Vice President, Finance and Treasurer

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Vice President, Finance and Treasurer

University Overview

The University of Pennsylvania, the largest private employer in Philadelphia, is a world-renowned leader in education, research, and innovation. This historic, Ivy League school consistently ranks among the top 10 universities in the annual U.S. News & World Report survey. Penn has 12 highly-regarded schools that provide opportunities for undergraduate, graduate and continuing education, all influenced by Penn's distinctive interdisciplinary approach to scholarship and learning. As an employer Penn has been ranked nationally on many occasions with the most recent award from Forbes who named Penn one of America's Best Employers By State in 2021.

Penn offers a unique working environment within the city of Philadelphia. The University is situated on a beautiful urban campus, with easy access to a range of educational, cultural, and recreational activities. With its historical significance and landmarks, lively cultural offerings, and wide variety of atmospheres, Philadelphia is the perfect place to call home for work and play.

The University offers a competitive benefits package that includes excellent healthcare and tuition benefits for employees and their families, generous retirement benefits, a wide variety of professional development opportunities, supportive work and family benefits, a wealth of health and wellness programs and resources, and much more.

COVID-19 vaccination is a requirement for all positions at the University of Pennsylvania. New hires are expected to be fully vaccinated before beginning work at the University. For more information about Penn's vaccine requirements and the use of Penn Open Pass, visit the Penn COVID-19 Response website for the latest information.

Posted Job Title
Vice President, Finance and Treasurer

Job Profile Title
Vice President

Job Description Summary
The Vice President, Finance and Treasurer (the Vice President) leads the Division of Finance (DOF). The DOF provides world-class service and strategic financial leadership that unleash the vast capabilities of students, faculty, and those who support them as they positively impact the world. The Division leads the centralized finance functions of the University, inspiring the highest standards of financial performance while optimizing decision support.

Job Description

SUMMARY OF OPPORTUNITY

The University of Pennsylvania (Penn), an institution with extraordinary depth and breadth of education and research, has enjoyed a reputation of excellence for decades. The institution is incredibly well-managed financially and benefits from strong strategic and operational leadership and management. In FY 2021, Penn's annual operating budget was $12.7 billion, and the endowment increased 41 percent to over $20 billion. Total net assets grew by 37 percent to $26.9 billion. Penn's credit ratings from Moody's Investors Service and S&P Global Ratings are Aa1 and AA+ for the University and Aa3 and AA for Penn Medicine, respectively. Penn is highly decentralized and uses a Responsibility Center Management budget model. To continue to strengthen the institution financially and to provide strong leadership, Penn seeks a talented, collaborative, and innovative finance executive to serve as the next Vice President, Finance and Treasurer.

The Vice President, Finance and Treasurer (the Vice President) leads the Division of Finance (DOF). The DOF provides world-class service and strategic financial leadership that unleash the vast capabilities of students, faculty, and those who support them as they positively impact the world. The Division leads the centralized finance functions of the University, inspiring the highest standards of financial performance while optimizing decision support. The DOF is service-oriented and complex and encompasses a wide spectrum of departments, including finance and treasury, the comptroller's office, office of research services, and student registration and financial services. The Division stewards financial resources and ensures the consistent and clear application of financial policies. The Vice President leads and oversees the management of more than 250 employees.

Reporting directly to the Senior Executive Vice President, the Vice President will work across the enterprise to optimize the University's decision-making capabilities while inspiring the highest standards of financial performance. The highly complex position will allow the right person to have a significant impact on both operations policy and financial strategy. The individual must lead by example; exercise financial acumen and stewardship; promote diversity, equity, inclusion, and belonging values; demonstrate a transparent and open communicative and consultative style; appreciate the complexity of a decentralized environment; and reflect authenticity.

POSITION RESPONSIBILITIES

Financial Operations
  • Leading the University's external financial reporting and multi-year financial planning processes.oordinating financial activities for the University to serve all constituencies.
  • Overseeing University external audits (financial and compliance).
  • Leading analytics, modeling, and business planning efforts that optimize executive reporting.
  • Providing expertise and oversight of payroll, property management, accounts payable, individual disbursements, and investment and research accounting.
  • Structuring and reviewing real estate and other financial transactions of the University and Penn Medicine.
  • Overseeing the development of an ongoing program to protect assets of the University against the risk of financial loss through property/casualty insurance, claims administration, and loss control.


