uvm_foundation_vp_and_cfo_final_position_description_2017

VICE PRESIDENT AND CHIEF FINANCIAL OFFICER October 2017 The University of Vermont Foundation’s (“UVM Foundation”) mission is to secure and manage private support for the benefit of the University of Vermont The vision of the UVM Foundation is to foster relationships with alumni and donors that maximize their personal and philanthropic investment in the University of Vermont towards the realization of the University’s aspiration to remain among the nation’s premier small research institutions Incorporated in 2011, the establishment of the UVM Foundation signaled the intent of the University of Vermont to become more engaged in the broader scope of American philanthropy The UVM Foundation is empowered to perform a wide range of services and conduct a variety of activities that support the University in its mission of teaching, research and public service With an operating budget of approximately $11 million and a dedicated staff of 75, the UVM Foundation is governed by a 26-member Board of Directors, drawn from among the University’s most generous donors, which has full fiduciary responsibility for the organization With a deep focus on securing heightened levels of philanthropic engagement, the UVM Foundation Board inspires greater support from the institution’s top donors and extends the ability of the professional staff to engage donors in fundraising efforts The President of the University of Vermont, the Chair of the UVM Board of Trustees, the President of the UVM Alumni Association, the Chair of the UVM Medical Center Foundation Board, and the President and CEO of the UVM Foundation are ex officio voting directors of the UVM Foundation Benefiting from existing economies of scale, The UVM Foundation’s approximately $90 million endowment is currently under management with the University Combined with the University’s endowment, the total pooled endowment has surpassed $520 million The Foundation holds $49 million in cash under management and has $159 million in total net assets BASIC FUNCTION Reporting to the President and CEO, the Vice President and Chief Financial Officer (“CFO”) will have primary management and oversight responsibility for all aspects of the UVM Foundation’s gift acceptance, accounting, budget planning and monitoring, revenue strategies, enterprise risk management, financial reporting, forecasting and controls, human resources and asset management The CFO will serve as a member of the Foundation’s senior management team, and be the liaison to the Finance and Investment Committee of the UVM Foundation’s Board of Directors The CFO is expected to prepare regular and recurring reports on the organization’s financial activities and present this information to the Foundation Board and Senior Staff The CFO will also need to build relationships with University of Vermont personnel and volunteers, to include the Trustees, President, Provost, senior staff and various finance units In partnership with the Executive Director of Communications, the CFO will prepare an annual report to the Board and University of Vermont focused on, but not limited to, the financial condition of the Foundation It is critically important that the CFO gain the trust and confidence of the President and the Board of Directors, communicate regularly with the Finance and Investment Committees, and serve as their partner for financial operations and other strategic matters Therefore, having the technical, as well as the human skills necessary to structure the business activities of a complex institutionally related foundation is of the highest priority IMMEDIATE PRIORITIES The Vice President and Chief Financial Officer will give priority to the following: • Quickly get to know the UVM Foundation as a whole – its leadership, culture, programs, infrastructure, finances and the substantive issues critical to the organization; understand and establish relationships within the University and the UVM Alumni Association; • Gain a comprehensive grasp of the Foundation’s current budget; become familiar with the current allocation of resources; monitor and control costs and continually drive efficiencies; understand the nuances of the Foundation’s revenue and expense structure; • Review the Foundation’s financial and investment functions; determine the systems, processes and infrastructure that should be in place and update as necessary; provide enhanced reporting and analysis which helps to inform decision-making, long-range strategic planning, creativity, flexibility and responsiveness; • Establish a strong working relationship with the Foundation’s President and Board of Directors; communicate timely and concise financial and investment information; • Develop and expand upon those relationships with the University that are currently required, but also be prepared to strategically position the Foundation for asset growth, increased complexity and a different and more independent partnership with the University going forward; • Provide sound advice and up-to-date reporting in support of the University’s comprehensive campaign; identify and track costs and projections; take a hardline look at critical decisions and keep campaign costs in check; regularly update the Board on progress and any concerns related to the campaign ONGOING RESPONSIBILITIES The Vice