The Associate Vice President of Finance/Controller (AVP) will provide accounting leadership and serve as a strategic partner to the Vice President & CFO and Foundation Leadership. S/he will be responsible for leadership and oversight of all accounting and financial reporting and for leading, coaching and developing the accounting team. The AVP will be responsible for ensuring effective systems and procedures are in place to support efficient operations and strong controls, as well as developing technical expertise and ensuring compliance with all relevant accounting, audit and tax regulations. The AVP will provide leadership on special projects related to strategic priorities and continuous improvement. S/he will represent the Foundation in accounting operations within the University and to key constituents, including University Finance Officers, Board of Trustees and the Foundation Finance and Audit Committees. The AVP position is part of a succession plan for UMF, and is in the direct line of succession/promotion consideration for the Vice President & CFO position. Reports to: Vice President & Chief Financial Officer, Kathleen Pickard
Key Responsibilities Strategic Leadership • Provide strategic leadership in the development and implementation of sound accounting policies and performance measurement systems for the Foundation. • Assess key operating strategies from an accounting and overall business standpoint, and advise the CFO and senior leadership on developing the most effective action plans. • Provide direction for strategic objectives within accounting. • Assist the CFO with the development of fiscally sound operating, accounting, and finance plans and practices, in collaboration with others, to advance the Foundation’s mission. Accounting/Reporting • Provide leadership for accounting department leading staff in the delivery of services and ensuring strong and effective accounting functions of the Foundation. • Oversee fund administration, cash management, distributions to the University, accounts payable, scholarship and fellowship match program administration, monthly investment income allocation and deferred gift administration. • Deliver accurate and timely key internal and external financial reports. • Drive performance through effective analysis to identify key drivers of success. • Develop strategies and plans for key UMF projects and initiatives. • Manage financial support services for effective facilitation of stewardship reporting. • Work with the Donor Relations department to meet Foundation strategic reporting goals. • Facilitate accurate and timely delivery of all special information requests from donors. Relationship Leadership • Maintain effective relationships with financial and development executives of the University and affiliated organizations. • Support and interface with Foundation affiliates, University of Minnesota Investment Advisors (UMFIA) and University of Minnesota Real Estate Advisors (UMFREA), to provide effective client services. • Maintain effective relationships with banks and trust custodians. Compliance • Ensure Foundation compliance with complex nonprofit and IRS regulations, endowment trust law, GAAP (Generally Accepted Accounting Principles), FAS (Financial Accounting Standards) and all related audit requirements. • Manage the annual audit process and facilitate the UMF Audit Committee meetings. • Facilitate related University disclosure requirements. • Ensure accurate and timely preparation of all required tax filings including 990’s, 990-T’s, 1099’s, trust returns and K-1’s, gift annuity filings and Secretary of State and Attorney General reports. • Ensure endowment funds are managed in accordance with the provisions of UPMIFA (Uniform Prudent Management of Institutional Funds Act). Enterprise Risk Management • Lead the Foundation Enterprise Risk Management Process to ensure safeguarding of assets, appropriate risk management and operational effectiveness. • Ensure processes and procedures are well documented, communicated and implemented. • Coordinate and facilitate all internal control audits and ensure that recommendations are appropriately addressed. Information Systems • Partner with Information Systems staff to plan, design, test, implement and maintain effective accounting and fund administration software. • Ensure data integrity for all financial systems. • Manage timely and accurate data exchange with the University’s financial systems. People Leadership • Actively participate in recruitment, selection, training, coaching and ongoing evaluation of accounting staff. • Ensure adequate cross-training is implemented and maintained for all critical functions. • Identify staff training and development opportunities and coach, mentor and support individual staff members in their professional development.
Ideal Candidate Profile The ideal candidate will be a strategic financial leader with a strong accounting background. S/he will be a systems-thinker with strong business and financial acumen and the ability to translate ideas into operational objectives. The ideal candidate will possess a passion for the power of philanthropy and mission-driven organizations to transform communities and the world. S/he will be intellectually curious, versatile and savvy with the ability to understand and maneuver within complex/matrixed organizational structures. A strong customer service orientation and commitment to Continuous Improvement are critical. The ideal candidate will have experience balancing big picture strategic leadership and driving day-to-day operations. S/he will be a true business partner and possess a track record of developing and implementing financial strategies that support the achievement of long-term organization objectives. Proven team leadership capability, including assessing and developing talent is critical. S/he will be a collaborative leader by nature and possess well developed interpersonal skills as well as the ability to create and foster a culture of trust and collaborative decision making. This leader will be decisive and approachable with a demonstrated ability to build successful relationships across all levels of an organization. The ability to build and maintain collaborative relationships with key partners and naturally demonstrate an executive presence that both conveys confidence and engenders trust are also critical to success. Proven ability to manage conflicting priorities and requests and exercise authority to ensure that goals are met coupled with the ability to take initiative and function independently and as part of a team is critical. Excellent verbal and written communication skills, including effective presentation skills and extensive experience with technology are desired. A minimum of twelve years of foundational expertise in accounting, audit, tax and financial reporting is required, along with a minimum of five years previous management experience of professional financial and/or accounting staff. Expertise in financial planning and analysis is preferred. A broad finance and public accounting background and successful track record of progressive strategic leadership with a combination of corporate and/or large nonprofit experience is ideal. Experiences within Higher Education and working with a governing board and audit committee are helpful. A Bachelor’s degree in Accounting, Business Administration, Finance, or related field is required. CPA/CMA, MBA or other advanced degree is highly desirable. A strong work ethic, clear demonstration of honesty and integrity, and the highest ethical standards are assumed.
Bachelors degree required in business administration, finance or accounting.
A minimum of 12 years progressive experience in accounting services, including administration, audit and tax.
A minimum of five years previous management experience.
Strategic thinking with ability to translate to operational objectives.
Proven project management skills and cross functional team leadership.
Excellent verbal and written communication skills.
Demonstrated management and leadership experience.
Extensive experience with PC’s, spreadsheet packages and accounting software systems.
Excellent interpersonal skills with the ability to establish and maintain relationships at all organizational levels.
Ability to manage multiple priorities and requests and exercise authority to ensure goals are met.
Ability to take initiative and function independently and as part of a team.
Advanced degree such as an MBA or CPA
Internal Number: 330558
About University of Minnesota, Twin Cities
The University of Minnesota, founded in the belief that all people are enriched by understanding, is dedicated to the advancement of learning and the search for truth; to the sharing of this knowledge through education for a diverse community; and to the application of this knowledge to benefit the people of the state, the nation, and the world.