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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 numerous specialties, as highlighted by U.S. News & World Report. Our commitment to prioritizing patient needs extends to our employees, where we offer competitive salaries and comprehensive benefits to support you and your family now and in the future. We also provide continuous education and career advancement opportunities, fostering a long and successful career path within our organization. Our environment encourages innovation, champions diversity, equity, and inclusion, and equips you with the necessary resources to thrive.

Key Responsibilities

The Chief Financial Officer – Research (CFO-Research) is an integral member of the Research leadership team at Mayo Foundation, delivering critical insights on financial and operational matters to facilitate sustainable growth and development of research initiatives. The CFO-Research actively contributes to establishing the vision, direction, and objectives for the organization, ensuring alignment with the institutional mission and values. This role requires the identification and analysis of both external and internal factors influencing the performance and sustainability of the organization, leading to the development and implementation of solutions to enhance outcomes.

This position oversees the analysis of management financial information, guiding decisions with significant institutional impact, including but not limited to exploring opportunities for expanding externally funded research, optimizing clinical and scientific contributions from clinician investigators, enhancing alignment with benefactor contributions, and formulating long-term funding strategies for research. The CFO-Research is responsible for identifying and executing strategies that improve the financial performance of the institution while collaborating with Research leadership to set the strategic direction for the Research division, leveraging insights from the external environment.

The CFO-Research must navigate ambiguous situations effectively and guide others through these challenges, prioritizing and allocating limited resources across multidisciplinary teams to maximize efficiency while achieving financial targets. This role fosters an environment conducive to developing the workforce of the future, translating institutional and departmental visions into meaningful 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 support service delivery, specifically:

  • 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 identify and support broad strategic 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.
  • Establishing a compliant internal control environment in Research Finance.
  • Adhering to all financial and accounting-related governmental regulations.
  • Formulating solutions and implementing changes to optimize functional performance.
  • Developing financial reporting programs and tools for complex research activities.
  • Creating a customer service-oriented Research Finance department that collaborates effectively with physician/scientist and administrative colleagues.
  • Developing a robust succession plan for Research Finance, including coaching and mentoring staff.
Qualifications

A Master's Degree with 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 fostering effective relationships both internally and externally. Solid organizational and project management skills, strategic judgment, and a proven track record in building 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 and developing key performance indicators to ensure success. The ability to manage multiple priorities simultaneously and lead with confidence is crucial. A proactive approach to identifying and mitigating risks through meticulous project planning and innovative solutions is expected.

Candidates must possess the ability to build trust and influence others, with experience in driving change by advising senior executives and leading process-based initiatives. A high degree of competency in data analysis, financial analysis, and related quantitative skills is necessary. Creative problem-solving abilities and effective storytelling skills when reporting outcomes are highly valued.

Exemption Status

Exempt

Benefits Eligible

Yes

Schedule

Full Time

Hours/Pay Period

80

International Assignment

No

Site Description

Our reputation extends beyond our Minnesota roots, with employees located at major campuses in various regions and international locations. Each Mayo Foundation site is a unique environment where employees can thrive both professionally and personally.

Affirmative Action and Equal Opportunity Employer

Mayo Foundation is committed to fostering an inclusive environment that values diversity and does not discriminate against any employee or candidate. We strongly 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.