Reports to the President and CEO and functions as CFO & Treasurer with overall responsibility for finance, payroll, budget and accounting, and financial reporting. facilities/real estate insurance/risk management and contractual matters. Responsible for planning, organizing, and directing the above disciplines with staff in support of the Foundation's service mission to West Virginia University (WVU), WVU Medicine (WVUM) and related non-profit affiliates.

The CFO is expected to be proactive in development and implementation of policies, procedures, strategies and the analysis and improvement of finances, and financial operations. The CFO provides strategic as well as day-to-day management of financial, payroll, institutional business planning, facilities/real estate, and other related functions. Specifically, ongoing duties include oversight of finance, accounting, facilities/real estate controllership/ treasury management functions, financial reporting, regulatory filings, endowment fund management/policy, external audit, planned giving accounting and settlements, and insurance/risk management.

The CFO must ensure that the Foundation operates in conformity with Local, State and Federal laws and regulations and internal policies. In the pursuance of the office's responsibilities, the CFO has a wide degree of latitude and flexibility while providing support for Foundation operations, including a balance sheet of $3.5 billion in total assets and operations exceeding $125 million, annually across 6000 individual funds for WVU/WVUM and their non- profit affiliates

Essential Functions And Responsibilities

Serves as Corporate Treasurer for the WVU Foundation Board of Directors regarding financial matters, reporting to regulatory bodies, custody of assets and establishment of relationships with financial institutions.

Serves as the principal advisor and corporate officer to the President & CEO and Board of Directors on strategic and financial matters.

Serves as a member of the Executive Team and assists the President & CEO and other leaders with Foundation matters as assigned.

Provides direct support to the Finance/Administration Committee Prepares Board materials and presents information in a clear/concise manner. The CFO provides the financial posture of the Foundation to the Board of Directors on a quarterly basis.

Develops both strategic/operating plans, including serving as principal architect/manager for the three-year business plan, annual budget and related analytical studies. Develops policy and procedures on all matters relating to functional areas of responsibility. Presents proposals for new policies and changes of existing policies to the President & CEO and/or Board of Directors for discussion and approval. Recognizes problems and opportunities in financial and operational functions and develops practical solutions.

Plans and oversees the work of subordinate functions so that responsibilities are met. Delegates management of daily matters to the maximum prudent extent. Controls work or subordinate positions for effective and timely completion. Brings unusual problems and recommended solutions to the attention of the President & CEO. The CFO manages operations to consistently deliver exceptional quality service to the Foundation and the University.

Manages the application of objectives, standards, and procedures of the Foundation. Applies management and financial theories and principles to operational decisions. Establishes systems to maintain compliance with the Foundation's administrative policies. Interprets and communicates how financial policies impact our user base, inclusive of WVU/WVUM.

Reviews and approves contracts and agreements (gifts, life income plans, contracts, etc.) Coordinates review by legal counsel as warranted. Reviews and approves disbursement checks over $5,000 together with the CEO and other Board authorized signers.

Represents the Foundation externally on general and specific financial administrative matters through effective written and verbal communication.

Strives to communicate and promote the work of the Foundation. Effectively develops and utilizes relationships with accountants/auditors, tax specialists, bankers, business leaders, etc. Serves as liaison with senior members of the University and WVU Medicine staff on financial and administrative matters.

The following is a concise description summarizing the scope and depth of functional areas of responsibility for the position.

Finance/Accounting - General responsibility to oversee the preparation of financial statements and the completion of the annual financial statement audit. This includes controllership, treasury and oversight of accounting software selection and implementation(s).

Institutional Research and Planning – General responsibility for peer data collection/comparison, higher education sector surveys, advancement support/fee analysis, business plans, and fund reviews/entity analysis related to efficiency and effectiveness for the Foundation as a whole. Shares with leadership and explains efficiency measures to the F&A committee and Board of Directors.

Payroll/Retirement Plans – Oversees bi-weekly processing and distribution of payroll working closely with TM&C, assures finance staff reviews and approves compensation and benefit changes in accordance with policy. Also arranges for funding of payroll, labor cost allocation in coordination with senior administrators for the hybrid nature of funding for Development Officers by the University and WVU Medicine. Serves as retirement plan advisor , reviews offerings and approves changes to the plan. Also serves as a member of the retirement plan staff committee.

Facilities Management – General oversight of Foundation facility matters, including corporate headquarters building/grounds/real estate.

This also includes purchasing and other centralized general office support functions and POA for the Waterfront Complex. (Marriott/WVUF/WVU/Condo Owners/Grounds etc.) Assigns WVUF staff members to serve in corporate roles such as President, Secretary or Treasurer working in concert with our business neighbors and friends of the Waterfront.