President and Chief Financial Officer will be responsible for the acceptance, receipt, disbursement, investment, and custody for all funds and property of the Foundation and have ongoing responsibility for the following: • Manage the Foundation’s annual budget process, monitor and enforce budgetary controls, and recalibrate as necessary; maintain accurate records of the Foundation’s financial activity, including timely production of the Foundation’s annual audit and IRS filings; review and recommend for execution by the President and CEO all contracts for investment and financial services, vendor agreements, service agreements, leases, etc.; • Guide and manage the overall provision of Human Resources services, policies and programs; the major areas under direction include: recruiting and staffing; performance management and improvement systems; organizational professional development; employment and regulatory compliance; development and training; policy development and documentation; payroll, compensation and benefits administration; • Serve as staff liaison with the Board on matters related to cash management, asset allocation and portfolio management for the endowment; coordinate with the Board Relations office on meetings, as needed, of the Gift Acceptance Committee and the Retirement Investment Oversight Committee; ensure that the management and oversite of the Foundation’s holdings by the University is appropriately balanced and diversified to meet the investment goals as articulated by the Investment Committee; • With the Controller, direct the audit process in an orderly and timely fashion and oversee the internal completion of all reports necessary for an expeditious external review; establish appropriate communications and a strong working relationship with the Foundation’s outside auditors; • Maintain an ongoing dialogue and establish a close working relationship with development staff; track annual fundraising and campaign income to ensure that budgets and revenue projections reflect the fiscal realities and direction of the institution; • Provide fiscal support and guidance to the Foundation’s revenue-producing assets; address operational and long-term business modeling needs as related to Alumni House rental events and alumni programming; with the Vice President for Alumni Relations, monitor all unrelated business activities associated with the Alumni House; • Coordinate with UVM facilities staff on the maintenance and upkeep of offices located in Grasse Mount and Alumni House to ensure a safe and professional work environment; • Develop, launch, and monitor a robust enterprise risk management process that identifies and minimizes the effects of risk and leverages opportunities related to the achievement of the Foundation’s long-term objectives IDEAL EXPERIENCE AND QUALIFICATIONS • Proven senior-level, problem-solving and planning capability and sizeable financial, investments and/or human resource responsibility in the academic/higher education, public, private or nonprofit sector; a seasoned executive who can support the Foundation by means of both strategic and hands-on financial leadership; who can overcome hurdles and handle multiple projects simultaneously; • A supreme strategist who uses his or her knowledge of finance and investments to enhance the growth of the endowment and drive strategic business decisions; prior experience as a chief financial officer, chief investment officer or the equivalent is desirable; • A dedicated leader/manager, ideally familiar with the complexities of a multidimensional academic institution; a strong professional presence, able to quickly instill a sense of confidence with numbers, consistency of reporting, transparency, financial accountability and ownership; • A collaborative and team-oriented style combined with the ability and desire to achieve a high level of productivity and success; someone who can build consensus and affect change; must impart good judgement, enthusiasm and integrity, and motivate others in the same vein; with a temperament which conveys flexibility and responsiveness, while at the same time sustaining one’s ability to be decisive and hold others fiscally accountable; • Outstanding communications skills – articulate and persuasive verbally and in writing; able to speak to finance and investments in simple and accurate terms; able to effectively relate to the Board, staff, alumni and the University community in general; • Experience in exercising discretion in a complex, evolving environment; collaborative and team-oriented style combined with the ability and desire to achieve a high level of productivity and success; • Knowledge and understanding of principles and techniques of fundraising or similar highend financial management or sales; with openness and sensitivity, embrace donor intent as appropriate; knowledge and understanding of IRS, state of Vermont, and other organization rules and regulations regarding giving; • An MBA, CPA or the equivalent is preferred; • Innovative and resourceful, with the ability to change gears and directions; creativity is preferred; emotionally mature with good judgment and a sense of humor Applications, including cover letters and resumes, and nominations should be sent to Andrew Flewelling, Senior Director of Human Resources and Talent Management, at: Andrew.Flewelling@uvm.edu