Debt and Treasury
  • Managing cash and short-term investments, debt issuance and management, investor and rating agency relations, central gifts processing, trust administration, and construction finance.
  • Partnering with Penn Medicine on cash management, debt management, and investment of financial assets.


Administrative Management and Oversight
  • Guiding Penn student registration and financial services.
  • Ensuring University compliance with state and federal tax laws and federally mandated research requirements.
  • Negotiating indirect cost recovery agreements with applicable federal agencies.
  • Guiding global business support services and international risk management.


Board/Trustee Engagement
  • Serving as designated liaison representative to the Trustee Budget and Finance Committee.
  • Serving on Penn Medicine Full Board as well as Penn Medicine Finance and Audit Committees.


Staff Leadership Development
  • Empowering a high-performing leadership team and a dedicated and committed staff.


Collaborative Relationships
  • Developing relationships with academic and administrative colleagues from Penn's schools and centers to understand their strategic priorities.
  • Forming connections with other members on the Senior Executive Vice President's leadership team.
  • Collaborating with health system financial management executives on various Penn Medicine finance initiatives.
  • Serving as an executive member of the President's Budget Steering Group, Capital Council, and Real Estate Steering Group. Chairing some university-wide shared governance Working Groups.


CANDIDATE PROFILE

Penn seeks an experienced and grounded professional with proven leadership skills, a deep understanding of the academic mission of the University, and relevant experience and proven success with accounting and financial systems and processes at large, complex organizations. The successful candidate will bring innovation, a keen analytical mind, collaboration, transparency, and energy to the role.

The most compelling candidates will possess and demonstrate:
  • Mission Alignment: Visible and genuine passion for the University's mission and ethos. An advocate who promotes the academic mission and enterprise through the allocation of financial resources.
  • Financial Credibility, Acumen, Business Savvy, and Domain Expertise: A minimum of 10 years of progressive experience in finance, treasury operations, investments, investment banking, real estate, and/or other financial fields. A complete command of the financials as well as a thorough understanding of financial planning models and areas of risk and core financial and administrative issues. The ability to communicate financial management activities to colleagues and executive leaders to enable investments that further strategic priorities. Experience in higher education or healthcare/academic medicine is preferred. A solid understanding of academic medicine is preferred.
  • Leadership, Management, and Strategic Thinking: Relevant experience leading initiatives, marshaling resources, and engaging various constituencies. Experience using data and information to make sound decisions. A demonstrated track record of attracting, developing, empowering, and retaining top talent at all levels of finance and administration. The person must be seen as an advocate for staff development and manage vertically and horizontally. Proven track record of success serving as a strategic advisor and thought partner to executive and senior leadership as well as an ability to perform the detail-oriented work of financial operations and administration with staff.
  • Authentic Embrace of Goals in Diversity, Equity, and Inclusion: Demonstrated evidence of advancing institutional objectives in the areas of Diversity, Equity, Inclusion, and Belonging.
  • Collaboration and Service: Proven experience inspiring trust and confidence across a complex organization to provide high-quality services. The person must be viewed as a collaborator and connector who forges partnerships that deliver excellence.
  • Emotional Intelligence: A high level of emotional intelligence with the ability to adjust to changing circumstances, respond to internal and external stress constructively, and manage conflict. The person must be flexible, resilient, humble, and adaptable, with a high energy level and a can-do and winning attitude.
  • Interpersonal and Relationship-Building Skills: The ability to develop relationships with internal and external constituencies across a complex institution. The person must be astute and have relevant experience navigating complexity and different personalities. The individual must be relationship-driven and a proactive and responsive communicator orally and in writing. The person must listen thoughtfully, communicate directly and often, and exercise collegiality throughout the decision-making process.
  • Education: Bachelor's degree in Accounting, Business Administration, or related field is required. A Master's Degree (an MBA is desirable) or other advanced degree is highly preferred.


OTHER QUALITIES AND EXPERIENCE
  • High intellect and exceptional quantitative and analytical skills, bringing the ability to examine challenges creatively and propose innovative, impactful solutions.
  • Experience with large systems implementation.
  • A strong student orientation.
  • Specific experience serving on benefit and retirement investment committees is preferred.


Affirmative Action Statement

The University of Pennsylvania does not discriminate on the basis of race, color, sex, sexual orientation, gender identity, religion, creed, national or ethnic origin, citizenship status, age, disability, veteran status, or any other legally protected class status in the administration of its admissions, financial aid, educational or athletic programs, or other University-administered programs or in its employment practices.

