Senior Vice President and Chief Financial Officer
- New Jersey Institute of Technology
- Newark, NJ
New Jersey Institute of Technology
Senior Vice President and Chief Financial Officer
Since 1881, NJIT has been committed to academic excellence. As one of the nation’s leading polytechnic universities, NJIT provides students with the edge they need to be leaders in today’s competitive high-tech marketplace.
NJIT seeks an entrepreneurial, collaborative, strategic, and visionary leader with exceptional analytical skills to serve as the next Senior Vice President and Chief Financial Officer (SVP/CFO). The SVP/CFO provides leadership, oversight, and stewardship for all aspects of NJIT’s financial resources while ensuring absolute institutional integrity on fiscal matters. The ambitious agenda for NJIT requires a strategically minded and operationally oriented financial approach along with a deep respect for the mission of NJIT as a driver of opportunity for talented students from all over the world. This is an exciting time to be at NJIT, and the next SVP/CFO will play an instrumental role guiding and stewarding resources to position NJIT for continued growth and excellence.
Specific responsibilities of the SVP/CFO include:
- Provide leadership in envisioning, developing, and executing the institution’s financial strategy, including financial modeling and forecasting, investing, cash management, real estate financing, treasury, endowment spending, and capital structure: As NJIT’s new strategic plan is implemented, it will be important for the SVP/CFO to model costs of priorities and develop multi-year projections and forecasts that align strategic objectives with budget allocations to enable the university to realize its goals. This includes developing multi-year financial plans, preparing financial models, and implementing annual and long-term operating and capital budgets that provide for the realization of the institution’s goals.
- Partner to advance and implement the objectives of the NJIT 2025 strategic plan: NJIT is well-positioned to achieve its vision of becoming a preeminent public polytechnic research university with global impact, and the strategic plan, Building on a Strong Foundation--NJIT 2025, is the roadmap that will guide them. The SVP/CFO will be a key player in achieving this ambitious academic and research agenda, with a continued focus on affordability and access, through operational creativity, innovation, and vision.
- Align budget strategies with existing and potential revenue streams: The SVP/CFO must be attentive to the financial implications of the complex, multi-factor revenue sources including enrollment strategies, fundraising goals, capital projects, research, and government support.
- Identify new revenue streams: With a deep understanding of higher education realities and trends and anticipation of impending developments, the SVP/CFO must think creatively about potential avenues of non-tuition revenue to augment existing sources. Creating and deepening connections with industry and government partners will be critical to this success.
- Enhancing systems, policies, and procedures: The arrival of the new SVP/CFO, along with the recent addition of a new Chief Information Officer (CIO), provides the institution an opportunity to evaluate systems and to strengthen ways to provide more useful information to executives and managers. The SVP/CFO will partner with the CIO on these efforts and will promote the utilization of technology and efficient business practices to deliver data, service, and support to the range of constituencies at NJIT.
The position requires a control minded candidate with exceptional entrepreneurial acumen, highly developed analytical skills, and superb communication abilities. The successful candidate will possess at least 15 years of experience in progressively responsible financial leadership roles, with comprehensive budget and financial planning experience, including experience in analysis and reporting, budgeting, asset management, audit compliance, and federal and state tax regulations and reporting procedures. A master’s degree in business administration, accounting, finance, economics, or related field is required; Certified Public Accountants with proven success in asset monetization are preferred. Higher education or nonprofit experience is desirable but not required. Candidates must also have a demonstrated track record of successfully executing strategies, innovations, and transformative initiatives and demonstrate a strong commitment to transparency and collaboration.
In addition, strong candidates will offer:
- Demonstrated technical competence in financial functional areas including financial reporting, internal controls development and implementation, financial planning and budgeting, financial systems implementation and management, and treasury and debt management.
- Demonstrated ability to think strategically and work proactively in the creation and management of financial and administrative solutions resulting in organizational growth and success.
- Solid business acumen in financial principles and understanding of varied business operations and industries.
- A track record of being an accessible leader and team builder who supports the professional growth of internal resources; promotes innovative thinking about problems, opportunities, and situations at all levels within the organization; and fosters a transparent culture predicated on respect.
- Ability to establish trust, credibility, and influence with the Board of Trustees, Board of Overseers, all levels of institutional leadership, and the local business community.
- Comprehensive knowledge of state budget processes, relevant regulatory reporting, filing, and compliance requirements.
- An understanding of revenue and expense trends and longer-term resource issues in higher education.
- An ability to work collaboratively with diverse groups and individuals to accomplish goals and effectively maintain relationships.
- Proven commitment to diversity and inclusive excellence.
Amy Sugin and Malissa Brennan of Koya Partners have been exclusively retained for this search. To express your interest in this role please submit your materials here. View the complete position profile here. All inquiries and discussions will be considered strictly confidential.
NJIT is an Equal Opportunity / Affirmative Action Employer and encourages women, minorities, persons with disabilities and Vietnam era and disabled veterans to apply.
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