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.
Requirements:
Qualifications
- 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
https://www.mcdaniel.edu/about-us/diversity-equity-inclusion .
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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