Acara has an opportunity for an Interim VP of Finance and Operations role. This is a contract position (50% remote, 50% travel to Indianapolis) set to run through October, compensation of up to $100/hr DOE.
Reporting directly to the President, the Vice President of Finance and Operations is a key member of the senior management team of the school, directing financial, business, and operations functions and offering advice and guidance in a collaborative, team-based environment.
The VP of Finance and Operations maintains oversight of the accounting and financial reporting, budgeting, HR/payroll, IT, legal compliance, audit, grant management, student and counseling client billing, financial aid (Title IV), Title IX and Clery Act compliance, risk management, student housing, endowment and asset management, security and emergency planning, and facility management.
The VP of Finance and Operations is the primary staff person assigned to the Finance and Business Affairs Committee of the Board of Trustees. The VP will provide regular reports and data and upon request for the work of the administration and trustees and to support the quantitative tracking of the strategic plan and Institutional Scorecard.
Responsibilities also include direct supervision of the following staff: Finance Manager, Accounting Manager, Payroll Manager, IT and Facilities Director, Financial Aid Manager; external auditors, HR Consultant, external legal counsel, and IT vendors.
Essential Job Responsibilities:
● Oversee all systems of accounting and financial record keeping and reporting.
● Ensure compliance with GAAP, UPMIFA, and all tax reporting requirements.
● Transfer money as needed to fund cash flow needs; move money to and from endowment and restricted funds as necessary.
● Provide monthly financial reports to each department, the President, and the Executive Committee of the Board. Prepare quarterly reports for the Finance and Business Affairs Committee and the full Board.
● Oversee student billing (tuition (net of financial aid), housing, bookstore) and Counseling Center client billings.
● Prepare and issue financial statements to president, vice presidents, department directors and trustees on a monthly basis.
● Perform analysis of monthly financial statements and budget variance reports and provide findings and recommendations to President, Board of Trustees, and administrative staff.
● Prepare and issue budget variance reports monthly.
● Track all grant costs and releases from restriction.
● Provide timely accurate grant reports to donors.
● Administer school’s budget program by preparing and consolidating budget data from all departments.
● Prepare budget, setting budget priorities based on revenue goals (tuition, grants, gifts, and endowment draw).
● Prepare the annual capital budget.
● Assist president and trustees with preparation of long-range capital budget as needed.
● Prepare at least one mid-year forecast of year-end results prior to the budget process.
● Manage all benefit programs.
● Oversee all HR policies, including Employee Handbook, hiring process, goal-setting, performance reviews, onboard and off-board processes.
● Help department leaders assess and optimize human capital deployment.
● With direct reports, ensure proficiency of staff in the Seminary software.
● Oversee training and cross-training of staff in functions of the business office to ensure capacity during vacations, times of illness, and peak workload periods.
● Ensure continuing education of staff regarding all accounting and reporting areas.
● Ensure adequate internal controls remain in place and address any audit issues that arise.
● Serve as point of contact for and cooperate with the public accountants of the school.
Board of Trustees
● Monitor and report on investments in cooperation with investment managers to the President, Investment Committee, Board of Trustees, and administrative staff.
● Prepare any special reports for the Board of Trustees as requested by the President, Chair of the Board or Chair of Finance and Business Affairs Committee.
● Manage the IT execution, including management of the relationship with the outside provider, classroom tech, and software decisions
● Ensure the IT environment is protected and appropriately backed up, including a current contingency plan.
Endowment and Assets
● Coordinate reporting of investment managers to the Investment Committee, President and Board of Trustees.
● Coordinate and maintain current inventory of all assets of the seminary, including technology equipment, library, art, and historical resources, etc.
● Verify that adequate insurance coverage is in place for these items and that condition is maintained.
● Oversee rentals of facility to outside groups. Collaborate with Executive Council in establishing policies. Maintain schedule of both internal and external events.
● Work with chair of the Finance and Business Affairs Committee of the trustees and any sub-committees of the trustees on projects to develop real estate should the need arise.
● Coordinate with VPAA/Dean, Director of Admissions, Advancement Office and administration the total financial aid and endowment draw available and its allocation according to the mission and enrollment targets of the seminary.
● Implement Title IV loan and work study and ensure compliance with regulations, including providing counseling to prospective borrowers.
● Oversee Financial Aid policies in collaboration with members of the Executive Council.
• Bachelor's degree required
• Prefer MBA or CPA
• At least five years of fund and/or accounting management in a higher education institution required
• Demonstrated experience with endowment fund management, scholarship, and federal student aid required
• Not-for-profit or equivalent experience