Chief Financial Officer

The Chief Financial Officer (CFO) is responsible for leadership and oversight of the Department’s Budget and Accounting Division, including the Department budget, collaboration with the Governor’s Office of State Planning and Budgeting (OSPB), the Joint Budget Committee (JBC), and the Capital Development Committee (CDC) on the annual state budget for higher education, convening the institutional CFOs, and establishing and implementing the overall budget strategy for the Department and Colorado Commission on Higher Education (CCHE). The position works closely with OSPB to develop and refine the approach to higher education budgeting in the state. The position maintains a general knowledge of public higher education financial issues, trends, and strategies at a national, state, and institutional level and requires a deep understanding of higher education policy and accounting, short- and long-term financial planning, strategic and entrepreneurial thinking, internal controls, and a service-oriented attitude.

Supervision Exercised: This position supervises three (3) employees: Budget Director, Controller, and Senior Policy and Data Analyst.

Description of Job

Scope of Responsibilities: This is an executive position responsible for strategy and oversight of all functions of the Budget and Accounting Division for the Department of Higher Education. Positions at this level are responsible for leading the Division, with a focus on innovation, collaboration, and customer service, which will include working with staff to maximize the utilization of internal resources and providing budgetary vision and guidance in support of the Department’s mission and goals. Positions at this level provide leadership, direction, and supervision for all Divisional activities, including ensuring accountability, providing professional development, building rapport within the Department, and contributing as a member of the Department’s Senior Staff. The work’s duties require considerable independence, initiative, and discretion within broad guidelines.

Job Duties: The duties listed below reflect the different types of work that may be performed. The omission of any specific duty will not prevent the assignment of work that is appropriately related to this position.

Budget:

1. Support the Executive Director in all budget-related endeavours related to the Departmental and institutional higher education budget in Colorado, including preparing the Executive Director for Governor’s Office budget briefings and legislative budget testimony.
2. Review all budget-related materials—including written requests and documents submitted to the Colorado Commission on Higher Education.
3. Develop strategy and lead engagement approaches with institutional CFOs.
4. Oversee implementation of all finance and budget-related legislation within the Department.

Accounting:

1. Oversee the preparation of the annual internal budget, obtain organizational needs, obtain consensus on priorities, and translate the consensus into a financial plan for the Department and each Division.
2. Support successful implementation of month-end and year-end close process, including utilizing and analysing state accounting system reports, reviewing required financial reports and exhibits, and ensuring the general ledger is properly balanced.
3. Ensure the implementation of and adherence to sound financial controls, policies, and practices, including state and federal fiscal rules and regulations.
4. Develop and maintain procedures that integrate business and strategic planning into the annual internal budget process.
5. Develop and lead strategies for Divisional delivery of monthly, departmental internal budget updates to the Executive Director and Deputy Executive Director.

Fiscal Policy:

1. Advise the Colorado Commission on Higher Education on overall finance trends in higher education and the state.
2. Oversee Colorado’s performance-based funding allocation model and make any necessary revisions in coordination with budget team and data team staff updates data.
3. Serve as the content expert on the Colorado higher education funding allocation model.
4. Advise the Department and the OSPB on fiscal policy development.

Minimum Qualifications, Substitutions, Conditions of Employment & Appeal Rights

Education and Experience: Any combination of experience and education that would likely provide the required knowledge and abilities is qualifying. A typical way to obtain the knowledge and abilities would be:

Education

Bachelor’s degree from an accredited university or college in accounting, finance, economics, public policy, business administration, higher education, management or closely related field.

Substitution: Four (4) years of experience in a related position can replace the education requirement of a bachelor’s degree.

Experience:

1. Seven (7) plus years of progressive leadership and direct staff management, including experience leading multiple functional teams.
2. Five (5) years of progressively responsible professional experience in financial administration, including at least two of the following areas: developing and managing a budget; strategic financial planning; and forecasting; developing standards and procedures; or meeting federal reporting requirements.
3. Two (2) years of experience with a legislative budget process, including finance policy development, preparing budgeting requests, submitting responses to the legislature, analysing the fiscal impact of legislation, and finance policy implementation.
4. Experience in public sector contract management, budget, and governmental financial management, including the development, preparation, and execution of multimillion-dollar budgets.
5. Extensive experience developing relationships with constituents, including state agencies and higher education institutions.

Licenses and Certifications:

1. Valid Colorado driver’s license and compliance with all requirements for driving a state vehicle are required throughout the term of employment.

Preferred Qualifications

Education: Master’s degree from an accredited university or college in business or public administration, finance, or accounting.

Licenses and Certifications:

1. Certified Public Accountant license.

Experience:

1. Experience as a CFO or equivalent, for another Colorado state agency, a higher education state agency in another state, or at an institution of higher education.
2. Experience working with higher education institution financial issues.
3. Experience working within Colorado’s higher education landscape, including the statutory authority, policies, and standards of the Department.
4. Experience with State of Colorado fiscal and procurement rules, including experience with State accounting and procurement systems.

Knowledge of:

1. Colorado’s budget and legislative processes, state finances, administration and allocation of funds, budget planning, and management.
2. Advanced office practices, procedures, software and equipment, including the use of personal computers, telephones, Zoom, and Microsoft Office (Excel, Word, Power Point, Outlook, and Teams).
3. State statutes, rules and regulations, policies, procedures, and guidelines, including state accounting and procurement systems.
4. Federal and private grant funding and regulations.
5. Outcomes-based funding or institutional funding formulas.

Ability to:

1. Advance complex policy and finance issues through effective relationship building, understanding, and communication with partners.
2. Monitor work activity to increase efficiency and improve the effectiveness and productivity of the budget and accounting teams.
3. Mentor, develop, and motivate staff and encourage strong performance.
4. Work effectively in both independent and team situations.
5. Establish and maintain relationships with internal and external stakeholders.
6. Use consensus building skills to effectively manage constituencies with competing interests.
7. Evaluate complex information and take initiative in collaborative problem solving, especially related to fiscal conditions, budget operations, and oversight.
8. Communicate effectively and present informative findings, both written and verbally, in a complex political environment.
9. Employ attention to technical detail and accuracy.
10. Manage sensitive issues and confidential information.
11. Apply time management skills to prioritize work across multiple high-priority responsibilities.