Chief Financial Officer
Qualifications: Master degree minimum or CPA; doctorate preferred; minimum of 3 years’ administrative experience. Must have a knowledge of small private higher educational institutions. Must be organized, have effective communication skills, and the ability to maintain ethical conduct in accordance with the mission and vision of OCU.
General Description: The CFO serves as the university’s chief financial administrator. The CFO directs fiscal activities of the institution in accordance to the Generally Accepted Accounting Principles (GAAP) and serves as a member of the President’s Cabinet.
- Collaborates with the CEO (President), Vice President(s), Provost, and the Fiscal Committee of the Board of Trustees.
- Collaborates with all administrative and operational offices to create and maintain a positive experience for students, staff, faculty, and other OCU community members.
- Serves on committees as requested by the CEO and Cabinet members.
- Supervises the Business Office operations.
- Collaborates with the Office of Compliance on policy development and implementation.
- Develops and oversees the processes involved with the systems of accounting, internal controls, purchasing, payrolls, and reporting maintained by the Business Office.
- Reviews staff journal entries monthly.
- Supervises Business Office personnel and accounting staff.
- Supervises the Campus Store, including personnel, inventory, purchasing, and deletion approvals.
- Supervises the Purchasing Department personnel.
- Supervises the Office of Human Resources/Payroll personnel and operations.
- Arranges for provision of financial reports, program financials, and tuition discount reports to the President, Chair of the Board of Trustees, and the Fiscal and Investment Committee Chairs on a monthly basis.
- Prepares monthly, quarterly, and annual financial statements.
- Oversees the budget process. Revises the budget process, as needed, in collaboration with the CEO, Vice President(s), Provost, and others designated by the CEO.
- Collaborates with the Fiscal Committee to provide the annual budget and realignment requests to the Board of Trustees.
- Serves as a liaison with banking partners.
- Serves as a fiduciary officer in banking transactions.
- Monitors student accounts, receivables, and collections.
- Monitors cash and reports cash availability to CEO.
- Monitors investments and endowments.
- Oversees financial policies and processes to assist in compliance with the terms of private and public grants to the university.
- Utilizes risk management and reports high-level risks to the CEO and Fiscal Committee.
- Monitors GAAP, IRS, DOL, and ED updates and incorporates compliance revisions in the OCU processes involved with the systems of accounting, internal controls, purchasing, payrolls, and reporting.
- Organizes and prepares auditing and tax reporting, collaborating with other departments as needed.
- Collaborates with other departments in the preparation of reports, e.g. accreditations, IPEDS, EZ Audit, and NCAA.
- Assists with the strategic planning process for the university as requested by the President and/or Board of Trustees.
- Develops and monitors processes to ensure integration of data collected into financial decisions/processes of the University.
- Maintains membership in professional organizations.
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