Position Description

The Chief Financial Officer (CFO) is responsible for leadership and oversight of the Department’s Budget and Accounting Division, including the Department budget, collaboration with the Governor’s Office of State Planning and Budgeting (OSPB), the Joint Budget Committee (JBC), and the Capital Development Committee (CDC) on the annual state budget for higher education, convening the institutional CFOs, and establishing and implementing the overall budget strategy for the Department and Colorado Commission on Higher Education (CCHE). The position works closely with OSPB to develop and refine the approach to higher education budgeting in the state. The position maintains a general knowledge of public higher education financial issues, trends, and strategies at a national, state, and institutional level and requires a deep understanding of higher education policy and accounting, short- and long-term financial planning, strategic and entrepreneurial thinking, internal controls, and a service-oriented attitude.

Supervision Exercised

This position supervises three (3) employees: Budget Director, Controller, and Senior Policy and Data Analyst.

Scope of Responsibilities

This is an executive position responsible for strategy and oversight of all functions of the Budget and Accounting Division for the Department of Higher Education. Positions at this level are responsible for leading the Division, with a focus on innovation, collaboration, and customer service, which will include working with staff to maximize the utilization of internal resources and providing budgetary vision and guidance in support of the Department’s mission and goals. Positions at this level provide leadership, direction, and supervision for all Divisional activities, including ensuring accountability, providing professional development, building rapport within the Department, and contributing as a member of the Department’s Senior Staff. The work's duties require considerable independence, initiative, and discretion within broad guidelines.

Job Duties

The duties listed below reflect the different types of work that may be performed. The omission of any specific duty will not prevent the assignment of work that is appropriately related to this position.

Budget:

Support the Executive Director in all budget-related endeavors related to the Departmental and institutional higher education budget in Colorado, including preparing the Executive Director for Governor’s Office budget briefings and legislative budget testimony

Review all budget related materials—including written requests and documents submitted to the Colorado Commission on Higher Education

Develop strategy and lead engagement approaches with institutional CFOs

Oversee implementation of all finance and budget related legislation within the Department

Accounting:

Oversee the preparation of the annual internal budget, obtain organizational needs, obtain consensus on priorities, and translate the consensus into a financial plan for the Department and each Division

Support successful implementation of month-end and year-end close process, including utilizing and analyzing state accounting system reports, reviewing required financial reports and exhibits, and ensuring the general ledger is properly balanced

Ensure the implementation of and adherence to sound financial controls, policies, and practices, including state and federal fiscal rules and regulations

Develop and maintain procedures that integrate business and strategic planning into the annual internal budget process

Develop and lead strategies for Divisional delivery of monthly, departmental internal budget updates to the Executive Director and Deputy Executive Director

Fiscal Policy:

Advise the Colorado Commission on Higher Education on overall finance trends in higher education and the state

Oversee Colorado’s performance-based funding allocation model and make any necessary revisions in coordination with budget team and data team staff updates data

Serve as the content expert on the Colorado higher education funding allocation model

Advise the Department and the OSPB on fiscal policy development

Qualifications

Education and Experience

Any combination of experience and education that would likely provide the required knowledge and abilities is qualifying. A typical way to obtain the knowledge and abilities would be:

Education:

Bachelor’s degree from an accredited university or college in accounting, finance, economics, public policy, business administration, higher education, management or closely related field

Substitution: Four (4) years of experience in a related position can replace the education requirement of a bachelor’s degree

Experience:

Seven (7) plus years of progressive leadership and direct staff management, including experience leading multiple functional teams

Five (5) years of progressively responsible professional experience in financial administration, including at least two of the following areas: developing and managing a budget; strategic financial planning; and forecasting; developing standards and procedures; or meeting federal reporting requirements

Two (2) years of experience with a legislative budget process, including finance policy development, preparing budgeting requests, submitting responses to the legislature, analyzing the fiscal impact of legislation, and finance policy implementation

Experience in public sector contract management, budget, and governmental financial management, including the development, preparation, and execution of multimillion-dollar budgets

Extensive experience developing relationships with constituents, including state agencies and higher education institutions

Licenses and Certifications:

