Chief Financial Officer, Vice President for Finance & Administration

Chief Financial Officer, Vice President for Finance & Administration

Goucher College

Towson, MD   |   February 27, 2020

The Opportunity

Goucher College, a vibrant, independent, co-educational national liberal arts college located near Baltimore, Maryland, seeks a collaborative, innovative, and strategic finance professional to serve as the new Chief Financial Officer and Vice President of Finance & Administration (“CFO”). The new CFO will join the College during an exciting time of transformation as they look for ways to address the needs of Higher Education today by launching innovative new programs, forging creative new partnerships, and modernizing administrative systems and processes throughout the college. Motivated by the Goucher’s recognition as one of the “Most Innovative Colleges” by U.S. News & World Report, this executive will be energized to explore untapped and entrepreneurial opportunities to advance the mission of the institution and to grow its community broadly.

Reporting directly to the College’s president, Kent Devereaux, the CFO will manage a division comprising the finance, human resources, and information technology departments consisting of approximately 40 full-time staff. The CFO serves as a key member of the President’s Cabinet and is Goucher’s chief financial officer responsible for providing strategy, leadership, and direction for the optimization of the College’s finances, administrative processes, human capital, and technology in service of the College’s mission.

About Goucher College

Goucher College is a small, private, residential liberal arts institution in Towson, Maryland, serving approximately 1,400 undergraduate and 800 graduate and post-baccalaureate students from across the United States and around the world. Goucher’s expansive, scenic campus is situated in the Baltimore suburbs approximately one hour by train from both Washington, D.C. and Philadelphia. Goucher’s history of innovation and commitment to social justice, innovation, and global education create a broad platform for a distinctive liberal arts education. A Phi Beta Kappa institution since 1904, Goucher is among the forty “Colleges That Change Lives.” In 2003, Goucher became the first, and remains one of the only, national liberal arts colleges to require every undergraduate to study abroad at least once before graduation.

History

Since it was founded in 1885, Goucher has been firmly committed to excellence in liberal arts and sciences education. Originally named the Woman’s College of Baltimore City, Goucher was founded in 1885 by a group of influential Methodists led by the Rev. John Franklin Goucher, who, with his wife Mary Fisher Goucher, deeded the college the land to begin its original campus in downtown Baltimore. The college was renamed after the Gouchers in 1910 and relocated its campus to its current location in 1954. The college has been coeducational since 1986. In 2010, Goucher observed its 125th anniversary, bringing generations of students past and present together to remember the institution’s history and celebrate its future.

Leadership

On July 1, 2019, Kent Devereaux was announced as Goucher College’s 12th president. He most recently served as president of the New Hampshire Institute of Art (NHIA), a private, non-profit college of arts and design. Prior to serving as NHIA president, President Devereaux served as professor and chair of the Music Department at Cornish College of the Arts in Seattle as well as artistic director for the College’s presenting series, Cornish Presents. A seasoned senior executive with experience in both the non-profit arts and for-profit technology sectors, President Devereaux was previously senior vice president, dean of curriculum at Kaplan University, as well as senior vice president of editorial and product development at Encyclopedia Britannica, where he was instrumental in transforming the venerable educational publisher from a print to online business in the late 1990s.

Finances

In fiscal year 2019, Goucher’s total operating revenues were approximately $70 million and Goucher’s $205 million endowment benefited from strong financial market performance during calendar year 2019 returning 16.2% to the endowment. Current giving and endowment support from prior gifts compose more than 26% of total revenue. The last five years have been a time of tremendous growth on campus. Goucher College has invested over $82 million to improve campus facilities with new residence hall, counseling, career services, and dining facilities to better support our student’s physical and emotional well-being. Over this period, the College’s investment in plant assets has grown 41% to $189 million, representing 46% of the College’s total assets of $412 million as of June 30, 2019. While the College has run a small annual operating deficit in recent years, academic program prioritization implemented in the summer of 2018 and the administrative restructuring implemented in the fall of 2019 will result in an annual operating savings of approximately $5 million. The College was most recently given an A- credit rating from S&P Global in October of 2019.

For more information on Goucher College, please visit http://www.goucher.edu.

Candidate Profile

The CFO will be strategic and results-driven with strong leadership skills and a proven track record of success in similar roles of progressively greater responsibility. The ideal candidate will have a robust administrative and finance background, excellent relationship-building capabilities, and impeccable verbal and written communication skills. The CFO will have good business judgment, an analytical mindset, great capacity for flexibility and adaptability to shifting priorities or needs, and sound, influential decision-making abilities.

Ideal candidates will have at least 10 years of management experience in a finance and administration role at an institution or organization of similar size and budget. Finance executives with corporate or nonprofit experience who are mission-driven and passionate about education will also be considered. They will have both financial and administrative experience, and management oversight ideally over finance, human resources, and technology. A natural change agent, the CFO will have the opportunity to innovate and improve services toward greater integration, optimization, and efficiencies. They will be nimble, strategic, and budget-focused, incorporating internal perspectives while informing decisions based on industry best practices.

The CFO will have the business savvy, financial and administrative expertise and good judgment to establish the necessary trust and credibility, and cultivate and maintain excellent working relationships with administration, staff, faculty, outside consultants and advisors, and colleagues. The CFO will also be expected to earn the respect and confidence of the College’s Board of Trustees.

