Vice President for Finance and Management

Vice President for Finance and Management
Denison University has long been recognized as one of the nation’s leading liberal arts
institutions. Founded in 1831, Denison is a selective four-year independent and fully
residential undergraduate college located in the Village of Granville, Ohio, just 27 miles
east of Columbus. The College enrolls 2,150 talented students from across the country and
around the world and offers 44 courses of study in the divisions of Science, Humanities,
Social Science, and Fine Arts. Through an intentional learning process that spans
academic, residential, and experiential spheres, Denison prepares students with the
knowledge, ability, vision, and resolve to become thought and action leaders in all walks
of life.
The men and women who currently learn and grow at Denison make up the most diverse
and highest achieving student body in the school’s history. They come for a
transformative education that demands self-reflection, spirited debate, and active
engagement. Denison’s 226 faculty members are committed to undergraduate education.
As teacher-scholar-advisors, their principal responsibility is effective teaching informed
by the best scholarship. Faculty members place a priority on working closely with
students, interactive learning, and partnerships with students in original research.
Denison’s 10:1 student faculty ratio, and average class size of 19 students, allows for close
supervision of independent research and collaborative work in small groups and classes.
A Denison education goes well beyond the classroom, encompassing a rich residential
student experience focused on a concern for the whole person. It provides a livinglearning environment sensitive to individual needs yet grounded in commitment to
community, in which the principles of human dignity and ethical integrity are
paramount. Through 170 campus organizations, 23 Division III sports teams, and 600
student leadership positions, students engage in a wide range of activities that address
the multidimensional character of their intellectual and personal journey. The power of
Denison’s model was affirmed in the most recent National Survey of Student Engagement
(NSSE), which found that a Denison education powerfully connects students’ scholarship
to their experiences and preparation for life after graduation. Not surprisingly, Denison
graduates go to work across myriad professional fields with some of the best-known
companies and organizations in the country, and attend many of the nation’s top
graduate and professional schools.
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Denison is poised to carry this legacy of excellence forward under the dynamic leadership
of Adam Weinberg, now in his second year as President. A sociologist who gained
national prominence for his work to increase the level of civic engagement at colleges and
universities, President Weinberg brings to Denison a breadth of experience with the
liberal arts and global education. The new Vice President will have the opportunity to
partner with President Weinberg to chart Denison’s future course.
Denison’s rich academic and co-curricular programs are made possible by a long history
of astute financial management. With an endowment approaching $800 million and an
annual operating budget of $107 million, Denison has not only maintained strong
academic and co-curricular programs and a state of the art campus, but has also become a
national leader in providing access to a diverse student body. For example, 20% of
Denison students are the first of their family to attend college; 36% of the class of 2018 is
multicultural; and Denison attract students from all 50 states and 37 foreign countries.
Denison’s generous financial aid policies have recently earned it a ranking of twenty-third
nationally among Kiplinger’s 100 Best Values in Private Colleges.
Denison’s diverse students and dedicated faculty come together on a unique and historic
campus. In 1916, Denison redesigned and expanded its campus under a master plan
created by the landscape architecture firm of Frederick Law Olmsted, known for its
design of New York City’s Central Park. This plan resulted in an inviting, pedestrianfriendly campus with sweeping hilltop vistas. Today, the campus encompasses 900 acres
and includes a biological reserve used by professors and students alike to study sciences
like geology and biology. It is a well-maintained campus, with a number of buildings
constructed or improved over the past 10-15 years. These include facilities for sciences,
athletics, and student living. Denison has little deferred maintenance because of careful
financial planning.
Students, faculty, and staff enjoy easy access to the picturesque and historic town center
of Granville, which features numerous restaurants, cafes, and shops, as well as a Saturday
farmers market during the summer and fall. The town has managed to preserve its
historical roots, with over 100 buildings listed on the National Register of Historic Places.
Moreover, through consistent engagement with the community, Denison’s
administration, students, and staff have built an excellent relationship with Granville.
Granville is a convenient 30-40 minute drive from Columbus, the state capital and the
largest city in Ohio. Columbus is home to over 30 colleges and universities, including
Ohio State University, numerous cultural attractions, and Port Columbus Airport.
POSITION DESCRIPTION
The Vice President of Finance and Management is a key partner with the President and
Trustees on strategic planning, and oversees all of the College’s administrative and
facilities services. Reporting to the President, this person is Denison’s chief financial
planning and budget officer. S/he has oversight of Denison’s $1.2 billion in net assets, and
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works with faculty, staff, and the Board of Trustees to ensure effective stewardship of
College resources. The Vice President plays the leading role in maintaining a sustainable
financial model that ensures Denison’s future as a nationally renowned liberal arts
college.
The Vice President assists the President in formulating budgets, fiscal policies, and plans
for all academic and administrative departments within the College. S/he establishes
budgetary procedures, and reports on budgetary matters to the President, the Board of
Trustees, and the Denison community. In addition, the Vice President directs and
conducts research and provides input related to a wide range of institutional functions
and priorities such as enrollment, financial aid, financing, and facility planning and
construction. S/he informs all College constituencies about important projects and
programs. This work requires consistent oversight of administrative systems supporting
the finance and management areas.
The work of the Vice President is conducted collaboratively with his/her six direct
reports, an experienced and dedicated team that has earned a high degree of credibility
with all campus constituencies. They are the Director of Administrative Services;
Controller; Director of Facilities Services; Director of Financial Aid; Director of Human
Resources; and Title IX Coordinator, Director of Risk Management & Environmental
Health. In addition, the Vice President works closely with Denison’s Chief Investment
Officer on matters related to the College’s investments and endowment.
A more detailed listing of the responsibilities of the staff that directly report to this
position follows.
