Financial Management

FINANCIAL MANAGEMENT

Knowledge, Skills, and Abilities (KSAs): Knowledge of accounting theory and Generally Accepted Accounting Principles (GAAP). Knowledge of the strategic planning process. Demonstrated skills in planning, organizing, directing, and facilitating. High level of consulting, problem-solving, and collaborative skills. High level of analytical and decision-making skills. Ability to analyze complex situations, and provide and implement successful solutions. Ability to develop and lead successful teams. Ability to define work objectives, plans, and priorities to delegate routine tasks. Ability to create short- and long-range plans and forecasts.

Role Description

Responsible for providing leadership, direction, training, and management for financial activities, resources, and operations of the division, college, institution, campus, or system-wide. Provides strategic expertise and guidance, and has increased accountability. Management-level roles have the management and development of people as a major accountability and have direct reports. This role accomplishes goals through overseeing their areas of responsibility, planning, managing resources, prioritizing, and directing the responsibilities of employees.

Typical Functions:

Develops and manages budgets, provides expertise and analysis for long-range strategic planning, and operationalizes strategic plans.
Manages other managers, professionals, and/or support staff for the financial unit/program.
Manages and oversees the operations including staff supervision, development, and
Ensures efficient and effective operations within established guidelines, objectives, and goals.
Provides interpretation of rules and regulations and is responsible for ensuring compliance with university and external policies and
Assesses and makes determinations of risk.
Sets and develops processes, procedures, initiatives, and identifies alternative methods to accomplish goals while maintaining compliance.
Develops procedures in accordance with Generally Accepted Accounting Principles (GAAP).
Serves as a liaison with federal, state, and local officials, and is responsible for high level reporting to internal and external stakeholders.
Manages financial recordkeeping, reporting, and other accounting functions.
Participates in the capital planning process and determines facility accommodations and anticipates, identifies, researches, and resolves.
Consults with leadership to develop new programs or services upon identification of challenges.

Levels

Financial Management 1

Performs diverse activities requiring analysis and judgment in alignment with broad principles, practices, and professional standards.
Makes decisions within defined parameters and decisions require the ability to discern appropriate courses of action based on available options.
Decisions have a direct impact on the workflow timing and quality of outcomes.
Accountable for scheduling and monitoring work of others guided by objectives and expected outcomes with limited direction; consults with a higher level when new or complex problems arise.
Analyzes and interprets data, identifies areas of concern, and recognizes and resolves problems using policies and procedures.
Determines compliance within policies and procedures.

Education/Experience:

Typically requires a bachelor’s degree in a relevant field and five years of relevant, progressively responsible experience, or an equivalent combination of education, training, and experience. Advanced degree preferred. Supervisory experience preferred. Additional professional certification or licensure may be required.

Financial Management 2

Provides guidance and/or oversight for the financial activities of a complex unit with multiple reporting units.
Accountable for setting goals and objectives for the work of others to achieve operational objectives and service standards.
Oversees strategic planning processes
Works on complex issues requiring in-depth analysis of variable factors.
Relies on extensive experience and judgment to plan and accomplish goals.
Responsible for entire projects or processes.
Manages other managers and professional staff.
Selects methods, techniques, and evaluation criteria for obtaining results consistent with generally accepted accounting principles, policies, procedures, practices, and professional standards.

Education/Experience:

Typically requires a bachelor’s degree in a relevant field and six years of relevant, progressively responsible experience, or an equivalent combination of education, training, and experience. Advanced degree preferred. Supervisory experience required. Additional professional certification or licensure may be required.

Financial Management 3

Makes financial and operational decisions within broadly defined parameters.
Decisions require a high level of judgment.
Typically reports to senior or executive leadership.
Communicates direction from leadership and articulates impact on staff objectives.
Responsible for solving complex problems that are far-reaching.
Works across the institution as an expert to decision-makers.

Education/Experience:

Typically requires an advanced degree in a relevant field and seven years of relevant, progressively responsible experience, or an equivalent combination of education, training, and experience. Supervisory experience required. Additional professional certification or licensure may be required.

Financial Management 4

Possesses the authority to make complex, independent decisions to ensure the financial goals for the university are met.
Decisions and quality of services provided have a significant impact on service delivery and legal compliance.
Typically reports to executive leadership.
Resolves complex, controversial or unprecedented issues and problems, and demonstrates sound judgment by considering values, risks, impact, and implications of actions throughout the university.
Accountable for organizational structure and all aspects of people management.

Education/Experience:

Typically requires an advanced degree in a relevant field and eight years of relevant, progressively responsible experience, or an equivalent combination of education, training, and experience. Supervisory experience required. Additional professional certification or licensure may be required.

Financial Management 5

Serves as a member of the President’s leadership team and advises senior leaders on financial related matters. Oversees the areas of finance and administration and develops and implements campus-wide financial strategies.

Education/Experience:

Financial Management 6

Serves an elected officer by the Board of Trustees and is directly responsible to the President. Accountable for the administration of all financial operations of the University, including the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company assets, report accurate financial results, monitoring adherence to the budget and development of long term financial and operational strategies. Assists the President in the active management of the University and performs such specific duties as from time to time may be prescribed by the President, the Board, or by any standing or special committee of the Board.