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Associate Vice President for Finance & University Controller

Employer
University of Virginia
Location
Charlottesville, Virginia
Salary
Commensurate with qualifications
Date posted
Jun 9, 2023
Website
https://www.virginia.edu/

Associate Vice President for Finance & University Controller

Introduction
The University of Virginia (UVA) invites nominations and applications for the role of Associate Vice President for Finance and University Controller (AVPFC). UVA Finance continues its journey to optimize its financial operations with exceptionally performing teams, a recent system modernization, along with effective and impactful business processes and engagement. To help lead this journey, UVA seeks a dynamic and innovative Associate Vice President for Finance and University Controller to provide strategic leadership and oversight to core business operations, including procurement, payroll, accounting, tax, financial reporting, and internal controls.

The Institution
The University of Virginia was founded by Thomas Jefferson in 1819 to advance human knowledge, educate leaders, and cultivate an informed citizenry. Today, UVA is a diverse global community of over 45,800 students, faculty, and staff. University students represent virtually every state in the U.S., and 124 countries; and our 224,000 alumni actively support our mission to serve the greater good.

UVA is an iconic public institution of higher education, boasting nationally ranked schools and programs, diverse and distinguished faculty, a major academic medical center ranked number one in the Commonwealth of Virginia, and proud history of pursuing research and discovery to advance society. 

In 2023, the University was ranked third best public university by U.S. News & World Report. In the 23 years since U.S. News began ranking public universities as a separate category, UVA has ranked in the top four and continues to rank in the Top 30 among the best of all national universities, public and private.  

The Grounds
At the heart of the 'University's campus, the Grounds, is the "Academical Village," a U-shaped group of buildings designed by the founder Thomas Jefferson and set around an open space known as the Lawn. Jefferson envisioned this arrangement as well suited to the frequent contact and shared learning between professors and students that define the ideal college experience. 

In 1987, UNESCO named the University (in conjunction with Monticello) a World Heritage Site. This rare distinction has been bestowed upon only the world's most culturally significant landmarks. UVA is one of only two such sites still being used for its original purpose. Today, the academical Village continues to bring Jefferson's vision around education to life every day. The Rotunda – originally the University's library – still serves as the heart of the University. The eastern and western sides of the Lawn retain the unique pavilions and student living quarters originally sketched by Jefferson. These buildings continue to play a major role in the University's community, housing our most honored faculty and student leaders, living, and learning together.

The University has begun to more deeply explore the critical and previously unrecognized role of the enslaved laborer in the construction of this historic landscape. The Memorial to the Enslaved Laborers, 2020 winner of the 'Architect's Newspaper' Project of the Year, sits within the borders of the World Heritage Site and seeks to formally acknowledge the work and the individual lives of the enslaved African Americans who built and sustained the everyday life of the University.

Financial Strength
The University has developed an exceptionally strong financial foundation as exhibited by a $12.8 billion net position on June 30, 2021, and a consensus triple-A bond rating. The three major rating agencies have noted the University’s excellent reputation; student demand, highly selective admissions, and broad geographic reach; sponsored research prowess; superior wealth and liquidity management; exceptional strategic positioning supported by strong planning, risk management, and ongoing prospects to support programmatic investments; the Medical Center’s prominent clinical reputation and ability to compete for patient care revenue; and remarkable donor support, among other factors.

The $4.8 billion FY23 annual budget encompasses the Medical Center ($2.7 billion), the Academic Division ($2.1 billion), and the College at Wise ($71 million). Significant revenue sources for the Academic Division include tuition and fees (36%), externally sponsored research (22%), endowment distribution (13%), state appropriations (11%), expendable gifts (9%), and sales and services (9%).

The University and its associated organizations have approximately $13.6 billion invested in the University of Virginia Investment Management Company’s (UVIMCO) long-term pool as of June 30, 2022, boosted by the long-term performance of UVIMCO, which has achieved an 11.0% return over the past ten years, compared to a benchmark of 7.3%.

The University has transformed significant parts of its operations (HR and Finance) and implemented new cloud-based systems that will enable UVA to provide best-in-class analysis, services, and support in a rapidly changing environment. UVAFinance celebrated a successful go-live of Workday Financials in July 2022. Leveraging this state-of-the-art technology, the AVPFC will contribute to fostering this culture of continuous improvement and operational excellence for all financial and business processes. 

The UVA Community
The community and culture of the University are enriched by a vibrant system of student self-governance, a sustained commitment to the arts, and a robust NCAA Division 1 Athletics program. UVA is made up of twelve schools in Charlottesville plus the College at Wise in Southwest Virginia. The University's twelve distinguished schools bring together a variety of disciplines, offering exciting opportunities for collaboration and cross-disciplinary exploration. Not including the College at Wise, the University employs nearly 25,000 people, including approximately 10,000 faculty and staff and approximately 12,700 Health System employees.

