DRAKE UNIVERSITY Vice President of Business and Finance/ Treasurer

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1 DRAKE UNIVERSITY Vice President of Business and Finance/ Treasurer Drake University in Des Moines, Iowa, is seeking an experienced and talented person to fill the position of Vice President of Business and Finance/Treasurer. He/she will replace Ms. Victoria Payseur upon her retirement after 14 years of extraordinary service to the University. Reporting to the President, the Vice President will lead the Business and Finance Division, which includes approximately 20 essential operating functions and 230 employees plus approximately 130 outsourced employees. He/she will oversee a University budget of approximately $125 million, an endowment portfolio in excess of $150 million and a 140-acre physical plant with 60 buildings. DRAKE UNIVERSITY Drake is a private institution with a well-articulated mission to promote the integration of liberal arts and professional education in order to shape its students as reflective scholars, effective practitioners and engaged citizens. Founded in 1881 by Frances Marion Drake, a Civil War general, Drake University has been a center of education and opportunity for more than 125 years. As a medium size private university, Drake provides its students with the benefits of a large school with the intimacy and personalization of a small liberal arts college. Drake's size allows faculty and staff to foster close relationships with students that help meet educational, professional and personal goals. Drake s six colleges and schools offer breadth and depth in all of their programs. Its some 5,600 undergraduate, graduate and professional students may choose from more than 70 programs of study, and they have the option of designing an individual major to help meet educational, professional and personal goals. Drake's student-to-faculty ratio of 14:1 offers a quality experience that reflects its mission statement and allows the type of faculty attention to student work expected from a private institution. DRAKE UNIVERSITY MISSION STATEMENT Drake's mission is to provide an exceptional learning environment that prepares students for meaningful personal lives, professional accomplishments and responsible global citizenship. The Drake experience is distinguished by collaborative learning among students, faculty and staff and by the integration of the liberal arts and sciences with professional preparation. 1

2 DES MOINES, IOWA Drake s location in Des Moines, Iowa, the state capital, puts the university at the crossroads of the state s cultural, business and political activity, all of which provide students with many opportunities for learning, internships, and careers linked to the city s wealth of businesses, schools, healthcare systems, government and cultural institutions and activities. Drake s 150-acre campus is within 10 minutes of downtown Des Moines; facilities include both modern architectural showplaces and historic buildings. The Drake neighborhood is an eclectic mix of turn-of-the-century homes, shops and services including coffeehouses, restaurants, grocery stores and an art-house movie theater. Drake s location in the political and business hub of Iowa, coupled with the University s reputation in the community, makes Drake a resource upon which area employers rely when filling internships and jobs. Des Moines is also a great place to enjoy modern art or classic architecture, experience metropolitan amenities or explore scenic bicycle trails. The city s diverse offerings include the antiques shops and one-of-a-kind boutiques of historic Valley Junction; downtown s lively East Village and Court Avenue districts; a zoo, science center and art museum; and the annual Des Moines Arts Festival, which is ranked among the top five art festivals in the country by AmericanStyle magazine. In its July 2008 issue, Kiplinger s Personal Finance magazine named Des Moines one of the top 10 best cities in the country to live, work and play. Other accolades include: The #1 Best Place in U.S. for Young Professionals Forbes The #1 Highest Median Income U.S.News & World Report The #1 Best Place to Raise a Family Forbes The #1 Best Place for Business and Careers. Forbes The #5 Best City for Families. Parenting magazine Top city for Weathering the Real Estate Bubble. SmartMoney 2

3 Top 3 Most Livable Cities. Forbes Top 3 Where to Live + Play Now. National Geographic Adventure Top 10 Best Housing Markets. SmartMoney 5th in its category in "Best Cities for Relocating Families." Worldwide ERC Iowa ranks 6th in America's Top States for Business. CNBC AN EXCEPTIONAL WORKING ENVIRONMENT More than 900 faculty and staff members have chosen Drake as the place to further their careers. The University continually evaluates its practices and culture in an effort to provide an exceptional working environment. A strong sense of community, a dedicated and engaged faculty and staff as well as an interest in and enthusiasm for shared governance, deliberative decision-making and open communications infuse the Drake culture. DRAKE UNIVERSITY S FINANCIAL AND OPERATIONAL PROFILE During the past12 years Drake University has become a national model for higher education in a variety of ways. Despite a national economic downturn, the University has produced a surplus budget for the last seven years allowing for capital improvements totaling $96 million and significantly reducing deferred maintenance. Sound fiscal management also provided for considerable increases in faculty and staff salaries as part of a comprehensive compensation project. Contributing to the University s financial success has been a 100 percent increase in the number of undergraduate applications in the past five years, producing a steady first-year enrollment of 830 or more students each year with a consistently improved academic profile. In addition, strong transfer admission and a graduate student enrollment of approximately 2000 combines for an overall enrollment average of 5500 students per year. A major factor in Drake s stability in enrollment is a retention rate between the freshman and sophomore year that has ranged from 87 to 89.4 percent in recent years. The University is engaged in a major comprehensive fundraising campaign with a goal of $200 million. The campaign has reached one-half its goal to date. BUSINESS AND FINANCE The scope and variety of activities in this Division include the following: Accounting, Controller s Office, Student Accounts, Student Loan Collection, University Budget Office, Financial Analysis, Financial Reporting, Endowment, Investments, Cash Management, Grants Accounting, Banking, Payroll, Internal and External Audit, Facility 3

