Full-time administrative member overseeing the financial stability of the school.
The Vice President for Finance reports directly to the President and works closely with school’s leadership team.
OVERVIEW OF THE SCHOOL:
Loyola School is a Jesuit, Catholic, independent, coeducational, college preparatory secondary school located in New York City, with a student enrollment of approximately 220 young men and women. Founded in 1900 with the unique combination of the strengths of both the Jesuit and American Independent School traditions, Loyola is the only Jesuit, independent and coeducational high school in the New York City / Tri-State area. Loyola School students strive to become young men and women who are open to growth, academically excellent, religious, loving, and committed to doing justice. Loyola School is committed to challenging its students religiously, intellectually, physically, and socially.
A 24-member Board of Trustees is the School's governing body. The endowment is valued at approximately $25 million. In 2021-22, operating expenses total $9.6 million, and Annual Giving was $1.6 million. During the 2021-2022 academic year, Loyola provided over $2.5 million in aid to more than 70 families. The average award totaling more than $26,000 based on a tuition of $43,890.
OVERVIEW OF RESPONSIBILITIES:
The Vice President for Finance of Loyola School, a key executive officer reporting to the President of the School, is responsible for the business, financial, investment, human resources, and operational functions of the school. The VP for Finance provides primary support to the Trustees’ Committees for Finance, Audit, Facilities and Investment. The position requires active leadership, interaction and teamwork with the School’s President, faculty, staff, parents, and the Board of Trustees. The VP for Finance works closely with the President and the Investment Committee in monitoring and reporting the investment of the School’s endowment funds.
The successful candidate should be a strategic and critical business thinker, have an understanding of, and commitment to, the central mission of a secondary school which is both Jesuit and independent; a record of successful managerial leadership; experience in a broad range of complex financial matters; experience in project development and management; and a proven ability to communicate with all constituencies inside and outside of the School.
The new VP for Finance joins a school in good health following multiple years of building improvements, investments in competitive compensation and significant endowment growth. It is noteworthy that the school has just commenced a building project that will add 10,000 square feet to the overall plant.
Strategy, Planning, and Leadership
Engage as a strategic partner to the President of the School and senior leadership team.
Communicate and interact with Board of Trustees to understand and advise on strategic plans, initiatives, and recommendations.
Serve as the financial and operational leader of the school.
Financial and Accounting
Manage the financial stability of the School, overseeing purchasing, tuition billing and receivables, banking relationships, cash flows, liquidity, and development of financial models, payroll and benefits program.
Manage the financial capital requirements and funding implications of all capital projects.
Create, revise, and maintain the annual and five-year budget forecasting model.
Oversee cash and investment management.
Analyze and advise on school’s long-term financing and ensure compliance with all certifications and debt covenants.
Annually update NAIS, NYSAIS & JSN surveys.
Collaborate with the President and senior administrators, oversees the annual budget setting process for the school and establishes a clear, consistent process of budget-to-actual reporting for all school budget managers.
Oversees tuition assistance processing and collaborates with the admission team for awarding assistance.
Oversee financial statement audit.
Human Resources and Operations
Oversee the provision of employee compensation, benefits, and retirement plans.
Ensure the school’s hiring processes, personnel records, and Employee Handbook are conducted using lawful and best practice methods.
Manage employee retirement plan, including vendor relationships / ensure compliance and fiduciary oversight as appropriate.
Supervise the Director of Facilities.
Oversee the maintenance and operation of school facilities; ensures planned construction, renovation, and maintenance projects are implemented.
In collaboration with the Facilities Manager, oversee work requests and review long term and preventative maintenance plans.
Collaborate with the Director of IT who manages the school’s technology assets and infrastructure and helps develop technology acquisition plan.
Compliance and Risk
Serve as the school’s primary risk-assessment officer.
Manage and maintain appropriate levels of insurance to protect the property, employees, students, and trustees of the school.
Collaborate with educational and operational leaders to understand and mitigate risk as appropriate.
Oversee the school’s safety, emergency preparedness, revises Emergency Handbook and activity liability.
Bachelor’s Degree in Accounting required or significant relevant experience in finance or accounting.
CPA or MBA strongly preferred.
Five years’ experience in a financial or business leadership position. Experience with non-profits or independent schools is highly desirable.
Strong background in finance, budgeting, investing, and cash management required.
Strong attention to detail and understanding of nuanced school environment situations.
Previous supervisory experience required.
Excellent cultural competency, willing and able to excel to work with multiple groups of people from diverse backgrounds.
Ability to communicate effectively with faculty, administration, trustees, and parents/guardians.
Possess high energy, a strong work ethic, and a positive attitude.
Collaborative team member.
Advanced technology skills including Word, Excel, Google software and financial software. Experience with FENXT is a plus.
The position is a 12-month administrative position from July 1 to June 30.
Typical Level of Interaction:
Requires interaction with all School departments in addition to students and families.
Equal Employment Opportunities:
It is the school’s policy to provide equal employment opportunities to all applicants for employment, consistent with federal, state and local laws. Accordingly, all applicants for employment are to be treated without regard to race, color, religion, sex, age, national origin or citizenship status, qualified handicap, sexual orientation, marital or veteran’s status or inconsequential handicaps. This policy pertains to every aspect of an individual’s relationship with the School.