CFO, Vice President and Treasurer (14)

THE SEARCH

American University (AU), a recognized global leader in higher education, seeks an accomplished and innovative Chief Financial Officer, Vice President of Finance & Treasurer (CFO). The successful candidate will develop and drive an effective overarching financial strategy and sustainable funding model while striving for operational excellence in order to achieve AU’s strategic vision and goals. In pursuit of the strategic imperatives of scholarship, learning, and community, the CFO will serve as a crucial thought partner and trusted advisor to President Sylvia Burwell and other key internal and external stakeholders on all financial and business matters, as well as key operational matters, including those related to facilities, real estate, public safety, and sustainability. As AU continues to leverage its existing assets while pursuing effective growth and community-wide improvement, the university seeks a dynamic leader who can capitalize on AU’s collective strengths, maintain a sustainable infrastructure, steward human and fiscal resources, and foster a diverse, equitable, accessible and inclusive environment.

American University boldly embraces opportunities for greater impact with sustained momentum and innovative work underway to fulfill its ambitiousstrategic plan , Changemakers for a Changing World, which builds upon a decade of historic success. The plan focuses on priorities to enhance research, transform the student experience inside and outside the classroom, expand lifelong learning, pursue inclusive excellence, augment AU’s relationship with the Washington, DC region, and improve AU’s operational effectiveness. A centerpiece of AU’s strategic plan is the university’s Plan for Inclusive Excellence, through which the University began infusing diversity, equity, and inclusion at strategic, tactical, and operational levels. The strategic plan also focuses on diversifying the university’s revenue, expanding research, enhancing student retention and graduation rates, and achieving operational excellence at AU. The new Chief Financial Officer will play a key role in implementing the strategic plan. Also shaping the future of the institution is the public phase of an ambitious fundraising campaign, which will capitalize on AU’s momentum as an emerging global university to support the student and scholarship of American University students and faculty for generations to come.

THE SEARCH CONTINUED

The next Chief Financial Officer, Vice President & Treasurer is expected to bring exceptional leadership, oversight, and enhancement to American University’s strong financial portfolio (FY 2020 net assets $1.3 billion; $628 million operating budget; $701 million endowment net assets). Working in close partnership with the President, Board of Trustees, and other University stakeholders, the CFO is responsible for providing balanced fiscal strategies and operational excellence, while fostering collaboration, innovation, and transparency. The successful candidate will be an astute financial leader with a proven track record in high-level strategic planning and operational execution within a research university, university system, or similarly complex environment. The CFO must be an ambitious leader who has the skills and experience to steward and allocate resources in support of this leading university as it boldly embraces opportunities for greater impact. Success in this role will be measured by effective financial stewardship, an innovative approach to university finances, general operational oversight, and strong collaboration, as well as excellent written and presentation skills and a keen ability to effectively engage with internal and external university stakeholders. The CFO must be an entrepreneurial leader who is flexible in approach and comfortable supporting an evolving institution during a transformational period. American University has retained Isaacson Miller, a national executive search firm, to assist in this search. All applications, inquiries, and nominations, which will remain confidential, should be directed to the search firm as indicated at the end of this document.

AMERICAN UNIVERSITY

Chartered by an Act of Congress in 1893, American University (AU) is a private, student-centered research institution located on a 90-acre campus in a residential neighborhood only a few miles from downtown Washington, DC. AU is home to eight prestigious schools and colleges: the College of Arts and Sciences, School of Public Affairs, Washington College of Law, Kogod School of Business, School of International Service, School of Communication, School of Professional and Extended Studies, and School of Education—that draw upon the extraordinary cultural, scientific, public affairs, legal, business, international, and communications resources in the greater metropolitan area of Washington, DC. Recognized for its emphasis on personalized teaching and experiential education, the university, faculty, and students are deeply connected to the institutions and culture of the nation’s capital. AU’s schools offer over 170 programs and have more than 14,000 students enrolled. American University is one of the largest employers in Washington, DC and consistently ranks among the nation’s leading universities. AU’s students, faculty, and staff come from all 50 states, the District of Columbia, and over 143 countries. Throughout its history, the engagement, inclusiveness, and diversity of AU’s community have been hallmarks of the university. Thanks to extraordinary faculty and staff, cutting edge new facilities, and a focus on research and practices that address today’s most difficult challenges, AU is ranked #35 among most innovative universities by US News and World Report.

