Vice President for Finance and Administration (CFO/CAO)
Bryn Mawr College, located just outside of Philadelphia, is a flourishing, diverse, student-centered, nationally-ranked, liberal arts college dedicated to the highest academic standards. The College is conducting a national search for its next Vice President for Finance and Administration/(CFO/CAO) referred to hereafter as VPFA. Reporting to the President, this position is responsible for the financial, capital and human resources of the College. The VPFA is a key member of the President’s leadership team and supports the finance and audit committees of the Board of Trustees.
The VPFA plays a critical role in developing, communicating, and implementing the fiscal management and operational strategies that will move the College forward. The position serves as a vital partner to the President, Provost, Board of Trustees, and other College leaders as they determine and advance institutional imperatives; strategically align resources to College priorities; and devise long-term planning strategies to ensure financial sustainability as the College adapts to an ever-changing world and marketplace. The VPFA will identify and leverage new revenue-generating opportunities, strategically assess risk, and oversee the modernization of the College’s financial and administrative processes to ensure maximum efficiency and effectiveness while supporting the College’s culture and mission.
The College seeks a financial and administrative leader who is student-centered, committed to Bryn Mawr’s mission and understands the value of higher education. The new VPFA, in addition to being an outstanding financial expert and administrator, should be forward thinking, entrepreneurial, transparent, collaborative, collegial, a good listener, experienced in change management, and an excellent communicator. The new VPFA must balance both the short-term and long-term financial priorities of the College, and be skilled at making strategic investment recommendations, linked with appropriate risks, to best position the College in fulfilling its mission and as a leader in higher education.
The College
Today, Bryn Mawr enrolls 1,740 students, including 1,403 full-time undergraduates and 333 students in the two graduate schools. In fall 2023, Bryn Mawr had 3,271 applicants; it admitted 31% and enrolled 361 or 35% of admitted applicants. The College has been increasing financial aid to students with need. In fall, 2024, it extended its no-loan program to students who come from families with incomes under $110,000.
Bryn Mawr boasts a strong financial foundation and positive operating results for many years. This financial performance has enabled significant investment in facilities and annual reinvestment to maintain the iconic campus. Bryn Mawr’s financial strength is reflected in a strong balance sheet: as of May 31, 2023, the College had cash and investments of over $1.3 billion, $1.1 billion of which represents the College’s endowment. The College also in-housed its investment management function in 2020 and has an in-house staff that stewards the capital. The annual operating budget is approximately $130 million. The College has $115M in long-term debt most of it at fixed rates ranging from 3.0% to 5% maturing between 2029 and 2049.
Bryn Mawr’s campus of pioneering American Collegiate Gothic architecture and natural beauty, widely considered one of the most beautiful in the country, sits on 135 acres. The College has 46 buildings and 1.3M gross square feet of space. Many of the buildings are over 100 years old and have historical designations. While the last 10 years have seen robust improvement to the campus, the College has simultaneously maintained and accelerated its commitment to sustainability. As of 2022, the college achieved a 55% net reduction in measurable emissions from carbon sources since 2008, and is well on its way to achieving carbon neutrality by 2035. For more information about the College, please look at the profile.
THE ROLE
The VPFA manages a division with five departments: Controller; Human Resources; Facilities Services, which includes campus sustainability; Administrative Services; and Budget. Administrative Services includes conferences and events, dining services, environmental health and safety, transportation, the book shop, day care and the post office.
CHALLENGES AND OPPORTUNITIES
Strategically Deploy the College’s Resources
Complete Implementation of the College’s Workday System
Maintain Efficient, Cost-Effective Operation of the College
Establish Trust and Communicate Effectively with the Campus
Assess New Opportunities and Develop New Sources of Revenue
Advance the College’s Human Resource Function
Advance the Cooperative Relationships with Haverford, Swarthmore, the University of Pennsylvania, and the Other Area Schools
Develop a Strong, Collaborative Team
THE IDEAL CANDIDATE
The ideal candidate will have a positive attitude, demonstrate unquestioned integrity, be an outstanding communicator and strategic thinker, and possess strong and effective interpersonal skills that engender trust and cultivate collaboration. They will be respectful of others and value diversity and inclusion.
The new VPFA will be an exceptional financial and administrative leader with superior analytical and management skills and a willingness to explore new and creative opportunities for ensuring the College’s future. They will respect the mission of liberal arts colleges and will relate to Bryn Mawr’s mission.
The ideal candidate needs to be able to dream with the President and help her implement her vision. They will be entrepreneurial in spirit and be willing to think outside the box and take prudent risks. They will have experience with change management. The new VPFA will be a skilled negotiator, possess a keen understanding of the higher education landscape and the challenges that higher education is currently facing, and provide innovative ideas for approaching the future.
The new VPFA will be able to understand and negotiate complex financial transactions and be able to achieve goals using influence and persuasion. The ideal candidate will have the fortitude to make difficult choices when necessary and the ability to convey decisions with clarity and to hold people accountable. They will understand enrollment management, including the complexities involved with setting tuition and financial aid policies; the challenges involved with fundraising; and appropriately and strategically using restricted funds and endowments. They will have experience with system implementations and Workday experience will be a plus.
The new VPFA must understand and value members of the community, be fun to work with and have a good sense of humor.
Qualifications
The new VPFA will be knowledgeable about the critical areas in the portfolio and will have experience working with Boards of Trustees. They will have at least ten years of progressively increasing experience in finance and administration, managing a large staff with diverse responsibilities. Higher Education experience is highly desirable as well as experience in business, non-profits and/or other sectors. A bachelor’s degree is required, and an MBA or other advanced degree is preferred.
NOMINATION AND APPLICATION PROCESS
Nominations and applications are invited for this position. Review of applications will begin immediately, and candidate material received by November 3, 2024 will be assured full consideration although recruitment will continue until an appointment is announced. Applications (including a cover letter and resume) must be uploaded to: http://lapovsky.hiringthing.com. Lapovsky Consulting is assisting Bryn Mawr College in this search. For nominations, questions, or additional information, please contact:
Lucie Lapovsky
917-690-1958
Bryn Mawr College is an equal opportunity employer. Applications are considered without regard to race, color, religion, national origin, gender, disability and veteran status.