparation of long-range budget forecasts,
administration of budget process, and recommend budget amendments
as necessary through the course of each fiscal year. Oversee
Responsibility Center Management (RCM) budgeting [and reporting of
objectives and key results (OKRs)].

• Review and make recommendations for new and/or revised
policies related to university finances and administrative
services, including, but not limited to financial policy and
related procedures.

• Oversee the development and preparation of all monthly and
annual financial reports for the President of the University and
the Board of Trustees and other reports as required. Present and
discuss monthly financial statements at executive meetings, board
meetings, committee meetings and other stakeholders as designated
by the President.

• Coordinate the annual audit, including supplying auditors with
all necessary information.

• Oversee university funds including daily monitoring,
forecasting, investments of funds, and monitoring of pledged
collateral. Administer purchasing and investment policies and
recommend changes as necessary.

• Maintain a system of internal controls that ensures the
University’s assets are adequately safeguarded and financial
reporting is in compliance with Generally Accepted Accounting
Principles (GAAP).

• Ensure compliance with all applicable federal, state, and
local laws.

• Provide leadership/strategic direction regarding development
of campus, facilities, and grounds, including the development and
continued oversight of deferred maintenance list, with annual
presentation to the President of projects recommended for funding
and long-range strategies for addressing deferred capital
needs.

• Review, negotiate, and/or monitor execution of contracts for
services including all leases entered by the university; develop
and present recommendations for annual renewal of leases.

• Serve as liaison with legal counsel to obtain guidance and
assistance with various legal matters as needed. Monitor status and
outcomes of legal actions involving the university.

• Coordinate all large construction and maintenance projects.
Oversight includes preparing RFP, reviewing bids, contractor
selection, monitoring progress, and processing payment applications
for the project.

• Establish annual targets and achieve annual growth net
revenues to support university operations.

• Lead the development of annual changes to the schedule of
tuition and fees; develop and present annual recommendation to the
President.

• Annually prepare Composite Financial Index (CFI) for the
Higher Learning Commission, analyze and evaluate factors impacting
the ratio, prepare and present to the President recommendations for
increasing the CFI.

• Oversee institutional risk management policy and procedures
including the review and recommendation of appropriate insurance
coverage (casualty, liability, and other coverages, excluding
employee benefits) on behalf of the university.

• Represent the University as an active participant in
organizations of chief financial officers of universities in
Michigan (MICU et al).

• Actively represent the university in civic and community
events, as designated by the President.

• Ensure that all activities are conducted within the
established guidelines of the Family Educational Rights and Privacy
Act (FERPA).

EXPERIENCES, CAPABILITIES AND ATTRIBUTES:

• A strong leader and confident listener and communicator who
brings integrity, a calm presence, patience and the ability to
build consensus and engender trust.

• Unquestioned personal integrity and a high degree of
leadership skills and abilities, including decisiveness, the
ability to motivate and to foster accountability, excellent
judgment, and the desire and ability to get things done.

• A sense of humor.

• Supervisory skills, particularly leading a team of
professional staff.

• Evidence of collaborative leadership; ability to manage
interpersonal conflict situations requiring tact, diplomacy and
discretion; ability to establish and maintain effective working
relationships with faculty, staff, other departments, students, and
the public; well-developed public speaking and presentation
skills.

• Excellent oral and written communication skills to convey
ideas, facts, and information effectively and accurately to
students, staff, faculty, and the general public.

• Demonstrated knowledge of and skills in accounting, cash flow
management, investment of funds, budget preparation and management,
both long-and short-term institutional financial planning, and
budget projections.

• Strong ability to apply principles of logical thinking to
define problems, collect data, establish facts, and draw valid
conclusions.

• Excellent analytical skills, particularly regarding
budget/finance, risk analysis, compensation and benefits.

• Familiarity and comfort with technology for business and
financial operations.

• Knowledge of Ellucian Colleague desirable.

 

EDUCATION, EXPERIENCE, and LICENSES/CERTIFICATIONS:

• Certified Public Accountant

• Master’s Degree in business, finance, accounting or related
field

• Minimum five years of experience as a senior financial and
administrative officer.

• Minimum ten years accounting and/or finance management
experience, with emphasis in the areas of budget development,
reporting and control, and financial administration.

• Private not-for-profit higher education experience preferred.
Experience in organizations of public higher education, other
non-profit organizations, or for-profit corporations is also
suitable.

• Experience with other Finance areas of responsibility listed
above preferred.

Applicants should apply at https://www.northwood.edu/jobs 

Qualified applicants will receive a Leadership Profile for
further information.

https://jobs.chronicle.com/job/416451/vice-president-of-finance-and-administration