LIM College - Vice President of Finance and Controller
Lim, a private, regionally accredited college located in the heart of New York City, invites inquiries, nominations and applications for the position of Vice President of Finance and Controller (VP). LIM is an undergraduate and graduate-level institution specializing in the global business of fashion and its many related industries.
With an enrollment of 1784 students (as of Fall 2018) and a budget of $52 million, LIM has experienced significant enrollment growth over the last 15 years, adding several new academic programs, including master’s degrees and fully online degree programs.
LIM seeks a Vice President of Finance and Controller reporting directly to the Executive Vice President, Finance and Operations, Treasurer, Michael T. Donohue. The EVP has been at LIM for 19 years and this position has become necessary because of the College’s growth and his need for back-up. Reporting directly to the VP are the Accounting Manager, the Senior Director of Student Financial Services and the Director of Business Operations. The VP will be responsible for carrying out the EVP’s duties in his absence and in assigning, directing and appraising all of his/her direct reports.
Under the general direction of the Executive Vice President (EVP), the Vice President is responsible for ensuring the accurate internal and external recording and reporting of financial transactions. The position will direct, coordinate, maintain, and control the College’s accounting system to ensure that it properly reflects the financial position of the College. Working with the Accounting Manager, the VP will be responsible for the College’s audit and will oversee the general ledger, accounts payable and receivable, payroll, fixed asset management, etc. The VP will ensure that accounting activities are in accordance with established legal, regulatory, and College procedures and will serve as a resource in all aspects of accounting. Working with the Director of Business Operations, the VP will develop and monitor the budget and provide analysis and special studies as requested.
This position will be responsible for the successful operation of the Student Financial Services Department which includes the functions of financial aid and bursar. The VP, working with Student Financial Services, will ensure the timely collection of all student payments and will monitor department policies and procedures and recommend improvements to them. This position will consult with his/her colleagues on the Senior Management team; participate in establishing and implementing major goals and objectives for the College and develop the resource requirements of the new strategic plan which is in development.
KEY OPPORTUNITIES AND CHALLENGES
Ensure Timely Collections of Student Account Receivables
The new VP needs to develop and enforce appropriate policies and procedures to ensure timely collection of all student account receivables. The VP must work to improve the systems and processes to accomplish collections in a timely manner.
Provide Exceptional Customer Service to the Campus
The Vice President oversees departments that provide many services to the college community. The new VP must ensure that all areas of supervision are customer-focused in dealings with students, faculty, staff and others.
Provide Leadership to and supervision of staff
The Vice President must have excellent management skills to lead the departments s/he overseas at the College. S/he needs to be attentive to the staff and to provide appropriate development opportunities. The VP needs to have a collegial style and effectively communicate with all members of the staff; s/he needs to be attentive to the welfare of the staff
Thought Partner on the New Strategic Plan
The College is in the process of developing its next strategic plan. The new Vice President needs to be a thought partner with the Executive Vice President of Finance and Operations, Treasurer. and other senior leadership on how to best leverage financial resources and where the best opportunities are for the college. Please review the profile for more information about the College and the position.
A bachelor’s degree in finance, accounting, business management or related field is required and a CPA license is highly desirable. At least ten years of progressively increasing experience in financial management, some of which must be in higher education, as well as experience dealing with financial aid funds (Title IV) are required. Experience in for-profit higher education or other for-profit industries a plus.
The new VP must be a collaborative team player with excellent management and communications skills. The VP should be customer focused and have impeccable integrity. The VP should enjoy working with faculty and students and be interested in the development of his/her staff.
APPLICATIONS, INQUIRIES AND NOMINATIONS
A cover letter and resume should be uploaded here. Nominations and applications are invited for this position. Review of applications will begin immediately, and candidate material received by November 25th will be assured full consideration, although recruitment will continue until an appointment is announced. LIM College is being assisted by Lapovsky Consulting in this search.
EQUAL EMPLOYMENT OPPORTUNITY AND NON-DISCRIMINATION
LIM College is an Equal Opportunity Employer. The College does not discriminate in its employment decisions based on race, color, religion, sex, gender, gender identity or expression, sexual orientation, age, national origin, disability, veteran status, unemployment status, or any other status protected by law.