Executive Vice President (EVP) and/or Chief Financial Officer (CFO)
About Clark University:
Founded in 1887, Clark was one of the first all-graduate institutions in the United States. Today the University is a highly-ranked, student-centered institution educating approximately 2,350 undergraduate and 1,150 graduate students to be imaginative and contributing citizens of the world and to advance the frontiers of knowledge and understanding through rigorous scholarship and creative effort. This commitment to scholarship and inquiry reflects the University's commitment to "challenge convention and change our world" and to address issues of critical importance to society. It is also reflected by Clark's many national and international distinctions, including recognition for its diversity and inclusion efforts, innovation, community engagement and impact, as a top green campus, and for having a distinguished geography and international development program. Clark has also been included in the groundbreaking Colleges that Change Lives guide since it was first published in 1996.
Clark is located in Worcester, Massachusetts, a dynamic, diverse city "on the rise." The second largest city in New England, Worcester is home to 11 institutions of higher learning and is increasingly recognized for its growing healthcare and biotechnology communities, its thriving cultural scene, and as a vibrant food hub.
Job Description:
Reporting to the president, the Executive Vice President and Chief Financial Officer (EVP) is a key member of the president's senior leadership team and works closely and directly with colleagues responsible for both the academics and operations of Clark University. The EVP will staff the Audit and Strategic Risk, Finance, and Investment committees of Clark's Board of Trustees, and working in close collaboration with the Investment Committee will oversee investment activities and an outsourced chief investment officer (OCIO) model. The EVP will also oversee management of the University's 403B pension plan. The EVP will participate in many ongoing and ad hoc committees and working groups across the campus and in the community. At the outset, the EVP will lead a staff of approximately 96 employees with responsibility for budgeting; business services; controller and treasury functions; human resources; information technology, risk assessment and management; investments; and compliance. Direct reports to the EVP will be the chief budget officer, the vice president for information technology, the assistant treasurer/controller, the chief human resources officer, the chief of university police, the Title IX coordinator, the director of legal insurance operations and institutional policy, and director of risk management. The EVP will also manage and serve as the primary point of contact with retained outside legal counsel. The EVP will play a key leadership role in the development of the University's annual operating and capital budgets. In addition, managing debt management and strategy, and relationships with financial institutions, investment bankers, rating agencies, and auditors will be critical roles for the new EVP.
KEY OPPORTUNITIES + CHALLENGES
Balancing strategic investments with long-term sustainability will be the essential charge for the new EVP. This will require strategic alignment and skillful management of Clark's human, financial, and physical resources to optimize institutional capacity to support academic priorities and initiatives to enhance the student experience. It is in this context that the primary opportunities and challenges for the EVP will include the following:
Lead financial strategy, analysis, and planning aligned with academic mission and institutional priorities
Employing sound, yet creative fiscal management and strategy, the EVP will be charged with identifying the resources to fund the university's ongoing priorities. Applying sophisticated knowledge of, and best practices in integrated budget management and strategic planning, the new EVP will ensure that Clark's overall financial model remains sound. Serving as the University's primary financial advisor, the EVP will provide technical advice and counsel to the president, provost, and other key stakeholders, and will translate challenges into priorities and action. Clark will benefit greatly from a results-oriented, resourceful EVP who understands that carefully considered risk and investments are essential for an institution like Clark to thrive in an increasingly competitive higher education environment.
Identify resources to support capital investments in the campus and its facilities
Clark's historical investments in its facilities have been relatively conservative, with incremental pursuit of smaller capital projects and in addressing deferred maintenance. Over the past several years, Clark has implemented more ambitious capital budgets and reinvestment in its plant to address some more significant near-term needs. Clark expects to make more significant capital investment in its facilities to continue to attract students and support enrollment growth. The EVP will play a central role in developing a financial strategy to support this plan.
Advocate for and support a robust, technologically advanced campus
The new EVP will understand and embrace technology as a means for delivering a better educational program and for running essential operations of the University efficiently and effectively. The EVP must prioritize investments in technology to ensure that faculty, staff, and students have access to and benefit from the use of the latest and most important technological advancements. The new EVP will facilitate development of a holistic, well-integrated finance and IT strategy and plan that will serve as a road map for ongoing investments in Clark's technology infrastructure and strategy.
Effectively communicate financial information and decisions to the Clark community
Clark leadership, faculty, and staff will welcome an EVP who is transparent and forthcoming in communicating complex financial information in accessible terms, and in sharing the rationale behind critical financial decisions. Providing a broad sense of the scope of considerations that have gone into decisions will make even disappointing determinations better understood and ultimately more palatable.
