Vice President and Chief Financial Officer
Vice President and Chief Financial Officer
St. Olaf College (Northfield, MN) invites applications, expressions of interest, and nominations of candidates in its search for its next Vice President and Chief Financial Officer (VP and CFO). The next VP and CFO will be joining St. Olaf at an exciting inflection point as the College welcomes Dr. Susan Rundell Singer as its new President in June 2023. A strategic partner to Dr. Singer, the VP and CFO will join a forward-thinking and innovative leader as St. Olaf positions itself for continued momentum into the future.
Founded in 1874 by Norwegian Lutheran immigrants, St. Olaf is a nationally ranked liberal arts college of the ELCA located in Northfield, Minnesota. St. Olaf offers a traditional four-year liberal arts education distinguished by both breadth and depth. Within the bachelor of arts and bachelor of music degree programs, 50 academic majors are offered in the natural sciences and mathematics, fine arts, social sciences and humanities as well as the opportunity for self-designed majors. The college employs 313 full- and part-time faculty members and has a student-faculty ratio of 12:1. In addition, 533 staff members support the college’s mission and its many functions.
St. Olaf’s more than 3,000 students hail from nearly all 50 states and more than 95 countries, representing diverse backgrounds and experiences. Nineteen percent are first-generation college students, 22 percent are domestic students of color, and 11 percent are international. Students come from a wide range of religious traditions as well as no faith tradition.
St. Olaf’s $696.2 million endowment supports many aspects of the life of the college, including financial aid for students, professorships, and academic and co-curricular programs. The college is one of fewer than 80 colleges and universities in the nation committed to meeting the full demonstrated financial need of every admitted student. Annually, 96 percent of students receive need- or merit-based financial aid.
The VP and CFO is responsible for the financial leadership of the college, which includes an operating budget of $141.3 million. St. Olaf’s Moody’s rating is A1 – stable. The VP and CFO has oversight of four direct reports and a staff of more than 100 FTE. The role directs budgeting, financial reporting and analysis, investments, cash management, debt management, environmental health and safety, and stewardship of all financial and physical assets of the college. In addition, the VP and CFO oversees facilities and guides the planning, financing, and implementation of all capital management activities including land acquisition and leases.
The VP and CFO advises the Board of Regents, President, and executive team in matters of strategic decision making, resource management, and fiscal sustainability, serves as the leadership liaison to the Board’s Finance, Investment, Audit, and Buildings & Grounds Committees, and serves as the college’s Compliance and Risk Officer.
The successful candidate will be an experienced financial executive with a successful record of managing diverse operations and demonstrated expertise in strategic asset/liability management, financial planning and management, strategic planning, accounting, and budgetary and regulatory compliance. In addition, the successful candidate will have exceptional communication skills; be solutions oriented; be an affirming team builder who will empower others and optimize the effectiveness of a talented and seasoned team; have a commitment to and track record of achievement in a range of initiatives related to diversity, equity, inclusion, and cultural competency; and bring an energetic, optimistic, authentic, and relational approach to the role.
A minimum of a bachelor’s degree in finance, accounting, business administration or a liberal arts and sciences discipline is required, with an MBA or graduate degree in a relevant field preferred. The ideal candidate will bring senior financial and operations management experience in a national liberal arts college or relevant experience elsewhere at an organization of comparable scope, scale, and complexity.
Nominations and applications should be submitted electronically as soon as possible. The search committee will begin to evaluate applications in May 2023. Although applications will be welcomed until the time that a new VP and CFO is selected, candidates should submit materials no later than June 19, 2023, to ensure fullest consideration. The new CFO is expected to begin serving in August 2023. Applications should include a letter of candidacy that responds to the agenda for leadership and the desired attributes for the VP and CFO and a complete résumé or vita. All application materials will be considered in full confidence. Please send all nominations, inquiries, and applications, electronically to:
Julie E. Tea, Managing Director
Lindsay Allison, Senior Associate
St. Olaf College is an equal employment opportunity and voluntary affirmative action employer. The College is committed to providing an inclusive and welcoming environment for all members of our community. With regard to its hiring and employment practices, the college prohibits all forms of discrimination and harassment based upon an individual’s legally protected status including race, color, creed, national origin, gender, gender identity, gender expression, sexual orientation, age, religion, disability, marital status, veteran status, or status with regard to public assistance.
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