Valid Colorado driver’s license and compliance with all requirements for driving a state vehicle are required throughout the term of employment

Preferred Qualifications

Education:

Master’s degree from an accredited university or college in business or public administration, finance, or accounting

Licenses and Certifications:

Certified Public Accountant license

Experience:

Experience as a CFO or equivalent, for another Colorado state agency, a higher education state agency in another state, or at an institution of higher education

Experience working with higher education institution financial issues

Experience working within Colorado’s higher education landscape, including the statutory authority, policies, and standards of the Department

Experience with State of Colorado fiscal and procurement rules, including experience with State accounting and procurement systems

Knowledge of:

Colorado’s budget and legislative processes, state finances, administration and allocation of funds, budget planning, and management

Advanced office practices, procedures, software and equipment, including the use of personal computers, telephones, Zoom, and Microsoft Office (Excel, Word, Power Point, Outlook, and Teams)

State statutes, rules and regulations, policies, procedures, and guidelines, including state accounting and procurement systems

Federal and private grant funding and regulations

Outcomes-based funding or institutional funding formulas

Ability to:

Advance complex policy and finance issues through effective relationship building, understanding, and communication with partners

Monitor work activity to increase efficiency and improve the effectiveness and productivity of the budget and accounting teams

Mentor, develop, and motivate staff and encourage strong performance

Work effectively in both independent and team situations

Establish and maintain relationships with internal and external stakeholders

Use consensus building skills to effectively manage constituencies with competing interests

Evaluate complex information and take initiative in collaborative problem solving, especially related to fiscal conditions, budget operations, and oversight

Communicate effectively and present informative findings, both written and verbally, in a complex political environment

Employ attention to technical detail and accuracy

Manage sensitive issues and confidential information

Apply time management skills to prioritize work across multiple high-priority responsibilities

Physical and Mental Standards (Hybrid Setting)

The physical and mental standards described here are representative of those that must typically be met by employees to perform the essential functions of this class successfully. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Frequently sit at a desk for extended periods of time

Frequently walk and stand

Occasionally may push or pull an object

Frequently use finger dexterity and operate a keyboard

Regularly lift 10 pounds and occasionally lift 25 pounds

Frequently use vision to read documents, view computer screens, and see close and distant objects

Frequently use speech and hearing to engage in conversation, in person, and over the telephone

Typical Working Conditions

The employee typically works in a standard office environment where the noise level is moderate, and the office has controlled temperatures. Works a 40-hour work week, either remotely, hybrid, or in-office, depending on the arrangement met during employment with the supervisor during normal office hours of Monday– Friday 8:00 am – 5:00 pm.

Job duties may occasionally require working extended hours or hours outside of the regular schedule.

The position may require periodic in-state and out-of-state travel requiring occasional overnight stays. The position requires the ability to travel independently through the state including overnight stays.

Notice

The above statements are intended to describe the general nature and level of work being performed by people assigned to this position. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed. The duties, expectations, and actions listed for this role may change at any time with or without notice.

The State of Colorado believes that equity, diversity, and inclusion drive our success, and we encourage candidates from all identities, backgrounds, and abilities to apply. The State of Colorado is an equal opportunity employer committed to building inclusive, innovative work environments with employees who reflect our communities and enthusiastically serve them. Therefore, in all aspects of the employment process, we provide employment opportunities to all qualified applicants without regard to race, color, religion, sex, disability, age, sexual orientation, gender identity or expression, pregnancy, medical condition related to pregnancy, creed, ancestry, national origin, marital status, genetic information, or military status (with preference given to military veterans), or any other protected status in accordance with applicable law.

The Colorado Department of Higher Education is committed to the full inclusion of all qualified individuals. As part of this commitment, our agency will assist individuals who have a disability with any reasonable accommodation requests related to employment, including completing the application process, interviewing, completing any pre-employment testing, participating in the employee selection process, and/or to perform essential job functions where the requested accommodation does not impose an undue hardship. If you have a disability and require reasonable accommodation to ensure you have a positive experience applying or interviewing for this position, please direct your inquiries to our Human Resource Director at HR@dhe.state.co.us or call 720.264.8575.

Colorado Department of Higher Education

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