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KING’S COLLEGE Wilkes-Barre, Pennsylvania
Vice President for Business Affairs, Chief Financial Officer and Treasurer
Position Specification
July 2019
Prepared by: Lucie Lapovsky Principal Lapovsky Consulting
KING’S COLLEGE - VICE PRESIDENT FOR BUSINESS AFFAIRS, CHIEF FINANCIAL OFFICER AND TREASURER 2
TheOpportunity
King’sCollege,afour-year,private,CatholiccollegeintheHolyCrosstraditionthatisrecognizedbyU.S.News&WorldReportandothersasamongthebestcollegesintheNortheast,announcesanationalsearchforaforward-thinking,results-oriented,andenergeticVicePresidentforBusinessAffairs,ChiefFinancialOfficerandTreasurer.TheCollege,locatedinWilkes-Barre,PA,has2,354undergraduateandgraduatestudents.ReportingdirectlytothePresident,thepositionoverseestheAssistantVicePresident(AVP)andAssistantTreasurer,AVPControllerandChiefRiskOfficer,AVPofFacilitiesandProcurement,ExecutiveDirectorofSecurity,DirectorofContractServices,AVPIITSandDirectorofHumanResources.TheVicePresidentwilljoinatalentedseniorleadershipteamcommittedtoprovidingacademicrigor,financialstability,androbuststudentengagementinamission-centered,supportivecampusenvironment.TheVPalsosupportstheFinanceandAuditCommitteesoftheBoardofDirectors.
AboutKing’sCollegeKing’ssuccessfullyblendsliberalartsandprofessionalprogramsinareassuchasBusiness,Engineering,AlliedHealth,Education,Humanities,Sciences,andSocialSciences.Foundedin1946bytheCongregationofHolyCrossfromtheUniversityofNotreDametoservethesonsofcoalminers,theCollegebecamecoedinearly1970’sandremainstruetoitsmissionofprovidingaccesstohighereducationtothosewhofaceracial,socialandeconomicbarriers.King’sCollegeoffersexcellentacademicandprofessionalprogramsbuiltuponastrongliberalartscoreandtheCatholicintellectualtradition.Recognizingthechallengesfacinghighereducationtoday,theCollegerisestomeetthosechallengesbyensuringitscurriculumandeducationalofferingsevolvetobestservestudentneeds.TheKing’sexperiencegoesbeyondtraditionalclassroomlearningandincorporateshighimpactlearningpracticessuchasexperientiallearning,servicelearning,undergraduateresearch,studyabroad,andfirstyearcapstonecoursesandseminars.
KING’S COLLEGE - VICE PRESIDENT FOR BUSINESS AFFAIRS, CHIEF FINANCIAL OFFICER AND TREASURER 3
TheCollegehasbeenrecognizedinU.S.NewsBestColleges,Barron’s,Forbes,andThePrincetonReviewBestNortheastCollegeswithhighrankingsannually.ProfessionalaccreditationsincludeAssociationtoAdvanceCollegiate
SchoolsofBusiness(AACSB),TheAccreditationReviewCommissiononEducationforPhysicianAssistants,TheCommissiononAccreditationofAthleticTrainingEducation,andNationalCouncilfortheAccreditationofTeacherEducation(NCATE).FurtherrecognitionreceivedincludesThePresident’sHigherEducationServiceHonorRoll,America’sCatholicCollegesofDistinction,TheJohnTempletonFoundationHonorRollforCharacterBuildingColleges,andTheAmericanAssociationofCollegesandUniversitiesdesignationasa“LeadershipInstitution.”Enrollment,TuitionandFinancialAid
