Director of Budget Management - Stanford - Stanford University

Description

The University Budget Office (UBO) at Stanford University reports directly to the Provost and is responsible for the processes and policies related to the university's $10 billion consolidated budget, including planning and managing the annual budget process, developing the annual Budget Plan for approval by the Board of Trustees, managing the university's general fund and allocations from it, and managing various budgeting systems. The UBO partners with the CFO's office in the setting of financial policies and the analysis of their impact on university resources and operations. It also supports the President and Provost in the allocation of central resources to the university's highest priorities. The UBO performs financial and budgetary analyses that support critical decision making by the Vice Provost for Budget and Auxiliaries Management, the Provost, other senior management, and the Board of Trustees. The UBO strives to deliver excellent customer service, analytical support, and guidance on best practices for using the budget to promote strong financial management throughout the university.

Position Summary

Reporting to the Vice Provost for Budget and Auxiliaries Management, the Director of Budget Management has responsibility for managing, controlling, and enhancing the university's budget systems (currently, Cardinal Planning & Budgeting and related systems) and the university's distributed budget process, leading a team of technical and financial staff.

Key areas of responsibility are: (a) managing the consolidated budget process, including final responsibility for university budget management, control, and variance analysis; (b) leading the design, implementation, and maintenance of the university budget systems and selected other institutional financial information systems (c) working in coordination with other university offices on financial information systems design and implementation; (d) oversight of user support, training, and documentation for the budgeting process and related systems; and (e) formulation of strategic directions and goals for the management of the university's budget.

The Director is responsible for designing processes and policies affecting the university at all levels and impacting a wide range of units and people, from senior officers to department administrators. The Director must be self-directed and highly skilled in providing relevant analysis, conceptual and practical guidance, strong leadership, and project coordination. The Director will interact with a variety of university senior officers as well as a variety of managers at all levels. This position contributes to the financial decision-making/policy formulation process within the university, as well as the review and formulation of university financial policies. The Director is accountable to the Vice Provost for Budget and Auxiliary Management but works independently within university policies and long-range goals. An erroneous decision or result, or the failure to meet objectives, will have a serious effect on the university at all levels.

Responsibilities of this role

The Director of Budget Management has final responsibility for the areas of work detailed below. In each area, the Director manages and sets key strategic directions, goals, and objectives and is responsible for the achievement, quality, and accuracy of these goals, products, and results.

Budget Management and Control

• General Budget Management and Control: this includes (a) managing the process by which the distributed university consolidated budget is prepared by all the schools, departments, and units in a way that is consistent both with the guidelines approved by the Board of Trustees for the following year and with accounting principles; (b) monitoring and controlling budget revisions during the fiscal year; (c) developing, implementing, and monitoring the variance (between actual and budget) control process throughout the fiscal year; and (e) developing and preparing management reports on financial activity in the various schools and units such as profit and loss statements and fund activity reports.
• Budget Systems: this includes (a) leading and managing the design, implementation, expansion, on-going use, and maintenance of the university's budget system (currently Cardinal Planning & Budgeting) and other related systems (e.g., iBudgets), as well as integration of those systems with other financial information systems university-wide, including interfaces with the university's General Ledger and Human Capital Management systems.
• Budget related data management and integrity: working closely with the Controller's Office, University IT, and Financial Management Services, as well as distributed users, to ensure that university budget related data and reports are accurate, consistent with each other, not redundant, and organized in ways that make management reporting easier and more accurate at all levels of the university, including cleanup efforts and on-going monitoring to make sure that processes, procedures, and documentation are consistent with overall data and report definitions.
• Guide financial management staff of 30 budget units throughout the university in the development, management, and reporting of financial plans and forecasts.
• User Training and Process Documentation: Supervising the analyst(s) responsible for process and budget system documentation for consolidated budgeting systems, and for the development of training materials and delivery of beginning and advanced classes and labs, all focused on continual support for the users of the budget system and other related financial systems.

Analysis and Policy Setting

• Accounting: Providing in-depth understanding of the university accounting system, general ledger, and chart of accounts in order to be able to work efficiently with the Controller's Office and to provide budget information that is easy to reconcile with the university published financial statements, as well as insuring that all accounting principles are met during the budgeting process and that budget principles and goals are understood by the Controller's Office. Work with senior managers in the finance and IT areas, providing expertise in concepts, theories, and practices of sound financial management in accordance with concepts of Fund Accounting, Financial Accounting Standards Board, and Generally Accepted Accounting Principles.
• Represents Stanford in outside forums (conferences, meetings with peer institutions) on topics and matters concerning Stanford's implementation of budgeting and other financial systems. Advocate with vendors on product support and enhancement issues that will benefit the university.
• Serve as Provost's representative in information system projects to ensure system designs and enhancements match academic as well as administrative priorities of the institution. Contribute business analysis expertise on ad-hoc financial information systems projects, such as changes to the university's endowment payout mechanisms. Serve as senior administration liaison with Controller's Office and programming teams implementing Oracle Financials and human capital management systems, providing leadership, policy, and design input.
• Lead other computer and financial system analysis and design efforts as needed to develop and implement broad university budget and financial policy issues (e.g. Incremental Endowment Payout Swap, Tuition Grant Program, Infrastructure Charge/Overhead Recovery).

