Chief Financial Officer (CFO)

Company: New England College of Optometry
Location: Boston
Posted on: October 18, 2024

Job Description:

Description: The New England College of Optometry (NECO) prepares the next generation of eye care providers, educators, and innovators through a rigorous curriculum and extensive clinical experience. NECO graduates compassionate and skilled optometrists prepared to practice in diverse settings. Located in the heart of Boston, the College is a small, independent graduate institution that has a student body of approximately 530 students from 34 states and 8 countries.
The NECO Center for Eye Care is the patient care and clinical education affiliate of the New England College of Optometry. It is one of the largest providers of optometric services in Massachusetts with nearly 90,000 annual patient visits at more than 43 locations, including many of Greater Boston's community health centers.
The Chief Financial Officer (CFO) at NECO oversees all financial operations, including financial planning and budgeting, management of financial risks, record-keeping, FP&A, and financial reporting. The ideal candidate will have extensive experience in higher education finance, an understanding of healthcare/eye care operations, and a proven track record of financial leadership in complex, multi-facility environments.
The Chief Financial Officer (CFO) reports directly to the Executive Vice President and Chief Operating Officer of the New England College of Optometry. Key responsibilities include Financial Operations, Financial Reporting, Risk Management and Compliance, Strategic Business Partnerships, Team Management, and Collaborative Relationship Management throughout the College. The CFO is responsible for ensuring NECO's financial systems and reporting are accurate, efficient, and in accordance with professional and legal accounting guidelines.
Full-time, Hybrid work option (3 day in the office, 2 days remote) may be available after 6 months.
Annual operating budget -$32M.
Direct Reports: 4 (10 team members overall)
Financial Operations

• Direct accounting activities including general ledger maintenance, analysis of computer-generated data and reports
• Oversee reconciliation of external clinic revenue and expenses, revenue from professional services agreements
• Oversee fixed asset inventory management
• Review contracts and business agreements
• Manage student billing and collections, impact of student withdrawals, leaves, graduation, etc.
• Manage endowment draw and spending policy as it relates to restricted funds, including funds to provide scholarship support to new and continuing students
• Manage PILOT and other requisite payment programsFinancial Reporting
  • Prepare monthly internal financial reporting package, including comparative financial statements, external clinics productivity, optical shops profitability reporting
  • Manage the annual audit process
  • Institutional reporting to external entities, including federal and state regulators (IRS 990 and MA PCs, eZ-Audit, IPEDS, NECHE financial screen, MADHE FARM, etc.)
  • Serve as the liaison with the Finance, Audit & Business Affairs Committee (FABA), scheduling meetings, preparing minutes, etc.Budgeting
    • Manage the development of all budgets (operating and capital) and oversee the annual budget process
    • Manage operational and capital budgets
    • Oversee physical plant budgeting and capital projects
    • Periodic forecasts and variance analysis, including tuition forecasting
    • Team Management
    • Oversee Business Office (including A/p, A/r, Bursar, general ledger accounting), Financial Aid Office (disburses $14.2 million of federal loans and assistance and $1.5 million of institutional loans and assistance annually), Grants and Contracts Accounting and Administration Other
      • Assess/monitor institutional risk and manage insurance agreements
      • Financial Planning and Analysis, including regular and special purpose financial reports
      • Develop and maintain internal audit controls systems
      • Manage public records processes and licensure (as it relates to business operations)
      • Manage leasing contracts (business equipment) and real estate leases
      • Manage and maintain corporate registrations and licensesSkills & Competencies:
        • Proven track record of financial strategy development, cost management, and operational improvement.
        • Strong leadership and team management skills, with the ability to communicate effectively with diverse stakeholders.
        • Financial acumen, strategic thinking, leadership and team management, technological prowess, and effective communication and interpersonal skills are essential
        • Demonstrated analytical and problem-solving skills
        • Ability to work in a hands-on, fast-paced, dynamic environment
        • Supervision and mentoring
        • High level of integrity and ethical standards
        • Strategic thinker with a focus on innovation and continuous improvementCompensation: $175,000 - $185,000 per year
          New England College of Optometry offers a robust benefits program including:
          • 3 plan options for BCBS medical coverage
          • Mental Health and Wellness benefits
          • BCBS Dental
          • Discounted vision services
          • 13 paid holidays and generous paid time off for sick, vacation, and personal days
          • Employer-paid life insurance, and short-term and long-term disability
          • Voluntary Insurance: life, critical illness, hospital indemnity, accident,
          • Voluntary Benefits: employee discounts and pet insurance
          • 9% employer contribution to a 403(b) retirement plan after 1 year of service with no vesting schedule or match requirement
          • Qualified Public Service Loan Forgiveness Employer
            NECO is committed to creating a diverse environment and is proud to be an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetic information, disability, age or veteran status. Requirements:
            • BS or MS in Finance or Accounting, or MBA. CPA, or equivalent advanced degree preferred.
              Minimum of 10 years of progressive financial leadership experience, with at least 5 years in a senior financial management role within higher education or nonprofit healthcare.
            • Experience with financial systems and tools (NECO uses Jenzabar)
            • Experience working with Board of Trustees (presentations, reports, preparing minutes, etc.)
              PM23
              
              
              Compensation details: 175000-185000 Yearly Salary
              
              
              
              PI9d10787fe71f-37248-35541686

Keywords: New England College of Optometry, Salem , Chief Financial Officer (CFO), Accounting, Auditing , Boston, Massachusetts