Executive Vice President (EVP) and/or Chief Financial Officer (CFO) at Clark University in Worcester, Massachusetts

Job Description:

Clark University

Location: Worcester, MA Category: Staff and Administrators Posted On: Tue Nov 26 2024 Job Description:

Reporting to the president, the Executive Vice President and Chief Financial Officer (EVP) is a key member of the president's senior leadership team and works closely and directly with colleagues responsible for both the academics and operations of Clark University. The EVP will staff the Audit and Strategic Risk, Finance, and Investment committees of Clark's Board of Trustees, and working in close collaboration with the Investment Committee will oversee investment activities and an outsourced chief investment officer (OCIO) model. The EVP will also oversee management of the University's 403B pension plan. The EVP will participate in many ongoing and ad hoc committees and working groups across the campus and in the community. At the outset, the EVP will lead a staff of approximately 96 employees with responsibility for budgeting; business services; controller and treasury functions; human resources; information technology, risk assessment and management; investments; and compliance. Direct reports to the EVP will be the chief budget officer, the vice president for information technology, the assistant treasurer/controller, the chief human resources officer, the chief of university police, the Title IX coordinator, the director of legal insurance operations and institutional policy, and director of risk management. The EVP will also manage and serve as the primary point of contact with retained outside legal counsel. The EVP will play a key leadership role in the development of the University's annual operating and capital budgets. In addition, managing debt management and strategy, and relationships with financial institutions, investment bankers, rating agencies, and auditors will be critical roles for the new EVP.

KEY OPPORTUNITIES + CHALLENGES
Balancing strategic investments with long-term sustainability will be the essential charge for the new EVP. This will require strategic alignment and skillful management of Clark's human, financial, and physical resources to optimize institutional capacity to support academic priorities and initiatives to enhance the student experience. It is in this context that the primary opportunities and challenges for the EVP will include the following:

Lead financial strategy, analysis, and planning aligned with academic mission and institutional priorities
Employing sound, yet creative fiscal management and strategy, the EVP will be charged with identifying the resources to fund the university's ongoing priorities. Applying sophisticated knowledge of, and best practices in integrated budget management and strategic planning, the new EVP will ensure that Clark's overall financial model remains sound. Serving as the University's primary financial advisor, the EVP will provide technical advice and counsel to the president, provost, and other key stakeholders, and will translate challenges into priorities and action. Clark will benefit greatly from a results-oriented, resourceful EVP who understands that carefully considered risk and investments are essential for an institution like Clark to thrive in an increasingly competitive higher education environment.

Identify resources to support capital investments in the campus and its facilities
Clark's historical investments in its facilities have been relatively conservative, with incremental pursuit of smaller capital projects and in addressing deferred maintenance. Over the past several years, Clark has implemented more ambitious capital budgets and reinvestment in its plant to address some more significant near-term needs. Clark expects to make more significant capital investment in its facilities to continue to attract students and support enrollment growth. The EVP will play a central role in developing a financial strategy to support this plan.

Advocate for and support a robust, technologically advanced campus
The new EVP will understand and embrace technology as a means for delivering a better educational program and for running essential operations of the University efficiently and effectively. The EVP must prioritize investments in technology to ensure that faculty, staff, and students have access to and benefit from the use of the latest and most important technological advancements. The new EVP will facilitate development of a holistic, well-integrated finance and IT strategy and plan that will serve as a road map for ongoing investments in Clark's technology infrastructure and strategy.

Effectively communicate financial information and decisions to the Clark community
Clark leadership, faculty, and staff will welcome an EVP who is transparent and forthcoming in communicating complex financial information in accessible terms, and in sharing the rationale behind critical financial decisions. Providing a broad sense of the scope of considerations that have gone into decisions will make even disappointing determinations better understood and ultimately more palatable.

Develop relationships of trust, confidence, and respect with colleagues throughout the Clark community and with stakeholders beyond the campus
Clark is a highly relational institution and there is an expectation that leadership, including the EVP, will be visible and accessible members of the community. Clark's small size allows people to know each other personally and there is a coherence and shared sense of purpose that is integral to its culture. To succeed in this environment, the new EVP must develop strong working relationships across the University among the senior leadership team and with administrators, deans, faculty, and students. In all these interactions, the EVP must convey professional expertise and a respect for the academic culture and a deep commitment to protect and advance Clark's interests. The new EVP will need to circulate widely to learn more about current challenges, potential concerns, long-held beliefs, best practices, and opportunities for improvement. The EVP must respond to the needs of individual colleagues and units while keeping a high level and comprehensive perspective on issues that affect the entire institution.

Deepen the sense of community and commitment to diversity and inclusion at Clark
Clark has a long history of supporting and ensuring a diverse and inclusive environment and has invested in programs and services to advance this commitment. The next EVP will bring an understanding of the unwavering commitment to the ways in which diversity, in the broadest sense, strengthens and deepens the education of Clark students and enhances the climate for all members of the Clark community. The EVP will play an important leadership role, including working in close collaboration with the University's Chief Diversity Officer, helping Clark become an even more inclusive, safe, and welcoming community for students, faculty, and staff, and the Main South neighborhood.