While national surveys are notable achievements, the University's success can best be measured by the quality of the students who attend. They are diverse, bright and engaged. UVA students bring a sense of creativity, engagement, and vitality that manifests inside and outside the classroom. Their interests and their activities, more than any other factors, make the University an exciting place.

Being part of the UVA community means experiencing a variety of artistic, cultural, athletic, and outdoor activities year-round. Theatergoers attend on-Grounds productions by the Department of Drama and Virginia Theatre Festival. The Fralin Museum of Art at the University of Virginia presents special exhibitions and maintains a permanent collection of more than 14,000 objects. UVA also sponsors the Arts on the Hill series and concerts by local bands and symphony orchestras. 

The UVA football games at Scott Stadium draw approximately 350,000 spectators annually. The John Paul Jones Arena, home to the UVA basketball teams, also hosts concerts, family shows, and community events. The University offers various indoor and outdoor fitness facilities, including the 98,000 square foot Aquatic & Fitness Center, outdoor tracks for jogging, and fields for intramural sports and individual recreation. University employees receive discounts on selected arena shows and events and a reduced rate for memberships to the University fitness centers. 

Charlottesville
Located in Central Virginia just east of the Blue Ridge Mountains, Charlottesville offers stunning beauty, extraordinary culture and an inexhaustible list of things to do. From world-class restaurants to cultural events like the Virginia Film Festival and Festival of the Book, to hiking and kayaking along the scenic Rivanna River, to a variety of music venues such as the Charlottesville Pavilion, Charlottesville offers a quality of life, community feel and natural beauty. The town boasts an incredible sports scene provided by the University. In recent years, UVA has won national or ACC titles in men's basketball, soccer, baseball, tennis, lacrosse, rowing and track and field. It also boasts a vibrant and rapidly growing entrepreneurship and innovation ecosystem. A wonderful place to raise a family, Charlottesville and Albemarle County have schools that are consistently ranked top in Virginia and the nation.

Just outside the city limits, Albemarle County offers a 726 square-mile area of land that is home to an unusually rich variety of cultural, natural and historic attractions. Most notable among these is Monticello, the famous home designed by Thomas Jefferson, where he spent many years of his life living, working and writing.

Charlottesville is easily accessible with multiple daily Amtrak service to Washington DC and enjoys its own convenient airport. The Richmond International Airport and Washington DC Dulles International Airport are about 60 and 90 miles away, respectively. This juxtaposition of a bustling city and rural life creates a rich diversity in Charlottesville and Albemarle County. The Charlottesville MSA has a population of about 225,000 people.

Position Profile
UVAFinance

Diverse and Inclusive Teams is a core value of UVAFinance: We value diversity, equity, inclusivity, and respect. We strive to create a culture where every team member feels included and valued, and where different backgrounds, perspectives, and ideas are celebrated. UVAFinance is committed to the belief that diversity in all its forms is not merely a desirable complement to excellence; it is an essential component of it. The diversity of our team itself, and our team's commitment to the importance of diversity, equity, and inclusion, strengthens our ability to effectively serve staff, faculty, students, suppliers, and the University community. Within UVAFinance, we are taking these efforts seriously, both in terms of our service to the University, the community, and our commitment to our employees.

Reporting Relationship
The AVPFC reports directly to the Vice President for Finance and Chief Financial Officer (CFO). Augie Maurelli was named the Vice President for Finance and CFO at the University of Virginia in March of 2023 after previously serving as the AVPFC since 2019. Augie oversees Financial Operations (Accounting, Financial Reporting, Tax, Procurement, Supplier Diversity, Payroll, and Internal Controls), Financial Strategy (Budget & Planning, Client Support, Change Enablement and Training, Data Reporting and Analytics, Finance administration, and the Workday Support teams) as well as Treasury and Risk Management.

Prior to UVA, Augie held financial leadership roles at University of Delaware and Georgetown University as well as worked in financial capital markets for Goldman Sachs. He earned a Bachelor of Science in Mechanical Engineering from Johns Hopkins University and a Master of Business Administration from the McDonough School of Business at Georgetown University. He is an active member of the community and serves on the President's Local Economy Working Group as well as the Charlottesville Chapter of United Way.

The AVPFC
With strong leadership in place and good financial positioning, the AVPFC will be joining UVA at a pivotal period marked by an ambitious strategic plan that positions the institution to be the best public university by 2030. As a direct report to the CFO, the AVPFC will be a critical member of the UVAFinance leadership team and will be instrumental in supporting key strategic initiatives of the University during a time of ongoing transformation. The AVPFC will serve as a trusted and collaborative partner working with key internal and external stakeholders to help further institutional goals and outcomes. Success in this role will be measured by effective financial stewardship, general operational oversight, strong collaboration, and excellent communication and presentation skills along with the ability to effectively engage a broad set of constituents.