American University’s 90-acre campus, an officially designatedarboretum , provides an ideal collegiate setting, characterized by Federal-style architecture and the contemporary Cyrus and Myrtle Katzen Arts Center, a state-of-the-art exhibition and performance space that serves both the university and greater DC communities. The Washington College of Law is located 1 mile from main campus on the 8 acre Tenley Campus. In addition, a new $90 million Hall of Science featuring advanced laboratory facilities and classroom space, opened in Fall 2020. AU is proud to be the first urban campus, the first research university, and the largest higher education institution in the United States to achieve carbon neutrality. AU achieved carbon neutrality two years ahead of an ambitious target of 2020 by approaching the goal with three innovative strategies: 1) Reduce its overall emissions, 2) use renewable energy, and 3) offset the small remainder. American University was founded to respond to the needs of a changing world, with a set of guiding values—among them diversity, equity, and inclusion. AU cannot be excellent without being truly inclusive, and without taking the concrete, specific steps to improve campus climate. To this end, American University embarked on a journey toward inclusive excellence in 2017. Born from the need to address sharp underlying differences in the campus experiences of people of color compared to their white counterparts, and a responsibility to learn from, and not replicate, the inequities of our past and present, the plan has been the University’s roadmap to a more equitable future.

INSTITUTIONAL FINANCES

AU Board of Trustees approved an operating budget for fiscal years 2020 and 2021 totaling $1.5 billion. The University is heavily dependent on tuition revenue and has maintained balanced budgets for more than 30 years. As of 2020, the University’s endowment stands at $701 million, and it is rated by Moody’s (A1) and Standard & Poor’s (A+). More information on the University’s financial portfolio can be viewed on the University’s latest annual report.ANNUAL REPORT | AMERICAN UNIVERSITY, WASHINGTON, DC

More information on AU is availablehere .

ORGANIZATIONAL LEADERSHIP

Sylvia M. Burwell is the 15th president of American University in Washington, DC, and the first woman to serve in the role. Since coming to AU in 2017, she has focused on building a university community centered on scholarship, learning, inclusion, and service.

Under her leadership, AU received several top rankings from US News and World Report, including No. 35 for innovation, No. 25 in undergraduate teaching, No. 43 in first year experiences, and No. 11 in study abroad programs. During her tenure, AU became the first carbon neutral university in the United States and established the first anti-racist research and policy center in the nation.

Prior to her arrival in 2017, President Burwell served as the 22nd Secretary of the United States Department of Health and Human Services (HHS) from 2014 to 2017. Previously, she was the Director of the Office of Management and Budget (OMB). Her prior government experience includes Deputy Director of the Office of Management and Budget, Deputy Chief of Staff to the President, Chief of Staff to the Secretary of the Treasury, and Special Assistant to the Director of the National Economic Council. She served 11 years at the Bill and Melinda Gates Foundation, including roles as the Chief Operating Officer and President of the Global Development Program. After the Gates Foundation, she was the President of the Walmart Foundation.

The University president reports to the Board of Trustees that is comprised of 31 members who are responsible for the overall direction and management oversight of the University. Trustees are elected for renewable three-year terms. The membership of the Board reflects a wide range of business and professional leadership.

