Associate Vice Chancellor for Finance and University Treasurer
North Carolina State University
Location: Raleigh, North Carolina
Type: Full Time
Required Education: 4 Year Degree
Internal Number: 3298749
Associate Vice Chancellor for Finance and University Treasurer
Posting Number: PG191914EP Internal Recruitment: No Anticipated Hiring Range: Commensurate with credentials, qualifications, and experience Work Schedule: Monday - Friday 8:00am - 5:00pm plus as needed, with some travel Job Location: Raleigh, NC Department: Finance Division
About the Department NC State University is one of the nation's leading public land-grant universities and research institutions, and home to more than 36,000 undergraduate and graduate students, and over 9,600 faculty and staff across 12 colleges. The university seeks an experienced and strategic Associate Vice Chancellor for Finance and University Treasurer, to lead the customer-focused and compliance-oriented Finance Division, responsible for financial services, business operations, and university investments across the multi-billion dollar university enterprise.
In its 2022 survey, Forbes recognized NC State as the top large employer in North Carolina. NC State strives to be an "Employer of Choice" within a competitive region. The university's strong and inclusive workplace culture depends on engaged employees, a vibrant workplace experience, and strong collaboration.
Finance Division The NC State Finance Division supports core financial services across all university colleges, units and entities, working with all units to ensure compliant and effective administration of university financial services and business operations. Automated financial systems, procurement e-tools, standard operating procedures, and performance-based customer service metrics are the hallmarks of the division, ensuring successful financial reporting, accounts receivable, accounts payable, payroll, and procurement operations. In addition to core financial services and operations, the division provides direct customer-facing services including student billing and accounts, self-service printing services, surplus operations and public surplus sales. The division partners with research operations, to develop funding strategies for long-term, multi-million dollar university strategic initiatives, and to ensure compliant post-award financial management of sponsored research. The division works closely with the university's affiliated entities, to ensure effective management, compliance and investment strategies are applied, investing approximately $2.4B across 13,000 funds; and managing the university's $2B endowment. Five departments comprise the division, employing a 170-person workforce:
• University Controller's Office,
• University Cashier's Office,
• Procurement & Business Services,
• Office of Contracts and Grants,
• Foundations Accounting and Investments.
Essential Job Duties
The Associate Vice Chancellor for Finance and University Treasurer is responsible for providing strategic, innovative and collaborative leadership to advance a compliant, effective and customer service-oriented approach to financial services, business operations and investments; working closely with stakeholders throughout the university to ensure best practices, optimal service delivery and adherence to NC State, UNC System, state and federal regulations. The Associate Vice Chancellor for Finance and University Treasurer reports to the Vice Chancellor for Finance and Administration, who leads 1600+ employees across seven divisions, responsible for university finance, administration and operations. The Associate Vice Chancellor responsibilities include:
Strategy and Leadership
• Serve as a key strategic leader in the implementation of NC State's new strategic plan, Wolfpack 2030: Powering the Extraordinary; primarily focused on Goal 5: Improve university effectiveness through transformative technologies, cutting-edge processes and actionable data; and Goal 6: Lead in developing innovative partnerships, entrepreneurial thinking and applied problem-solving.
• Advise university leadership on financial and investing matters, in the best interest of the university; engage routinely with the Chancellor, Provost, Cabinet, College Deans, NC State Board of Trustees and other senior university officials and their staff.
• Collaborate with university entities to implement financial best practices throughout all levels of the university, and across all colleges and units; working regularly with the Office of General Counsel, Internal Audit, Budget and Resource Management, University Human Resources, the Office of Research and Innovation, Athletics, University Advancement, Facilities, Campus Enterprises, and University Real Estate and Development.
• Serve on university task forces and committees, in support of strategic initiatives, governance and compliance matters, and process improvement/university effectiveness efforts.
• Represent the university to external stakeholders including financial institutions, ratings agencies, UNC System, State of North Carolina Office of the State Controller, State of North Carolina Office of the State Auditor, and professional organizations.
Oversight of Financial Services and Business Operations
• Develop strategies and provide operational oversight to effectively deliver financial services and business operations, aligned with the university's strategic plan and industry best practices.
• Foster an atmosphere of integrity, compliance, accountability and ethics in decision-making, and ensure best practices including but not limited to FASB and GASB reporting standards, as well as UNC System and NC State policies, regulations, rules, and guidelines.
