Vice President for Finance /CFO Northwestern Health Sciences University

Position Specification

September, 2017

Prepared by:

Lucie Lapovsky

Lapovsky Consulting

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THE OPPORTUNITY

Northwestern Health Sciences University (“Northwestern Health”), a leader in natural

health care education, patient care and research for over 75 years located in Bloomington,

Minnesota, a suburb of the Twin Cities, is a not-for-profit institution accredited by the

Higher Learning Commission with a budget of $25 million. The University seeks a

working leader for its next Vice President for Finance/Chief Financial Officer who is

strategic, entrepreneurial, analytical, creative, a measured risk-taker and an outstanding

financial expert with experience in higher education.

Reporting to the President and CEO, the VP for Finance /CFO is a member of the senior

leadership team and is responsible for developing the University’s financial strategy and

partnering with the president and other senior colleagues in developing and supporting

new programs, partnerships and other initiatives. The VP’s portfolio includes financial

aid, student accounts, facilities, purchasing, bookstore and copy center as well as

accounting, budgeting, reporting and financial analysis services to the rest of the

University. The VP serves on key leadership committees, is the University’s Treasurer

and staffs the Board of Trustees’ Finance, Facilities and Audit Committee.

THE UNIVERSITY

From its origins in 1941 as the Northwestern College of Chiropractic, one of the first

chiropractic institutions to promote research, a scientific curriculum and evidence-based

practice, today’s Northwestern Health has a broad focus on complementary and

integrative medicine, health and wellness. As the demand for graduates in chiropractic,

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acupuncture, nutrition, traditional Chinese medicine and massage therapy continues to

grow, Northwestern Health is uniquely positioned to offer training in a range of patient

care options that are natural, evidence based, non-invasive and integrated with traditional

medicine. It is both a university and a healthcare company, enrolling [900] full-time

students and [6,000] continuing education students per year while also serving 30,000

patients in two on-site teaching clinics and two off-site free clinics. (Please see clinic

coverage at: http://www.startribune.com/northwestern-health-sciences-university-to-

open-veterans-support-center/329847331/ and http://www.startribune.com/business-

forum-this-on-site-clinic-is-saving-a-minnesota-manufacturer-big-money/408858845/.)

The early Northwestern prospered because of its rigorous academic program and the

quality of its students and faculty, providing a strong foundation for the chiropractic

profession in Minnesota and its region. In 1983, Northwestern moved to its current

location, a 25-acre campus in Bloomington, MN, just south of Minneapolis. The new

complex provided students with all the structure and amenities of a university, including

laboratories, classrooms, library, and public clinics. The new location also gave rise to

student organizations and support services.

After 50 years as a leader in chiropractic education, the College of Chiropractic became

the foundation for Northwestern Health Sciences University, incorporating the College of

Acupuncture and Chinese Medicine, the School of Massage Therapy and the College of

Undergraduate Health Sciences. The National Institutes of Health conferred important

recognition to Northwestern Health in 2005 with an R25 education grant to strengthen its

research and evidence-based curriculum. Northwestern Health was one of only four

complementary and alternative institutions of medicine to be so recognized.

In 2008, Northwestern Health built the Wolfe-Harris Center for Excellence, which houses

the Wolfe-Harris Center for Clinical Studies, the Greenawalt Library, and the

Northwestern Student, Alumni and Career Services Center. Renovations to the existing

building included new classrooms, videoconferencing, and the Center for Diagnostic

Imaging digital radiology lab for students.

To assist students with fulfilling prerequisites or completing a bachelor’s or associate’s

degree, the College of Undergraduate Health Sciences was created in 2011 to offer pre-

professional courses, including accelerated science courses and general education

courses. That year also saw the launch of the Post-Baccalaureate Pre-Health/Pre-

Med program for students interested in applying to medical school, dental school and

other health professional schools.

In 2015, the University consolidated programs in the School of Massage Therapy, the

College of Acupuncture and Chinese Medicine and the College of Undergraduate Health

Sciences into a single College to gain operational efficiencies and position itself for

growth in academic programming.

Today’s Northwestern Health course offerings range from certificate, associate and

baccalaureate degree programs in acupuncture, nutrition, Chinese medicine and massage

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therapy to the doctorate in chiropractic (DC). Northwestern Health is also now a

destination of choice for its Post-Baccalaureate Pre-Health Program (one of only a

handful in the Upper Midwest) and continuing education for chiropractors, acupuncturists

and massage therapists.

