Vice President for Finance and Administration, Bentonville Institute of Technology

Job Description:

Job Title: Vice President for Finance and Administration, Bentonville Institute of Technology
Reports to: Executive Vice President for Finance and Administration
FLSA Classification: Exempt

Location: Bentonville, Arkansas (On-site)

About Bentonville Institute of Technology

Bentonville Institute of Technology (BIT) is a new higher education institution being developed in Bentonville, Arkansas to advance new models of STEM education and workforce development. The university is designed to deliver a flexible, experiential educational model that combines rigorous STEM instruction with an entrepreneurial and business-infused mindset.

The institution will focus on areas such as artificial intelligence, automation and robotics, mobility, health technology, energy systems, and entrepreneurship. Through strong partnerships with industry and regional organizations, the University aims to prepare students with practical, high-demand skills needed for the evolving knowledge economy.

The university will develop a distinctive educational model based on experiential learning, stackable credentials, flexible entry and exit pathways, and strong industry engagement. The University plans to enroll its first undergraduate class in 2029 and establish a new national model for innovative STEM higher education. Additional information about the university's founding vision can be found here: https://www.bentonvilleinstituteoftechnology.org/

Initially, faculty and staff will be hired by Art and Wellness Enterprises and immersed in a broader ecosystem on the Crystal Bridges Campus for Art and Wellness, providing shared operational services and subject matter expertise, in close proximity to the Alice L. Walton School of Medicine (AWSOM).

Founding Context

• Art and Wellness Enterprises (AWE) provides shared services including payroll processing, treasury, Workday platform administration, and accounts payable workflow support; this role owns institutional financial control, budget authority, accounting close, financial reporting, and the bursar function, and manages the shared-services boundary.
• Title IV federal student aid eligibility is a future capability; the Vice President for Finance and Administration must design the financial infrastructure to operate without federal aid and to adopt it smoothly when eligible.
• A five-term academic year (five eight-week terms) multiplies billing, payment, and reconciliation cycles relative to traditional semester institutions; student accounts and bursar workflows must be architected for this cadence from the outset.
• Workday Finance and Human Capital Management (HCM) are the selected financial and human capital management platforms; the Vice President for Finance and Administration will be a primary functional owner of the University's chart of accounts and how the University utilizes Workday and the student information system, which has not yet been chosen.
• This is an artificial intelligence (AI)-native institution; the Vice President for Finance and Administration is expected to design finance workflows with AI automation embedded at their core-not added on-from initial buildout.
• All finance systems, integrations, and vendor platforms must be architected for interoperability with AWE shared-services infrastructure; standalone systems that cannot integrate with AWE platforms are not viable solutions.

About The Position

The Vice President for Finance and Administration serves as Bentonville Institute of Technology's senior financial officer and Controller of record. This position owns the full spectrum of institutional finance operations, including budgeting, accounting, financial reporting, bursar services, accounts payable, student accounts, and contract management, while serving as the primary institutional counterpart to the AWE shared services finance team.

This is a hands-on leadership role responsible for designing processes, selecting and configuring tools, building the finance team, and establishing a finance function capable of supporting the University through pre-accreditation operations, the first undergraduate cohort, and the multi-year pathway to accreditation and Title IV eligibility. The position balances financial strategy and leadership with direct execution in a lean, developing institutional environment.

The Vice President for Finance and Administration serves as the University's financial officer of record. The AWE finance team provides shared services support, including payroll processing, treasury, limited financial reporting, and Workday platform administration, while accreditation criteria require that core accounting, financial control, and bursar functions remain under direct institutional authority. This role supports those requirements while building the University's own finance capability over time.

Success in this role requires strong financial leadership and technical accounting expertise, sound judgment, adaptability, and the ability to build effective financial processes, controls, systems, and teams in a developing institutional environment.

Essential Duties and Responsibilities

Controller Function and Financial Integrity

• Serve as the University's Controller of record, owning the general ledger, chart of accounts, and accounting close process in partnership with the AWE finance team operating under the shared-services master services agreement (MSA).
• Maintain institutional financial controls that satisfy accreditation criteria, generally accepted accounting principles (GAAP) for nonprofit organizations, and-when applicable-federal Title IV regulations and Office of Management and Budget (OMB) Uniform Guidance.
• Ensure arm's-length discipline in the AWE relationship: direct the AWE finance team's deliverables, review all outputs, and retain institutional authority over financial decisions, representations, and filings.
• Oversee audit readiness; serve as primary staff liaison to the external auditor; coordinate with AWE on the annual audit and preparation of audited financial statements.
• Build and maintain a sound internal control environment with an eye toward continuous improvement.
• Leverage AI tools and automation throughout the finance function-close workflows, variance analysis, reconciliation, and reporting-to maximize output in a lean staffing environment; AI-augmented processes are expected from initial build, not deferred.
• Own the functional design of the University's finance systems to ensure interoperability with AWE shared-services infrastructure, Workday enterprise resource planning (ERP), MuleSoft integration layer, and Snowflake data platform; no finance system may be selected or configured without validating AWE integration compatibility.

