Position Summary: The Director, Financial Operations leads the University's day-to-day financial operations and provides oversight of accounting, budgeting, and financial reporting. Reporting to the Chief Financial Officer, this position ensures the integrity of financial records, maintains strong internal controls, oversees compliance with applicable regulations, and supports sound financial decision-making. The Director manages the accounting, accounts payable, and financial planning and analysis staff; oversees development and monitoring of the annual budget and forecast; directs the preparation of accurate and timely financial statements and management reports in accordance with Generally Accepted Accounting Principles (GAAP); and coordinates the annual audit and required compliance filings. This allows the CFO to focus on strategy, planning, and presenting financial results to leadership and the Board.
Essential Functions: Financial Operations and Accounting- Direct and oversee day-to-day financial operations, including general ledger, accounts payable and procurement, accounts receivable, fixed assets, credit cards, endowments, and cash management.
- Review daily postings prepared by the Accounting Lead, and review and approve journal entries, reconciliations, and other accounting activities to ensure accuracy and compliance.
- Manage cash position and treasury activity; forecast cash flow needs and ensure adequate liquidity to meet operational requirements.
- Oversee the month-end close and review monthly reconciliations so that monthly financial statements are accurate and timely.
- Establish, maintain, and improve accounting policies, procedures, and internal controls to safeguard university assets and ensure financial integrity.
Budgeting and Forecasting Oversight- Oversee development of the annual operating budget in partnership with the CFO, directing the Financial Analyst in building budget models, allocations, and departmental budgets.
- Oversee the forecast and its updates, including enrollment and credit hour drivers and marketplace volatility scenarios, and review forecast changes before they are presented by the CFO.
- Monitor budget-to-actual performance across departments and entities, investigate significant variances, and recommend corrective actions.
- Ensure monthly budget reports are delivered to each department around the 20th of the month, and support budget managers in understanding and managing their budgets.
- Maintain the budgeting system, budget calendar, and budget policies and procedures.
Financial Reporting Oversight- Oversee the preparation and review of monthly, quarterly, and annual financial statements and management reports.
- Oversee recurring reports prepared by the Financial Analyst, including Revenue / Credit Hour monthly reporting, Retail / Corporate / Guild financial statements with allocations, donor reporting (funds given, spent, and remaining), and the quarterly Finance Committee report.
- Review reporting packages for accuracy, consistency, and timeliness before they go to the CFO for presentation to the President and the Board.
- Monitor financial performance, analyze trends, and recommend strategies to improve efficiency and effectiveness.
- Lead the automation of recurring reports and dashboards from the budgeting and accounting systems.
- Lead the creation of dashboards and reports that help business managers make decisions and evaluate outcomes.
Compliance, Audit, and Risk Management- Ensure compliance with federal, state, local, regulatory, and university financial requirements.
- Organize the annual audit and serve as the primary liaison with the external audit firm, coordinating supporting documentation with the Accounting Lead and review by the CFO.
- Prepare the IRS Form 990, 403(b) plan filings, Title IX athlete report, and other required financial filings for CFO review, and support preparation of the University's Annual Financial Report.
- Maintain effective internal control systems, segregation of duties, and risk management practices.
- Monitor changes in accounting standards, regulations, and tax requirements and implement necessary updates.
Automation and AI- Lead the automation of business office processes, prioritizing work by hours saved and risk reduced, starting with an inventory of manual processes and the features already available in current systems.
- Oversee automation of routine transactions, including bank feeds with rules-based matching and coding, automated bank and balance sheet reconciliations, recurring and allocation journal entries, and a tracked month-end close checklist.
- Direct accounts payable and procurement automation, including invoice capture, electronic approval workflows for requisitions and invoices, purchase order matching, electronic payments, online vendor setup, and 1099 e-filing.
- Evaluate and implement artificial intelligence (AI) tools for financial operations, such as invoice and receipt data extraction, transaction coding, anomaly and duplicate payment detection, variance commentary, forecasting support, and drafting of recurring reports.
- Ensure AI and automation are used responsibly: outputs are reviewed by staff, decisions remain with people, internal controls and audit trails are maintained, and university data is kept private and secure in line with university policy.
- Partner with Information Technology and system vendors on integrations between the accounting, budgeting, and student account systems, and on dashboards refreshed directly from system data.