The AVPFC will provide strategic oversight to all facets of business operations, including procurement, payroll, accounting, tax, financial reporting, and internal controls. The AVPFC will be supported by a dedicated team committed to supporting the University in meeting its mission and key strategic initiatives. 

Specifically, the AVPFC:

  • Ensures critical financial functions are carried out successfully through:
    • Timely and accurate annual financial reporting and consolidated annual audit
    • Creation and preparation of financial data for strategic decision making and Board Of Visitors visibility
    • Timely and accurate interim and annual creation of academic division GAAP statements
    • Precise payment of employee salaries, wages, and tax withholdings
    • Strategic sourcing of quality goods and services at competitive prices
    • Financial and tax compliance and expertise
    • Highly effective internal controls, policies and procedures and financial systems
  • Builds and inspires a high functioning and diverse team (60+) that strives to reach University and individual goals, while fostering an environment of mutual respect and understanding. Creates and maintains a culture of change and improvement that aspires to excellence.
  • Ensures resources are strategically aligned to meet UVA’s priorities and objectives through effective financial stewardship and analysis.
  • Offers sound financial data, analysis, and observation to inform and support the university’s strategic and operational position.
  • Builds strong and effective relationships with a variety of internal and external stakeholders including Board, faculty, staff, and students.
  • Provides University and senior school leadership with access to accurate and timely information for strategic decision support, as well as delegated reporting needs and responsibilities.
  • Optimizes effective business practices and technology solutions to best support financial management, data integrity, compliance, and productivity - with the UVAFinance leadership team. Serves as the data steward for financial information, with responsibility for the University's chart of accounts.
  • Serves as a voice in the national conversation on financial and accounting policies and practices to keep

abreast of emerging trends and technologies and best practices of top-performing organizations.

Direct Reports
The following positions report directly to the AVPFC:

  • Director of Financial Operations – Tax and Contracting
  • Director, Financial Reporting & Accounting
  • Director, Accounting and State Reporting
  • Senior Director, Procurement & Supplier Diversity Services
  • Director of Payroll Services
  • Senior Compliance Analyst
  • Senior Financial Controls Coordinator

The Director of Post-Award, who reports directly to the Executive Director, Office of Sponsored Programs, maintains a dotted line reporting relationship to the AVPFC.

Ideal Candidate Profile
The University will consider a range of profiles, and expressions of interest are sought from candidates possessing multiple competencies and qualifications.  The ideal candidate will be an accomplished leader who is forward-thinking and has implemented transformative and sustained impact in complex environments. Key competencies include:

  • Ascribe to the highest standards of honesty, quality, and integrity.
  • Serve as a technical expert and advisor, especially regarding financial accounting and reporting.
  • Be an engaged and committed leader who respects diversity in people, opinions, and experiences.
  • Develop trusted and effective relationships using diplomacy and conflict-resolution skills.
  • Think proactively and problem-solve innovatively.
  • Act with decisiveness and with an appropriate sense of urgency.
  • Listen actively, write effectively, and deliver professional presentations.
  • Be able to explain complex financial concepts in simple and understandable terms.
  • Exhibit keen strategic vision, keeping institutional core values at the forefront of decision-making.
  • Provide excellent service to internal and external stakeholders. 

Required qualifications include:

  • Bachelor's degree
  • A minimum of ten years of progressive responsibilities, including managerial responsibilities in accounting, other financial-related fields, and administrative matters, preferably in large, decentralized environments of comparable size and complexity
  • Experience interacting with external and internal auditors
  • Demonstrated experience in initiating and managing change in a large and complex organization

Preferred qualifications include:

  • Advanced degree in business or related field
  • An active CPA, CIA, CFA, or CMA license

To Apply or Nominate
Candidate nominations and interest from qualified candidates (including a resume and cover letter) may be sent to: UVAController@KornFerry.com

The University of Virginia, including the UVA Health System which represents the UVA Medical Center, Schools of Medicine and Nursing, UVA Physician's Group and the Claude Moore Health Sciences Library, are fundamentally committed to the diversity of our faculty and staff.  We believe diversity is excellence expressing itself through every person's perspective and lived experiences.  We are equal opportunity and affirmative action employers. All qualified applicants will receive consideration for employment without regard to age, color, disability, gender identity or expression, marital status, national or ethnic origin, political affiliation, race, religion, sex (including pregnancy), sexual orientation, veteran status, and family medical or genetic information.

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