Vice President of Financial Operations and Controller

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JOB DESCRIPTION AND POSITION REQUIREMENTS:

Penn State University (PSU) and the Penn State College of Medicine (COM) are in search of a seasoned financial leader to take on the role of Vice President of Financial Operations and Controller for the Penn State College of Medicine.

This pivotal and highly influential member of the Senior Management Team will provide strategic guidance in the financial management and stewardship of University resources at the Penn State College of Medicine.

The position will work closely with financial, academic, and clinical leadership at Penn State University, Penn State Health, and the Penn State Health Milton S. Hershey Medical Center to promote the academic objectives of biomedical and health sciences research and education at the Penn State College of Medicine campus.

Established in 1963 with a generous contribution from the Milton S. Hershey Foundation, the Penn State College of Medicine is part of an academic medical center that includes the Milton S. Hershey Medical Center, Penn State Children's Hospital, and Penn State Health Academic Medical Division.

The College of Medicine is dedicated to enhancing quality of life through improved health, training professionals to meet health needs, and advancing knowledge for the benefit of all.

Located 90 miles from University Park Campus, the COM enrolls over 900 medical and graduate students and employs approximately 1800 faculty and staff. The annual operating budget for FY2024 is $383 million, with $116 million in anticipated research awards.

The Pennsylvania State University and Penn State Health share a synergistic relationship, with aligned missions and interdependencies. Penn State Health provides operational and financial support to the Penn State College of Medicine.

A Master Affiliation Agreement serves as an overarching agreement, coordinating and confirming the various commitments of Penn State and Penn State Health.

The financial relationships between Penn State and Penn State Health are documented in agreements such as the Academic Support Payment, Facility Use Agreement, and Intercompany Services Agreement.

These agreements are reviewed regularly and updated as necessary to reflect changes in service allocations, facility usage, and support provisions among the parties.

Job Summary:
This position will report directly to the Dean of the Penn State College of Medicine (COM).

Under the Vice President of Financial Operations, a highly skilled team will oversee the Penn State College of Medicine's annual operating budget of $378 million (FY2025).

The Vice President of Financial Operations and Controller will act as a partner and strategic advisor in developing sustainable operational and financial frameworks to support a unified vision and strategic plan aimed at enhancing research, academic, and clinical missions.

The ideal candidate will exhibit a high level of emotional intelligence and organizational engagement, along with senior administrative experience to effectively navigate the intricate organizational structure of an academic health center and integrated health system.

Responsibilities:
The Vice President of Financial Operations will lead and manage the financial operations of the Penn State College of Medicine, including the development and alignment of the College's long-term financial strategy with broader University initiatives supporting biomedical and health sciences research and education.

Oversee University-owned assets at the Milton S. Hershey Medical Center campus, collaborating with the Penn State Health Chief Financial Officer as fiduciaries of the Master Affiliation Agreement that confirms various financial and operational commitments by both entities in support of the College of Medicine.

Manage and update various agreements established by the Master Affiliation Agreement, including the Academic Support Payment, Facility Use Agreement, and Intercompany Services Agreement.

Collaborate with the Dean, Vice Deans, Institute Directors, and Department Chairs to lead the development of the College of Medicine's annual operating and capital budgets.

As the Controller for the Penn State College of Medicine, work in partnership with the Associate Vice President for Finance and Controller at Penn State University to oversee all control functions, including accounting, budgeting, payroll, accounts payable, and management of research, endowment, and gift funds. This includes responsibility for financial reporting, year-end closing, and oversight of all College reserves.

Oversee the management of revenues and expenses for the Penn State College of Medicine, including contract negotiation and execution, as well as cost allocations.

Serve as a key member of the Penn State University Finance and Business Leadership Team, the Dean's Leadership Team, Penn State Hershey Executive Council, Clinical Leadership Forum, and Penn State Hershey Facilities Resources Board.

Prepare and deliver executive presentations to the Penn State University Board of Trustees and the Finance, Business, and Capital Planning Committee regarding proposed actions and informational briefings related to the College of Medicine.

Address complex inquiries requiring detailed explanations, persuasion, and interpretation of policies to faculty, staff, and students.

Qualifications:

Education:

A Master's Degree in Business Administration or a related field (e.g., Public Administration, Health Administration) from an accredited institution and/or a CPA designation.

Experience:

A minimum of seven to ten years of experience in a senior financial management leadership role overseeing financial and business functions in a large, complex organization, preferably within an academic healthcare setting, with matrixed and interdependent reporting relationships.

Strong preference for candidates with management experience in a similarly structured research-oriented academic medical center or college of medicine, or experience in a higher education environment with knowledge of tuition revenue, gifts, and endowments, with a focus on education and research.

Competencies:

• Demonstrated confidence and effectiveness in collaborating with academic executives on broad financial matters, including budgeting, cost allocations, and compensation.
• Strong interpersonal skills to interact with all levels of organizational management.
• Highly collaborative with exceptional verbal and written communication skills.
• Proven ability to develop and present financial and budgetary information to diverse internal and external audiences.
• Superior problem-solving skills to organize, plan, and execute comprehensive operational activities.
• Ability to contribute to and support the professional growth and development of both direct and indirect reports.
• Results-oriented with high energy and a commitment to continuous improvement and innovation; effective communicator with a history of mentoring, consensus building, teamwork, and interpersonal skills; strong service orientation, integrity, and commitment to diversity; entrepreneurial leader willing to apply data-informed decision-making in recommending calculated risks; and unquestioned integrity with a commitment to excellence.

Required Application Documents:
Cover Letter

Resume/CV

Employment will require successful completion of background checks in accordance with University policies.

Pennsylvania State University is committed to advancing diversity, equity, and inclusion in all its forms. We embrace individual uniqueness, foster a culture of inclusive excellence that supports broad and specific diversity initiatives, leverage the educational and institutional benefits of diversity, and engage all individuals to help them thrive. We value inclusive excellence as a core strength and an essential element of our public service mission.

CAMPUS SECURITY CRIME STATISTICS:

In accordance with the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, Penn State publishes an Annual Security and Annual Fire Safety Report (ASR). The ASR includes crime statistics and institutional policies concerning campus security, such as those related to alcohol and drug use, crime prevention, reporting of crimes, sexual assault, and other matters. The ASR is available for review.

Employment with the University will require successful completion of background checks in accordance with University policies.

EEO IS THE LAW

Penn State is an equal opportunity, affirmative action employer, committed to providing employment opportunities to all qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status. If you are unable to use our online application process due to an impairment or disability, please contact us for assistance.

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