• Deploy technologies and automation to drive university effectiveness, improve compliance and reduce risk, including streamlined financial processing and reporting.
• Implement business intelligence tools to support data-driven decisions across the university, partnering with university entities to integrate financial, budget, human resources, student enrollment, tuition and fees and similar data analytics, visualization and reporting capabilities.
• Oversee $2B in financial services and transactions across the university, including the University Controller's Office functions such as accounts payable (including 90,000 vendor payments annually), accounts receivable, cash management, capital asset management, debt issuance, tax policy, financial reporting and internal controls; ensure consistent, accurate and timely payroll services to faculty and staff consisting of 11,000 monthly and 14,000 bi-weekly payments of wages to employees.
• Oversee $560M in student billing and all aspects of the University's Cashier's Office, as part of the cross-functional Student Services Center; ensure accurate student billings, collection and financial aid disbursements along with high-quality and timely customer service; and responsible for departmental deposits by university entities.
• Oversee operations of the Office of Contracts and Grants, which manages post-award administration for university-sponsored research, including financial management of sponsored research, time and effort system certifications, state and federal compliance, audit and necessary policies, standard operating protocols, and training; and works closely with research administrators, faculty and staff to ensure effective and compliant financial administration of grants.
• Oversee Procurement & Business Services operations, including establishing procurement protocols and contracts review processes, to ensure effective operations and mitigate risk; procurement of university goods and services; expanding payables automation; managing central receiving operations including disposition of university surplus property; and providing self-service print/copy/scan stations for students and administrative offices.
• Implement training, education, and skills development programs to promote an informed and compliant community of stakeholders and customers.
• Ensure the integrity of the university's financial systems and compliance with NC State, UNC System, and state and federal regulations.
• Responsible for financial reporting tasks including producing the university's Annual Financial Report, and coordinating audit reports by the State of North Carolina Office of the State Auditor (State Auditor Report and the Single Audit Report) and Office of the State Controller (The State of North Carolina Comprehensive Annual Report).
Management of Investments and Endowment
• Oversee Foundations Accounting and Investments, with fiduciary oversight of endowments and related investment vehicles.
• Partner with university entities to employ best practices, and a prudent and compliant approach to stewarding university investments and resources.
• Provide investments, financial reporting, budgeting, accounting and corporate governance oversight for eight university-related foundations or fundraising entities, the NC State Investment Fund, Inc. (NCSIF), the Endowment Fund of North Carolina State University, the NC State Partnerships Corporation, nine subsidiary LLC's, and a non-profit subsidiary of one of the foundations; providing substantial resources to support the university (approximately 13,000 funds with a combined market value in excess of $2.4B, and an endowment of $2B, which will contribute $65M in university spending for FY23).
• Serve as Assistant Treasurer of the Board of Trustees of the Endowment Fund of North Carolina State University and the NC State Investment Fund, as well as, treasurer (or assistant treasurer) for several associated fundraising entities and limited liability corporations established to support NC State University.
• Serve as President for the NC State University Partnership Corporation, a 501( c )( 3 ) with nine LLCs.
• Advise executive university leadership, including the Chancellor, Provost, Vice Chancellor for Finance and
• Administration, General Counsel, College Deans, NC State Board of Trustees, and Board of Trustees of the Endowment Fund of North Carolina State University, on complex funding mechanisms in support of growing university endowments and funding for strategic, multi-million dollar initiatives.
• Oversee foundation financial accountability and audit/tax compliance, including audit reporting.
Treasurer Duties, Strategic Debt and Cash Flow Management
• Responsibility for managing the university's financial affairs and keeping university leadership apprised of NC State's financial condition.
• Advise university leadership on strategic, complex, and high-risk financial matters.
• Ensure sound fiscal policies are created, adopted, published and followed to ensure proper recording of financial transactions, controls and audits, billings and collections, and protection of university assets and resources.
• Responsible for cash management and monitoring of cash flow; establish capital debt planning, issuance and strategies.
• Manage $600M external debt portfolio.
• Monitor credit ratings as influenced by debt capacity and debt issuance.
• Manage external banking relationships, relationships with investment managers, etc.
• Ensure the university's positive reputation through strong credibility, accountability and compliance in regard to debt financing.
• Oversee financial reporting requirements for all associated entities including independent audits.