STUDENTS AND FACULTY

The University enrolls approximately 1,000 students across both degree and certificate

programs. Some 35 percent receive grant assistance from the University. While 95

percent of its students receive federal and state loan assistance, Northwestern Health has

a consistently low federal student default rate and a tuition discount rate of only 7

percent. Its 25-acre, non-residential campus in Bloomington, Minnesota is eight miles

from MSP Airport and ten miles from downtown Minneapolis. The University employs

140 full and part-time teaching, research and clinical faculty members. Seventy-eight

percent of all faculty members hold the terminal degree in their field. While

Northwestern Health does not confer tenure, most faculty members work on long-term

contracts. In addition to the students in its degree granting programs, the University

teaches more than 35,000 continuing education students.

Campus life, while non-residential, is robust, with some 53 student clubs and

organizations and an active, autonomous Student Senate that functions as a liaison

between the student body and the community, endeavoring continually to improve the

student experience.

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THE PRESIDENT

Christopher Cassirer, ScD, MPH began his appointment as Northwestern Health’s

seventh president in June 2014. Previously, he served as Dean of the College of

Management and Business and the College of Arts and Sciences at National Louis

University. Dr. Cassirer’s experience in higher education and health care both as an

educator and in executive leadership roles is deep and accomplished. He brings a distinct

perspective to Northwestern Health, having previously served in both non-profit and for-

profit environments, and overseeing a broad array of liberal arts to professional programs

at every major degree level.

A first generation college graduate, President Cassirer holds a bachelor of arts from

Rutgers College, Rutgers University, a master of public health from the Yale University

School of Public Health and a doctor of science from The Johns Hopkins Bloomberg

School of Public Health, where he also completed a postdoctoral fellowship in research.

After beginning his teaching and research career at Johns Hopkins, Dr. Cassirer’s work in

medical malpractice and patient safety gained national recognition, and he was appointed

associate professor and endowed chair of health care management at the Carlson School

of Management, University of Minnesota. Following this appointment, he served as an

associate professor and director of experiential learning in the master of health

administration program at The George Washington University.

After gaining insight and experience within traditional higher education environments,

Dr. Cassirer joined Capella University, as faculty director and dean of the School of

Human Services until his appointment in May of 2008 as President of Capella’s then

$500 million enterprise. With experience throughout his career leading colleges and

universities in complex and challenging times, Dr. Cassirer is well equipped to lead

Northwestern Health Sciences University to its next phase of growth into integrated

health and wellness, inter-professional education and inter-disciplinary research and

patient care. Over the past year, he has been assembling a cabinet that mirrors the faculty

culture of Northwestern Health: collaborative, collegial, healing, interdisciplinary,

entrepreneurial and with a common dedication to the best interests of students, patients

and the University.

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FINANCE AND FACILITIES

Northwestern has a FY 2018 operating budget of $25.7 million and $43 million in net

assets. The operating budget is more than 75% supported by tuition and fee revenue with

the remaining funds coming from other sources including clinic and lab fees as well as

retail sales and gifts and grants. The University has $11 million in quasi endowment. The

FY 2018 operating budget will have a small deficit which is being incurred to make

investments in the University to include the development of a doctorate in acupuncture

and oriental medicine, the continued installation of a new ERP system and an investment

in institutional branding.

Tuitions vary by academic program with the annual tuition for the Chiropractor program,

the University’s largest program, at $11,075 per trimester. All other programs charge

tuition by the credit hour and most charge $416 per credit hour. The University can be

characterized as a low tuition/low aid institution; its discount rate is only 7%.

The University’s primary facility is a 300,000 square foot building in Bloomington with

offices, classrooms, labs and clinic. There are some additional clinic spaces in the area.

The FY 2018 capital budget includes investments to minimize deferred maintenance,

increase classroom capacity and improve the technology infrastructure. Classroom space

is in high demand at most times and continued enrollment growth of in-person classes

will likely require additional space.