4 Services, Service Employees Union, Procurement, Real Estate Operations, Bookstore, Security, Parking, Human Resources, Student Employment, Mail and Copier Services, Dining Services and other food operations, Environmental Health and Safety, Debt Management, Construction/Architectural Management, Contract Management, Risk Management and Insurance. Strategically, the Division of Business and Finance focuses its energies and activities on achieving five principal and ongoing goals: To enhance the long-term financial health of Drake University To ensure that resource allocation is aligned with the University s strategic priorities To provide a competitive and safe environment To facilitate and monitor a competitive salary and benefit package for all faculty and staff To mitigate institutional risk and preserve University assets The Vice President for Business and Finance/Treasurer is the chief financial and business officer of the University and reports directly to the President. The Vice President acts as the staff liaison for the following standing committees of the University s Board of Trustees: Business, Finance and Investment Committee; Audit Committee; and Buildings and Grounds Committee. The Vice President serves as a member of the President s Cabinet and is directly involved in strategic decisions affecting the future of the University. The Vice President leads the University's Sustainability Initiative, part of the President's Climate Commitment and Blue is Green initiative. During the past 10 years, the Division of Business and Finance has continuously examined its operations for cost savings, process efficiencies and best practices. Some accomplishments in recent years include: Developed a 20-year Campus Facilities Master Plan Created multiyear (g.a.a.p.) operating and capital budgets tied to the University s strategic plan and priorities Renovated all student residence halls (last two were completed by the fall of 2008) Invested more than $96 million in facilities since 2001 Increased operating results steadily each and every year for the past 10 years Funded an $11 million investment in heating/cooling infrastructure from energy savings Developed a University-wide performance evaluation system which links individual employee goals directly to the University strategic plan and provides merit pay for performance Created a transparent environment for financial operations, including: o Annual campus wide Budget Presentations and Financial Updates o Business and Finance and Campus Master Plan Updated, November 2010 o Business and Finance, Strategic Plan FY04 FY08 Final 4

5 o Business and Finance, Strategic Plan FY09 FY13 Summary o Key Indicators o Financial Report Card o Current Audited Financial Statement ended May 31, 2010 o Modified Sarbanes-Oxley model o Tuition and fees philosophy ATTRIBUTES To provide the leadership required in this position, the Vice President of Business and Finance/Treasurer will demonstrate the following attributes: A vision and passion for the University programs, its Mission and Strategic Plan; Strategic decision making, management and leadership capabilities; The skill to create and communicate an inclusive University financial plan on a community wide basis and with external constituents; The ability to build trust and develop strong working relationships with the president, the board, the senior leadership team, faculty, staff, students, and community leaders in an open and collaborative environment; A commitment to institutional transparency and accountability Knowledge of and experience in implementing best financial and compliance practices across a large organization; The confidence to make decisions guided by honesty, integrity and trustworthiness An ability to understand the distinctive culture of the Drake University community; An ability and willingness to represent the University on a local, regional and national level; A commitment to sustainability in managing the physical resources of the University; An advocate for students who understands the student environment Management expertise in the context of a large, diverse, and service-focused organization; An understanding of contemporary technology and software that applies to the University Knowledge of risk management, human resource and security and safety best practices; 5

6 QUALIFICATIONS A minimum of a master s degree with demonstrated experience in all aspects of business and finance, Significant experience in higher education administration or comparative experience in the areas of business and finance or related fields CPA preferred NOMINATIONS AND INQUIRIES The Vice President of Business and Finance/Treasurer Search Committee will begin reviewing applications September 19, 2011, and will continue until an appointment is made. To assure full consideration, applications should be received by October 3, 2011, and must include a letter of interest, curriculum vitae and five professional references with and telephone numbers (references will not be contacted without prior authorization from the applicant). Applications and nominations should be sent electronically (MS Word or Adobe PDF) to: drake@agbsearch.com The search is being assisted by: Oscar C. Page, Ph.D Senior Consultant AGB Search ocp@agbsearch.com Drake University is an /Equal Opportunity Employer and actively seeks applicants who reflect the diversity of the nation. No applicant shall be discriminated against on the basis of race, color, national origin, creed, religion, age, disability, sex, gender identity, sexual orientation or veteran status. 6