President Burwell’s cabinet is composed of senior University administrators who serve as the University’s officers and who also report directly to the president. They work closely together with the president, trustees and academic leadership to provide advice, develop and implement university-wide initiatives and oversee operation of the University. In addition to the CFO, they include; the Provost; Vice President of Campus Life & Inclusive Excellence; Vice President, General Counsel & Secretary to the Board of Trustees; Vice President & Chief Communications Officer, Vice President of People & External Affairs and Chief of Staff & Counselor to the President; Vice President of Development & Alumni Relations; Vice President & Chief Information Office; and Director of Athletics & Recreation.

THE ROLE OF CHIEF FINANCIAL OFFICER, VICE PRESIDENT & TREASURER

As a critical member of the leadership team, the CFO will have an instrumental and strategic role in the future growth and advancement of American University’s mission. Reporting directly to President Sylvia Burwell, the CFO will oversee financial and administrative functions that are central to advancing and supporting American University’s academic mission to educate and inform. As a member of the University’s Cabinet and President’s Council, the CFO will contribute to the strategic vision and management of the university as a whole and will serve as a trusted, strategic advisor to the President on all finance and business matters. The CFO serves as the principal finance leader for the university, providing the necessary vision and oversight for developing and implementing finance and business strategies and initiatives across AU. The CFO will serve as a trusted leader and collaborative partner, working with academic and administrative leaders to further institutional goals and outcomes. In addition to driving operational and financial excellence, the CFO leads a highly experienced and clientfocused finance division that includes Auxiliary Services, Budget, Controller, Facilities Planning and Management, Payroll, Police and Safety Services, Risk Management, Student Accounts, Sustainability, Treasury and Transportation Management. Charged with enhancing the financial management of the University, the CFO will oversee; resource allocations, financial strategy, capital plans, debt management, cash flow optimization, and financial information systems. Supporting the CFO’s efforts will be a skilled team of 307 staff and a budget and portfolio of $137 million annually.

OPPORTUNITIES AND CHALLENGES

The Chief Finance Officer, Vice President of Finance & Treasurer will be responsible for the overall finance and business operations at AU. Specifically, the CFO will:

• Provide vision and leadership for AU’s finance, operations, and treasury functions, advancing AU’s teaching, research, and service missions.
• Act as advisor to AU senior leadership on all aspects of finance and business strategies determining appropriate investment and resource allocation.
• Ensure operational excellence in key areas, including facilities planning and management, real estate, public safety, and sustainability.
• Collaborate with a variety of internal and external stakeholders and partners, including the President, members of the Board, faculty, staff, and students.
• Strategically align resources to meet AU’s overarching priorities and objectives through effective financial stewardship, analysis and forecasting.
• Offer sound financial facts, analyses, and observations to inform and support the university’s operational and strategic position to achieve the institution’s mission.
• Serve as a proponent and model of sound ethical practices that reflects the highest ethical and professional standards to effectively advocate good management practices throughout the institution.
• Cultivate a diverse, equitable, accessible, and inclusive culture.
• Foster a culture of innovation, transparency, and accountability in operations.
• Safeguard the institutions human, financial, and physical resources by addressing enterprise risks.

OPPORTUNITIES AND CHALLENGES CONTINUED

• Develop strategies around physical infrastructure, and program management to meet AU’s research goals.
• Build partnerships with strong and effective relationships with faculty, staff, and students to develop and execute shared goals.
• Lead financial and operational matters for the University. This includes establishment of fiscal priorities and management of financial systems as well as development and implementation of new policies.
• Offer critical feedback on strategy, budgets, contracts, purchases, and institutional proposals with financial consequences.
• Explain complex technical issues in simple and understandable terms; raise difficult questions and convey a sense of urgency, when needed, without causing undue alarm.
• Educate fellow colleagues about the institution’s financial condition and the benefits of good management practices, such as financial planning and oversight, compliance, and monitoring of internal controls.
• Ensure that policies are followed and internal controls are effective.

