POSITION IDENTIFICATION
TITLE Chief Financial Officer
CLASSIFICATION NUMBER 0020
GRADE Unclassified
CLASSIFICATION Exempt
IMMEDIATE SUPERVISOR President
MAJOR ADMINISTRATOR President
GENERAL FUNCTION
The Chief Financial Officer advises the President on all matters pertaining to the management and operation of accounting, accounts receivable, accounts payable, budget management and control, bursar, student aid disbursement, budget preparation, financial information systems, credit management, collections, fiscal planning, financial statement preparation, investing, and payroll. The Chief Financial Officer exercises a major responsibility for the accounting and investing of the Missouri State University Foundation and the Missouri State University Development Corporation, serves as the Treasurer of the Board of Governors and as the Treasurer to the Foundation’s Board of Trustees. The Chief Financial Officer helps to promote a customer-oriented service attitude and serves as the executive officer directly responsible for providing leadership and general management of the following financial service units:
Controller: University payroll operations, cash management programs, investments, coordination with independent auditors, and coordination of the collection of student loans and other accounts receivable items.
Accounting: Budget control, accounts receivable and accounts payable processing, supervision of financial transactions that affect the general ledger, and preparation of the financial statement of the University.
Grants and Foundation Accounting: Accounting and administrative control to maintain University grants and contracts and accounting operations of the Missouri State University Foundation.
Bursar: Central collection for all monies received by the University, check-cashing services for students, faculty, and staff, and custodian for various University funds.
Budgeting: Data collection and preparation of both the appropriations request to the State of Missouri and the annual internal operating budget.
Procurement: Purchasing, solicitations, departmental procurement cards, property control, central receiving and shipping, real estate acquisitions, risk management and insurance.
Financial Information Systems: In cooperation with Computer Services, maintains and upgrades computer systems which capture information required for internal and external financial reporting.
MINIMUM ACCEPTABLE QUALIFICATIONS
Education: A Bachelor’s degree is required; a CPA or a Master's degree is preferred.
Experience: Extensive financial and budget management experience in an institution of higher education is required.
Skills: Strong leadership and strategic planning abilities are required. The ability to project a strong positive image of the University through interaction with all constituencies conducting business with the University, including the media, is required. Executive problem-solving skills and the ability to organize and manage complex functions are required. Exceptional aptitude in financial activities management is required. Must be skilled in using financial management software commonly used in higher education. Excellent written and verbal communication skills are required. Demonstrated success in working with persons from diverse backgrounds is required. Demonstrated experience promoting a diverse workforce is preferred. A successful track record of innovation is preferred.
ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Promotes the financial well-being of the University by providing budget management, monitoring appropriate investments of temporary cash balances, exercising executive control over University budgets, and safeguarding all financial assets of the University.
2. Advises the President, senior University administration officers, and members of the Board of Governors on issues relating to the financial status of the University by serving as a member of the President’s Administrative Council, reporting financial information at Board of Governors meetings, and by preparing reports, recommendations, findings, and other correspondence as required.
3. Helps to ensure achievement of the goals and objectives of the University by overseeing the preparation of an annual appropriations request to the State of Missouri and overseeing the preparation of an internal budget using budget models to project future revenue and following established policies for expenditures.
4. Facilitates an effective working relationship with state officials by ensuring University compliance with state fiscal policies and accounting procedures, maintaining open channels of communication with appropriate state officials, facilitating an exchange of information on these subjects, and implementing all relevant state policies regarding fiscal operations.
5. Ensures compliance with professional accounting standards, rules, regulations, and laws by directing, supervising, and facilitating the preparation and maintenance of required and appropriate financial records, monthly and annual financial reports, and all other financial reporting as may be required by federal, state, local agencies, or established accounting standards.
6. Facilitates the governance of the University by providing financial information to the Board of Governors and implementing the Board’s decisions through the establishment of policies, procedures, and guidelines.
7. Prevents institutional liability in financial operations by facilitating the access of the independent auditors to requested records during the conduct of the University's annual audit.
8. Ensures compliance with the institutional mission of the University by working with unit managers to develop and review unit plans, goals, and objectives, assuring development of effective business processes incorporating automation with appropriate technologies, designing systems of effective controls to guide work toward expected outcomes, and evaluating progress towards their accomplishment.
9. Ensures that Financial Services has the resources necessary to provide financial information to support the academic program, such as preparation of financial reports and the development of incentive funding and cost recovery models that support innovation and growth.
10. Ensures efficient and effective operation of the procurement function by overseeing procurement services, property and receiving as well as all University real estate transactions and risk management/insurance analysis and transactions.
11. Enables division employees to perform their assigned tasks by overseeing the preparation and implementation of the annual budget for Financial Services.
12. Facilitates a work environment that encourages knowledge of, respect for, and development of skills to engage with those of other cultures or backgrounds.
13. Remains competent and current by reading professional journals and literature, developing professional contacts with colleagues, attending professional development courses, and attending training and/or courses as appropriate.
14. Ensures that miscellaneous assignments related to Financial Services are completed in the best interests of the University by accepting and accomplishing all other tasks assigned by the President.
SUPERVISION
The Chief Financial Officer reports directly to the President.
OFFICE OF HUMAN RESOURCES
REVISED OCTOBER 2012