TheCollegehasanundergraduateenrollmentof2,140FTESand214graduateFTEs.Graduateenrollmenthasbeenfluctuatingbetween181FTEsand260FTEsbetweenFall2014andFall2018,whileundergraduateenrollmenthasgrownfrom1,886FTEsinFall2014totheFall2018highof2,140.Amongfull-timefreshmen,11%areHispanic,5%AfricanAmerican,3%Asian,4%Internationaland71%whiteinFall2018.MorethanhalfofthestudentscomefromPennsylvania,and48%offull-timeundergraduatestudentsliveintheresidencehalls.Forincomingfirst-yearstudents,thecollegehasarollingadmissionspolicywithnotificationsbeginninginOctoberoftheapplicant’ssenioryear.ThemeanhighschoolGPAofincomingfirst-yearstudentsis3.4,andtheaverageSATis1103(556Reading&Writing+547Math).Submissionofstandardizedtestscoresisoptional.Thecollegeactivelyand
KING’S COLLEGE - VICE PRESIDENT FOR BUSINESS AFFAIRS, CHIEF FINANCIAL OFFICER AND TREASURER 4
aggressivelyseekshighabilitytransferandgraduatepopulations.Fortypercentofthestudentbodyisfirstgenerationcollegeattendance.Thecollegepridesitselfonalowstudenttofacultyratio(15:1),professionalaccreditations,atraditionofservice,andfinancialaidresourcesthatmakeaKing’seducationaffordable.Theaveragefour-yeargraduaterateis57.3%,andtheaverage6-yeargraduationrateis65%.Highplacementsratesforcareersandgraduateschoolarenotedwithinsixmonthsofgraduation.Thefull-timeundergraduatetuitionis$35,668.Ninety-ninepercentoffirst-yearstudentsreceivefinancialassistanceintheformofscholarships,grants,loans,andwork-study.Theinstitutionaltuitiondiscountrateis53percent.
Athletics
King’sCollegesupports27NCAADivisionIIIintercollegiatesportsthatcompeteintheMiddleAtlanticConference(MAC).AthleticfacilitiesareamongthebestintheMAC.The33-acreRobertL.BetzlerAthleticComplexandMcCarthyStadium,whichincludeanewtrackandfieldfacility,andtherecentlyexpandedWilliamS.ScandlonPhysicalEducationCenter,allowstudent-athletestoexcelintheirindividualsports.Student-athletesalsodemonstrateahighlevelofsuccessintheclassroom.In2017-18,282King’sstudent-athleteswerenamedtotheconferenceAll-Academicteam.
StudentLife
TheSheehy-FarmerCampusCenterisahubofstudentlifeandactivities.Thecollegesupports50clubsandorganizations,studentgovernment,studentpublications,on-campusradioandTVstations,thevisual
andperformingarts,clubsports,andcommunityservice.
KING’S COLLEGE - VICE PRESIDENT FOR BUSINESS AFFAIRS, CHIEF FINANCIAL OFFICER AND TREASURER 5
ThePresident
Rev.JohnRyan,C.S.C.,Ph.D.,collegepresidentsince2011,bringshighenergy,enthusiasm,andastrongbusinessacumenandfinancialstabilitytoKing’sCollege.AnativeofWilkes-Barre,andformerdeanoftheMcGowanSchoolofBusinessatKing’s,heprovidesadeepunderstandingofthecollegeaswellastheissuesfacinghighereducationtoday.
FatherRyanreceivedhisbachelor’sdegreeinaccountingfromWilkesCollege,hisMasterofBusinessAdministration(MBA)fromSt.Joseph'sUniversityinPhiladelphia,aMasterofDivinitydegreefrom
theUniversityofToronto,andaDoctorateinBusinessAdministrationfromTempleUniversity.DuringhisstudiesinTorontoandPhiladelphia,hedidparishwork.
FollowinghisgraduationfromWilkes,heservedinavarietyofaccountingandmanagementpositionsfor13yearswithGilbert/CommonwealthAssociates,Inc.,inReading.HewasordainedasapriestintheHolyCrossorderin1990.FatherRyanhaspublishednumerousarticlesandhaspresentedatprofessionalmeetingsontopicsincludingethics,leadership,jobautonomy,andthemoraldimensionsofaCatholiceducation.FatherRyanisamemberoftheBoardofTrusteesandFellowoftheUniversityofNotreDame,theBoardofStonehillCollegeandtheBoardoftheUniversityofPortland.HealsoservesonboardsofseverallocalorganizationsincludingtheEarthConservancy.Heregularlyassiststhelocaldiocesanclergybyparticipatinginweekendliturgiesandotherparishfunctions.
