Reporting to the Head of School, the Chief Financial Officer (CFO) has managerial responsibility for the general financial operations of the School in a manner that complies with all applicable laws and regulations and that represents a high degree of efficiency, effectiveness, ethics and integrity. This position oversees and manages the following departments and responsibilities: business office, financial investments (including endowment and operating funds), operations and facilities management, overall plant and physical campus, food services management, summer and auxiliary programs, risk management, and contract review. The person in this role is responsible for safeguarding the assets of the School, ensuring all financial and operations functions meet the needs of the School and its constituencies, and that all School operations comply with regulatory requirements. As a senior leader, the CFO is an experienced professional who promotes the educational mission and values of the School.
Directs and performs duties and tasks associated with all aspects of finance, including: financial accounting and controls; budgeting; analysis and reporting; insurance; payroll, and retirement plan; negotiation and financial management of contracts; risk management; and general administration.
Oversees and monitors all School financial investments, including endowment funds and invested operating funds; serve as the primary liaison for the School’s banking relationships and asset managers.
Collaborates with the Head of School and division administrators to ensure that programs remain on budget and are scaled to financial means.
Serves as the financial and administrative advisor to the Head of School and provides appropriate access to the School’s financial information to the Board of Trustees through the Head of School and the Chair of the Finance Committee.
Strategic planning and management of School assets and projects; prepares financial analyses to support planning for and implementation of long-term goals set forth by the Administration and the Board.
Serves as a non-voting member of four committees of the Board of Trustees (finance, investment, audit, buildings and grounds); works closely with these groups on items including fiscal management, financial analysis, short- and long-term projections, major expenditures, and financial planning; prepares written materials for these committees, provide, board updates, and other school materials as needed.
Leads the employee retirement plan committees to meet fiduciary obligations in administration of the School’s retirement plan.
Serves as a joint leader, with the Director of Human Resources, on the employee benefits plan committee.
Prepares regular financial forecasts to project fiscal year operating results.
Holds primary responsibility for the outcome of annual financial statement and retirement plan audits.
Serves as primary liaison for the School’s banking relationships and asset managers.
Responsibilities for Business Operations
Maintains effective financial policies, procedures, and operations in accordance with generally accepted accounting principles.
Maintains current, accurate financial records of operations and financial position of the School
Provides all financial information necessary for current operations, assessments, and future planning. Analyzes the costs of all School departments.
Develops, implements, and manages annual operating and capital budgets; identifies areas for cost savings, increased productivity and efficiency, and reduced waste and financial risk
Manages cash effectively; maintains an internal control structure.
Supervises personnel who manage accounts payable, tuition receivables, banking, payroll, retirement plan, student store, food services, transportation, and facilities.
Provides guidance to and collaborates with the Director of Human Resources to manage and establish appropriate benefits programs and recommends changes to enhance benefits and/or reduce costs.
Oversees all aspects of the management of payroll services.
Consults with the Head of School and Director of Human Resources to determine compensation administration.
Serves on other Board committees as directed by the Head of School.
Negotiates School health benefit programs, outsourced facilities and food management contracts, long-term equipment rentals, utility provider contracts, facility rental contracts, and construction agreements.
Responsibilities for Campus Safety, Plant Management, Food Services and Transportation
Leads campus safety and risk management efforts.
Oversight of plant management through supervision of the Director of Operations (in conjunction with Head of School) and Director of Food Service.
Oversees all construction, repair, improvement, and building projects, including contract negotiation, work of architects, contractors, and planners in conjunction with the buildings and grounds committee of the Board of Trustees.
Develops the capital budget in coordination with the Head of School and the B&G Committee of the Board.
Oversees transportation operations, equipment, and budgets.
Supports the Director of Summer Programs and Community Outreach with rentals, summer campus, summer programs, budgets, etc.
Serves on the School’s administrative committee, leadership team, facilities committee, and any other committees as determined by the Head of School.
Fosters professional standards and development by participating in local and national organizations such as, NBOA, NJAIS, NAIS; maintains business relationships with consultants, legal counsel, vendors, and colleagues at other schools.
Bachelor’s degree from an accredited college or university; master’s degree preferred
Ten+ years of managerial, problem-solving, and planning capability with proven results
Significant experience in responsibly managing financial, administrative, and day-to-day business operations
Passion for continuous process improvement
Ability to interpret and explain complex issues and their financial/operations implications
Strong, hands-on experience in financial management including analysis and reporting, budgeting, asset management, audit compliance, federal and state tax regulations, and reporting procedures
Ability to strategize and develop mechanisms to manage expenses
Excellent interpersonal, written, and oral communication skills with a demonstrated ability to communicate effectively and relate well to colleagues, parents, and others
Must be highly analytical, able to multitask, and able to prioritize and complete projects in a timely manner
Must be highly organized and detail-oriented
Must be able to work under pressure and be flexible and creative
Collaborative leadership style: must be a team player, with a positive attitude, exemplifying The Pennington School’s core values and alignment with School’s Mission is essential.
This position requires a hands-on financial professional who is prepared to grapple with and resolve issues in real time as needed.
CPA and/or MBA preferred
Executive managerial experience in the nonprofit sector
Prior experience as Chief Financial Officer or equivalent
An understanding and knowledge of environmentally-friendly business practices (a proven track record of this is a plus)
IT Network/Data Security knowledge
Knowledge of Veracross software
This position is a full-time, 12-month, exempt position working daily, Monday through Friday. The employee must be available for overtime and travel as needed for School events and projects.
We offer a supportive environment with a full benefits package (medical, dental, vision, life insurance, a generous match on our 403(b) retirement plan, long-term disability, flexible spending account, HSA and HRA accounts, access to gym facilities and indoor pool, and free lunch).
Founded in 1838, The Pennington School is an independent, coeducational school of 525 students in grades 6 through 12 (100 in Middle School), representing over 43 countries on a 55-acre campus in Pennington, NJ. Boarding students make up 23% of total enrollments and the School has an impressive 6:1 student to teacher ratio. Pennington has just over 5,000 alumni of record.