Compensation and Benefits – Prepares and presents the annual salary and fringe benefit budget with the WVUF president & CEO to the Compensation Committee of the Board for approval. This includes working with Executive Officers on staffing needs and alignment with available resources and the overall budget plan for the Foundation. Provides counsel on complex salary and benefit administration as requested, particularly health insurance and retirement plan in accordance with DOL and IRS rules.

External Audit - Identifies possible control weaknesses. Assigns priorities and monitors the work of the Foundation team. Negotiate agreements for independent audit and tax services Directs the annual financial statement audit and employee benefit plan audit for the defined contribution retirement plan, including required filings with the Department of Labor and reports same to the audit committee.

Budgeting - Oversees the preparation of the annual revenue and expense operation budgets. Approves various budgetary expenditures prior to submission to the President & CEO. Identifies and implements means for revenue enhancements and cost reductions. Monitors and analyzes budget performance and works with EO’s/Budget Officers to assure revenues and expenditures are in balance

Financial/Business Planning – Develops 3-Year Business Plan in concert with annual budgeting process and in alignment with long term strategies for the Foundation. Presents and seeks Board of Directors endorsement of the plan components at F&A committee and/or Board meetings.

Financial Reporting - Oversees and monitors reporting systems and work products for finance and university access. fundraising reports, management reports, University reports, Grant Sponsor reports, donor reports and organization wide dashboard for the President’s report to the Board of Directors on a quarterly basis. This includes Fundraising, Investments, Finance, Talent Management & Culture, and Internal Audit.

Fiduciary Operations - Oversees the financial and accounting operations of the Foundation, including revenue and non-gift receipting, disbursements, transfers, pledges, and collections. Assumes overall responsibility to ensure the revenue collected and expenditures made conform to laws, regulations, donor restrictions and Foundation policy.

Real Estate Administration - Oversees the management of real estate assets, legal matters, due diligence, and environmental reviews related to gifts and/or mineral rights. Directly supervises the Director of Real Estate/Administration and related legal & financial matters with internal/external counsel.

Regulatory Compliance - Assesses the financial and administrative impacts of relevant legislation and regulations and proposes and implements appropriate changes in policy or procedure. Keeps informed of regulatory or technical developments and pending matters important to the Foundation.

Debt & Risk Management - Coordinates the issuance of bonds or other debt instruments which obligate the Foundation. Including bond issues, mortgage refinancing and other financing arrangements. Interviews with and provides financial information and support for annual interviews with Standard and Poor’s and Moody’s to maintain the Foundation’s credit rating annually. (Currently, A+ with stable outlook) Maintain strong relationship with rating agencies.

Tax Planning, Strategy, and Global Compliance – Oversees preparation of Form 990, 990T and over three dozen individual state income tax returns for unrelated business income from investment operations and foreign filings. Establishes tax minimization strategies in the best long-term interest of the Foundation, working closely with internal and external CPA’s and attorneys.

Legal Liaison - Serves as liaison with Foundation Legal Counsel on various matters such as fund administration, real estate matters tax, exemption issues and other financial or budgetary matters. Monitors all legal services and approves transactions monthly Provide a summary of legal costs and recommendation for services as appropriate

Qualifications

Education and or Experience

Advanced degree in Business/Finance (MBA or other relevant master’s degree) and/or Certified Public Accountant (CPA), Certified Management Accountant (CMA) also a plus; 12- 15 years related experience as a Senior Executive (CFO) in the not-for-profit sector with expertise in finance, management accounting/reporting administration, investments, fundraising, planning, facilities, real estate, contracts, legal matters advancement solutions and large endowment/investment pool management from an accounting perspective.

Language Skills

Ability to read, analyze and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, donors, and the public.

Reasoning Ability

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram or schedule form.

Computer Skills

To perform this job successfully, an individual should have knowledge of CRM software, spreadsheet software, finance and accounting, charts, graphs, and word processing.

Physical Requirements

While performing the responsibilities of the job, the employee is required to talk and hear. The employee is often required to sit and use his/her hands and fingers, to handle or feel. The employee is required to stand, walk, reach with arms and hands, and possibly at times, climb or balance, stoop or kneel. Vision abilities required to perform this job include close vision. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform these essential functions.

Supervisory Responsibilities

Directly manages the Associate VP for Finance, Controller, Director of University Support/Budget Management and a Finance Associate. AVP for Facilities/Infrastructure, and the Director of Real Estate/Administration serves as Corporate Treasurer and is responsible for the overall direction, coordination, and evaluation of the above areas of Finance and accounting.

Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.

Other Duties

Work Environment: The position is expected to be hybrid in alignment with the WVUF work/telecommuting policy.

West Virginia University Foundation

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Chief Financial Officer and Treasurer