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Director of Financial Planning and Budget/Assistant Treasurer

Company: McDaniel College
Location: Westminster
Posted on: January 26, 2023

Job Description:

Director of Financial Planning and Budget/Assistant Treasurer Category: Staff Subscribe: Department: Financial Planning and Budget Locations: Westminster, MD Posted: Nov 22, 2022 Closes: Open Until Filled Type: Full-time Position -ID: 156171 Share About McDaniel College:
McDaniel College , recognized nationally among "Colleges that Change Lives" and U.S. News and World Report top-tier liberal arts colleges, is a four-year private college of the liberal arts and sciences offering more than 60 undergraduate programs of study , including dual and student-designed majors, plus 20 highly regarded graduate programs . At McDaniel College we value our employees by offering our full-time employees tuition remission, 403B retirement accounts, paid time off, medical insurance, flexible spending accounts, life insurance, and paid maternity and parental leave. For more information about the college's benefits, please click here to review the 2023 benefits guidebook. -The Director of Financial Planning and Budget/Assistant Treasurer serves as the College's senior budget officer responsible to the Associate Vice President for Finance. This position collaborates with the president, provost, vice presidents, deans, directors and department heads to effectively translate approved operating plans for the College units into one-year operating budgets and multi-year financial strategies. This position plans, prepares, presents, monitors and updates the annual budget.This position is responsible for working in close coordination with the Associate Vice President for Finance to ensure the accuracy of the College's reporting systems. Additionally, the position has primary responsibility for the endowment and similar funds to ensure that the restricted purposes are fulfilled. Assists in management of the investment program of the College as directed by the Board of Trustees.Specific ResponsibilitiesCoordinates the College's budget process.

  • Provides support to the Finance and Facilities Committee of the Board of Trustees.
  • Develops annual budget cycle schedule, preparation packets and instructions. Provides departmental and divisional assistance and advice. Models financial scenarios and advises the Leadership Team on ramifications of options. Prepares annual financial plan using computer models and external modeling software. Presents plan to Board of Trustees for approval through the Finance and Facilities Committee.
  • Prepares revised budget each Fall semester and advises the Leadership Team on budget adjustment options.
  • Monitors budget status throughout fiscal year and alerts department and division heads of problem areas.
  • Monitors the college cash flow and reserve balances.Participates in strategic planning for the College.
    • Collaborate with Enrollment Management to model the fiscal impact of enrollment on long-range goals for the College.
    • Produces the financial appendix of the annual revision of the College Long Range Plan.
    • Formulates and prepares models for use in strategic planning for the College.
    • Performs ratio analysis to evaluate the financial condition of the College and makes recommendations for appropriate changes.
    • Updates and monitors the College's five-year budget model.Responsible for relationships with outside financial institutions.
      • Arranges debt and bond financing. Evaluates options, determines appropriate financial vehicles, negotiates terms, and recommends for approval to the Vice President and the Board of Trustees.
      • Develops policies and procedures for cash management/short-term investment. Determines appropriate options and maintains investments.
      • Evaluates the banking relationship between the College and the lead bank at regular intervals. If necessary, develops a request for proposal, evaluates options, and recommends action to the Vice President and the Board of Trustees.Responsible for accounting for the endowment and similar funds.
        • Maintains unitized records of endowment held by the College.
        • Serves as liaison with the College's external endowment manager and fund custodians. Coordinates efforts with the Office of Institutional Advancement to ensure that gifts are maintained in appropriate investments according to their restrictions. As a non-voting member of the Budget and Finance Committee, assists in policy development and carries out investment policies and procedures.
        • Oversees distribution of endowed unitized funds such as awards, scholarships, lecture, chairs, etc.
        • Oversees endowment draw to support operating budget.
        • Ensures accurate maintenance of and timely payments for all annuities and trusts. Arranges for preparation of annual fiduciary tax returns for all charitable remainder trusts and annuities held by the College.
        • Prepares audit work papers for endowment and similar funds.
        • Prepares annual endowment surveys in which the College participates.Provides assistance to the president, provost, vice presidents in any special projects and performs other related duties as assigned by the Associate Vice President for Finance.
          • Bachelor's degree from accredited four-year college or university, preferably in business administration/finance or accounting with strong preference toward experience in higher education.
          • Advanced proficiency with MS Office specifically using Excel.
          • Excellent written and oral communication skills, including the ability to communicate with all levels of the organization.
          • Knowledge of financial systems, Colleague preferred.
          • Knowledge of banking institution practices and services.
          • Highly motivated, self-starter capable of working in multiple systems.
          • Integrity in dealing with confidential information.
          • Champion for equity and inclusion both internally and externally.
          • Ability to use critical thinking to assist in decision-making.
          • Ability to prioritize work follow-through with attention to detail and accuracy.Working ConditionsWhile performing the duties of this job, the employee is routinely working in a normal office environment with minimal exposure to adverse conditions. The noise level in the work environment is usually minimal. Physical AbilitiesThe physical demands described below are representative of those that must be met by an employee to successfully perform the essential functions of this job:
            • Sitting for long periods of time.
            • Some bending and stooping when working with files. -
            • Limited lifting involved but not more than 10 pounds at a time. -
            • Finger dexterity for typing and use of other office equipment. -
              Additional Information:
              McDaniel College, an equal opportunity employer, does not discriminate in the recruitment, admission, and employment of students, faculty, and staff in the operation of any of its educational programs and activities. McDaniel College will not tolerate any discrimination or harassment on basis of any protected status including race, religion, color, national origin, disability, age, sex, sexual orientation, gender identity, pregnancy, military status, genetic information, marital status, veteran's status or any other legally protected status. For more information on the College's commitment to diversity, equity and inclusion, please visit .
              Application Instructions:
              Completed applications must include a cover letter addressing position qualifications and related experience, resume, the names and contact information of three professional references, and a completed job application. Review of applications begins December 12, 2022.

Keywords: McDaniel College, Denver , Director of Financial Planning and Budget/Assistant Treasurer, Accounting, Auditing , Westminster, Colorado

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