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Excelon Associates  ·  Sample Job Description  ·  Higher Education  ·  October 2024

Sample Job Description  ·  Higher Education  ·  Executive Finance Leadership

Vice President, Finance and Administration (CFO)

RoleVP Finance and Administration / CFO
Reports ToUniversity President
EducationBachelor’s Required; MBA or CPA Preferred
Experience10+ Years Senior Finance; 5+ Years CFO Level
Reports ToPresident
EducationBachelor’s / MBA or CPA
Experience10+ Years; 5+ CFO Level
SectorHigher Education / Nonprofit
📍  US-Based University  |  Reports to the President  ·  Member of the Executive Leadership Team  |  Exempt, Full-Time
Position Overview

Vice President, Finance and Administration

A prominent university is seeking a strategic and experienced Vice President for Finance and Administration to serve as the institution’s Chief Financial Officer and provide visionary financial leadership, operational management, and fiscal stewardship. Reporting directly to the President, the VPFA will serve as a key member of the executive team, driving financial strategy, overseeing administrative operations, and ensuring the university’s long-term financial health and sustainability.

This role requires a dynamic leader capable of aligning complex financial operations with the university’s academic mission and strategic objectives, navigating the unique governance and regulatory environment of higher education, and building trust with faculty, staff, and Board members through transparency and results.

Key Responsibilities

Primary Duties and Responsibilities

Financial Strategy, Planning, and Reporting

  • Lead the development, execution, and continuous assessment of the university’s financial strategies to support growth, sustainability, and operational efficiency across all divisions
  • Oversee annual budgeting processes, long-term financial planning, and forecasting, ensuring effective resource allocation aligned with institutional priorities and academic initiatives
  • Direct the preparation of accurate financial statements and reports, ensuring compliance with all federal, state, and university policies and maintaining transparency through regular reporting to the Board of Trustees and other stakeholders
  • Develop and maintain effective risk management strategies, financial controls, and institutional policies to safeguard university assets and support regulatory compliance

Administration and Operational Management

  • Provide oversight for critical administrative functions including facilities management, human resources, campus safety, and auxiliary services, driving efficiency and continuous improvement across these areas
  • Oversee the planning, funding, and execution of capital projects, ensuring they are financially viable, competitively procured, and aligned with the university’s strategic goals and facilities master plan
  • Lead and mentor a diverse team of finance and administrative professionals, fostering a collaborative, inclusive environment that promotes professional growth and aligns with the university’s values
  • Partner with academic and student affairs leadership to ensure that administrative operations actively support the institution’s educational mission rather than creating unnecessary friction

Endowment, Partnerships, and External Engagement

  • Collaborate with the Board’s investment committee and external investment managers to ensure prudent oversight and sound management of the university’s endowment in alignment with spending policy and long-term institutional needs
  • Work closely with advancement and development teams to align financial strategy with fundraising efforts and develop innovative partnerships that enhance institutional resources and revenue diversification
  • Serve as the primary financial liaison to the Board of Trustees, external auditors, bond counsel, lenders, and governmental agencies, representing the university’s financial interests with credibility and precision
  • Identify and evaluate opportunities for financial innovation, including alternative revenue streams, public-private partnerships, and financing structures for capital needs
Qualifications

Education, Experience, and Skills

Required and Preferred Credentials

Education Bachelor’s degree in Finance, Accounting, Business Administration, or a related field; MBA, CPA, or advanced degree strongly preferred
Experience Minimum 10 years of senior financial management experience, including at least 5 years in a CFO or equivalent executive role in higher education, the public sector, or a complex nonprofit organization
EducationBachelor’s in Finance or related field; MBA or CPA strongly preferred
Experience10+ years senior finance; 5+ years CFO or equivalent in higher education or complex nonprofit

Knowledge, Skills, and Abilities

  • Proven track record of strategic financial leadership with expertise in budgeting, financial planning, resource allocation, and long-range financial modeling in a large, complex organization
  • In-depth knowledge of higher education financial systems, endowment management, capital financing structures, and nonprofit accounting standards
  • Experience managing diverse operational functions including facilities, human resources, and auxiliary services within a large institutional setting
  • Strong understanding of federal and state regulations related to higher education finance, including financial aid compliance, tax-exempt financing, and non-profit reporting requirements
  • Exceptional communication and interpersonal skills with the ability to engage and influence stakeholders across all levels of the institution, from frontline staff to the Board of Trustees
  • Demonstrated commitment to diversity, equity, and inclusion with a track record of fostering an inclusive and collaborative work environment across administrative units
Core Competencies

What We Are Looking For

Strategic Financial Vision

Ability to translate institutional mission and long-range aspirations into a financially sustainable strategy that allocates scarce resources toward highest-priority academic and operational needs.

Higher Education Fluency

Deep familiarity with the financial structures unique to universities — restricted and unrestricted funds, endowment management, federal financial aid compliance, capital financing, and non-profit accounting — not merely analogous corporate experience.

Operational Leadership

Proven ability to oversee complex administrative portfolios including facilities, HR, campus safety, and auxiliary services, holding teams accountable to both service quality and financial performance simultaneously.

Board and Stakeholder Trust

Credibility and communication skill to serve effectively as the institution’s financial face to the Board of Trustees, external auditors, bond counsel, and governmental agencies, delivering difficult news as clearly as good news.

Risk and Compliance Mastery

Disciplined approach to enterprise risk management, internal controls, and regulatory compliance that protects institutional assets and accreditation standing while not creating unnecessary bureaucratic friction for academic operations.