Develop relationships of trust, confidence, and respect with colleagues throughout the Clark community and with stakeholders beyond the campus
Clark is a highly relational institution and there is an expectation that leadership, including the EVP, will be visible and accessible members of the community. Clark's small size allows people to know each other personally and there is a coherence and shared sense of purpose that is integral to its culture. To succeed in this environment, the new EVP must develop strong working relationships across the University among the senior leadership team and with administrators, deans, faculty, and students. In all these interactions, the EVP must convey professional expertise and a respect for the academic culture and a deep commitment to protect and advance Clark's interests. The new EVP will need to circulate widely to learn more about current challenges, potential concerns, long-held beliefs, best practices, and opportunities for improvement. The EVP must respond to the needs of individual colleagues and units while keeping a high level and comprehensive perspective on issues that affect the entire institution.
Deepen the sense of community and commitment to diversity and inclusion at Clark
Clark has a long history of supporting and ensuring a diverse and inclusive environment and has invested in programs and services to advance this commitment. The next EVP will bring an understanding of the unwavering commitment to the ways in which diversity, in the broadest sense, strengthens and deepens the education of Clark students and enhances the climate for all members of the Clark community. The EVP will play an important leadership role, including working in close collaboration with the University's Chief Diversity Officer, helping Clark become an even more inclusive, safe, and welcoming community for students, faculty, and staff, and the Main South neighborhood.
Lead and support talented administrators and staff
The EVP will oversee a dedicated group of finance and administration senior managers and staff who look forward to having the support of a new leader who will empower them and invest in their professional development. The EVP will encourage innovation and new ways of thinking. A commitment to open communication, transparency, and cross-functional interaction, and fostering a culture that places a high value on teamwork, will serve to enhance overall effectiveness and a shared sense of purpose in providing high-quality service to the Clark community. Ensuring that roles and expectations are well articulated and understood, and working collaboratively with the leadership team to develop metrics for assessing operational efficiency and effectiveness, will provide valuable information to measure performance and strengthen accountability. The new EVP will review the organizational structure and staffing of the finance and operations areas to ensure that they have the capacity to effectively support the University.
Ensure that Clark attracts and retains high-performing staff across the institution
With the many institutions of higher learning and a rapidly growing health care sector in the greater Worcester area, the competition for recruiting and retaining staff is a challenge. The new EVP will work closely with the Chief Human Resources Officer to identify roles and areas with high turnover, review staffing levels . click apply for full job details
Founded in 1887, Clark was one of the first all-graduate institutions in the United States. Today the University is a highly-ranked, student-centered institution educating approximately 2,350 undergraduate and 1,150 graduate students to be imaginative and contributing citizens of the world and to advance the frontiers of knowledge and understanding through rigorous scholarship and creative effort. This commitment to scholarship and inquiry reflects the University's commitment to "challenge convention and change our world" and to address issues of critical importance to society. It is also reflected by Clark's many national and international distinctions, including recognition for its diversity and inclusion efforts, innovation, community engagement and impact, as a top green campus, and for having a distinguished geography and international development program. Clark has also been included in the groundbreaking Colleges that Change Lives guide since it was first published in 1996.
Clark is located in Worcester, Massachusetts, a dynamic, diverse city "on the rise." The second largest city in New England, Worcester is home to 11 institutions of higher learning and is increasingly recognized for its growing healthcare and biotechnology communities, its thriving cultural scene, and as a vibrant food hub.
Job Description:
Reporting to the president, the Executive Vice President and Chief Financial Officer (EVP) is a key member of the president's senior leadership team and works closely and directly with colleagues responsible for both the academics and operations of Clark University. The EVP will staff the Audit and Strategic Risk, Finance, and Investment committees of Clark's Board of Trustees, and working in close collaboration with the Investment Committee will oversee investment activities and an outsourced chief investment officer (OCIO) model. The EVP will also oversee management of the University's 403B pension plan. The EVP will participate in many ongoing and ad hoc committees and working groups across the campus and in the community. At the outset, the EVP will lead a staff of approximately 96 employees with responsibility for budgeting; business services; controller and treasury functions; human resources; information technology, risk assessment and management; investments; and compliance. Direct reports to the EVP will be the chief budget officer, the vice president for information technology, the assistant treasurer/controller, the chief human resources officer, the chief of university police, the Title IX coordinator, the director of legal insurance operations and institutional policy, and director of risk management. The EVP will also manage and serve as the primary point of contact with retained outside legal counsel. The EVP will play a key leadership role in the development of the University's annual operating and capital budgets. In addition, managing debt management and strategy, and relationships with financial institutions, investment bankers, rating agencies, and auditors will be critical roles for the new EVP.