KING’S COLLEGE - VICE PRESIDENT FOR BUSINESS AFFAIRS, CHIEF FINANCIAL OFFICER AND TREASURER 6
TheLocation:Wilkes-Barre,Pennsylvania
LocatedinNortheastPennsylvania,theScrantonWilkes-Barreareahasapopulationofover500,000people.Withreadyaccesstoseveralmajorinterstatehighways,metropolitanareassuchasNewYork
City,PhiladelphiaandWashingtonDCareonlyafewhoursaway.RecreationalareassuchasthePoconoMountainsandtheJerseyShorearealsoashortdrivefromWilkes-Barre.
Theregionisnotedforitsaffordablehousing,shortcommutetime,excellentschools,andqualityhealthcare.TheregionsupportsaAAAprofessionalbaseballteamandanAmericanHockeyLeaguefranchise.TheScrantonWilkes-BarreairportisservicedbyDelta,United,andAmericanairlines.
KING’S COLLEGE - VICE PRESIDENT FOR BUSINESS AFFAIRS, CHIEF FINANCIAL OFFICER AND TREASURER 7
Key Indicators
KEY INDICATORS – 2017-2018 ACTUAL
Investment in Plant, Less Depreciation $ 113,931,064
Plant Replacement Insured Value $ 177,465,893
Endowment & Invested Funds $82,432,732 (FY 6.30.2018)
Budget Total Operating Revenues budgeted for Fiscal 2019: $67,633,436
Tuition Income $45,890,733 (actual 2017-2018)
Student Enrollment 2017 Census:
Full Time Undergraduate = 2025
Full Time Graduate = 74
Part Time Undergraduate = 172
Part Time Graduate = 197
Average SAT/ACT Score 1103 (556 Reading & Writing, 547 Math)
High School Rankings Top 10% = 20%
Top 25% = 23%
Top 50% = 57%
First-Year Retention Rate 74.4%
Graduation Rate [six-year] 65%
Living Alumni 21,686
Number of Regular Faculty
148 Regular Faculty
82 Tenured Faculty
Average Faculty Salaries Professor: $91,492
Associate Professor: $69,891
Assistant Professor: $63,203
KING’S COLLEGE - VICE PRESIDENT FOR BUSINESS AFFAIRS, CHIEF FINANCIAL OFFICER AND TREASURER 8
Student/Teacher Ratio 15:1
Labs/Classrooms average 18 students
Degrees Awarded 2016-2017: 393 undergraduate degrees in 35 different programs; 136 graduate degrees in 5 different graduate programs
Library Volumes
Books, serial backfiles and government documents accessible through the library’s catalog: 182,499
Journal subscriptions (does not include online access): 181
Microforms (units): 13,985
Sound recordings (titles): 474
Videos & DVD materials (titles): 3071
Databases/Titles: 54
Athletics Men’s: Baseball; Basketball; Cross Country; Soccer; Swimming; Tennis; Track and Field; Wrestling; Football; Golf; Ice Hockey; Lacrosse and Volleyball (2019-2020)
Women’s: Basketball; Cross Country; Field Hockey; Golf; Ice Hockey; Lacrosse; Soccer; Softball; Swimming; Tennis; Track and Field; Volleyball
Finances
TheCollegehasanendowmentof$84.5Mofwhich$21.6Mareunrestricted.Ithasexperiencedmanyyearsofoperatingsurpluses.Ithadoperatingrevenuesof$68.7MinFY2018andoperatingexpensesof$62.3Maccordingtotheauditedfinancialstatement.Inadditiontothe$6.5Mincreaseinnetoperatingassets,theCollegehadanincreaseof$9.2Minnon-operatingnetassetsforatotalincreaseof$15.7M.TheCollegeisprojectingasurplusof5%forFY2019and2%forFY2020.
