Apply for Job Job ID371863 LocationTwin Cities Job FamilyAcademic Full/Part TimeFull-Time Regular/TemporaryRegular Job Code9302 Employee ClassAcad Prof and Admin Add to Favorite Jobs Email this Job About the Job ROLE OF THE VICE PRESIDENT AND CHIEF BUDGET OFFICER The Vice President and Chief Budget Officer (VP/CBO), a critical executive position, serves as the principal architect and steward of the University's budget strategy and resource allocation model across five campuses, with an annual operating budget of approximately $5 billion. In this role, the VP/CBO is also a highly visible institutional leader who represents, explains, and communicates the University's budget strategy, process, and decisions to internal and external stakeholders, including faculty, staff, and students, the Board of Regents, state leaders, and the broader public. The VP/CBO serves as the strategic thought partner to the President, Executive Vice President for Finance and Operations, Executive Vice President and Provost, and other senior leaders, and is expected to bring judgment, candor, and creativity to complex decisions that balance academic excellence, affordability, compensation competitiveness, and long-term financial health. This role requires a dynamic leader capable of navigating a complex, distributed, and highly collaborative environment, and translating strategic vision into multi-year operational plans. In addition to technical and strategic leadership, the VP/CBO plays a central role as the University's authoritative budget educator and communicator. This includes serving as a trusted resource to faculty, staff, and shared governance bodies, ensuring that budget decisions and tradeoffs are clearly articulated, and representing the University's budget priorities credibly and transparently to state policymakers and external audiences. The ability to communicate complex budget information with clarity, nuance, and integrity is an essential dimension of this role. Executive Responsibilities The VP/CBO is responsible for the comprehensive planning, analysis, execution, and oversight of the University's operating budget. Key areas of focus include: Strategic Financial Leadership Architect and govern the University's comprehensive budget model, advising executive leadership on resource allocation, financial policy, and long-term fiscal sustainability. Drive continuous improvement in financial planning processes and lead the identification and practical implementation of new financial strategies to optimize resource deployment. Consult with the Board of Regents, executive leadership, Deans, and governing bodies to ensure budget principles and the President's recommended annual operating budget reflect institutional priorities. Develop and maintain Board and administrative policies related to budget management. Direct the preparation and articulation of the University's external operating budget requests, serving as the primary operating budget liaison to the State of Minnesota. Consult on the planning and execution of the annual capital improvement budget to incorporate relevant impacts into development of the annual operating budget. Consult on the development and execution of capital financing strategies and provide support to the issuance of University debt. Serve as a member of the Executive Budget Committee with the Executive Vice Presidents of the University to lead all University units through a robust annual operating budget development process culminating in detailed recommendations to the University President on all components of the annual budget. Collaborate with the Vice President of Finance / Assistant CFO and the University Chief Investment Officer to develop institutional financial strategies and exercise oversight of University financial assets. Budget Execution and Oversight Lead the development, preparation, and presentation of all internal and external operating budget materials, ensuring clarity, transparency, and strategic alignment. Oversee institution-level financial forecasting, analysis, and reporting activities, providing actionable intelligence to manage University resources effectively. Work with the Chief Financial Managers of all five campuses and administrative units to develop, deliver, and implement the University's annual operating budget. Partner with the Vice President of Finance / Assistant CFO to ensure rigorous internal controls and coordinate interfaces with the Controller's office, HR/Payroll, and Benefits and Student Finance, and others to safeguard data integrity and compliance. In conjunction with the Institutional Data and Research team, direct the compilation of required statistical data for management and financial reporting across all five campuses and administrative units. Identify programmatic and budgetary issues and solution options affecting the University of Minnesota and individual academic and support units. Work with the Auxiliary units and the Internal Sales Office to understand the financial status of these organizations, including their rate development status and levels of rate subsidies; determine where there are problems or issues that senior leadership should be aware of and options for solving those problems. Oversight of distributions from the institutional income reserve, Enterprise Assessment distributions, centrally held investment pools, balance reviews, fiscal pages, statutorily required reports to the State of Minnesota, the Administrative Overhead Report, the PeopleSoft system budget entry module, and responses to ad hoc financial questions from University and external constituents. Provide oversight of institution-level fees and the fee development process for all campuses and administrative units. Manage the University's complex fringe benefit rate process, including coordinating the development and submission of rates to the cognizant federal agency, evaluating and recommending benefit modifications, and overseeing allocations from internal administration pools. Train internal and external audiences on the University's budget, the budget process, and the budget model used for decision-making. Present, explain, and demystify the University's budget, budget process, and budget model for internal and external audiences, translating complex financial structures into clear, accessible information that fosters understanding, trust, and accountability among stakeholders. Talent Management Provide leadership and mentorship to the University Budget Office staff, fostering a culture of excellence, development, and high performance, and ensuring robust talent retention strategies are in place. Grow and develop the University Budget Office staff, emphasizing strong analytical and forecasting skills. Partner with the Vice President of Finance / Assistant CFO to provide dotted-line leadership and mentorship to the Chief Financial Managers of all five campuses and administrative units, fostering a culture of trust and excellence in financial management. Qualifications While no one candidate will embody every quality, the successful candidate will bring many of... For full info follow application link. The University recognizes and values the importance of diversity and inclusion in enriching the employment experience of its employees and in supporting the academic mission. The University is committed to attracting and retaining employees with varying identities and backgrounds. The University of Minnesota provides equal access to and opportunity in its programs, facilities, and employment without regard to race, color, creed, religion, national origin, gender, age, marital status, disability, public assistance status, veteran status, sexual orientation, gender identity, or gender expression. To learn more about diversity at the U: http://diversity.umn.edu.