Vaccination Requirements

COVID-19 vaccination is a requirement for all positions at the University of Pennsylvania. New hires are expected to be fully vaccinated before beginning work at the University. For more information about Penn's vaccine requirements and the use of Penn Open Pass, visit the Penn COVID-19 Response website ( https://coronavirus.upenn.edu/ ).

PROCESS TO APPLY

Penn has retained the services of Lincoln Leadership ( www.lincolnleadership.co ) to conduct this search. Those interested in the search or who want to recommend someone for the role should contact Andrew C. Wheeler, Founder & President, at 267 257-1910 or awheeler@lincolnleadership.co .

Job Location - City, State
Philadelphia, Pennsylvania

Department / School
General University Special

Pay Range

Affirmative Action Statement
Penn adheres to a policy that prohibits discrimination on the basis of race, color, sex, sexual orientation, gender identity, religion, creed, national or ethnic origin, citizenship status, age, disability, veteran status, or any other legally protected class.

Special Requirements
Background check required after a conditional job offer is made. Consideration of the background check will be tailored to the requirements of the job.

University Benefits
  • Health, Life, and Flexible Spending Accounts: Penn offers comprehensive medical, prescription, behavioral health, dental, vision, and life insurance benefits to protect you and your family's health and welfare. You can also use flexible spending accounts to pay for eligible health care and dependent care expenses with pre-tax dollars.
  • Tuition: Take advantage of Penn's exceptional tuition benefits. You, your spouse, and your dependent children can get tuition assistance here at Penn. Your dependent children are also eligible for tuition assistance at other institutions.
  • Retirement: Penn offers generous retirement plans to help you save for your future. Penn's Basic, Matching, and Supplemental retirement plans allow you to save for retirement on a pre-tax or Roth basis. Choose from a wide variety of investment options through TIAA and Vanguard.
  • Time Away from Work: Penn provides you with a substantial amount of time away from work during the course of the year. This allows you to relax, take vacations, attend to personal affairs, recover from illness or injury, spend time with family-whatever your personal needs may be.
  • Long-Term Care Insurance: In partnership with Genworth Financial, Penn offers faculty and staff (and your eligible family members) long-term care insurance to help you cover some of the costs of long-term care services received at home, in the community or in a nursing facility. If you apply when you're newly hired, you won't have to provide proof of good health or be subject to underwriting requirements. Eligible family members must always provide proof of good health and are subject to underwriting.
  • Wellness and Work-life Resources: Penn is committed to supporting our faculty and staff as they balance the competing demands of work and personal life. That's why we offer a wide variety of programs and resources to help you care for your health, your family, and your work-life balance.
  • Professional and Personal Development: Penn provides an array of resources to help you advance yourself personally and professionally.
  • University Resources: As a member of the Penn community, you have access to a wide range of University resources as well as cultural and recreational activities. Take advantage of the University's libraries and athletic facilities, or visit our arboretum and art galleries. There's always something going on at Penn, whether it's a new exhibit at the Penn Museum, the latest music or theater presentation at the Annenberg Center, or the Penn Relays at Franklin Field to name just a few examples. As a member of the Penn community, you're right in the middle of the excitement-and you and your family can enjoy many of these activities for free.
  • Discounts and Special Services: From arts and entertainment to transportation and mortgages, you'll find great deals for University faculty and staff. Not only do Penn arts and cultural centers and museums offer free and discounted admission and memberships to faculty and staff. You can also enjoy substantial savings on other goods and services such as new cars from Ford and General Motors, cellular phone service plans, movie tickets, and admission to theme parks.
  • Flexible Work Hours: Flexible work options offer creative approaches for completing work while promoting balance between work and personal commitments. These approaches involve use of non-traditional work hours, locations, and/or job structures.
  • Penn Home Ownership Services: Penn offers a forgivable loan for eligible employees interested in buying a home or currently residing in West Philadelphia, which can be used for closing costs or home improvements.
  • Adoption Assistance: Penn will reimburse eligible employees on qualified expenses in connection with the legal adoption of an eligible child, such as travel or court fees, for up to two adoptions in your household.



To learn more, please visit: https://www.hr.upenn.edu/PennHR/benefits-pay

To apply, visit https://wd1.myworkdaysite.com/en-US/recruiting/upenn/careers-at-penn/job/Franklin-Building/Vice-President--Finance-and-Treasurer_JR00052466

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