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Director of Budget and Finance

Job Posted 3/10/2025
Allegheny College
Meadville, PA 16335
Category Management
Job Description
Director of Budget and Finance March 4th 2025
Tagged: Financial Services

ROLE TITLE: Director of Budget and Finance

POSITION REPORTS TO: Chief Financial Officer (CFO)

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Summary of Position:

Under the direction of the Chief Financial Officer, the Director of Budget and Finance is responsible for Budget and Financial Operations of the College, including but not limited to the following categories: budget, general accounting, financial reporting, accounts payable, cash disbursements/management, student accounting, plant accounting, grants and restricted accounts, banking relations, and regulatory compliance. This role provides leadership across multiple financial departments and works closely with senior leadership to ensure financial activities align with institutional goals and objectives. Working with the Chief Financial Officer, the Director of Budget and Finance develops, interprets, and implements policies and procedures to ensure the efficient and effective operations of all fiscal aspects of the college and is responsible for the composition and development of a professional financial team that is responsive to college customer needs, while ensuring the financial integrity of the college. The Director will seek out areas for continuous business process improvement and improved customer service and implement policies, procedures, and programs to support Allegheny College's Strategic Plan (Pathways). The Director of Budget and Finance directly provides leadership to and supervises the Assistant Directors ensuring effective budget and financial management, team development, and cross-departmental collaboration to support the College's long-term financial sustainability and growth.

The Director of Budget and Finance has the responsibility for safeguarding and administering college financial resources, and ensuring compliance with Federal, State, and college guidelines. The role has administrative responsibility for financial accounting and reporting of all college financial resources. The Director collaborates with other college administrators and staff, especially the CFO, on budget development and budget management. The Director is active in the shared governance of the college and should have strong support for senior leadership and others to ensure the college's financial health.

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As the Director, you will:
  • Budget Planning, Financial Performance & Enterprise Data Management
    • Define and assess the College's financial performance through data management, reporting, financial forecasting, and policy implementation.
    • Ensure financial data integrity, leveraging business intelligence tools for real-time analysis and reporting.
    • Develop and maintain financial models to support strategic decision-making and institutional planning. Work with the CFO and senior leadership on a robust budget planning model, to be utilized for multi-year budget planning, forecasting, monitoring, and assessing budget to actual performance throughout the year.
    • Recommend budget strategies for consideration by CFO and senior leadership.
    • Maintain College's chart of accounts; ensure the accuracy of financial and accounting information.
  • Financial Management & Reporting financial stewardship
    • Maintain all financial operations, ensuring compliance with accounting standards, policies, and internal controls.
    • Provide accurate, user-friendly, and timely financial reports to departments, senior leadership, the Board of Trustees, and external stakeholders.
    • Enhance reporting and communications of financial information based on audiences, timing, and needs of the institution.
    • Guide financial planning efforts to align resources with institutional priorities.
    • Under the direction of the CFO, provide day-to-day support of various funds and accounts. For donations and grants, coordinate and collaborate with appropriate staff in Institutional Advancement, as appropriate.
  • Budgeting & Strategic Financial Planning
    • Provide stewardship for the multi-year and annual budget development process, working with key stakeholders and/or department heads to ensure alignment with institutional priorities and develop strategies to achieve those priorities.
    • Monitor financial performance against budget forecasts, making recommendations for resource allocation and cost efficiencies.
    • Ensure that budget and financial needs are integrated into the overall budget.
    • Ensure that issues are identified and communicated in a proactive and timely manner, along with potential solutions for consideration for the CFO and others. Develop budget analysis and projections on various items, as needed.
    • Provide partnership to the CFO in leadership for the allocation of college resources.
    • Provide support to the CFO in the development of detailed analysis and reporting, budget modeling, and allocation activities, with the goal of ensuring a balanced budget that reflects the priorities of the college.
  • Treasury & Cash Management
    • Monitor and manage cash flow, ensuring adequate liquidity for operational needs and strategic initiatives.
    • Reviewing disbursements, receipts, with particular attention to cash flow, timing and risk
    • Oversee treasury management, including cash forecasting and compliance with liquidity policies.
    • Work with the CFO to manage restricted and other types of funds, ensuring compliance with financial policies and regulations.
    • Forecast expenses, monitor daily banking activity, and manage the timing of payments effectively.
  • Audit, Compliance & Risk Management
    • Oversee the annual external audit process, including the preparation of financial statements, audit reports, and required disclosures.
    • Ensure compliance with IRS Tax Form 990 requirements and other external reporting obligations. Maintain strong internal controls and risk management practices to safeguard College assets.
    • Financial Reporting - Annual audits, financial statements, reporting to board.
  • Student Accounts Oversight
    • Supervise the Assistant Director in managing student accounts receivables, billing, and collections.
    • Collaborate closely with the Office of Financial Aid for student billing and reporting as well as government cash transactions and report ensuring alignment with federal and state regulations.
    • Ensure that student financial processes are transparent, efficient, and supportive of institutional access and affordability goals as well as in support of overall student success.
    • Develop clear, timely, and easy-to-understand communications strategies of key information for students and implement that communication plan effectively.
  • Supervision & Organizational Leadership
    • Establish and maintain an effective organizational structure to accomplish the overall goals of the finance office.
    • Directly supervise the Assistant Director's, ensuring budget and financial operations align with institutional goals.
    • Provide mentorship, training, and professional development to finance staff, fostering a culture of continuous improvement and a strong professional financial team.
    • Provide and promote programs, plans, training, and educational opportunities to maintain and improve the professionalism of budget and finance staff.
    • Promote effective communications with focus on building morale and team concepts.
  • Cross-Departmental Collaboration & Institutional Support
    • Liaise, support, and collaborate with senior leadership, faculty, staff, students, vendors, alumni, and the Board of Trustees on financial matters.
    • Ensure that services are delivered in a manner which meets the needs of students and all others whom we serve (administrators, government officials, vendors, etc.) by promoting and guiding continuous review and improvement process.
    • Provide assistance and consultation to all segments of the college regarding budget and financial matters.
    • Provide leadership in the development and implementation of fiscal policies.
    • Provide leadership for the development of solutions to financial challenges and the enhancement of fiscal operations.
    • Serve as reviewer of matters with respect to various college budget and financial related matters, to the college constituencies on behalf of the CFO and/or senior leadership.
    • Recommend changes regarding the establishment of priorities, taking into consideration fiscal resources and limitations regarding their use.
    • Represent the finance department in institutional committees, strategic planning efforts, and cross-functional initiatives.
  • Financial Stewardship & Data Integrity
    • Oversee the integrity, accuracy, and security of financial data, ensuring compliance with data governance policies, the security, accuracy, and efficiency of financial data management systems.
    • Work with IT to optimize financial reporting systems and data analytics for informed decision-making. Maintain transparency in financial processes to support institutional accountability. Ensure the integration of subsidiary systems integrate into the ERP core system.
    • Provide direction and leadership in the development of the financial management system, the identification of areas in need of enhancement, and the review of specific enhancement proposals.
    • Ensure responsible accounting for donor gifts, endowments, both restricted and unrestricted grant funds, maintaining compliance with donor intent and institutional policies.
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