KING’S COLLEGE - VICE PRESIDENT FOR BUSINESS AFFAIRS, CHIEF FINANCIAL OFFICER AND TREASURER 9
ThePosition:VicePresidentforBusinessAffairs,ChiefFinancialOfficerandTreasurer
TheVicePresidentforBusinessAffairs,ChiefFinancialOfficerandTreasurerreportsdirectlytothePresidentoftheCollege.ThispositionservesasthechiefbusinessandfinancialofficeroftheCollegeandsupportsthemissionoftheCollegethrougheffectiveleadership,analysis,andplanningofcollegefinances,businessoperations,informationtechnology,humanresources,auxiliaryenterprisesandfacilityoperations.CurrentlyreportingtotheVicePresidentaretheAVPandAssistantTreasurer,AVPControllerandChiefRiskOfficer,AVPofFacilitiesandProcurement,ExecutiveDirectorofSecurity,DirectorofContractServices,AVPIITSandDirectorofHumanResources.
Whilethesuccessfulcandidate,workingcloselywiththePresidentandtheBoardofTrustees,willtoagreatextenthavetheopportunitytodefinetheposition,heorshewillhavespecificresponsibilityforadministrationandfinanceandwillmonitorandappraisetheCollege’sfinancialhealth,issuingtimelyreportsonfinancialstability,liquidityandgrowth.WiththePresident,andinconjunctionwiththeseniorstaff,theVicePresidentwilldevelopannualbalancedbudgetsthatareinextricablytiedtoplanning.
QualificationsThesuccessfulcandidatewilldemonstrateunquestionedintegrity,beanoutstandingcommunicator,andpossessstrongandeffectiveinterpersonalskillsthatengendertrustandcultivatecollaboration.S/hewillbeanexceptionalfinancialandadministrativeleaderwithsuperioranalyticalandmanagementskillsaswellasexperienceintheuseoffinancialmanagementsystemsandawillingnesstoexplorenewopportunitiesforusingtechnology.Thesuccessfulcandidatewillhaveasenseofhumor,beentrepreneurialinspirit,willingtothinkoutsidetheboxandtakeprudentrisks.ThenewvicepresidentwillhaveanappreciationfortheCollege’sclosetiestoitsregioncoupledwithexperiencecreatingpartnershipswithbusinessand/ornonprofitorganizations.S/hewillunderstandthehighereducationlandscapeandthechallengesthathighereducationiscurrentlyfacing.Thesuccessfulcandidatewillhavethefortitudetomakedifficultchoiceswhennecessaryandtheabilitytoconveydecisionswithclarity.Thenewvicepresidentwillbewellversedinhighereducationfinanceandwillbeknowledgeableaboutthecriticalareasintheportfolio.S/hewillhaveatleasttenyearsofprogressivelyincreasingexperienceinthefinanceareamanagingalargestaffwithdiverse
KING’S COLLEGE - VICE PRESIDENT FOR BUSINESS AFFAIRS, CHIEF FINANCIAL OFFICER AND TREASURER 10
responsibilities.HigherEducationexperienceishighlydesirableaswellasexperienceinbusiness,non-profitsand/orothersectors.Abachelor’sdegreeisrequiredandaCPA,MBAorotheradvanceddegreeispreferred.Theidealcandidatewillbeanindividualwiththehighestethical,moral,andprofessionalstandards,whosecareerdemonstrates:
• Knowledgeofthecultureoftheliberalartscollegeandawillingnesstobecomea
partofthatcultureasithasbeenadoptedbyKing’sCollege;
• Successful experience working with boards of not-for-profit organizations,auditorsandvariouslocalandfederalregulatoryofficials;
• Skill with information technology as an administrative tool and comfortable
familiaritywithtechnologythatsupportsteachingandlearning;
• Abilitytothinkcreatively,analyticallyandstrategically;
• Highlyeffectivecommunicationandpresentationskills;
• Effectivehands-onexperienceinbudgetdevelopmentandcontrol;
• Successfulexperienceinpropertyacquisitionandmanagement;• Abilitytounderstandandnegotiatecomplexfinancialtransactions;• Experienceincontractnegotiationsandstrategicplanninginitiatives;
• Stronganalyticandsystemsorientation;
• Familiarity with and respect for the liberal arts and sciences and the
teaching/learningenvironmentofacollegecampus;
• Abilitytoachievegoalsusinginfluenceandnegotiationskills;
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• Collaborative management and working style characterized by cordiality and
effectiveinterpersonalskills;• Anunderstandingofenrollmentmanagementprinciples;• Anunderstandingofbudgets,staffsupervision,evaluationandstrategic
planning.• Ability to engage with campus and community leadership to advance college
missionandvision;• Aleaderwhoworksbestinachallengingandcomplexenvironment;• Arhetoricallysavvycommunicator,adeptatconnectingwithdiverseaudiences.
