Interim Chief Financial Officer

This role will be remote with occasional travel down to North Carolina. Prior Higher-Education experience is required.

Interim Chief Financial Officer (Higher Education)

Full‑time contract | 6-months (with option to extend) | Reports to President & Board of Trustees

1. Context & Mandate

A private, not‑for‑profit university ($80 M annual operating budget) is looking for an Interim CFO. You will stabilize day‑to‑day financial operations and secure the external capital needed to fund the growth agenda while the institution conducts a permanent leadership search.

2. Primary Responsibilities

Capital Formation & Treasury

Budget Management & Controls

• Lead the design and execution of a financing program that may include tax‑exempt bond issuance, bridge credit facilities, philanthropy‑backed instruments, and Public‑Private Partnerships (P3).

• Prepare rating‑agency presentations; manage investor, bond‑counsel, underwriter, and banking relationships.

• Oversee cash‑flow forecasting and optimize short‑term investments within board‑approved risk parameters.

• Close FY‑2026 budget within target operating margin; implement quarterly re‑forecasting.

• Strengthen cost‑allocation transparency across academic units and auxiliaries.

• Rationalize chart of accounts and accelerate monthly close to ≤ 7 business days.

Strategic Planning

Compliance & Risk

• Partner with Provost and Enrollment SVP to build 5‑year integrated financial & enrollment model (tuition discounting, program P&L, workforce planning).

• Provide decision support for potential M&A or consortium opportunities.

• Ensure compliance with FASB, NACUBO, DOE Title IV, IRS 990 and state AG requirements.

• Refresh enterprise‑risk framework (focus on liquidity, cyber, tax‑exempt status).

Team Development

• Serve as staff liaison to Board Finance & Investment Committees; deliver clear, dashboard‑driven reporting.

• Engage faculty governance bodies to build trust in resource‑allocation changes.

• Mentor Controller and Budget Director; define interim‑period stretch goals.

• Identify and close critical skill gaps in treasury, grants accounting, and data analytics.

3. Key Deliverables (First 180 Days)

1. Capital‑raising blueprint with timeline, debt capacity analysis, and preferred instrument mix.
2. Updated five‑year financial plan vetted by Cabinet and approved by Board.
3. Bond‑market readiness packet (audited statements, offering memorandum draft).
4. Refreshed policies covering reserves, endowment draw, and liquidity triggers.
5. Performance dashboard (net tuition, auxiliary contribution, liquidity days, covenant headroom).

4. Success Metrics / KPIs

• Bond pricing ≤ 40 bps inside initial underwriter indications.
• Operating margin ≥ 3% within first fiscal year; liquidity ≥ 150 days cash on hand.
• Monthly close reduced from 15 days to ≤ 7 days.
• 95% budget owner adoption of new forecasting tool within two cycles.

5. Candidate Profile

• 15+ years progressive finance leadership; 5+ in higher‑ed or mission‑driven sector.

• Led ≥ $50m capital raise (tax‑exempt bonds, P3, or private placements).

• Deep knowledge of GAAP/FASB, NACUBO guidelines, and Title IV regulations.

• Demonstrated success improving operating margin and cash conversion in a tuition‑dependent environment.

• Prior interim/turnaround CFO assignment.

• Experience securing investment‑grade ratings upgrades or inaugural ratings.

• Exposure to academic shared‑governance cultures and unionized staff.

Education & Credentials

• MBA, MAcc, or related master’s required; CPA or CFA strongly preferred.
• Active participation in NACUBO, AGB, or regional higher‑ed finance associations.

Leadership & Competencies

• Credible capital‑markets communicator who can translate financial complexity for non‑finance audiences.
• Change‑management mindset; able to win support in consensus‑driven cultures.
• Data‑savvy: comfortable with predictive analytics, ERP/data‑warehouse upgrades, and dashboarding tools.
• Unquestioned integrity and commitment to the institution’s academic mission.

Travel

Up to 20%