Responsible for key financial and administrative functions including:

• Treasury: Responsible for management of cash and liquidity in the endowment to support operations. Works with the Board of Trustees Investment Committee and independent investment management company to make endowment decisions. Implements and reports on investment decision. Recommends the level of the endowment’s spending policy. Oversees an integrated debt sand asset management strategy that integrates cash, endowment and debt.
• Controllership: Responsible for accurate and timely financial information reporting working with the auditors and carrying out their financial management recommendations. This includes grant and contract accounting and compliance for to ensure compliance with regulations and restrictions required by the granting agency. Responsible for accounts payables and receivables and ensures they are efficient and customer focused, and have sufficient internal controls to prevent fraud.
• Budget: Responsible for financial planning (two-year budget cycle and future-year forecasts) and budget control (monitoring variances to the current year’s budget). Leads the institution-wide effort to prepare budgets, which includes articulating financial issues and proposing appropriate solutions.
• Procurement/Purchasing: Ensures sound procurement practices, including competitive bidding and bulk purchasing and ensures effective internal controls to prevent fraud.
• Risk Management: Responsible for an annual enterprise risk assessment and related mitigation planning to ensure that the university take steps to reduce risks to the institution.
• Facilities Planning and Management: Responsible for effectively operating and maintaining a safe, functional, clean, and attractive living and learning environment.
• Police and Safety Services: Responsible for promoting a safe and security living, learning and working environment through the provision of outstanding police and safety services.
• Sustainability: Responsible for building on AU’s proud history of sustainability and deep commitment to creating a healthier and just planet for all. This includes driving sustainability beyond the important milestones already achieved focusing on engagement, environment, and administration.

THE SUCCESSFUL CANDIDATE

The ideal candidate will have senior-level finance and operations leadership experience, excellent communication and interpersonal skills coupled with the ability to lead and effect change in a proactive and thoughtful manner. The candidate must possess a deep and broad background in finance and operations with a particular focus on best practices in the field.

The successful candidate will bring many of the following skills and qualities:

• An MBA or equivalent degree preferred with at least ten years of progressive experience in finance, budget, and administration, with five years at the senior level at a major university, university system, or other large complex organization.
• Excellent leadership skills, business acumen, and ability to effectively manage, lead and supervise a multidisciplinary team with enterprise-wide impact.
• An entrepreneurial spirit with an openness to new perspectives and willingness to explore different approaches; and be creative, a visionary, and manage innovation well.
• Strong leadership, mentoring, strategic planning, change management, collaboration, and negotiation skills.
• An ability to create and foster a culture of agility and innovation that supports creative thinking and improves upon existing processes and services.
• Demonstrated executive-level communication and influencing skills with the ability to resolve issues, build consensus among groups of diverse internal/external stakeholders, and negotiate and mediate conflict.
• An unwavering commitment to the highest ethical and professional standards.
• Strong communication skills, including demonstrated experience in analyzing and synthesizing how data-informed decisions are being made.
• Experience leading major change initiatives; demonstrated skill in change management.
• Demonstrated commitment to diversity, equity, and creating and maintaining inclusive learning and work environments.
• Excellent judgement coupled with a sense of humor.
• Demonstrated success in building, leading, and supporting teams and working collaboratively with colleagues at all levels of an organization.

TO APPLY

American University has retained the national executive search firm Isaacson, Miller to assist in this search. All inquiries, nominations, referrals, and applications should be sent in confidence to:

Dan Rodas, Partner Jane McMahon,

Managing Associate Isaacson, Miller

www.imsearch.com/7928

Current American University Employees:

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Contact Us:

For more information or assistance with the American University careers site, email theworkline@american.edu .

American University is an equal opportunity, affirmative action institution that operates in compliance with applicable laws and regulations. The university does not discriminate on the basis of race, color, national origin, religion, sex (including pregnancy), age, sexual orientation, disability, marital status, personal appearance, gender identity and expression, family responsibilities, political affiliation, source of income, veteran status, an individual’s genetic information or any other bases under federal or local laws (collectively "Protected Bases") in its programs and activities.

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