CFO Position Profile

• Earn and maintain the trust of the employees and the Board.
• Act in the best interests of the entire University, contributing to shared goals and collaborative decision-making across divisions.
• Serve as Treasurer for the Olivet Foundation and as a credible liaison to the Board of Trustees’ Business and Finance Committee, contributing to annual board reports as assigned by the EVP.
• Provide assurance of multi-year forecasting and long-range sustainability aligned with institutional goals.
• Balance the annual operating budget with appropriate margin and lead scheduled financial monitoring (March, May, August, January).
• Oversee pricing strategy to balance affordability and net revenue growth in collaboration with the EVP and Enrollment Management.
• Lead workforce compensation strategy and monitoring.
• Oversee cost containment efforts, cash-flow management, contract approvals, and major financial commitments requiring legal review.
• Guide major recurring annual processes including audits and Title IV funds, benefit and property/liability insurance renewals, investment committee work, and seasonal enrollment-revenue reviews.
• Oversee administrative service functions including food service contract, bookstore, post office and external service contractors.

The new CFO must provide leadership in addressing these institutional opportunities:

Provide Strategic and Risk Management Leadership The CFO must own enterprise risk management, proactively forecasting the unintended consequences of institutional plans and presenting risks to the executive committee. Because higher education operates on four-year enrollment cycles, the CFO must model the long-term impacts of current decisions.

Balance Budgets and Drive Revenue Working closely with the EVP and Enrollment Management, the CFO will oversee pricing strategies to balance affordability with net revenue growth.

Serve as an Independent Advocate The CFO must be a persuasive advocate who goes beyond box-checking compliance. The ideal candidate will have the “intestinal fortitude” to push back on plans with inadequate risk mitigation and tell leadership hard truths when necessary. While maintaining an independent mind, the CFO must remain a collaborative team player dedicated to the university’s shared goals.

Professional Qualifications and Attributes The ideal candidate will be a fiscally minded, analytical leader with a proven record of progressive leadership. The college seeks a transparent, proactive leader with enthusiasm for the work ahead.

Experience

• A CPA is required, and a Master’s degree in a related field is preferred.
• Higher education experience is strongly preferred; however, dynamic leaders from the corporate sector with enterprise risk management expertise will be considered (with external consultant support provided to accelerate sector learning).
• Experience with investment portfolios, foundation stewardship, and regulatory compliance (such as USDA loans).

Leadership/Cultural Competencies

• A non-anxious presence who creates peace and order during conflict or financial challenges.
• A collaborator and listener who can translate highly technical financial information to non-specialists.
• A team builder with a social justice and equity-oriented approach, viewing the role as a mission with an impact beyond just money.

Commitment

• Must demonstrate a lifestyle in agreement with the ONU Statement of Mission, Faith, and Lifestyle Covenant. Because ONU is serious about its identity as a “denominational University in the Wesleyan tradition,” senior leaders bear witness to that in how they influence our culture, not just do tasks. Applicants must be able to articulate the relevance of personal and institutional Christian identity to the work, and demonstrate personal belief not merely support of the institution’s standards. Candidates must also be in harmony with doctrines of the Church of the Nazarene.
• This is a full-time onsite in-person 12-month opportunity with a standard Monday-Friday work week with limited travel responsibilities.

Fiscal Acumen

• More of a finance than an accounting posture; an investment-oriented mindset rather than merely a defender of the Treasury.
• Strong modeling capabilities and experience with cost accounting and strategic pricing under enrollment pressure.
• Comfortable exploring alternative revenue streams beyond traditional tuition and government funding.

Inquiries, nominations and applications for the next Chief Financial Officer of Olivet Nazarene University will be considered in complete confidence.

The search is expected to move quickly, though the target hire date remains flexible to ensure the university secures the right candidate. Information gathered from search committee listening sessions has directly informed this profile.

The starting compensation for this opportunity is $147,000 in accordance with the background and experience of the selected candidate. Compensation is supplemented by a benefits package that includes health, dental, vision, retirement, life insurance, and tuition remission.