In addition, ideal candidates will have the following core competencies, personal qualities, and qualifications:

Financial and Administration Expertise

The CFO will have had strategic oversight over finance, administration, and technology with a measurable track record of success in developing and implementing strategies, policies, and processes. This executive will have demonstrated expertise in a range of administrative functions, and have knowledge of industry best practices, standard tools, and metrics including financial modeling, budget development, and budget management. The CFO will partner with the president, Board of Trustees, the senior administration, and the community across Goucher College as the leadership team identifies key needs, opportunities, and strategies.

The CFO will also provide advice and counsel around the planning and implementation of large capital projects, mergers and acquisitions, identification of new potential revenue streams, strategic and campus planning, human resources management and administration, and be flexible in adapting to emerging needs of the College as they develop. The CFO will serve as an expert in these areas for Goucher College’s Board of Trustees and president, providing thoughtful, focused insight on various projects and initiatives in a clear, collaborative manner.

Strategic and Entrepreneurial Leadership

In partnership with the president, the CFO will have the ability to develop and implement clear, action-oriented, innovative strategies aimed towards elevating the administrative functions of Goucher College, including in the areas of finance, human resources, and technology. The CFO will inspire quality performance and enhance morale with the leadership capacity to build, nurture, and retain a strong team of professionals that is focused on excellence, accountability, and efficiency. Critical to success in this role, the CFO will be a natural entrepreneur and be flexible in adjusting as priorities emerge and change; they will be a nimble problem-solver, able to balance multiple tasks efficiently and effectively while balancing a complex array of constituent needs. The CFO will have a high level of business acumen and judgment, with the ability to make practical, realistic, data driven, and timely decisions. This individual will understand, analyze, and interpret complex problems and utilize appropriate approaches to achieve sustainable solutions with the sophistication to be creative in identifying and developing new strategies to ‘get things done.’

Relationship Builder and Collaborator

The CFO will have demonstrated success in developing, managing, cultivating, and leveraging major relationships and partnerships with a proven track record of ‘closing deals.’ The CFO will be a collaborative partner with the president across all administrative functions, developing strong working and interpersonal relationships across all levels of Goucher College. With strong facilitation and negotiation skills, the CFO will possess the ability to communicate effectively with diverse constituencies, including the Board of Trustees, faculty, staff, students, and external stakeholders.

The CFO will effectively share information with appropriate direct reports, keeping the president and others up-to-date on matters related to the overall financial and administrative priorities or needs. By leading collaboratively from relationships and partnerships, the CFO will be able to synthesize divergent views and coalesce all community members around a shared plan.

Passion for the Mission

The CFO will have a passion and commitment for Goucher College’s mission, history, and its work. The CFO will understand how this role contributes to the overall mission, drawing inspiration for the position of CFO from the community. The CFO will prioritize the experience of Goucher College’s students, faculty, staff, and leadership, endeavoring to raise the quality of the academic and personal environment at the College. Driven by the mission, this individual will influence the culture and impact of Goucher College through modeling and adoption of best practices. The CFO will be an inspiring and empathic individual of unquestioned integrity, ethics, and values, treating others with respect.

About Baltimore County

Baltimore County is a great place to live, work and play!

With nationally recognized public schools, 20 colleges in the region to provide a skilled workforce, abundant recreational opportunities and tight-knit communities, Baltimore County has something for everyone.

Located in the geographic center of Maryland, Baltimore County almost entirely surrounds the city of Baltimore, which was split off as an independent city in 1851. The county is the largest jurisdiction in the metropolitan area, with a population of more than 800,000.

Baltimore County and its county seat – Towson – form a diverse business community located centrally along I-95 and the East Coast market. With 612 square miles of land and a deep-water port, Baltimore County has the third largest land area, the third largest population and the second highest number of jobs in Maryland.

The county consistently receives AAA bond ratings from Moody’s Fitch Ratings and Standard & Poor’s. Less than 1% of all jurisdictions in the nation receive the highest rating from all agencies.

And don’t forget, Baltimore County is just a short drive from Baltimore City’s famed Inner Harbor and Washington D.C.

Learn more at Baltimore County Chamber of Commerce, Baltimore County Government, Baltimore County Tourism & Promotion or Visit Baltimore.

Contact

Koya Leadership Partners, the executive search firm that specializes in mission-driven search, has been exclusively retained for this engagement. Michelle Bonoan and Stephen Milbauer are leading this search. To make recommendations or to express your interest in this role please visit this link or email Michelle and Stephen. All nominations, inquiries, and discussions will be considered strictly confidential.

Goucher College is committed to creating a campus environment where everyone is welcome and encourages applications from individuals of diverse or underrepresented communities, as well as applicants with a strong commitment to diversity, equity, and inclusion. 

About Koya Leadership Partners

Koya Leadership Partners, a member of the Diversified Search Group, is a leading executive search and strategic advising firm dedicated to connecting exceptionally talented people with mission-driven clients. Our founding philosophy—The Right Person in the Right Place Can Change the World—guides our work as we partner with nonprofits & NGOs, institutions of higher education, responsible businesses, and social enterprises in local communities and around the world.

For more information about Koya Leadership Partners, visit www.koyapartners.com