University of Iowa - Iowa City, IA

posted 4 months ago

Full-time - Senior
Iowa City, IA
Educational Services

About the position

The Director of Finance and Budget Operations is a pivotal role at the University of Iowa, responsible for ensuring the accurate and timely provision of financial information while maintaining cost-effectiveness and efficiency. This position plays a crucial role in the stewardship of the University's financial resources by establishing and enforcing policies and procedures that comply with both internal and external regulations. The Director will provide operational oversight and strategic advice to the Dean and collegiate leadership, acting as a liaison with Central Administration. The College of Pharmacy, which encompasses two academic units offering a Doctor of Pharmacy program and three PhD tracks, also includes a Contract Development and Manufacturing Organization (CDMO) known as University of Iowa Pharmaceuticals (UIP). This business unit generates over $16 million in annual revenue and has been operational for nearly 45 years, focusing on contract pharmaceutical manufacturing and testing within an FDA-regulated environment. The Director of Finance and Budget Operations will have the unique opportunity to manage the financial aspects of this commercial operation while working within an academic framework. In this senior finance role, the Director will exercise independent judgment and discretion, frequently interfacing with college leadership. The position entails supervisory responsibilities over other financial positions within the college. The Director will plan, direct, and control the fiscal and administrative activities of the College of Pharmacy, oversee the preparation of comprehensive salary and operating budgets, and analyze financial information to provide accurate reports. Additionally, the Director will present financial statuses to college leadership and other campus units, ensuring compliance with financial policies and regulations, and will lead the development of strategic partnerships with peer institutions and stakeholders.

Responsibilities

  • Plan, direct, and control the fiscal and administrative activities of the College of Pharmacy.
  • Oversee and coordinate the preparation of comprehensive salary and operating budgets, capital budgets, and forecasts.
  • Analyze financial information and provide accurate financial reports.
  • Present financial statuses to college leadership and other campus units as needed.
  • Direct policy development, financial compliance, and reporting for the college.
  • Oversee financial data from units within the college to evaluate overall performance.
  • Develop situational analyses and compare to benchmarks in the Strategic Plan.
  • Analyze financial risk to the college relevant to proposed changes.
  • Ensure proper application of federal and state regulations in accounting principles and practices.
  • Serve as Org level reviewer/approver for the college's financial workflow.
  • Initiate adjusting journal entries resulting from audit adjustments.
  • Oversee and manage accounting processes.
  • Serve as final reviewer and approver of transactions that impact unit finances.
  • Provide leadership, management, and development of employees.
  • Determine business and financial professional competency of those administering business and financial policy and practice within the unit.
  • Assist with development, implementation, and evaluation of the organization's strategic vision and plan.
  • Develop strategic partnership opportunities and relationships with peer institutions, vendors, and other relevant stakeholders.

Requirements

  • Master's degree in business administration (MBA) or related area or an equivalent combination of related education and experience.
  • Comprehensive (typically 7-10 years) relevant experience including budget and financial planning and analysis.
  • Excellent written, verbal, and interpersonal communication skills.
  • Professional experience fostering or promoting a welcoming and respectful working environment.

Nice-to-haves

  • Relevant experience managing multiple funding sources including state, foundation, research, and revenue generation.
  • Knowledge of University of Iowa accounting principles, internal controls, and information systems.
  • Experience with or familiarity collaborating with manufacturing management to analyze and optimize manufacturing processes.
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