ForadditionalinformationabouttheCollege,pleasegotohttps://www.kings.edu/.
ChallengesandOpportunities
King’sCollegepresentsseveralexcitingopportunitiesandchallengesforthenextvicepresidentofbusinessaffairs,chieffinancialofficerandtreasurer.ThenewvicepresidentwillfindaCollegethatisonsolidfinancialfootingbutonethatisawareoftheneedforcontinuedimprovementsandnewstrategiestomaintainandenhanceitscompetitiveposition.ContinuetomaintainahealthyfinancialequilibriumTheCollegehasoperatedwithpositivebottomlinesforthelastseveralyearsandtheFY2020budgetincludesa2%surplus.Itisexpectedthatthenewvicepresidentwillinsurecontinuedpositivefinancialresultsandwillpartnercloselywiththevicepresidentforenrollmentmanagementandthevicepresidentforinstitutionaladvancement.BeakeyparticipantintheCollege’sstrategicplanningprocessanddevelopthefinancialplantoaccompanythestrategicplanTheCollegeplanstobeginanewstrategicplanningprocessandthenewvicepresidentwillbeakeyparticipantintheprocess.S/hewillbeexpectedtodevelopthefinancialplantosupportthestrategicplanaswellasafacilityandtechnologyplan.Thisplanshouldserveasthebasisforannualbudgetdevelopment.
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RefinetheoperatingbudgetprocessandincreasetransparencyTheCollegeneedstoincreaseclarityabouthowprioritiesaredecidedandhowoutcomesareassessed.Asystemfordeterminingandmeasuringthereturnonvariousalternativeinvestmentsneedstobeincorporatedintotheprocessanddefinedinawaythatisclearandtransparenttoallinvolved.ThenewvicepresidentneedstoworkeffectivelywiththecabinetandwiththeInstitutionalPlanningandResourceCommitteeindevelopmentandmonitoringofthebudget.ContinuetheCollege’srenovationofkeydowntownbuildingsTheCollegeisintheplanningstagesofrenovatingtheTimesLeaderbuildingandotherfacilities.Thesewillbemajorprojectsthatwillneedtobeaccomplishedcollaborativelywiththecollegecommunityanddoneinanefficient,timelyandcosteffectivemannerusingcreativefinancingstrategies.NominationandApplicationProcessNominationsandapplicationsareinvitedforthisposition.Reviewofapplicationswillbeginimmediately.CandidatematerialreceivedbySeptember24willbeassuredfullconsiderationalthoughrecruitmentwillcontinueuntilanappointmentisannounced.Applications(includingacoverletter,resume,andthenamesandcontactinformationoffourreferences)mustbeuploadedto:http://lapovsky.hiringthing.com.LapovskyConsultingisassistingKing’sCollegeinthissearch.Fornominations,questions,oradditionalinformation,pleasecontact:[email protected]
King’sCollegeisanequalopportunityemployer.