Collaborative Leadership

Genuine partnership orientation with academic and student affairs leadership, understanding that administrative excellence in higher education is measured ultimately by whether it enables the mission rather than simply controls costs.

  • Strategic Financial Vision: ability to translate institutional mission into a financially sustainable resource allocation strategy
  • Higher Education Fluency: deep familiarity with endowment management, financial aid compliance, capital financing, and non-profit accounting
  • Operational Leadership: proven ability to oversee facilities, HR, campus safety, and auxiliary services with accountability for both service and financial performance
  • Board and Stakeholder Trust: credibility to serve as the financial face of the institution to trustees, auditors, and governmental agencies
  • Risk and Compliance Mastery: disciplined approach to enterprise risk and internal controls that protects assets without creating academic friction
  • Collaborative Leadership: genuine partnership with academic leadership, understanding that administrative excellence enables the mission
Compensation and Benefits

Salary and Benefits

The university offers a competitive salary and comprehensive benefits package commensurate with experience and qualifications. The institution is committed to sustainability, inclusion, and the professional success of its senior leadership team, and provides meaningful opportunities for institutional impact at the highest levels of university governance.

SalaryCompetitive, commensurate with credentials and experience
Health BenefitsComprehensive medical, dental, and vision coverage
RetirementInstitutional retirement plan with employer contribution
Professional DevelopmentConference support, professional association membership, and leadership development
CampusVibrant university community committed to academic excellence and sustainability
ClassificationFull-time, senior executive appointment reporting to the President
SalaryCompetitive, commensurate with credentials and experience
BenefitsComprehensive health, retirement, and professional development support
ClassificationFull-time senior executive, reporting directly to the President
Application Process

How to Apply

Excelon Associates is conducting this search on behalf of the university. The institution is deeply committed to diversity, equity, and inclusion and actively encourages applications from candidates of all backgrounds. All submissions are handled with complete confidentiality.

  1. Submit a cover letter describing your financial leadership philosophy, relevant higher education or complex nonprofit experience, and your interest in this position
  2. Provide a current curriculum vitae or resume including a comprehensive overview of financial management responsibilities, team size, and budget scope in prior roles
  3. Include contact information for three professional references with direct knowledge of your financial leadership at the CFO or senior executive level
  4. Selected candidates will be invited for a confidential conversation with the Excelon Associates search team and, if advancing, a campus visit with the President, Board representatives, and senior leadership

For inquiries or nominations, contact Excelon Associates at +1 (828) 417-7094 or via the Start a Search page.

The best university CFOs understand that their job is not to minimize cost. It is to maximize the institution’s capacity to pursue its mission — and to do that sustainably, transparently, and with the trust of every constituency that depends on them.

Frequently Asked Questions

FAQ: Vice President, Finance and Administration

QWhat does a Vice President for Finance and Administration do at a university?
A Vice President for Finance and Administration serves as the chief financial and administrative officer, responsible for financial strategy and planning, budgeting, financial reporting, compliance, endowment oversight, risk management, capital projects, facilities management, human resources, and auxiliary services. The VPFA reports to the President, serves on the executive leadership team, and is typically the primary financial liaison to the Board of Trustees.
QWhat qualifications are required for a university VP of Finance and Administration?
Most universities require a bachelor’s degree in Finance, Accounting, Business Administration, or a related field, with an MBA, CPA, or advanced degree strongly preferred. Candidates are typically expected to have at least 10 years of senior financial management experience, including at least 5 years in a CFO or equivalent executive role, preferably in higher education, the public sector, or a complex nonprofit. In-depth knowledge of higher education financial systems, endowment management, and capital financing is essential.
QWhat is the difference between a VPFA and a CFO at a university?
At many universities, the Vice President for Finance and Administration and the Chief Financial Officer are the same role, with both titles used interchangeably or combined. At larger institutions the roles may be separated, with the CFO focusing specifically on financial strategy and treasury functions while the VPFA oversees a broader administrative portfolio including facilities, HR, and campus operations. The scope depends on institutional size, structure, and governance model.
QWhat makes higher education finance leadership different from corporate CFO roles?
University finance leadership operates within a context that differs significantly from corporate environments. Key differences include shared governance structures, the complexity of managing restricted and unrestricted endowment funds, compliance with federal financial aid regulations, non-profit accounting standards, public funding constraints, and the challenge of aligning financial strategy with an academic mission rather than a profit objective. Effective higher education CFOs must build consensus across faculty, administration, and the Board while navigating all of these constraints simultaneously.
QHow does Excelon Associates recruit VP Finance and Administration candidates for universities?
Excelon Associates conducts retained executive searches for Vice Presidents of Finance and Administration, CFOs, and senior administrative leaders at colleges and universities nationwide. Our process includes proactive outreach to qualified higher education finance executives who may not be actively seeking new positions, thorough evaluation of financial leadership experience and institutional fit, and a structured search designed to surface candidates whose financial expertise, leadership style, and values align with each institution’s mission and strategic priorities.

Need to Hire a VP Finance and Administration or University CFO?

Excelon Associates recruits chief financial officers, vice presidents for finance and administration, and senior financial leaders for colleges and universities nationwide. Whether you are conducting a first-time search or replacing a long-tenured executive, we connect you with higher education finance leaders whose credentials, values, and vision align with your institution. Headquartered in Asheville, NC. Retained search since 2007.

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