Collaboration, Communication and Engagement
• With university partners, provide innovative leadership to advance integrated, effective, customer service-oriented solutions in support of NC State's strategic initiatives.
• Collaborate with all university entities to ensure effective and compliant university financial administration, including University Human Resources, Budget and Resource Management, Office of Research and Innovation, the Provost Office and Colleges, Enrollment Management and Services, and University Advancement.
• Provide timely and accurate communications regarding financial policies, processes, programs, and compliance across university constituents and stakeholders.
• Develop programs to educate constituents, drive compliance and promote an effective workforce across the university.
• Advise university executive leadership and the NC State Board of Trustees on financial strategies and investment matters; serve as finance liaison to the NC State Board of Trustees – Audit, Risk Management and Finance Committee.
• Serve on university advisory and governance committees as assigned.
Managerial and Supervisory Responsibilities
• Oversee operations, services and employees across five Finance Division departments: University Controller's Office, University Cashier's Office, Procurement & Business Services, Office of Contracts and Grants, and Foundations Accounting and Investments.
• Provide senior leadership oversight, career development, and performance management to employees within the division, designed to support a highly productive and knowledgeable workforce force focused on employee engagement, customer service and resource stewardship as defined by the Office of Finance and Administration's Principles of Work.
• Collaborate with the Office for Institutional Equity and Diversity and University Human Resources on strategic, process and workplace culture initiatives designed to recruit and retain a diverse and talented workforce.
• Other duties as assigned.
The Associate Vice Chancellor serves as one of the university's leaders, providing vision and strategy in support of NC State's new strategic plan, Wolfpack 2030: Powering the Extraordinary. The Associate Vice Chancellor serves as a key financial advisor to university leadership; and collaborates with university entities to ensure a compliant, effective and customer service-oriented approach to financial services, business operations and investments across the university. The Associate Vice Chancellor leads the Finance Division, oversees the five departments comprising the division (noted above), and is responsible for all aspects of managing the division's workforce. The Associate Vice Chancellor reports to the Vice Chancellor for Finance and Administration and joins six other Associate Vice Chancellors in promoting the Principles of Work (employee engagement, customer service, responsible stewardship) throughout the Office of Finance and Administration, and NC State. Other Responsibilities
• Minimum Education and Experience • Requires a relevant post-Baccalaureate degree with a minimum of three (3) years or greater of related professional experience, or a relevant undergraduate degree and a minimum of five (5) years or greater of relevant experience may be substituted for the advanced degree. All degrees must be from appropriately accredited institutions.
• Other Required Qualifications The successful candidate will possess most, if not all, of the following qualities or experience:
• Demonstrated strategic and visionary leadership experience in enhancing the financial services, business operations and investments within a large, complex organization.
• Evidence of innovative process improvement strategies and successful implementation; and the ability to conceptualize the impact of operational and policy impacts across an organization.
• Strong financial acumen and proven experience managing financial services and operations across a large, complex organization; broad knowledge of state and federal regulations specific to financial services and operations, as well as best practices across higher-ed institutions and the public sector, or similar organization.
• Excellent judgment and successful track record in assessing complex financial strategies, such as developing long-term funding models and/or managing multi-million dollar investment portfolios.
• Strong leadership, operational, collaboration and communication skills, including the ability to effectively communicate and establish good working relationships with a wide range of diverse constituencies at all levels; and the ability to communicate complex financial matters.
• Successful experience in leading cross-departmental projects including large-scale system and process enhancements.
• Demonstrated experience managing business intelligence tools and cross-functional data analytics efforts.
• Excellent resource management and planning skills.
• Demonstrated commitment to employee engagement, customer service, and responsible stewardship.
• Experience supervising large teams across multiple departments, including experience in implementing career development strategies and employee retention tactics.
• Demonstrated commitment to enhancing and promoting diversity, equity, inclusion, belonging and well-being within the workplace.
• Highest degree of integrity, professionalism and the ability to maintain confidentiality.
Preferred Qualifications • Preference will be given to candidates with the following qualifications:
• Bachelor's degree with relevant advanced degree preferred. Master's degree and CPA (or similar credential such as MBA or MPA) highly desirable. All degrees must be from appropriately accredited institutions.
The successful candidate will likely possess 10-15 years of applicable, increasingly complex, and successful senior leadership experience.
Extensive knowledge of higher education finance preferred.
Financial services and/or business operations leadership experience in higher education or equivalent organization is highly desirable.