Lead and support talented administrators and staff
The EVP will oversee a dedicated group of finance and administration senior managers and staff who look forward to having the support of a new leader who will empower them and invest in their professional development. The EVP will encourage innovation and new ways of thinking. A commitment to open communication, transparency, and cross-functional interaction, and fostering a culture that places a high value on teamwork, will serve to enhance overall effectiveness and a shared sense of purpose in providing high-quality service to the Clark community. Ensuring that roles and expectations are well articulated and understood, and working collaboratively with the leadership team to develop metrics for assessing operational efficiency and effectiveness, will provide valuable information to measure performance and strengthen accountability. The new EVP will review the organizational structure and staffing of the finance and operations areas to ensure that they have the capacity to effectively support the University.

Ensure that Clark attracts and retains high-performing staff across the institution
With the many institutions of higher learning and a rapidly growing health care sector in the greater Worcester area, the competition for recruiting and retaining staff is a challenge. The new EVP will work closely with the Chief Human Resources Officer to identify roles and areas with high turnover, review staffing levels, and develop creative strategies for streamlining processes and filling vacancies in a timely manner. Supporting initiatives that promote professional development and advancement opportunities and looking closely at Clark's compensation philosophy and structures to ensure they are competitive, will be integral to Clark's comprehensive talent management strategy.

Enhance Clark's visibility and impact beyond its campus
Clark's commitment to and engagement with its neighborhood and broader Worcester community is deeply embedded in its ethos, mission, and values. Accordingly, as a senior leader, the new EVP will be a visible and active participant in University activities beyond the Clark campus. Ensuring a positive, mutually beneficial relationship with the Main South Community Development Corporation is critical to the life of the University.

Job Requirements:

Clark seeks the best candidates nationally. All candidates will bring unimpeachable integrity and a strong ethical compass, and demonstrated commitment to ensuring a diverse, equitable, and inclusive environment. In addition, the selected candidate will bring many of the following professional qualifications, skills, experience, and personal qualities:

• Ten (10) or more years of relevant experience and proven effectiveness leading in a comparably complex higher education setting, ideally including experience at an institution with external research funding;
• Proven financial and administrative leadership skills; financial acumen; and knowledge of, if not expertise in key functional areas, including budgeting and planning, controller and treasury functions, human resources, and information technology;
• Experience assessing and overseeing enterprise risks and ensuring a strong compliance culture; sophisticated understanding of investments and investment strategy, and experience with advanced techniques and tools for scenario planning and analysis; and a strong understanding of debt management and strategy;
• Demonstrated capacity to communicate broadly across an institution; outstanding oral and written communication skills; and the ability to convey and teach technically complex information and concepts in accessible terms to a broad array of stakeholders;
• A team player with outstanding collaboration skills; strong interpersonal and diplomacy skills; superb listening and influencing skills; the ability to cultivate and sustain trust and credibility with colleagues, and to build unity around difficult issues; an active listener, facilitator, convener, and mediator;
• A track record of success leading and managing others: demonstrated ability to manage, empower, and support staff and a commitment to their professional development; an effective delegator; ability to define and implement effective management structures and systems, establish and uphold high performance standards, and sustain a culture defined by excellence and responsiveness;
• An appreciation for the vital role an institution of higher learning can play in the community beyond its campus, and an appetite to be an active participant in identifying and delivering on opportunities for the university to have positive impact on the city;
• A liveliness of intellect and a commitment to engage collaboratively with and be accessible to administrative colleagues, faculty, staff, students, and community members, and to respond effectively to their needs and concerns;
• A deep appreciation for and sophisticated understanding of an institution of higher learning's missions and an eagerness to serve as a careful steward of its resources;
• A strategic and creative problem solver with the ability to make difficult decisions and stand by them;
• Maturity, sound judgment, presence, resilience, optimism, and good humor;
• An MBA or other relevant advanced degree is strongly preferred.

Additional Information:

As of June 1, 2023 Clark University no longer requires employees or students to be vaccinated against COVID-19. However, Clark urges all community members to follow CDC guidelines for COVID-19 vaccination, which recommend that everyone stay up to date with COVID-19 vaccines including booster doses. This is important for your own personal health as well as the health of our community.

At Clark University, we are dedicated to building a workplace that celebrates diversity and fosters inclusion. We believe that diversity of experiences, perspectives, and backgrounds leads to a more innovative and productive work environment. Our commitment to diversity, equity, and inclusion is reflected in our hiring practices, employee development programs, and campus culture. We welcome and encourage individuals of all backgrounds to join our team and contribute their unique ideas to help us achieve our goals.

Clark University offers a generous benefit package for full and, if applicable, part-time employees that include; paid time off, generous retirement plan, group health and dental insurance, life insurance, and tuition, along with use of many campus amenities. For a complete list of benefits for eligible employees visit here.

To review the Clark University Police Department Annual Security and Fire Safety Report visit here.

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