Associate Vice President/Controller Finance and Business
POSITION SUMMARY AND OVERVIEW Penn State University (PSU) and the Penn State College of Medicine (COM) seek an experienced financial executive to serve as the Associate Vice President (AVP), Finance and Business, Penn State University, and Controller, Penn State College of Medicine. This broadly responsible and highly visible member of the Senior Management Team provides strategic leadership in the financial oversight and stewardship of University resources at the COM. The position collaborates closely with the financial, academic and clinical leadership at Penn State University, Penn State Health, and the Penn State Health Milton S. Hershey Medical Center to advance the academic missions of biomedical and health sciences research and education at the Penn State COM campus in Hershey, PA.
Penn State College of Medicine
Established in 1963 with a gift of $50 million and real estate from the Milton S. Hershey Foundation, the Penn State COM is part of an academic medical center that includes the Milton S. Hershey Medical Center, Penn State Children's Hospital, and Penn State Health Academic Medical Division. The COM is committed to enhancing the quality of life through improved health, the professional preparation of those who will serve the health needs of others, and the discovery of knowledge that will benefit all. Located 90 miles from University Park Campus in Hershey, Pennsylvania, the COM enrolls over 900 medical and graduate students and employs approximately 1800 faculty and staff. The annual operating budget for FY2020 is $318 million with $115 million in projected research awards.
Penn State Health
Penn State Health (PSH), a nonprofit corporation, operates, directly or indirectly, through its affiliates, subsidiaries and joint ventures, an integrated health care delivery network focused on serving the population of the greater southcentral Pennsylvania region. PSH and its controlled affiliates (collectively, the “PSH System”), along with its other affiliates and joint ventures provide patients across 29 Pennsylvania counties a comprehensive array of services in hospital, physician office and ambulatory surgery care settings. Anchored by Milton S. Hershey Medical Center, an academic medical center affiliated with The Pennsylvania State University, the PSH system is focused on creating a competitive, high value network of care, with the goal of offering patients within its service area “10-20-30 minute” access to PSH System primary, specialty or acute care. As of June 30, 2019, the PSH System had total operating revenues of $2.5 billion and $1.6 billion in total net assets.
Milton S. Hershey Medical Center
An affiliate of PSH, the Milton S. Hershey Medical Center (Medical Center) is a full-service, tertiary, and quaternary care institution with all major services represented in both adult and pediatric medicine. With 548 licensed beds and located in a seven-story building contiguous with the COM, the Medical Center is the only hospital in Central Pennsylvania with both a Level 1 Adult and Pediatric Trauma Center, attending to 73,000 Emergency Department visits a year, and 29,000 inpatient admissions. The Medical Center serves as the primary teaching hospital for the COM.
University Financial Relationship
Penn State University and PSH have a synergistic relationship, sharing mutual missions and interdependencies. PSH supports, operationally and financially, the Penn State COM. A Master Affiliation Agreement serves as an umbrella agreement, coordinating and confirming the various commitments of Penn State and PSH to one another. The financial relationships between Penn State and PSH have been documented in such agreements as the Academic Support Payment, the Facility Use Agreement and the Intercompany Services Agreement. The agreements between Penn State and PSH are reviewed regularly and will be updated from time to time to reflect ordinary course changes in allocation of services, use of facilities and provision of support among parties.
This position will report to the Senior Vice President for Finance and Business/Treasurer of Penn State University and have a dotted-line reporting relationship to the Interim Dean (and ultimately, the Dean), Penn State COM. Planning for a national search for a permanent Dean is currently underway. Reporting to the AVP for Finance and Business/Controller is a highly functioning team that includes an Assistant Vice President for Finance and Business, an Assistant Vice President of Facilities, a Director of Faculty Financial Affairs, and a Director of Auxiliary and Business Services. The position has direct oversight of the COM's annual operating budget of $318 million (FY2020).
The successful candidate will demonstrate a high degree of emotional intelligence and organizational engagement and senior administrative experience to effectively navigate the highly complex organizational structure of an academic health center and integrated health system. The AVP for Finance and Business/Controller will serve as a partner and strategic thought leader in building sustainable operational and financial models to support a common vision and strategic plan to grow the research, academic and clinical missions.