KEY OPPORTUNITIES + CHALLENGES
Balancing strategic investments with long-term sustainability will be the essential charge for the new EVP. This will require strategic alignment and skillful management of Clark's human, financial, and physical resources to optimize institutional capacity to support academic priorities and initiatives to enhance the student experience. It is in this context that the primary opportunities and challenges for the EVP will include the following:
Lead financial strategy, analysis, and planning aligned with academic mission and institutional priorities
Employing sound, yet creative fiscal management and strategy, the EVP will be charged with identifying the resources to fund the university's ongoing priorities. Applying sophisticated knowledge of, and best practices in integrated budget management and strategic planning, the new EVP will ensure that Clark's overall financial model remains sound. Serving as the University's primary financial advisor, the EVP will provide technical advice and counsel to the president, provost, and other key stakeholders, and will translate challenges into priorities and action. Clark will benefit greatly from a results-oriented, resourceful EVP who understands that carefully considered risk and investments are essential for an institution like Clark to thrive in an increasingly competitive higher education environment.
Identify resources to support capital investments in the campus and its facilities
Clark's historical investments in its facilities have been relatively conservative, with incremental pursuit of smaller capital projects and in addressing deferred maintenance. Over the past several years, Clark has implemented more ambitious capital budgets and reinvestment in its plant to address some more significant near-term needs. Clark expects to make more significant capital investment in its facilities to continue to attract students and support enrollment growth. The EVP will play a central role in developing a financial strategy to support this plan.
Advocate for and support a robust, technologically advanced campus
The new EVP will understand and embrace technology as a means for delivering a better educational program and for running essential operations of the University efficiently and effectively. The EVP must prioritize investments in technology to ensure that faculty, staff, and students have access to and benefit from the use of the latest and most important technological advancements. The new EVP will facilitate development of a holistic, well-integrated finance and IT strategy and plan that will serve as a road map for ongoing investments in Clark's technology infrastructure and strategy.
Effectively communicate financial information and decisions to the Clark community
Clark leadership, faculty, and staff will welcome an EVP who is transparent and forthcoming in communicating complex financial information in accessible terms, and in sharing the rationale behind critical financial decisions. Providing a broad sense of the scope of considerations that have gone into decisions will make even disappointing determinations better understood and ultimately more palatable.
Develop relationships of trust, confidence, and respect with colleagues throughout the Clark community and with stakeholders beyond the campus
Clark is a highly relational institution and there is an expectation that leadership, including the EVP, will be visible and accessible members of the community. Clark's small size allows people to know each other personally and there is a coherence and shared sense of purpose that is integral to its culture. To succeed in this environment, the new EVP must develop strong working relationships across the University among the senior leadership team and with administrators, deans, faculty, and students. In all these interactions, the EVP must convey professional expertise and a respect for the academic culture and a deep commitment to protect and advance Clark's interests. The new EVP will need to circulate widely to learn more about current challenges, potential concerns, long-held beliefs, best practices, and opportunities for improvement. The EVP must respond to the needs of individual colleagues and units while keeping a high level and comprehensive perspective on issues that affect the entire institution.
Deepen the sense of community and commitment to diversity and inclusion at Clark
Clark has a long history of supporting and ensuring a diverse and inclusive environment and has invested in programs and services to advance this commitment. The next EVP will bring an understanding of the unwavering commitment to the ways in which diversity, in the broadest sense, strengthens and deepens the education of Clark students and enhances the climate for all members of the Clark community. The EVP will play an important leadership role, including working in close collaboration with the University's Chief Diversity Officer, helping Clark become an even more inclusive, safe, and welcoming community for students, faculty, and staff, and the Main South neighborhood.
Lead and support talented administrators and staff
The EVP will oversee a dedicated group of finance and administration senior managers and staff who look forward to having the support of a new leader who will empower them and invest in their professional development. The EVP will encourage innovation and new ways of thinking. A commitment to open communication, transparency, and cross-functional interaction, and fostering a culture that places a high value on teamwork, will serve to enhance overall effectiveness and a shared sense of purpose in providing high-quality service to the Clark community. Ensuring that roles and expectations are well articulated and understood, and working collaboratively with the leadership team to develop metrics for assessing operational efficiency and effectiveness, will provide valuable information to measure performance and strengthen accountability. The new EVP will review the organizational structure and staffing of the finance and operations areas to ensure that they have the capacity to effectively support the University.
Ensure that Clark attracts and retains high-performing staff across the institution
With the many institutions of higher learning and a rapidly growing health care sector in the greater Worcester area, the competition for recruiting and retaining staff is a challenge. The new EVP will work closely with the Chief Human Resources Officer to identify roles and areas with high turnover, review staffing levels . click apply for full job details