THE CAMPUS AND THE COMMUNITY

The University occupies 300,000 square feet on a park-like 25-acre campus in

Bloomington, Minnesota, the Minneapolis suburb that is also home to the Mall of

America, the Water Park of America and the Minnesota Valley National Wildlife Refuge,

as well as the gateway to the Twin Cities, Minneapolis-St. Paul International Airport

(MSP). The campus, located in a quiet residential neighborhood among single-family

homes, apartments and shopping areas, has little deferred maintenance. National Night

Out, neighborhood watch groups and an extremely low crime rate keep it a safe and

comfortable place to live and work.

The Twin Cities have more Fortune 500 companies per capita than any other U.S. city.

3M, Best Buy, Cargill, General Mills, Target, Travelers and UnitedHealth are among the

18 Fortune 100 headquarters in the region. From origins in the Twin Cities or elsewhere

in the state, each has revolutionized its industry in internationally significant ways and

created a local culture of visionary and civically progressive entrepreneurship that is very

consistent with Northwestern Health’s stated values (see below).

The Georgetown Center on Education and the Workforce recently named the Twin Cities

the top destination for young job seekers. The Twin Cities are also ranked as the most

literate metropolitan area in America. Their venues for fine and performing arts are

unsurpassed outside of New York and Washington, DC. These range from the Walker

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Art Center (contemporary art) and the Minneapolis Institute of Arts (with its

encyclopedic collection) to the Guthrie Theater and the Ordway Center for the

Performing Arts (host to The Saint Paul Chamber Orchestra, The Minnesota Opera and

The Schubert Club) and the new Cowles Center for Dance. The Twin Cities also support

popular NBA, WNBA, NFL, NHL, MLS, Major League Baseball and college teams.

National surveys continually corroborate the high quality of life in the Twin Cities.

Forbes named MSP “The Most Relaxed Cities in America”; USA Today named them

“The Fittest Cities in America.” The Twin Cities are unusual in their public

transportation infrastructure and ease of commuting. More than four percent of Twin

Cities’ residents bike to work year-round. Indeed, according to Bicycling magazine, the

Twin Cities are the most bike-friendly metro area in the country.

Northwestern Health is playing a key supportive role in Minnesota’s bid to host Expo

2023, the 90-day world’s fair that, if landed, will attract 10-15 million visitors to the

state. (Minnesota is one of three finalists.) Expo 2023 will explore what “Wellness and

Well Being for All” means to every person in every community — around the planet.

The Expo would convene nations, civic groups, companies and others to host pavilions

and exhibits highlighting advances in social, technological and scientific areas of global

significance, permitting Northwestern Health to promote its health and wellness

programs to a vast international audience.

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MISSION, VISION, VALUES & PROMISES STATEMENT (2016)

Our Mission

Northwestern Health Sciences University prepares the next generation of health care

professionals to deliver and advance healthcare.

Our Vision

We are a premier health sciences university creating a healthier world. Live, Learn, Serve

Healthy!

Our Values Accountability, Collaboration, Excellence, Innovation, Respect and Service

Our Promises

We cultivate caring and are by nature invested in the personal success and well-being

of others.

We listen deeply and with open minds to fully appreciate other perspectives.

We look beyond symptoms to understand cause, then co-create solutions.

We embody integrity and innovation; blending mastery with forward thinking.

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We practice intellectual humility and continuously engage in learning.

We bridge the worlds of seen and unseen, of knowledge and action, of past

and future.

We foster physical, spiritual, and emotional health in ourselves and others.

We bring generosity of spirit to our work and take joy in what we do together.

We are united in purpose; earning one another’s trust and respectful of our

differences.

THE POSITION

Reporting to the President & CEO, the VP for Finance /CFO is a working leader who is a

member of the senior leadership team and is responsible for developing the University’s

financial strategy and supporting the University’s overall strategy. The new VP must be

able to balance strategic leadership with day-to-day hands on work. The VP’s portfolio

includes financial aid, student accounts, facilities, purchasing, bookstore and copy center

as well as accounting, budgeting, reporting and financial analysis services to the rest of

the University.

It is also the responsibility of the CFO to manage the institution’s debt, working capital

and long and short term investment strategies, serving as the liaison with the University’s

banks and outside investment managers and advisors. The position is responsible for the

development and implementation of internal accounting policies; direction of annual

financial and compliance audits; preparation and filing of IRS tax forms, and other

related compliance requirements. The position manages the University’s commercial and

professional liability insurance program

The VP serves on key leadership committees, is the University’s Treasurer and staffs the

Board of Trustees’ Finance, Facilities and Audit Committee.