Administrative Services: the Director of Administrative Services oversees a system of
centralized purchasing, receipt, storage, delivery of supplies and materials, equipment
inventory, and surplus property purchases and sales for the College. Services under the
Director’s purview include office services, mail services, the bookstore, rental properties,
motor pool, and dining services. S/he also manages other various matters such as
copyrights, patents, trademarks and excise tax arrangements.
Controller: The Controller plays the lead coordination role in the development of the
annual operating budget. S/he develops and maintains accounting systems and financial
information for all revenue and expenditures of the College to include outside grants.
The Controller prepares the institutional financial statements which are integral to the
annual financial audit. In addition, s/he oversees the Accounting Office and the Student
Accounts Office. The Accounting Office handles payment of all the College’s expenses,
travel expense reimbursements, journal entries and budget transfers, and monthly budget
and expense statements. Student Accounts is responsible for student and non-student
statements of account and billings, cash receipts and payments, Denison Dollars deposits,
student health plan information, student vehicle registration, and Denison Scholar loans
and Perkins loans.
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Facilities Services: The Director of Facilities Services ensures both the long-term and
day to day care of campus facilities, utilities and grounds and is responsible for setups for
all special events. S/he oversees a staff of approximately 100 organized into eight
divisions, and works with Vice President, Director of Administrative Services, and Provost
to coordinate construction and renovation projects on campus.
Financial Aid: The Director of Financial Aid is responsible for developing individual
student awards based on merit and/or need, and assigns endowed scholarships according
to donor specifications. S/he works with the financial aid staff to determine eligibility,
and maintains current knowledge of and compliance with federal and state regulations.
In addition, the Director works closely with the Admission Office, the Vice President, and
the President on matters relating to financial aid policy. Student Employment is also a
function of the Office of Financial Aid.
Human Resources: The Director of Human Resources provides comprehensive
programs for staff and faculty in accordance with policies and practices approved by the
Board of Trustees, including employment activities, wage and salary administration,
benefit administration, personnel record keeping, and employee communications and
relations. S/he oversees the human resources information system as well as payroll for
faculty, staff, and students.
Title IX, Risk Management, and Environmental Health and Safety: The Title IX
Coordinator, Director of Compliance, Risk and Environmental Health and Safety
coordinates and leads the institutional effort to manage enterprise wide risk. S/he
provides oversight to all compliance requirements and manages insurance programs of
the College for the protection of all physical assets and general liability, making certain
that a comprehensive program of coverage is provided at acceptable cost. S/he also assists
on all matters related to the health and safety of the campus community and coordinates
Denison’s Title IX program.
OPPORTUNITIES AND CHALLENGES FOR THE NEXT VICE PRESIDENT FOR
FINANCE AND MANAGEMENT
As noted above, the next Vice President at Denison will oversee a financially strong
institution with the help of an experienced and well-respected leadership team.
Moreover, the next Vice President will have the opportunity to work closely with
President Weinberg, the Board of Trustees, faculty, and staff to shape the Denison’s
future course. This will include the launch of a capital campaign that will likely be the
result of strategic planning work currently under way. In this context, specific priorities
for the Vice President include the following:
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Sustaining Denison’s long-term financial health while maintaining key priorities.
As already noted, Denison has become a national leader in providing outstanding liberal
arts education to students across the spectrum of economic need. However, as families
find it increasingly challenging to pay for private higher education, Denison will
continually need to evaluate its approach to financial aid, as well as other budget
priorities. These include sources of revenue, facilities, and breadth of program offerings.
Leading a complex organization and leveraging existing staff expertise for best
results. The next Vice President inherits a high functioning organization of dedicated
and well-respected staff. S/he will need to understand each of the discrete areas under
his/her management, and orchestrate collaboration across departments to address a
number of key functions, including facilities, student services, budget development, and
financial aid strategy (in coordination with the development of an enrollment strategy).
Managing an increasingly complex legal and regulatory environment. With
increased state and federal regulations, colleges and universities are required to dedicate
more staff time and other resources to compliance. The next Vice President will need to
collaborate with his/her staff to determine the best methods for compliance and
reporting in a number of areas, including Title IX and federal student aid.
Managing new assets and capital projects. The Vice President plays the lead
coordinating role in establishing facility renewal and equipment priorities resulting in
annual capital investments between $7 and $10 million. In addition, Denison will likely
develop a new performing arts center in the very near future to replace aging facilities;
this is a major project that will be an important priority for the next Vice President.
Moreover, through a recent gift, Denison now owns a golf course. The College also owns
the Granville Inn, which is currently undergoing a significant renovation, and is
scheduled to reopen in the spring of 2015. Under the supervision of the Vice President,
both of these assets will be managed by outside contractors.
Maintaining and Renewing the Debt Structure. Denison operates with a modest
amount of debt, all fixed rate, as part of its long term capital structure. The approach has
been to keep debt between $135 and $160 million, paying down principal at a rate of $7 $8 million per year and then reissuing $20 to $25 million in new debt every third year for
facility renewal projects. The operating budget has included a capital component
adequate to meet the annual debt service requirements. The Board’s Debt Policy
prioritizes a commitment to maintaining Denison’s very strong debt rating. The Vice
President works with underwriters, legal counsel, rating agencies, and State issuing
authorities to achieve favorable debt structures and rates while also ensuring legal
compliance.
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DESIRED QUALIFICATIONS & CHARACTERISTICS
Denison seeks a Vice President with a track record of successful and senior leadership
roles in financial and administrative management. Candidates should have an
appreciation for liberal arts education and an ability to work within a transparent and
collaborative culture.
The ideal candidate will possess the following additional characteristics:

Outstanding financial and administrative management skills, including budgeting,
accounting, and financial planning;

Extensive strategic planning experience, and the ability to think analytically and
look broadly for new ideas and best practices;

An open, collaborative style of leadership that fosters teamwork, sustains a
learning environment for staff, and develops a first-class organization;

Proven experience in managing personnel across a complex organization;

An ability to encourage innovation;

Exceptional interpersonal, communication, and presentation skills, including the
ability to frame complex financial issues in straightforward and understandable
terms for a range of audiences;

An appreciation for the culture of Denison, including an ability to work effectively
within a community that values connection and consensus;

A willingness to be an active member of the College community, including
attendance at campus events during and after regular business hours.

A capacity to inspire trust, and the ability to engage respectfully with all of
Denison’s constituencies;

Strong organizational and time management skills with the ability to delegate
effectively;

A commitment to and respect for diversity; and

Unquestioned integrity, flexibility, and high energy.
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ADDITIONAL INFORMATION
Denison University will provide a competitive salary and benefits package. The preferred
starting date is no later than July 2015.
The search process is currently underway and will continue until the position is filled.
For best consideration, please send nominations, inquiries and expressions of interest in
confidence by January 7, 2015 to:
Shelly Weiss Storbeck, Managing Partner
Andrew Simmons, Consulting Associate
Storbeck / Pimentel & Associates, LP
[email protected]
Denison University is an Affirmative Action Equal Opportunity Employer. To achieve our
mission as a liberal arts college, we continually strive to foster a diverse campus
community, which recognizes the value of all persons regardless of religion, race, ethnicity,
gender, sexual orientation, disability, or socioeconomic background.
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