Chief Financial Officer
A Chief Financial Officer leads a university’s financial operations and long-term fiscal sustainability, serving on the executive leadership team and aligning financial health with the academic mission. This is a sample job description from Excelon Associates that you can adapt as a template for your own hire.
What does a Chief Financial Officer do?
The Chief Financial Officer leads the institution’s financial operations and drives long-term fiscal sustainability. As a key member of the executive leadership team, the CFO provides strategic financial guidance and ensures the institution’s financial health aligns with its academic mission and institutional goals.
The role oversees budgeting, accounting, reporting, endowments, investments, and risk, and collaborates with the President, Board of Trustees, and senior leadership. It is the senior-most financial leadership role within the higher education sector.
Endowment management is the stewardship and investment of donated funds whose principal is typically preserved while income supports operations. CPA (Certified Public Accountant) and CFA (Chartered Financial Analyst) are professional credentials; the CPA is administered through the AICPA.
What does the CFO oversee?
Key responsibilities of a Chief Financial Officer
- Develop and execute financial strategies to support the institution’s long-term growth, stability, and operational efficiency.
- Oversee all financial operations, including budgeting, accounting, financial reporting, endowments, investments, and risk management.
- Lead financial planning and analysis, ensuring data-driven decisions that enhance resource allocation and institutional priorities.
- Collaborate with the President, Board of Trustees, and senior leadership to align financial objectives with academic and operational goals.
- Ensure compliance with all financial regulations, reporting standards, and institutional policies.
- Manage relationships with external stakeholders, including auditors, financial institutions, and government agencies.
- Drive financial sustainability initiatives, including revenue diversification, cost optimization, and strategic investment planning.
- Provide leadership and mentorship to finance teams, fostering a culture of transparency, accountability, and innovation.
What qualifications does the role require?
- Master’s degree in finance, accounting, business administration, or a related field; CPA or CFA designation is a plus.
- Minimum of 10+ years of progressive financial leadership experience, ideally in higher education, nonprofit organizations, or complex institutional settings.
- Strong background in financial strategy, endowment management, budgeting, and regulatory compliance within large institutions.
- Proven ability to lead cross-functional teams, drive financial performance, and collaborate with executive leadership.
- Exceptional analytical, communication, and problem-solving skills, with a commitment to fiscal responsibility and institutional excellence.
Why is the CFO role important?
The CFO safeguards the financial health that makes the academic mission possible. Their strategy on budgets, endowments, and sustainability determines whether the institution can invest in faculty, facilities, and students or is forced into retrenchment.
Because higher education finance differs sharply from corporate finance, with endowments, restricted funds, and shared governance, the strongest CFOs understand the sector’s distinct structure. A brilliant corporate CFO without that context often struggles in a university.
A hiring note from Excelon
University CFO searches reward sector fluency: endowment stewardship, restricted-fund accounting, and shared governance are unlike corporate finance. Through our higher education practice, we look for credentialed financial leaders who have operated inside the academic context and can partner credibly with a president and board, not only run a finance function.
A brilliant corporate CFO without higher education context often struggles in a university.
Related sample job descriptions
Chief Financial Officer: frequently asked questions
What does a Chief Financial Officer do?
A university CFO leads financial operations and long-term fiscal sustainability. The role develops financial strategy, oversees budgeting, accounting, reporting, endowments, investments, and risk, ensures compliance, and advises the President and Board of Trustees.
What qualifications does the role require?
This sample role requires a master’s degree in finance, accounting, business administration, or a related field (CPA or CFA a plus) and 10+ years of progressive financial leadership, ideally in higher education, nonprofit, or complex institutional settings.
How is a university CFO different from a corporate CFO?
A university CFO manages endowments, restricted funds, tuition revenue, and nonprofit reporting standards within a shared-governance environment, which differs from the profit-driven structure and reporting of a typical corporate CFO.
What is endowment management?
Endowment management is the stewardship and investment of donated funds whose principal is typically preserved while income supports the institution. It is a core responsibility distinguishing higher education finance leadership.
Why is this role important?
The CFO safeguards the financial health that makes the academic mission possible. Their strategy on budgets, endowments, and sustainability determines whether the institution can invest in its future.
Hiring a Chief Financial Officer?
Excelon Associates places CFOs, VPs of finance, and senior financial leaders at universities and colleges across the United States through our higher education recruitment practice. Retained executive search since 2007, headquartered in Asheville, NC, with offices in Boca Raton and Delray Beach, FL.
More Sample Job Descriptions
Templates you can adapt for your own roles.