Reporting to the Vice President for Finance and Administration and Treasurer, the Associate/Assistant Vice President for Finance will provide senior leadership for a high performing finance and treasury department. The position will have oversight of various functions of campus financial reporting, planning, and fiscal transactions. The College is seeking a strategic, accomplished financial professional, dedicated to working in a mission-driven, highly collaborative environment. The successful candidate will join the management team of the Vice President and will support other financial and operational matters to be determined and as necessary.
The successful candidate must be able to communicate effectively with all constituencies of the College about the financial affairs of the College. Externally, the position is responsible for supporting relationships with financial institutions, rating agencies and peer institutions. The ideal candidate must be well versed and remain current with compliance regulations impacting college finances, laws, accounting standards and tax requirements.
Mount Holyoke utilizes a number of software programs to support the financial recording and reporting of transactions. The College is currently considering whether to embark on a major ERP transition within the next 2-5 years. The successful candidate would have an integral role in any transition.
A more detailed listing of the responsibilities of this position are as follows.
Supports the Vice President for Finance in areas of communications on financial topics across the community and serves as a finance liaison on committees.
Responsible for presenting and preparing materials for the Board of Trustees’ Finance Committee and the Audit and Risk Committee, along with other members of the Finance Team.
Serves as a Board member on the Collegiate Catalyst Fund, the College’s insurance captive.
Serves on the College Fiduciary Committee of the 403(b) retirement plans and other fiduciary committees.
Collaborates closely with the College Relations Office on various gift issues, including serving on the Gift Acceptance Committee and is responsible for trust and bequest gifts to the College.
STRATEGIC FINANCIAL PLANNING
Manages the College’s financial projection model and helps to determine strategic direction of the College.
Collaborates with various departments on setting the assumptions for enrollment, endowment, gifts, and financial aid. Works with the Budget Director to provide reporting on the budget to the Community.
Works closely with the Budget Director around the annual operating budget and aligning operating budget reporting with audited financial statement reporting.
Reviews and proposes financial policies to protect the long-term health of the College.
Along with Executive Director of Facilities and other stakeholders, oversees the preparation of the College’s capital budget request.
Oversees the endowment spending calculations and the endowment spending distributions; ensuring the College is in compliance with its endowment spending guidelines and current with state law practices.
Responsible for restricted fund management and spending.
Provides analysis in strategic planning projects, coordinating financial analysis and developing financial scenarios and projections as needed.
Provides financial analysis for major capital projects and financing strategies.
FINANCIAL OPERATIONS, COMPLIANCE AND REPORTING
Manages the work and performance of the Finance Department which is responsible for all accounting, receipts, expenditures, and financial transactions being processed and accounted for in accordance with accounting standards, internal policies, donor instructions, and management directives.
Oversees the Finance Department’s management of the College’s general ledger, accounts payable, grants and endowment fund records of the College. Ensures that financial policies and procedures are appropriate and operating as intended.
Manages the relationship with the College’s independent auditors and oversees the timely completion of the various required audits.
Oversees the preparation and timely filing of required government reports and surveys—e.g., IPEDS report, Department of Education EZ audit.
Oversees the preparation of required grant reports for government, foundations, and others.
Oversees the required tax filings including but not limited to the IRS Form 990, 990T, and 1099 forms as well as various state filings.
Collaborates with other departments that are responsible for information feeding into the financial systems; including payroll, student financial services and advancement.
Oversees the College’s banking relationships including the review of products, for banking, PCard and credit card services.
Working closely with the Assistant Treasurer, manages cash flow projections and operating cash needs of the College for the purpose of the liquidation of endowment investments to achieve desired endowment spending for the budget.
Oversees existing bond issues—i.e., manages construction fund expenditures and fulfillment of legal requirements, annual arbitrage calculations, obtain annual insurance certifications.
Manages the relationship with the bond rating agencies in conjunction with the Assistant Treasurer to obtain the most favorable rating—provides annual information, manages periodic rating reviews, monitors possible impact of financial actions on bond ratings.
Coordinates new issues or refinancing of old issues. Supports Vice President with Board subcommittee, debt planning, and negotiation of terms. Manages selection of underwriters, law firms, and trustee; preparation of legal documents; reviews with rating agencies; and final approval and marketing of issue.
10+ years of progressively responsible and related experience required.
The successful candidate will have a proven track record of communicating effectively.
In addition they will have supervisory experience, excellent analytical and organizational skills, advanced knowledge of Excel and/or Google sheets and proficiency with accounting software.
As the College is considering a major ERP transition, the experience of having held a leadership role in a system transition will be strongly preferred.
Higher education or not for profit experience is encouraged but not required.
Internal Number: 1007
About Mount Holyoke College
As the first of the Seven Sisters, the female equivalent of the once predominantly male Ivy League, Mount Holyoke established higher education for women as a serious endeavor. Our long, distinguished history of educating leaders arises from a powerful combination of: academic excellence in a global learning environment; a tight-knit, diverse, and international community; a worldwide network of influential alumnae; the conviction that women can and should make a difference in the world.