Position Title: Director of Budget and Financial Planning
From its inception, Olin College has sought a team of faculty, administrators and support staff who understand its mission and can help to develop this innovative college in Needham, MA. As with many growing organizations, it is imperative to hire individuals who not only carry out their own immediate responsibilities, but who also can contribute to other offices, functions and activities outside the normal scope of a job description. In other words, we are looking for "team players" who understand and support the mission of the college.
Therefore, we will seek employees: who can handle a number of tasks simultaneously; who are hardworking, flexible and adaptable; who can see the big picture and reprioritize their work accordingly; who can work unsupervised and take initiative; who will look for ways to assist other staff when appropriate; who see themselves as an important member of a spirited and dedicated team; and who conduct themselves professionally.
General Duties and Responsibilities:
The Director of Budget and Financial Planning performs all budget development and monitoring, and the short- and long-term planning processes for the college. The successful candidate will develop, implement and maintain College-wide budgetary and financial planning policies, processes and procedures. The Director of Budget and Financial Planning reports to the Assistant Vice President (AVP) for Financial Affairs with a dotted line to the VP for Financial Affairs and CFO/Treasurer (VP/CFO).
This position does not have any direct reports, and is the sole person responsible for all budget, forecast and financial planning functions.
Budget and Planning Responsibilities:
- Oversees the annual budget development and quarterly budget forecast processes. This involves working collaboratively with the CFO, AVP, and Budget Managers in departments to establish and manage the annual budget and two forecasts.
- Continually monitors adherence to Board-approved budgets. Prepares and maintains balanced operating, capital, and cash budgets.
- Designs, develops and maintains all short- and long-term financial planning models, including alternative scenarios, to support the College’s strategy and mission.
- Prepares pro-forma financial plans for new programs, new construction, new debt issues, etc, that are under consideration, including the projected impact on financial statements and ratios.
- Works closely with Cabinet members to identify and analyze various financial and budgetary issues, evaluates budget requests, makes budget recommendations to the AVP for Financial Affairs and CFO and delivers comprehensive financial analyses to support strategic and financial planning efforts.
- Manages the budget process by working with departmental Budget Managers in the strategic planning of their respective budgets and allocation of limited resources.
- Understands the college’s business model, develops reports to enhance effective decision-making, and analyzes large data sets for management.
- Contributes to the college’s ability to meet strategic objectives by conducting financial analyses of current and proposed activities.
- Provides staff support to the Trustee Finance and Facilities Committee including drafting reports and providing analysis. Attends meetings as needed.
- Works collaboratively with the Financial Affairs team and across the College to share relevant information and streamline and improve budget and forecasting processes.
- Works collaboratively with the AVP and Chief Information Officer to coordinate any upgrades to the existing system and/or new system implementations.
- Maintains the Budget module in the college’s ERP system (currently Jenzabar CX)
- Trains and directly assists departmental Budget Managers on budgetary compliance and budgetary procedures. Develops and implements tools for use by Budget Managers so that they can effectively manage their budgets. Proactively designs and administers budget and financial educational sessions for Budget Managers and administrators.
- Ensures that all departmental processes are adequately documented. Prepares, maintains, and keeps up-to-date the departmental policy and procedure manual(s).
- Assists in the preparation of presentations for the VP/CFO as needed.
- Drives continuous improvement to improve communication and flow of information to and from the departmental Budget Managers.
- Represents Olin in the Budget community of practice within the Boston Consortium for Higher Education.
- Other duties as assigned.
- Bachelor’s degree required, preferably in Finance or Accounting.
- Master's degree in business administration (MBA) or certified public accountant (CPA) preferred.
- 10 years of related budget, projection and long-range planning experience required, including two years’ experience managing a budget process.
- Solid working knowledge of not-for-profit GAAP (generally accepted accounting principles) as it applies to higher education.
- Must have strong strategic and analytical ability, including experience in budget development, financial applications, and accounting systems.
- Must be able to work with limited direction and comfortable making decisions and/or recommendations to leadership.
- Higher education or other large not-for-profit work experience preferred.
- Excellent interpersonal and organizational skills. Must be able to effectively communicate both orally and in writing with all levels of employees, supervisors, management, and outside contacts.
- Intermediate or advanced Excel skills, and experience dissecting and analyzing large data sets a plus.
- Ability to maintain confidentiality of sensitive data and materials.
- Experience with Adaptive Insights and/or Jenzabar CX is a plus but not required.
Please send resume and cover letter to email@example.com. Please include your reason of your interest in working at Olin College of Engineering.
In accordance with its own values and with federal and state regulations, Franklin W. Olin College of Engineering does not discriminate in admission, programs, services or employment—including the recruitment, hiring, training and promotion of persons in all job classifications—on the basis of race, color, religion, gender, national origin, sexual orientation, age, physical or mental disability, or veteran status.
Olin College is an Equal Opportunity Employer.