Vice President of Financial Strategy

2 weeks ago


Rochester, Minnesota, United States Mayo Foundation for Medical Education and Research Full time
Why Mayo Clinic
Mayo Clinic is recognized as a leader in numerous specialties, as highlighted by U.S. News & World Report. Our commitment to prioritizing patient needs extends to our employees, offering competitive salaries and comprehensive benefits to support you and your family now and in the future. With abundant opportunities for ongoing education and career advancement, you can cultivate a rewarding career at Mayo Clinic. Our environment fosters innovation, champions diversity, equity, and inclusion, and equips you with the necessary resources to excel.

Key Responsibilities

The Chief Financial Officer – Research (CFO-Research) is an integral member of the Mayo Clinic 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, department, and division, ensuring alignment with the institution's mission and values.

This position leads the analysis of management financial information, guiding decisions that significantly impact the institution and/or Research shield. Responsibilities include identifying opportunities to enhance extramurally funded research, optimizing clinical and scientific contributions from clinician investigators, and formulating long-term funding strategies for research endeavors. The CFO-Research is tasked with executing strategies that improve the financial performance of the institution and/or Research shield while collaborating with Research leadership to define the strategic direction for the Research shield, leveraging knowledge of the external environment.

The CFO-Research must adeptly navigate ambiguous situations and guide others through these challenges, prioritizing and allocating limited resources across multidisciplinary, multi-site teams to maximize efficiency while achieving departmental financial objectives. This role should foster an environment conducive to developing the workforce of the future, translating institutional and departmental visions into impactful results, and leading change through effective change management practices.

Responsibilities encompass planning, organizing, coordinating, monitoring, and controlling the operational and administrative functions of the department or division. Additional responsibilities include ensuring the quality, efficiency, and effectiveness of processes, systems, and resources that underpin service delivery, specifically:

  • Acting as a strategic partner to the Executive Dean of Research and the Chair of Research Administration.
  • Collaborating with Mayo Clinic Finance Department and Research leadership to identify, lead, and support broad strategic institutional initiatives.
  • Fostering a customer service-oriented approach with physician, scientist, and administrative leaders to enhance relationships and achieve strategic goals.
  • Maintaining the integrity of financial and statistical data and analysis.
  • Ensuring compliance with accounting rules, fiscal policies, and regulations.
  • Upholding a compliant internal control environment in Research Finance, in partnership with Research Compliance.
  • Adhering to all financial and accounting-related research governmental regulations.
  • Formulating solutions and implementing changes to optimize functional performance.
  • Developing programs and tools for financial reporting related to complex Research activities.
  • Creating a customer service-oriented 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 in partnership with Finance Leadership.
Qualifications

A Master's Degree and a minimum of 10 years of experience in complex, high-performing research, healthcare, or related organizations are 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 fostering effective relationships both internally and externally. A solid foundation in organizational and project management skills, strategic judgment, and a proven track record in building positive, cross-functional relationships is crucial.

Experience in managing and leading large teams, particularly in matrix reporting environments, is essential. Candidates should be capable of guiding business services from strategic consultation to tactical execution in a collaborative setting and developing key performance indicators to ensure success. Experience in developing and executing business plans is important. This role requires a self-starter who can manage multiple priorities simultaneously and lead with confidence when necessary. A proactive approach to identifying and mitigating risks through meticulous project planning and innovative solutions is expected.

Candidates must be able to build trust and influence others effectively. 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 analytics, financial analysis, and related quantitative skills is required. 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 Clinic's reputation extends beyond its Minnesota roots, with locations across various regions. Our employees thrive in their professional and personal lives at our major campuses and throughout our health system.

Affirmative Action and Equal Opportunity Employer

Mayo Clinic is committed to fostering an inclusive environment that values diversity and does not discriminate against any employee or candidate. We encourage applications from women, minorities, veterans, individuals from the LGBTQ community, and people with disabilities. Reasonable accommodations for accessing job openings or applying for a position are available.

Recruiter

Kylene Schaefer
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