Budget Development and Management

• Lead the annual institutional budget process from calendar through approval: coordinate with division leaders, conduct scenario modeling, prepare board presentation, and support formal adoption.
• Maintain the operating budget in Workday Financials, monitor actuals versus budget, and produce monthly variance analyses with narrative for senior leadership.
• Partner with executive and AWE finance leadership on multi-year financial modeling, capital planning assumptions, and accreditation-phase financial projections.
• Develop and enforce budget policies and delegation-of-authority thresholds consistent with the Board-adopted Delegation of Authority policy.
• Support grant budget development for federal and private grant applications; ensure compliance with sponsor-specific financial requirements.

Financial Reporting

• Produce accurate, timely internal financial statements and management reports on a monthly and quarterly cycle.
• Prepare board-quality financial reporting packages for presentation to the Board.
• Manage Integrated Postsecondary Education Data System (IPEDS) financial reporting submissions, state financial reporting to the Arkansas Division of Higher Education (ADHE), and other external compliance filings.
• Coordinate with the AWE treasury function on cash positioning, investment reporting, and draw schedules for philanthropic capital.

Bursar and Student Accounts

• Establish and lead the bursar function, including student account setup, billing, payment processing, institutional aid posting, and collections.
• Design and administer the student accounts framework in the student information system, including integration with the enrollment customer relationship management system and student billing workflows calibrated to the five-term academic calendar.
• Develop student-facing financial policies, billing calendars, payment plan options, and refund procedures in accordance with institutional policy and, when applicable, federal regulations.
• Serve as the institutional liaison for student financial matters prior to and following the activation of Title IV federal student aid eligibility.

Accounts Payable

• Oversee all accounts payable activity, including invoice processing, payment runs, vendor setup, and 1099 compliance, primarily through the AWE shared-services accounts payable workflow in Workday.
• Establish accounts payable policies governing approval workflows, payment terms, and segregation of duties appropriate to a startup institution with lean staffing.
• Monitor accounts payable aging, resolve vendor disputes, and enforce payment-term compliance across institutional departments.

Contract Management

• Build and administer the University's contract management function, including a contract register, routing and approval workflow, and execution tracking-coordinating with legal counsel for review.
• Manage the vendor contract lifecycle from request for proposal through execution, amendment, renewal, and termination; ensure financial terms, insurance requirements, and performance milestones are reflected accurately.
• Maintain the institutional contracts library; flag renewal deadlines, termination windows, and financial commitments to appropriate leadership.
• Partner with technology and operations on vendor management for major technology contracts to ensure alignment with the AWE MSA governing technology shared services.
• Perform other duties and responsibilities as assigned to support evolving organizational needs.

Team Leadership

• Build and provide clear leadership and direction, establishing expectations and priorities to support evolving needs and objectives.
• Lead, coach, and develop a high-performing team, fostering a culture of excellence, accountability, and growth.
• Promote continuous improvement, professional development, and collaboration to drive results and support organizational priorities.
• Support the recruitment, onboarding, and training of new team members to ensure alignment with organizational standards and practices.
• Monitor and manage team performance, providing ongoing feedback, coaching, and support to address performance needs and recognize achievements.
• Monitor team engagement and workload, addressing challenges proactively and professionally while encouraging recognition and support.

Qualifications and Requirements

Education and Experience

• Bachelor's degree in accounting, finance, or a closely related field required. Graduate degree in business administration, accounting, public administration, or a related field preferred.
• Certified Public Accountant (CPA) or equivalent professional designation required.
• 12-15+ years of progressive financial management experience, including 5+ years in a Controller, Assistant Controller, or comparable institutional finance leadership role.
• 8-10+ years of progressive leadership experience leading and developing teams, including direct responsibility for staff supervision, performance management, coaching, and professional development, including oversight of managers and senior-level leaders.
• Demonstrated experience owning institutional budget development, financial statement preparation, and external audit management.
• Experience in higher education finance, including familiarity with accreditation financial criteria, preferred.
• Experience managing or closely coordinating with shared-services or outsourced finance functions, with documented retention of institutional control and accountability.
• Experience establishing a bursar or student accounts function at a new or significantly restructured institution preferred.
• Experience with Workday Financials and student information system financial integration preferred.
• Familiarity with contract lifecycle management tools and procurement policy in a higher education context preferred.
• Experience deploying AI-powered tools in a finance or higher education context (e.g., AI-assisted close processes, automated variance reporting, Workday Prism Analytics, or workflow automation platforms); demonstrated ability to evaluate and select AI tools with AWE platform compatibility in mind, preferred.

Skills and Abilities

• Proficiency with enterprise financial systems; Workday Financials experience strongly preferred.
• Working knowledge of GAAP applicable to nonprofit organizations and fund accounting principles.
• Demonstrated ability to design and enforce internal controls, financial policies, and compliance frameworks.
• Familiarity with federal Title IV student financial aid regulations and OMB Uniform Guidance (2 Code of Federal Regulations [CFR] Part 200), in preparation for the University's planned pursuit of federal aid eligibility.
• Exceptional communication skills-able to translate financial information clearly for non-financial audiences, including executive leadership and board members.
• AI fluency-hands-on experience or willingness to learn applying AI tools to financial workflows, scenario modeling, reporting automation, or process improvement; the University's lean staffing model demands AI-augmented producti