The Texas Tech University System, under the transformative leadership of Chancellor Tedd L. Mitchell, M.D., seeks an innovative servant leader with proven experience, comprehensive knowledge and shared values to join the TTU System Administration as Vice Chancellor and Chief Financial Officer.
Additional information, including a detailed prospectus, about this position may be found at: https://www.texastech.edu/employment-searches/2022-cfo-vc-prospectus.pdf
Reporting directly to the Chancellor and serving as an integral member of the executive leadership team, the Vice Chancellor and Chief Financial Officer (CFO) is responsible for the overall financial strength and stability of the Texas Tech University System and has a strategic role in the organization’s overall management. In this role, the Vice Chancellor and CFO is responsible for overseeing fiscal and fiduciary responsibilities and coordinates with the CFOs of the five component institutions on all system-wide finance and various administration matters.
For Fiscal Year 2022, the annual budget for the TTU System and all five component institutions is approximately $2.5 billion. The direct annual budget for the TTU System Administration is $26.6 million in Fiscal Year 2022.
Additionally, the Vice Chancellor and CFO provides direct leadership to multiple offices and services at the TTU System Administration, and serves as the treasurer of the Texas Tech Foundation, Inc.
• Serves as a collaborative partner and servant leader on the TTU System Administration’s executive leadership team.
• Serves as a financial liaison and engages with the Board of Regents on issues, opportunities, trends and changes in finances and operating models.
• Provides reports and briefings to standing committees of the Board of Regents, in coordination with system and component leadership, related to finance, facilities, audit and investment matters.
• Manages the collective debt issuance, structure, and credit ratings for the TTU System.
• Oversees a diverse financial portfolio and various services and offices coordinated at the TTU System Administration.
• Manages the completion and submission of the TTU System’s annual financial report and consolidated annual financial report.
• Supports the management and performance of the TTU System’s combined $1.7 billion endowment and coordinates with the endowment’s Investment Resource Council.
• Serves as the Treasurer of the Texas Tech Foundation, Inc., with assets of approximately $840 million, and provides support as necessary to other foundations affiliated within the TTU System.
• Supports the legislative and state appropriation processes, in conjunction with the Office of Governmental Relations, to advance the TTU System and component institutions.
• Manages the TTU System Administration’s cash flow through the organization and maintains the integrity of funds.
• Coordinates the annual budget and budget planning process at the TTU System Administration in conjunction with strategic goals and needs.
• Develops and sustains credibility of the finance divisions by providing timely and accurate analysis of budgets, financial reports and trends, and forecasts to assist leadership.
• Enhances, develops, and implements policies, procedures and regulations as means to strategically enhance financial performance and business opportunities.
• Recommends, evaluates, and advises on the impact of long-range planning, introduction of new
programs, strategies, revenue sources and regulatory action.
• Establishes and maintains integral relationships with senior executives and leadership to identify needs and seek solutions to business challenges.
• Develops and upholds effective internal financial controls to support compliance with applicable
federal, state, system and university laws, regulations and policies.
• Participates in establishing yearly financial and business objectives and engages outside consultants, as necessary.
• Represents the organization internally and externally, as necessary, particularly in financial, lease and contract negotiations.
• Maintains continuous and open lines of communication, keeping leadership informed of all critical issues.
• Completes annual evaluations of direct reports, providing opportunities for professional and personal growth.
• Carries out other leadership duties and responsibilities as assigned by the Chancellor.
The TTU System seeks an experienced, respected and strategic financial leader with the following:
• Bachelor’s degree in appropriate field based on assigned area of responsibility.
• Ten (10) years of professional and management experience in related area.
• Additional job-related education may substitute for required experience on a year-for-year basis
• Advanced degree in finance or accounting from an accredited institution, MBA, MAcc and/or other professional accreditation such as CPA.
• Ten (10) or more years of experience in a fiscal leadership role within a university or higher education system, particularly in Texas.
• Demonstrated expertise in financial management and forecasting to evaluate industry-specific fiscal conditions (current and future) and guide policy and business decisions.
• An alignment with the TTU System’s values-based culture.
• Proven ability to lead and achieve change and improve processes and systems in a large, multi-area organization.
• Proven ability to work with a sense of urgency and towards action in a fast-paced environment with shifting priorities.
• Proven ability to perform willfully and be unfailingly diplomatic in a high-pressure and complex environment.
• Proven ability to communicate effectively with a wide variety of constituents.
• Understanding of the changing landscape in higher education and workings of a large university system, along with knowledge of and/or experience with the business operations of large and comprehensive organizations.