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Senior Financial Executive

2 months ago

Rochester, Minnesota, United States Mayo Foundation for Medical Education and Research Full time
About Mayo Foundation for Medical Education and Research
Mayo Foundation for Medical Education and Research is recognized for excellence across various specialties, as noted by U.S. News & World Report. We prioritize patient needs while also valuing our employees, offering competitive compensation and comprehensive benefits to support you and your family. With ample opportunities for continuing education and career advancement, you can cultivate a rewarding career with us. Our environment fosters innovation, promotes diversity, equity, and inclusion, and equips you with the necessary resources to succeed.

Key Responsibilities

The Chief Financial Officer – Research (CFO-Research) is an integral member of the Research leadership team, providing essential insights on financial and operational matters to facilitate sustainable growth and development of research initiatives. The CFO-Research plays a pivotal role in establishing the vision, direction, and objectives for the organization, ensuring alignment with the institution's mission and values. This role involves identifying and analyzing both external and internal factors that influence the performance and sustainability of the organization, and developing strategies to enhance outcomes.

This position oversees the analysis of financial management information that informs decisions with significant institutional impact, including exploring opportunities to expand externally funded research, maximizing contributions from clinician investigators, improving alignment with benefactor gifts, and formulating long-term funding strategies for research. The CFO-Research is responsible for executing strategies that enhance the financial performance of the institution while collaborating with Research leadership to set the strategic direction for the Research division, leveraging knowledge of the external landscape.

The CFO-Research must navigate ambiguous situations effectively and guide others through such challenges, prioritizing and allocating limited resources across multidisciplinary teams to optimize efficiency while achieving financial targets. This role is essential in fostering an environment conducive to developing the workforce of the future, translating institutional and departmental visions into impactful results, and leading change through effective management practices.

Responsibilities encompass planning, organizing, coordinating, monitoring, and controlling the operational and administrative functions of the department or division. Key duties include:

  • Acting as a strategic partner to the Executive Dean of Research and the Chair of Research Administration.
  • Collaborating with members of the Finance Department and Research leadership to spearhead broad strategic initiatives.
  • Fostering a customer service-oriented approach with physician, scientist, and administrative leaders to enhance relationships and achieve strategic goals.
  • Ensuring the integrity of financial and statistical data and analyses.
  • Overseeing the interpretation and implementation of accounting standards, fiscal compliance, policies, and regulations.
  • Maintaining a compliant internal control environment in Research Finance, in collaboration with compliance teams.
  • Adhering to all relevant financial and accounting regulations.
  • Formulating solutions and implementing changes to optimize operational performance.
  • Developing financial reporting programs and tools for complex research activities.
  • Creating a customer-focused Research Finance department that collaborates effectively with physician/scientist and administrative colleagues.
  • Establishing a robust succession plan for Research Finance, including coaching and mentoring staff.
Qualifications

A Master's Degree and a minimum of 10 years of experience in complex, high-performing research, healthcare, or related organizations is required. A CPA designation is preferred. Candidates must demonstrate strong leadership, business acumen, analytical capabilities, and excellent oral and written communication skills. Superior interpersonal skills are essential for building effective relationships both internally and externally. Solid organizational and project management skills, strategic judgment, and a proven track record in fostering positive, cross-functional relationships are critical.

Experience in managing and leading large teams, particularly in matrix reporting environments, is essential. Candidates should be adept at guiding business services from strategic consultation to tactical execution in a collaborative setting, with the ability to develop key performance indicators to ensure success. Proven experience in developing and executing business plans is important. This role requires a self-starter capable of managing multiple priorities simultaneously and leading with confidence when necessary. Candidates should exhibit professional curiosity to assess and enhance existing processes and implement new solutions where appropriate. Meeting deadlines with enthusiasm and confidence is crucial, along with the ability to proactively identify and mitigate risks through meticulous planning and innovative solutions.

Candidates must possess the ability to build trust and influence others. Experience in driving change by influencing senior executives, making recommendations to enhance growth or improve ROI, and leading the implementation of process-based initiatives is vital. A high degree of competency in data analysis, financial analysis, and related quantitative skills is expected. The ideal candidate will be a creative problem-solver and skilled storyteller when presenting outcomes.

Exemption Status

Exempt

Benefits Eligible

Yes

Schedule

Full Time

Hours/Pay Period

80

International Assignment

No

Site Description

Mayo Foundation for Medical Education and Research operates across multiple locations, with employees thriving in both their professional and personal lives. Each location offers a unique environment conducive to employee well-being.

Affirmative Action and Equal Opportunity Employer

Mayo Foundation for Medical Education and Research is committed to fostering an inclusive environment that values diversity and does not discriminate against any employee or candidate. Women, minorities, veterans, individuals from the LGBTQ communities, and people with disabilities are strongly encouraged to apply. Reasonable accommodations for accessing job openings or applying for a position are available.

Recruiter

Kylene Schaefer
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