The University of Washington (UW), one of the nation’s preeminent public universities, invites nominations and applications for the position of Vice President for Finance.
Finance & Administration supports the core mission of the University of Washington through the strategic management and collaborative stewardship of the University’s financial and physical resources. The organization is led by the Executive Vice President for Finance & Administration (EVPFA), who serves as the chief business and financial officer for the University and directs the central business services including Finance, Facilities, Human Resources, Information Technology, and Capital Planning & Development. The Vice President for Finance (VP Finance) reports directly to the EVPFA.
The VP Finance is a key member of the University's administrative management team and serves as a key thought partner and strategic advisor to the EVPFA--recommending financial and administrative objectives, policies, programs, and practices that ensure a sound fiscal structure for the University.
The VP Finance has executive-level oversight for university cash management and adherence to financial/fiduciary requirements such as debt covenants. As the Chief Financial Officer, s/he is responsible for the management of financial matters and compliance with audit, legal and donor requirements, IRS, federal, state, research, and financial aid.
The VP Finance oversees an administrative organizational structure that includes all major aspects of finance and business services. Units reporting to the VP Finance includes the following: Office of the Controller, Treasury, Enterprise Services, the Integrated Service Center, and the Finance Transformation project. The Finance Transformation project team is responsible for implementing a new financial system at the University. While currently managed by the AVP, Enterprise Services, the project will require dedicated management once approved.
The VP Finance contributes to advancing the University’s mission to support academics, research, and patient care while also advancing the strategic direction of the University. S/he promotes and supports a climate of innovation, creative problem solving, and diversity of thought, people, and cultures.
The University of Washington is a complex, world-class insitution--one of the five largest employers in the state with a 2017 budget of nearly $7.1 billion including affiliated hospitals. The University receives more research dollars than any other public university in the nation, with $1.37 billion in awards in FY 2016. The University’s annual economic impact on the State of Washington is approximately $12.5 billion, up from $9.1 billion just five years ago. The University’s endowment exceeds $3 billion and its credit rating is Aaa (Moody’s). The University’s financial reports are available at http://finance.uw.edu/financial-report-archive.
DIMENSIONS AND IMPACT:
The VP Finance works closely with campus departments including UW Medicine, Intercollegiate Athletics, Risk Management, Student Life, and auxiliaries. The position also collaborates closely with the Office of Planning & Budgeting in defining the University’s business model and budget priorities, while ensuring fiscal sustainability.
The VP Finance oversees an administrative organization that includes major aspects of finance and business services. Reporting to the VP Finance is the Associate Vice President & Controller, Associate Vice President of Treasury, the Associate Vice President of Enterprise Services, the UW Finance Transformation Project, and the Integrated Service Center.
The Office of the Controller is responsible for the University’s fiscal accounting, financial reporting, grants and contracts accounting, management accounting and analysis, student accounts, and equipment inventory.
The Treasury Office is responsible for the administration of the University’s debt portfolio including the issuance of new debt and administration of the institution’s internal bank, financial analysis to support capital investments, cash management policy, debt capacity analysis, and long range financial forecasting.
Enterprise Services manages several units including procurement, tax, publications/printing and mailing services, global support, university records management, public records/open meetings and the data management/analytic support for UW Finance. Enterprise Services also oversees the Integrated Service Center–a new department created to support the University’s Workday Enterprise Resource Planning (ERP) platform. Workday was implemented on June 27, 2017, for Human Resources/Payroll.
The VP of Finance is the lead functional sponsor for the UW Finance Transformation Project, in collaboration with the Chief Financial Officer of UW Medicine. Implementation of a finance ERP will occur in approximately two years, replacing the University’s legacy finance systems. This ERP will provide university administrators with greater visibility across the institution regarding current performance, projected future needs, and financial challenges. The anticipated project will include establishing a new chart of accounts, designing new business processes, and implementing a new financial platform for the University.