- Train and support staff in using automation and AI tools, and measure results such as time saved, error rates, and close and reporting timelines.
Leadership and Staff Development- Supervise, mentor, and develop the Financial Analyst, Accounting Lead, and Accounts Payable Manager, and through them the Business Office Administrator and part-time Accounting Assistant.
- Set priorities, review workflow, establish clear performance expectations, and provide ongoing coaching and feedback.
- Ensure cross-training and backup coverage for critical tasks such as daily postings, cash, and accounts payable.
- Foster a culture of teamwork, accountability, continuous improvement, and customer service excellence.
Process Improvement- Evaluate and improve financial systems, processes, and reporting capabilities.
- Promote automation, efficiency, and best practices across accounting operations.
- Develop documentation and maintain current accounting policies and procedures.
Additional Duties- Participate in strategic initiatives, special projects, and institutional planning activities.
- Perform other duties as assigned.
Required Competencies- Strong knowledge of accounting principles, financial reporting, internal controls, and regulatory compliance.
- Strong budgeting, forecasting, and financial analysis skills, including budget development and variance analysis.
- Ability to identify automation opportunities, apply AI tools appropriately, and lead staff through process and technology change.
- Effective leadership, staff development, and team-building skills.
- Excellent analytical, problem-solving, organizational, and decision-making abilities.
- Strong verbal and written communication skills with the ability to explain complex financial information.
- Commitment to customer service, collaboration, inclusion, and a student-centered environment.
- Ability to manage multiple priorities and meet deadlines in a fast-paced setting.
Director Competencies:- Strong knowledge of accounting principles, financial reporting, internal controls, and regulatory compliance.
- Strong budgeting, forecasting, and financial analysis skills, including budget development and variance analysis.
- Ability to identify automation opportunities, apply AI tools appropriately, and lead staff through process and technology change.
- Effective leadership, staff development, and team-building skills.
- Excellent analytical, problem-solving, organizational, and decision-making abilities.
- Strong verbal and written communication skills with the ability to explain complex financial information.
- Commitment to customer service, collaboration, inclusion, and a student-centered environment.
- Ability to manage multiple priorities and meet deadlines in a fast-paced setting.
Skills & Abilities: Education: - Bachelor's degree in Accounting, Finance, or related field required.
- Master's degree in Accounting, Finance, Business Administration, or related field preferred.
Experience:- Minimum eight (5) years of progressively responsible accounting and finance experience, including budgeting and financial reporting, required.
- Minimum three (3) years of supervisory experience leading accounting or finance staff required.
Other Requirements:- Higher education, nonprofit, or fund accounting experience preferred.
- Experience implementing finance systems, automation, or AI tools preferred.
- Advanced understanding of GAAP and financial reporting standards.
- Knowledge of budgeting, forecasting, and financial planning and analysis methods.
- Working knowledge of finance automation (bank feeds, workflow approvals, electronic payments, automated reconciliations) and of AI tools used in finance, including their risks, controls, and data privacy considerations.
- Knowledge of federal, state, and local regulations affecting higher education and nonprofit organizations.
- Demonstrated ability to analyze complex financial information and provide meaningful recommendations.
Computer Skills: Proficiency with accounting and budgeting systems, report writing tools, spreadsheets, and Microsoft Office applications.
Certificates & Licenses: CPA preferred.
Physical Demands: Stand
O
Walk
O
Sit
C
Handling / Fingering
C
Reach Outward
F
Reach Above Shoulder
O
Climb
N
Crawl
N
Squat or Kneel
O
Bend
O
N (Not Applicable) Activity is not applicable to this occupation.
O (Occasionally) Occupation requires this activity up to 33% of the time (0 - 2.5+ hrs./day)
F (Frequently) Occupation requires this activity from 33% - 66% of the time (2.5 - 5.5+ hrs./day)
C (Constantly) Occupation requires this activity more than 66% of the time (5.5+ hrs./day)
Other Physical Requirements: N/A
Work Environment:- Works in a normal office environment.
- Uses PC, calculator, and other office equipment.
NOTE: The statements above are intended to describe the general nature and level of work involved for this job. It is not an exhaustive list of all responsibilities, duties and skills required of this job. This document does not create an employment contract, implied or otherwise, other than an "at will" relationship.
