Director of Financial Planning and Budgets

Western Connecticut State University

Division of Finance & Administration

Director of Financial Planning and Budgets

Western Connecticut State University is pleased to announce that applications are being accepted for a Director of Financial Planning and Budgets.

Position Summary:

• Reporting to the Chief Financial Officer (CFO), the director is responsible for developing short-and long-term financial plans in support of the University’s strategic goals and objectives.
• Develops, maintains, and communicates these protocols, procedures, and forms used by departments. Devises and implements a consensus building approach to the review, modification, and acceptance of a department’s budget plan in conjunction with the strategic plan.
• Through monitoring of financial, operational, and capital reports and activity indicators, the director continuously apprises senior management on the organization’s actual and projected performance versus budget and alerts them to potential challenges and opportunities.
• Solicits, compiles, and analyzes all operating budget requests annually and summarizes requests in formats developed in conjunction with the CFO that aid the University Planning & Budget Committee (UPBC) and senior administration in their understanding of the budget requests. Along with the CFO, provides supporting materials and analysis as needed to the UPBC in its role of hearing annual budget request presentations from selected leaders at WCSU.
• Ensures financial responsibility over expenses by maintaining approved budgets in the financial systems. Monitors the University’s actual expenditures versus budget and routinely issues performance reports to department heads and senior management. Develops projections versus plan; actively analyzes variances to determine the underlying causes and makes recommendations for corrective actions. Works regularly with department managers in a consulting role to support budget management.
• Under the general direction of the CFO and with the facilities team, prepares the University’s annual spending plan, five-year proforma, and long-term capital budget in accordance with CSCU guidelines and policies. Participates in the development of the University’s biennial capital budget and financial aspects of the five-year facilities plan. For the capital budget overall and for each project, maintains and monitors actual results versus plans and projections versus plans. Issues regular performance reports with analysis. Provides detailed supporting documentation for all plan line items. Attends CSCU system-wide hearings in support of the University’s budget submissions as requested.
• Performs financial analysis and modeling for potential capital projects including debt service modeling. Oversees capital funding plan and execution and bond covenant compliance for all debt.
• Coordinates the development of the financial components of deferred and scheduled maintenance plans and incorporates into long-term University plans.
• Develops and/or updates specific University budgeting policies and procedures for the approval of the CFO. Communicates policies and procedures to the University community via departmental workshops and individual training sessions. Assists the University community in fulfilling their stewardship role for the resources of the organization.
• Oversees all allocations and transfers of bonded funds to ensure proper budgetary disposition.
• Reviews all budgetary requests initiated during the fiscal year and makes recommendations for approval or rejection. Recommends funding transfers to the Chief Financial Officer as needed for budgetary control.
• Assists departments in creating business plans for new program initiatives. Provides input on program pricing strategies to achieve financial viability. Provides cost/volume/profit analysis to identify break-even points and cost behaviors for operating units and auxiliary operations (conferences, institutes, etc.).
• Supervises the budget analyst. Organizes operating activities and assigns workload. Promotes professional and educational growth opportunities. Performs performance reviews to apprise staff of progress and areas for improvement.
• Participates as a member of the finance team in the evaluation, acquisition, implementation and evolution of financial information systems. Monitors and assesses the financial system and reporting needs of the finance group and University community relative to the budget function. Recommends and develops new or modified reports. Works to obtain maximum benefits from existing software opportunities, report writer capabilities and data extraction/import across applications for budget purposes.
• Serves on University committees as requested to provide financial planning and support.

Qualifications: Bachelor’s degree in accounting, finance or related business field is required. A Certified Public Accountant (CPA), Certified Management Accountant (CMA), Masters of Business Administration (MBA) or Master’s degree in accounting/finance/public administration is required. A minimum of five (5) years of experience that is directly related and progressively responsible is required. Microsoft Office, including Word, Excel, PowerPoint, and Outlook are required.  Excellent analytical, interpersonal, written and verbal communication skills are necessary to accomplish the responsibilities of the position are required. Preferred experience includes: Preparation of operating and capital budgets; Development of budget policies and procedures; Cost accounting and program pricing; Financial projections and modeling; Extensive data extraction, import, and analysis; Ability to interact with senior level management; Finance experience in higher education or other non-profit organization; Working in a public accounting firm; and Participation and support with strategic planning processes.

WCSU is committed to enhancing our diverse university community by actively encouraging people with disabilities, minorities, veterans, and women to apply. We take pride in our pluralistic community and continue to seek excellence through diversity and inclusion.

Salary & Benefits: The salary range is $78,742 – $122,474 and is commensurate upon candidates' experience. WCSU offers a comprehensive benefits package. Additional information on benefits can be found at www.wcsu.edu/hr/benefits/.

Application Process: Prospective candidates must submit a cover letter, which includes the names and contact information for three (3) professional references and a resume. Email your application materials as one (1) complete file (PDF or Word format only) and not via multiple attachments to: Ms. Peggy Boyle, Assistant Director of Human Resources - Recruitment. In subject line of email reference: Your Last Name – Director – Financial Planning & Budgets. Email application materials to hrpositions@wcsu.edu. Review of application materials will begin on January 18, 2021 and will continue until the position is filled.

State and Federal requirements expect that organizations with 100 or more employees invite applicants to self-identify gender and race. We kindly request all applicants to complete the Affirmative Action Data Questionnaire via the following link. http://wcsu.edu/diversity/affirmative-action-data-questionnaire/. Any questions may be directed to Ms. Keisha Stokes in the WCSU Office of Diversity and Equity at stokesk@wcsu.edu. Completion of this data will not affect your opportunity for employment, or terms or conditions of employment. This form will be used for reporting purposes only and will be kept separate from all search records and only accessed by the Office of Diversity and Equity. 

Western is an Affirmative Action Equal Opportunity Educator/Employer