1. Lead the University’s Finance management team and a central Finance organization of 350 employees. Serve as functional leader for the Finance function across campus, including key academic units and UW Medicine.
2. Work with others to develop and sustain a financial strategy for the University, in support of the academic, clinical, and research mission. Provide ongoing evaluation of short and long-term strategic financial requirements and objectives.
3. Create and sustain an environment of service excellence, customer service, effectiveness, and innovation.
4. Ensure that the University’s control function reflects best practices for R1 institutions, to include timely and accurate accounting, controls, management reporting, and analytics. Ensure compliance with GAAP and other applicable federal, state, and local regulations and standards.
5. Manage the capital structure of the University, ensuring the coordination and availability of financial resources for academic, clinical, and other priorities. Ensure the ongoing availability of financial capacity through a rigorous financing and debt strategy.
6. Manage the key components of the Enterprise Services portfolio, including the sponsorship of alliances with key suppliers, the negotiation of critical contracts, the successful management of the University’s printing operation, compliance with open records requests, and associated functions.
7. Serve as functional sponsor for the Financial Transformation Project, including primary accountability for the implementation of the new financial system.
8. Serve as the University’s primary interface to the Board of Regents Audit Advisory Committee and coordinate the University’s activities in support of and response to external and other audits.
9. Provide executive management with decision support advice on the financial implications of business activities, the costs of strategic priorities, and funding options.
10. Present financial initiatives to key stakeholders, including the Board of Regents.
11. Serve on the EVPFA management team and the President’s Cabinet.
Lead functional sponsor for the UW Finance Transformation Project.
Associate Vice President and Controller, Associate Vice President of Treasury, the Associate Vice President of Enterprise Services, the Finance Transformation Project, and the Integrated Service Center.
Master’s degree in Economics, Business Administration or related field and nine or more years of experience.
Strategic and Visionary Leadership & Management
The VP Finance will be a strategic thinker with the vision, capacity, knowledge and expertise to set a direction for the Finance function, closely aligning with the University’s academic and administrative strategy. S/he will understand and balance a complex array of constituent needs and available/potential funding sources. This leader will have the perspective to consider the short- and long-term impacts of decisions, plans, and programs on the University and make sound recommendations accordingly. The VP of Finance will bring superb management skills and will build a culture of accountability using a collaborative and team-oriented leadership style. S/he will have good judgment in recognizing talent and building strong, diverse teams that are empowered to achieve individual and institutional goals.
Financial Expertise and Integrity
The VP Finance will have progressive experience in financial and administrative leadership roles including the management of an integrated Finance department. This leader will also have unquestionable professional integrity and will bring demonstrated success in developing financial infrastructure that supports academic and strategic priorities. The successful candidate will possess the following experience and credentials:
•Strategic financial planning
•Financial modeling, forecasting, and reporting
•Financial analysis and decision support
•Accounting and fiscal management
•Financial risk management and compliance
•Ability to operate in a complex and diverse matrixed environment
•Keen interest in higher education finance
•Managing and motivating diverse teams
•Experience supporting and presenting to boards on financial matters and capital investment is essential
The VP Finance will have a strong record of accomplishment in leading large-scale projects and organizational change. Experience of the following is strongly preferred: project management, process improvement, enterprise-wide system implementation, organizational transformation, and the ability to work through complex issues while dealing with ambiguity.
Collaboration/ Relationship Building and Influencing
The VP Finance will possess outstanding and influential communication abilities and superb listening skills. S/he will be respectful of diverse viewpoints and will inspire both internal and external stakeholders. The VP Finance will be adept at facilitating connections and building partnerships and collaborations based on trust and credibility to establish the necessary partnerships with the President, Provost, Board of Trustees, senior administrative team, faculty, staff, students, and external partners. The VP Finance will have the ability to communicate effectively regarding campus financial goals, develop creative strategies, and work successfully and collaboratively in a complex and fluid environment.
Equivalent education/experience will substitute for all minimum qualifications except when there are legal requirements, such as a license/certification/registration.