Loyola University Chicago (Loyola) invites nominations and applications for its next Senior Vice President for Finance and Chief Financial Officer (CFO). The CFO will be joining a dynamic new President, Jo Ann Rooney, as she builds her leadership team and launches an ambitious agenda to continue the University’s upward trajectory as a trailblazer in Jesuit education. Founded in 1870 as St. Ignatius College by the Society of Jesus, Loyola is Chicago’s Jesuit University and one of the largest Catholic universities in the country. In the last decade-plus, Loyola has experienced tremendous growth in virtually every dimension, including undergraduate enrollments, student success measures, research activity, physical footprint, and academic programs. Motivated by its Jesuit commitment to social justice and transformative education, Loyola has earned recognition in the national higher education landscape for its robust, mission-centered undergraduate experience, array of quality graduate and professional programs, expanding research initiatives, and engagement with the Chicago community. The next CFO will help build on this past success and continue to move Loyola forward, contributing to a more just and humane world in the Catholic and Jesuit tradition.
Loyola enjoys a strong financial position with total assets of $2.1 billion including $1.4 billion in net assets and operating expenses of $529 million in FY2016. Enrollments are strong and growing. The Chicagoland and Rome campuses are in great condition, with new and refurbished buildings and excellent financial systems due to Loyola’s extensive investments in recent years. But like most private institutions, Loyola is highly tuition-dependent and increasingly concerned about the rising costs of education. It has high expectations for academic quality, access, state-of-the-art facilities, technology adoption, and student services. The next CFO will be responsible for ensuring that the University’s short-term and long-term financial condition remains sound and will help the University community balance the need to grow enrollments, research, and build new revenue streams while maintaining high academic quality and the Jesuit mission of social justice and access to education.
Today, Loyola enrolls more than 16,500 students across four campuses: Lake Shore (LSC), Water Tower (WTC), Health Sciences (HSC), and the John Felice Rome Center (JFRC) in Italy, and is home to 13 schools, colleges, and institutes: Quinlan School of Business, Marcella Niehoff School of Nursing, Stritch School of Medicine, College of Arts and Sciences, School of Communication, School of Continuing and Professional Studies, School of Education, School of Law, School of Social Work, Graduate School, Arrupe College of Loyola University Chicago, Institute of Environmental Sustainability (IES), and the Institute of Pastoral Studies (IPS). Loyola’s footprint beyond Chicago includes academic centers in Beijing, China, and Ho Chi Minh City, Vietnam; the Cuneo Mansion and Gardens in Vernon Hills, Illinois; and a Retreat and Ecology Campus in Woodstock, Illinois. The University offers more than 80 undergraduate majors and over 80 undergraduate minors, plus over 140 graduate and professional degree programs.
Recognizing Loyola’s excellence, U.S. News and World Report ranks Loyola consistently among the top “national universities” (#99 in the 2016 edition). Loyola is also among a select group of universities recognized for community service and engagement by prestigious national organizations like the Carnegie Foundation and the Corporation for National and Community Service. Loyola is also one of only eight percent of all American colleges and universities to have a Phi Beta Kappa honor society chapter. And, in 2016, for the second time in three years, Loyola University Chicago was named one of the greenest colleges in America by the Sierra Club at #7.
The successful candidate will be a seasoned professional with strong financial acumen and a proven ability to lead and develop staff in a dynamic environment, preferably in a major research university with a health sciences center. S/he will be an analytical, creative leader familiar with the challenges facing private research universities, committed to the Catholic, Jesuit mission, and ready to bring and generate new ideas and thinking on how to address the challenges and opportunities associated with a complex university. The SVP/CFO will face the following opportunities and challenges: 1) Ensure the University’s future financial strength and stability while balancing the increasing costs of higher education and affordability and access, 2) Help create a culture that supports strategic investment, innovative thinking, and calculated risk-taking, 3) Create and communicate a holistic financial model and planning process for the University, and 4) Build, develop, inspire, and motivate a team of finance professionals as partners in the University’s strategic goals.
Loyola University Chicago has retained Isaacson, Miller, a national executive search firm, to assist in this search. Screening of complete applications will begin immediately and continue until the completion of the search process. For more details, including the full position profile and to submit inquiries, nominations, referrals, and applications, please see the Isaacson, Miller website for the search: www.imsearch.com/6209. Electronic submission of materials is required.
Julie Filizetti and Courtney Wilk
1000 Sansome Street, Suite 300
San Francisco, CA 94111