As AVP for Finance & Business, oversee all Hershey campus facilities and infrastructure, including safety, environmental, energy procurement, business services, campus master planning, including all campus-related construction financing and real estate agreements
Provide strategic thought leadership to the Dean and University leadership on the financial aspects of the COM's strategic plan development and alignment with broader University strategic initiatives in support of biomedical and health sciences research and education
Steward University-owned assets at the Milton S. Hershey Medical Center campus, working in collaboration with the Penn State Health Chief Financial Officer as fiduciaries of the Master Affiliation Agreement between PSU and Penn State Health that confirms various financial and operating commitments by Penn State Health and Penn State Health Milton S. Hershey Medical Center in support of the COM
Oversee and update various agreements set forth by the Master Affiliation Agreement between PSU and Penn State Health, including the Academic Support Payment, Facility Use Agreement, and Intercompany Services Agreement
Work with the Dean, Vice Deans, Institute Directors, and Department Chairs, to lead the development of the College of Medicine's annual operating and capital budgets
As Controller for the COM, work collaboratively with the Associate Vice President for Finance and Controller, Penn State University, to provide day-to-day oversight of all control functions including accounting and budgeting, payroll, accounts payable, and research, endowment and gift funds. This includes responsibility for college financial reporting, year-end closing and oversight of all College reserves
Oversee management of COM revenues and expenses, including, contract and agreement negotiation and execution, as well as cost allocations
Support the Academic Compensation Committee and oversee the drafting of faculty offer letters, coordinating faculty compensation changes and discretionary bonus and incentive award payments
Serve as a key member of the PSU Finance and Business Leadership Team, the Dean's Leadership Team, Penn State Hershey Executive Council, Clinical Leadership Forum, and Penn State Hershey Facilities Resources Board
Prepare and make executive presentations before Penn State University Board of Trustees and the Finance, Business, and Capital Planning Committee on proposed action items and informational briefings related to the COM
Answer complex inquiries requiring explanation, persuasion, and interpretation of policies to faculty, staff, and students
REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES
Minimum seven to ten years of experience in a senior financial management leadership role managing financial and business functions in a large complex organization, preferably in an academic healthcare organization, with matrixed and interdependent reporting relationships
Qualifications include a master's degree in Business Administration, or related field (e.g., Public Administration, Health Administration, etc.) from an accredited institution and/or a CPA designation
Strong preference for executives with management experience within a similarly organized research-oriented, academic medical center and college of medicine or experience in higher education environment with working knowledge of tuition revenue, gifts and endowments, as well as of emphasis on education and research
Candidates must demonstrate confidence and past effectiveness in working collaboratively with academic executives across broad financial matters including budgeting, cost allocations, and containment and compensation
Candidates must have strong interpersonal skills necessary to interact with all levels of organizational management. Candidates must be highly collaborative with exceptional communication skills, both verbal and written
Candidates must possess a proven ability of developing and presenting financial/budgetary information to a variety of internal and external audiences
Candidates must possess superior problem-solving skills necessary to organize, plan, and execute full scope of operational activities
Candidates must demonstrate the ability contribute to and support the professional growth and development of direct and indirect reports
OTHER SKILLS AND PERSONAL QUALITIES
Results-oriented with high level of energy and a passion for continuous improvement and innovation
An effective communicator who brings a track record of superior mentoring, consensus building, teamwork, and interpersonal skills
A strong service orientation, sense of integrity, and commitment to diversity
An entrepreneurial leader willing to apply data-informed decision-making in recommending calculated risks in appropriate situations
Unquestioned integrity with a track record of seeking excellence
CAMPUS SECURITY CRIME STATISTICS: For more about safety at Penn State, and to review the Annual Security Report which contains information about crime statistics and other safety and security matters, please go to http://www.police.psu.edu/clery/, which will also provide you with detail on how to request a hard copy of the Annual Security Report.
Penn State is an equal opportunity, affirmative action employer, and is committed to providing employment opportunities to all qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.