Olivet College announces its search for a Vice President for Finance & Administration. The VPFA is the chief financial officer (CFO) and is responsible for providing leadership for all aspects of institutional finance and administration, including: financial services, human resources, physical plant, legal services, and auxiliary enterprises. Along with the provost and the vice presidents for advancement and enrollment/marketing, the VPFA is one of four senior executives reporting directly to the president and is an important member of the president’s cabinet.
Olivet College was founded in 1844 on the principle that the future of humanity rests in the hands, hearts and minds of those who will take responsibility for themselves and others in an increasingly diverse society. Open since its founding over 170 years ago to all regardless of race, gender or ability to pay, Olivet is one of the most diverse private liberal arts institutions in the state and actively seeks diversity in its students and employees. The student body is composed of a strong mixture of first-generation, urban, rural and students from all socioeconomic backgrounds, with over 50 percent qualifying annually for Federal Pell Grants. As part of the academic vision of Education for Individual and Social Responsibility, faculty, staff and students commit themselves to the Olivet College Compact, a series of statements that define the tenets of what it means to live and learn as a responsible member of the Olivet College community and the larger world. Olivet College faculty and staff are committed to providing personalized, individualized attention for students who seek academic and personal success. It is critical that the college find the right financial and administrative leader who not only wants to make a mark on this great college, but who does so with a passion for its mission.
The new VPFA will join the college at an exciting and opportune time. Under the leadership of President Steven M. Corey, Ph.D., the college is actively executing a comprehensive strategic plan, Charting the Course to 2020 and Beyond, that includes substantial growth and development in enrollment, the addition of new academic and co-curricular programs, new construction and major renovation projects, expanded program support and increasing fiscal health and endowment. A campus master plan has been initiated with completed projects to date including an $800,000 renovation to the admissions and administrative area, $650,000 for a library “learning commons” and $2.5 million in updates to existing residence halls. Many classrooms and laboratories in the 50 year-old central academic building have been renovated and modernized with $2 million in updates remaining to be completed. In response to an increase of over 400 residential students since 2010, the college has acquired additional residential units, including purchase of a 69 bed apartment complex and several residential homes for use as student housing and as possible future building sites for new campus housing. Acquisitions and renovations of existing physical plant have contributed to an almost $19 million increase in net assets since 2010. A new student center, an archives and college history center, a student-faculty engagement center, and new residence halls are in the design phases, with an anticipated launch of construction on a $10-million residence hall within the next 12-18 months.
Olivet College is an enrollment-driven institution with gross operating revenues of $30.7-million. It is financially stable and has substantially increased its financial health from a low composite score of 0.7 in June 2009 to 3.0 for the fiscal year ending 2016. The college has demonstrated seven successive years of balanced budgets, net tuition revenue growth, strategic allocation of resources with campus capital investments exceeding $26-million over the last five years, increased endowment contributions and investment returns, and investment in its human capital by implementation of a salary market equity plan for faculty and staff. A highly functioning senior administrative team and board have all contributed to these successes. The college is poised to launch the public phase of an ambitious comprehensive campaign, having already exceeded targets in several areas during the quiet phase, including securing the first eight-figure gift in the history of the college. With a final campaign target near $50-million the college has already exceeded all previous campaign totals. With successful completion by June 2019, nearly every building and program will have been positively impacted. The college requires a competent and capable institutional leader in its next VPFA who can bring her/his command of financial and administrative skills and expertise to bear on continuing and accelerating these successes to increase the college’s fiscal health and sustainability and to help realize the strategic future it has outlined.
The college is located in Olivet, an intimate college-town in south-central Michigan, which provides students with an ability to focus on their college experience away from distractions but only 20-30 minutes from the urban centers of Battle Creek and Lansing. As part of a presidential initiative to increase the number of faculty and senior officers who live in the community, a contribution toward the purchase of a home within the local school system is a negotiable part of the hiring package for the successful candidate for this position.
To apply to be the next vice president for finance and administration at Olivet College, candidates should have a baccalaureate degree in a related field with a preference for finance or accounting; history of progressive experience in the areas of finance, accounting, and/or college administration; and at least seven years of experience in institutional financial leadership. An MBA and/or CPA is preferred.
Consideration of candidates will begin immediately and continue until the position is filled. Please send a cover letter, CV or resume, and a list of at least three references by May 15 to be fully considered to:
Terri Glasgow, Director of Human Resources
All application materials will be maintained in confidence until the later stages of the search process.
Founded in 1844, Olivet College was the first college by charter in Michigan to admit women and people of color. As part of its commitment to a values-based mission of Education for Individual and Social Responsibility, the College actively seeks diversity in its students, faculty and staff. Women and members of historically underrepresented groups are strongly encouraged to apply. Olivet College is an equal opportunity employer and does take affirmative steps to employ women and minorities.