The Vice President of Finance and Chief Budget Officer (VP) reports to the Senior Vice President for Administration and works closely and directly with the President. In addition, s/he works closely with the Provost, Senior Vice President for Academic Affairs and Vice President for Brookhaven Affairs, and Senior Vice President for Health Sciences and Dean of the School of Medicine. S/he provides leadership in applying the University's resources to meet institutional priorities and academic programming needs. The VP is responsible for assisting the University in identifying institutional priorities and allocating resources through the budgeting process, through financial and capital planning, through administrative and academic reviews, through institutional self-examination and through strategic planning and initiatives. S/he is also responsible for: overseeing all accounting, bursar, procurement, financial records, reports, and analysis for the University; overseeing annual audits performed by external CPA firms; monitoring performance against budgets; advising and guiding University leadership on resource allocation; developing and advising on long- and short-term institutional planning; and providing information and research to support decision making and strategic planning.
Key areas of responsibility include:
- Providing guidance on a range of long-term policy and strategic initiatives and collaborating with University leaders including the President, the Provost, Senior Vice Presidents, Vice Presidents, and Deans on budgetary and strategic matters.
- Engaging with administrators from Stony Brook University Medical Center on budgetary and business matters.
- Interacting with faculty and staff, seeking advice and communicating clearly about processes and decisions impacting the budget.
- Serving as a key liaison with the Stony Brook Council and along with the President, Provost, and senior staff, advising them on a full range of policy, strategy and budgetary matters.
- Working with senior leaders at the SUNY System Office, the SUNY Research Foundation, and New York State government officials on budgeting and resource allocations.
- Continuing to build a strong, deep, and service oriented organization in the areas of finance and accounting reporting and analysis.
The broad range of assignments and senior leadership roles create the opportunity for the VP to work at the most senior level of the University to fulfill Stony Brook's mission of education, research, and service and encourage academic excellence for students and faculty. The VP works across a diverse institution presenting the University as a singular entity while honoring the University's unique decentralized qualities.
The VP also holds the titles of: Chief Financial Officer for the Stony Brook Foundation; Board Treasurer for the Faculty Student Association; Board Member, SUNY Korea LLC; Finance and Audit Committee member; member of the hospital governing committee; and Brookhaven Science Associates.
The VP currently has four direct reports: the Associate Vice President and Controller; the Assistant Vice President for Procurement; the Assistant Vice President for Budget and Analysis; and the Executive Director and Controller of the Stony Brook Foundation. The division has a total staff of approximately 200 and an operating budget of $12.5 million.
KEY CHALLENGES AND OPPORTUNITIES
The Vice President of Finance and Chief Budget Officer will lead innovative change that will improve the use of the University's resources while maintaining the institution's high degree of stewardship in responsible management of the resources entrusted to it.
Key opportunities for the Vice President of Finance and Chief Budget Officer include:
- Lead the VP's office in financial planning, accounting, and reporting systems through the preparation of timely and accurate financial reports and analyses; reviewing and developing key financial processes to insure compliance and integrity; improving, creating, and implementing policies and procedures where necessary; providing support for tax advice and policy, and developing a strong organization within the unit.
- Create and implement an enhanced comprehensive budget model. Allowing for the distinct operating models across the institution, design, implement, and document a comprehensive and transparent budget model that presents a coherent view of the University's financial activities and provides common understanding, operational and financial incentives, and decision support for all major operating units.
- Evaluate and enhance resource and cost distribution practices to achieve the highest standards of equity, efficiency, and transparency and to achieve strategic goals and priorities.
- Strengthen the interaction, coordination, and communication between the central finance, accounting, and budget offices, and division financial administrators.
- Establish effective budget planning presentations and communications to the Stony Brook Council, senior leaders, and the campus, including a financial planning web site with budget information, assumptions, guidelines, calendars, glossary of terms, and overview of the budget process.
- Partner with other University leaders to design, implement, and assess institutional strategic planning.
- Be the steward for gathering and disseminating critical financial data across the University with the goal of assisting the various units to design and receive reports that will allow them to more effectively review and manage their operations.
- Maintain positive interaction with SUNY System Administration to coordinate campus budget activities with SUNY and other New York State systems and processes in a manner consistent with the campus mission.
- Work closely with peers within Stony Brook and across the other major SUNY research-intensive campuses on maintaining effective relationships with the SUNY Research Foundation.
The Vice President of Finance and Chief Budget Officer will be an individual with exceptional administrative and financial skills who can serve as a key contributor to the senior leadership team at the University. S/he must work at the highest levels of integrity, honesty, and openness, and create strong and enduring collaborative relationships with key leaders across the University, the faculty, the staff, and the Stony Brook Council. The Vice President will be an inclusive leader who weighs decisions thoughtfully and involves others in the decision-making process as appropriate. Senior-level operational experience in a comparably complex setting and a graduate degree with at least ten years of progressively responsible experience in budget and planning are expected.
The new Vice President will have the following qualities and attributes:
- Demonstrated leadership and expertise in the areas of budget, accounting operations, finance, institutional research and planning, and policy analysis.
- Creative ability to develop fiscal policies, procedures, financial benchmarking, and systems in a complex environment;
- Proven seasoned leadership success across environments of comparable size and complexity, and the energy and interest to work with all divisions of the University, large and small.
- Willingness to delegate significant responsibility to staff and provide overall leadership for the office as it relates to other parts of the University.
- Successful experience managing operations in a large, complex organization.
- Commitment to fostering relationships throughout the institution.
- Appreciation of academic values and standards of excellence.
- Respect for and understanding of mission-driven institutions.
- Ability to deal with strong personalities at all levels of the institution.
- Strong work ethic and the ability to work with large ongoing projects as well as address the daily issues that require resolution.
- Proven experience making public presentations to financial groups, including boards.
- Consensus builder with innovative vision, creativity, entrepreneurial spirit, comfort facilitating change, patience, flexibility, and the ability to engage very smart people in difficult and challenging decisions.
- Ability to work effectively as a team player in an environment with ambiguity and uncertainty.
- Ability to multi-task in a pressure-filled environment; and
- A thoughtful listener, visionary, strategic thinker, strong communicator, diplomat, and team player with unquestionable integrity.
Applications and nominations should be submitted to:
Elizabeth Adkins Neumann, Principal
Stony Brook University does not discriminate on the basis of race, religion, sex, color, national origin, age, disability, marital status, or status as a disabled or Vietnam-era veteran in its educational programs or in employment. Also, the State of New York prohibits discrimination on the basis of sexual orientation. Discrimination is unlawful.