Executive Director, Finance

Department: MED-Office of Finance & Admin
Salary/Grade: EXS/17

Job Summary:

The Executive Director, Finance is responsible for financial accounting and control in the Feinberg School of Medicine ("Feinberg"). This position will supervise, lead and direct the Feinberg finance staff, as well as senior departmental staff in financial planning, reporting, performance monitoring, budgeting, and special modeling and analysis. The Executive Director will also advise Feinberg leadership on financial policy and performance, serving as a key advisor and member of the Dean's Executive Committee. This position will be responsible for recommending strategic financial and business planning in line with Feinberg's goals, missions and growth.

The Medical School is part of Northwestern University. Approximately 3,500 trainees are enrolled pursuing M.D., Ph.D., or other degrees as well as graduate medical education. Over 4,800 faculty, including 2,300 regular full time faculty, conduct research, provide patient care, and educate students. Approximately 2,100 university staff members support the faculty in these activities. The annual operating budget of the Medical School, including affiliated faculty medical practice groups exceeds $1 billion. Endowments with a market value of ~$3 billion support the medical school missions of teaching, research and patient care.

Specific Responsibilities:

• Responsible for development and management of comprehensive budget model and long-range financial plan for the Feinberg School of Medicine. Budget structure may require "stand-alone" financial health to not only ensure that the school and its departments/units can financially support its strategic plan but also requires providing financial and strategic support to strengthen and enhance the University's reputation. Facilitate the use of key performance indicators/metrics and School-wide financial analysis to support informed decision-making.
• Responsible for developing and managing the completion of the Feinberg School of Medicine's annual budget. Recommends budget parameters to Dean and executive team for administrative and finance units based upon those provided by the Budget Office. Reviews and partners with senior level management from all departments, centers and institutes to finalize proposed budgets ensuring compliance with established budget parameters as well a consolidated school/department balanced budget. Analyzes and revises as necessary procedures for the budget process and daily school operations. Interprets and applies pertinent rules, regulations, policies and procedures set forth by the University Budget Office, or outside governing agencies.
• Assumes primary responsibility for addressing budget planning issues with Northwestern University, Northwestern Medical Group, affiliated hospitals, and other faculty practice plans. Accountable for the school's financial ability to maintain a balanced budget and if applicable, self-sustainable financial position.
• Directs supervision of financial staff including performance management, training, recruitment, problem resolution, motivating to achieve peak productivity and performance and managing /coordinating workflow and prioritization of assignments. Assesses finance team on an on-going basis and initiates the implementation of best practices including workflow design, process improvements and documentation of standard operating procedures. Provide budgetary management and implement policies and best practices to departments, centers and institutes.
• Manages the development, preparation and maintenance of analytical financial tools used to measure the individual net financial performance of all departments/units as well as the consolidated school income statement and balance sheet for the Dean. Establishes proper accounting and audit trail for revenue and expenses related to programs and initiatives that cross departments and schools. Accountable for analysis of financial processes for the purpose of continuous improvement in financial management and continuity of financial operations.
• Ensures compliance of the financial processes and systems in accordance with University policies including the implementation and monitoring of financial controls and the training of managers with financial responsibilities. Manages the completion of the annual fiscal year-end close. Partners with school/department development team to manage the use of endowment and gift funds to ensure donor intent. Coordinates with Budget Office and other schools for proper recording of cross school transactions; prepares consolidated financial statement to report final net position; & provides Budget Office with variances from expected performance.

Miscellaneous

Performs other duties as assigned.

Minimum Qualifications:

• Bachelor's degree in accounting, business or finance and 10 years of budget and financial analysis experience. Or equivalent combination of education and experience in which comparable skills are developed.
• At least seven years of experience developing financial reporting and analysis tools highly desirable. Prior University financial experience is helpful but not required.
• At least three years of management responsibility, including all aspects of management from recruiting to goal setting and performance management.

Preferred Qualifications:

• A master's degree in business administration or a related field.
• A Certified Public Accountant designation
• Not-for-profit health care or university financial experience.

Target hiring range for this position will be between $210,354.00 to $275,485.00 per year. Offered salary will be determined by the applicant's education, experience, knowledge, skills and abilities, as well as internal equity and alignment with market data.

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