Vice President of Finance and Operations

2 weeks ago

Boston, Massachusetts, United States Colleges of Fenway - Wentworth Institute of Technology Full time

About Colleges of Fenway - Wentworth Institute of Technology

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We prioritize earnings, economic mobility, and economic diversity among colleges in Massachusetts, earning the top spot in the latest New York Times college ranking.

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We have a robust co-op program, offering hands-on experiences that provide depth of learning, relevant experiences, and valuable networking opportunities. More than 38 percent of the class of 2023 were offered post-graduate full-time employment by their co-op employer.

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Position Summary:

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The Vice President of Finance and Operations will oversee budgeting and forecasting, financial planning and analysis, finances, accounting, treasury, and endowment. This role is a key partner in developing the Institution's financial strategy and working collaboratively with University leadership, as well as the Board of Trustees, ensuring that operational and capital resources are deployed responsibly and consistently with the strategic plan of the institution.

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Essential Responsibilities:

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Finance / Accounting

  • Develop and execute financial strategies aligned with the University's growth objectives and long-term vision.
  • Develop and implement recommendations concerning the strategic allocation of resources, business processes, and finance policies.
  • Develop and model strategies to improve financial performance and efficiency; and identify trends and changes in resource management.
  • Manage and oversee all treasury functions, including but not limited to, investments, bonds, capital funds, operating cash, credit cards and other negotiable instruments.
  • Provide the President and leadership team with strategies and analysis on debt and cash management, including supporting new ways of funding capital projects through public and private partnerships.
  • Work with accrediting agencies, government and rating agencies on metrics and reporting of the Institute's financial position.
  • Deliver timely reports to the leadership team as needed.

Budget Forecasting

  • Collaborate and partner with various divisions to secure and maximize revenues, contain costs, and plan for the resource needs across the institution.
  • Work closely with the President and leadership team on budget development, long-term financial projections, pro forma planning, cost benefit analysis, program/unit performance.
  • Oversee the annual operating and capital budget process.
  • Collaborate on projects, programs and initiatives for which there is a financial component.

Team Leadership

The Vice President of Finance and Operations will foster a collaborative work environment that promotes inclusion, professional development, and performance excellence. This role is responsible for hiring, managing and developing accounting and finance staff and providing cross-departmental collaboration to ensure that financial systems and solutions support the institution's ambitions.

Minimum Qualifications:

  • A bachelor's degree is required.
  • Minimum of 10-15 years of progressive leadership responsibilities with a combination of experience in finance, accounting, budgeting and operations as well as significant experience in strategy, business, and financial planning.
  • Extensive executive level experience in the financial management of higher educational institutions with a deep understanding of the financial compliance and regulatory environment that higher education institutions operate within.
  • Strong communication skills to convey complex financial information clearly to stakeholders at all levels.

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