University Financial Oversight and Strategy

• Guardianship of fiduciary responsibility through the delegation of broad financial authority and assignment of financial system access and approval roles to budget officers and other staff.

Staff Supervision

• The Director currently oversees a team of six exempt staff, one of whom reports directly to this position. The Director is responsible for determining staffing needs; making hire decisions; providing coaching, training and mentoring; managing performance; developing and ensuring cross-training and succession planning; and building a collaborative, team-oriented atmosphere.

Requirements for this role

• Minimum requirements: Master's degree and ten years' relevant experience or combination of education and relevant experience.
  • Preference: An advanced degree and/or equivalent training and experience in the following areas: economics, financial and budget management, information systems, quantitative methods, data analysis; eight to ten years of progressively responsible professional experience in financial and budget management and analysis.
• A strong and demonstrated level of leadership.
• Experience in building and implementing a vision and long-range strategy for complex processes, systems, and organizations.
• Demonstrated ability to plan, manage, and bring to completion highly complex projects, system implementations, and financial and analytical studies and reviews.
• Expert analytical and organizational skills including: an ability to think conceptually, exercise initiative in identifying objectives, establish priorities, develop project strategies, and prepare and present clear and concise summaries of work.
• Ability to solve highly complex financial problems and to manage complex financial systems.
• Ability to work with a group of people and to obtain advice and to coordinate activities across organizational units.
• Proven knowledge of the following areas:
  • University budgeting and accounting systems and databases; familiarity with nonfinancial databases.
  • Fund accounting principles.
  • On-premise or cloud enterprise systems' lifecycle from requirement gathering to operations
• Demonstrated experience directing the activity of financial staff and managing staff and team performance to meet established goals and to work to their highest potential, and a proven ability to work across functional lines.
• Excellent interpersonal skills and compatibility with a team-oriented environment.
• Excellent communication skills necessary to articulate policies and communicate complex financial data, issues, conclusions, and recommendations on sensitive and/or complex subjects clearly and persuasively in written and oral form.
• Excellent judgment and high integrity to ensure the appropriate handling of highly sensitive and confidential information regarding university staff and assets.
• Proven ability to operate effectively under pressure.
• Ability to work closely with senior managers and executives.

Why Stanford is for You

Imagine a world without search engines or social platforms. Consider lives saved through first-ever organ transplants and research to cure illnesses. Stanford University has revolutionized the way we live and enrich the world. Supporting this mission is our diverse and dedicated 17,000 staff. We seek talent driven to impact the future of our legacy. Our culture and unique perks empower you with:

• Freedom to grow. We offer career development programs, tuition reimbursement, or audit a course. Join a TedTalk, film screening, or listen to a renowned author or global leader speak.
• A caring culture. We provide superb retirement plans, generous time-off, and family care resources.
• A healthier you. Climb our rock wall or choose from hundreds of health or fitness classes at our world-class exercise facilities. We also provide excellent health care benefits.
• Discovery and fun. Stroll through historic sculptures, trails, and museums.
• Enviable resources. Enjoy free commuter programs, ridesharing incentives, discounts and more.

The expected pay range for this position is $256,806 to $350,000 per annum.

Stanford University provides pay ranges representing its good faith estimate of what the university reasonably expects to pay for a position. The pay offered to a selected candidate will be determined based on factors such as (but not limited to) the scope and responsibilities of the position, the qualifications of the selected candidate, departmental budget availability, internal equity, geographic location, and external market pay for comparable jobs.

At Stanford University, base pay represents only one aspect of the comprehensive rewards package. The Cardinal at Work website ) provides detailed information on Stanford's extensive range of benefits and rewards offered to employees. Specifics about the rewards package for this position may be discussed during the hiring process.

The job duties listed are typical examples of work performed by positions in this job classification and are not designed to contain or be interpreted as a comprehensive inventory of all duties, tasks, and responsibilities. Specific duties and responsibilities may vary depending on department or program needs without changing the general nature and scope of the job or level of responsibility. Employees may also perform other duties as assigned.

Consistent with its obligations under the law, the University will provide reasonable accommodations to applicants and employees with disabilities. Applicants requiring a reasonable accommodation for any part of the application or hiring process should contact Stanford University Human Resources by submitting a contact form.

Stanford is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or any other characteristic protected by law.