Olivet is an unapologetic denominational university in the Wesleyan tradition, deeply aligned with the Church of the Nazarene. Understanding and embracing this core identity is critical for the institution and its leadership.

ONU is committed to fostering an environment where the strongest scholarship and deepest piety are entirely compatible. Through a culture of discipleship and shared virtue, ONU asks all employees to bear witness to their saving faith and adhere to a lifestyle covenant, which includes maintaining an alcohol-free campus to positively influence students.

ONU fosters a vibrant environment where academic excellence and Christian purpose empower students to thrive. The university provides a comprehensive education through the College of Arts & Sciences, School of Education, McGraw School of Business, Walker School of STEM, School of Nursing and the School of Theology & Christian Ministry. Education at Olivet extends into over 20 graduate and doctoral degrees, including a flagship EdD in Ethical Leadership. ONU is also adapting to modern workforce needs through online programs, micro-credentials and the Early Scholars dual-enrollment program, which recently enrolled over 150 students.

Learn More About Academics

Olivet Nazarene University is deeply committed to prioritizing student well-being and affordability. Recognizing a growing “misery gap” for middle-class families, ONU awards over $110 million in financial aid annually. Through the Zero Tuition program, the university covers the full cost of tuition for qualified Illinois students with an adjusted gross income of $60,000 or less.

The Student Financial Services team actively advocates for students facing hardships, while the university’s “Debt Free in Five” initiative provides graduating seniors with a clear map to eliminate their educational debt within five years of graduation.

Furthermore, ONU supports diverse populations through Multiethnic Student Services, achieving a remarkable 59% retention rate for Black students and a 75% retention rate for Hispanic students over the past three years. For mental health support, ONU provides robust counseling services with no session limits, ensuring students have access to the care they need.

The ONU Tigers athletic program prepares student-athletes for success in the classroom and in competition. With 25% of the traditional undergraduate population participating in athletics, athletes retain at a 75% rate, which is 9% higher than the NAIA average. The Prosperity Plan aims to responsibly expand athletic offerings to include emerging sports like Esports, Competitive Cheer and Women’s Flag Football, alongside diverse club sports.

Learn More About Athletics

For the fiscal year, Olivet Nazarene University manages an $85 million annual budget. In the last five years, the university’s Consolidated Net Assets have increased by $47.5 million (31%), and long-term debt has been reduced by a record $22 million. The university maintains a solid Financial Responsibility Score of 2.6 out of 3.0 from the US Department of Education.

Despite this growth in net assets, inflation and healthcare costs have depleted short-term operational cash reserves, creating budget stress. To address this, leadership has launched the Prosperity Plan, identifying a $7 million “prosperity gap”. This plan focuses on four high-ROI strategies: scaling online program recruitment, optimizing graduate and community housing, improving traditional recruitment yields and modernizing athletic financial aid. To fund these initiatives, the university is leveraging investment gains from the board-controlled Legacy Fund.

At ONU, shared governance and strategic alignment are achieved through the PAVER priorities (Persistence, Affordability, Virtue, Efficient Stewardship, Recruitment). The CFO will report to the Executive Vice President and serve as a credible liaison to the Board of Trustees’ Business and Finance Committee. The Board emphasizes the need for the CFO to have a direct voice to the executive committee for enterprise risk management, ensuring independent financial oversight. The CFO will collaborate across divisions, including working alongside the newly appointed Executive Vice President, Dr. Cheri Betz, who brings two decades of experience in graduate and continuing studies.

The ONU Foundation is pivotal in advancing the university’s mission. Over the past five years, the Foundation’s assets have grown by $37 million (72%) and the Legacy Fund has grown by $9.5 million (33%). The recent Strength & Hope Campaign is projected to achieve record-breaking success in 2027 with $86 million in pledges and gifts against an original goal of $64 million. The CFO will serve as the Treasurer for the Olivet Foundation, managing strategic scenarios for the endowment and USDA loan paydown strategies.

Learn More About the Olivet Foundation