This is a working leadership position, as well as proficiency in staff management and

development, accounting processes, financial analysis, budgeting and forecasting. The

CFO serves as a member of the Senior Leadership Team and other key leadership

committees and is a key advisor to the President and CEO and other senior leaders.

OPPORTUNITIES AND CHALLENGES

Northwestern Health Sciences University presents several exciting opportunities and

challenges for the next Vice President for Finance /CFO. The new Vice President will find

a University that has recently turned around financially and is now moving to solid

financial footing. It is a University that is aware of the need for continued improvements

and new strategies to grow and enhance its competitive position. It is a University that has

enormous opportunities in the integrative health space and needs to decide which roads to

take.

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Partner with the President to Advise on and Model the Financial Implications of

Various Strategic Initiatives

The University is looking to the future to develop new programs and initiatives to further

its financial stability and its impact on integrative health care. The new VP must be able

to work alongside the President and the senior team to assess the ROI on current and

various new initiatives and opportunities. The new VP must be able to model the

financial impacts of various initiatives on the University’s bottom line. S/he must be able

to advise on the best structure in which to house the new initiatives whether they should

be as a division of the University or as a subsidiary or as an LLC or as some other

structure.

Develop Opportunities to Increase Revenue in Other Areas of the University

The new Vice President needs to have an entrepreneurial spirit. S/he needs to provide the

appropriate incentives and infrastructure for faculty and staff to develop new programs

which can provide the University with additional revenue. The VP also needs to be

aware of opportunities and partnerships to increase revenue consistent with the

Universities mission.

Partner with the Clinics to Maximize Clinic Revenues

The new VP needs to be a strategic partner with the VP of Network Development &

Clinic Administration to develop the best structure for operating the University’s clinics

and for charging for their services. The VP needs to understand the trade-offs between

maximizing revenues, supporting the teaching and research missions of the University,

providing service to the community and competing with alums.

Maintain Efficient, Cost Effective Operation in the Finance area

The new Vice President should review all operations and systems in his/her portfolio to

ensure that they are efficient and effective and appropriately taking advantage of

technological solutions. The new vice president needs to ensure that there are

appropriate policies in place to operate efficiently and fairly and that the policies and

processes are not more cumbersome than necessary and are as paperless as possible.

Gain Trust and Communicate Effectively with the Campus about Finances

The new VP must be able to gain the trust of the campus and communicate clearly and

effectively with all constituencies about finance and facility issues. S/he must be able to

educate the campus about the financial implications of various alternative strategies in a

clear and transparent manner which promotes understanding and support for the

University’s directions.

Provide Leadership to the Business Affairs Division

The next Vice President for Finance /CFO must have excellent management skills

to lead the areas that are in his/her division. The Vice President needs to mentor and

develop the staff, inspire them to do their best work and ensure that they become a high

performing team. The Vice President needs to have a collegial style and be able to

effectively communicate with all members of the division. S/he needs to be able to

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ensure that a high level of customer service is sustained, while reviewing the

division’s policies and procedures.

Continue to Improve the University’s Financial System

The new VP must be able to lead the finance division in the full implementation of the

Aggesso ERP system so that it can appropriately meet the needs of all campus

constituents. The VP must also be able to review and improve the chart of accounts to

manage the University’s restricted funds to better serve the University.

QUALITIES AND QUALIFICATIONS

The successful candidate will demonstrate unquestioned integrity, be an outstanding

communicator, and possess strong and effective interpersonal skills that engender trust

and cultivate collaboration. S/he will be an exceptional financial and administrative

leader with superior analytical and management skills as well as experience in the use of

financial management systems and a willingness to explore new opportunities for using

technology. As this is a working leadership position, the new VP will be able to balance

strategic leadership with day to day hands on work The successful candidate will be

entrepreneurial in spirit, willing to think outside the box and take prudent risks. The new

vice president will have an appreciation for the University’s close ties to its region

coupled with experience creating partnerships with business and/or nonprofit

organizations. S/he will understand the higher education landscape and the challenges

that higher education is currently facing including an understanding of the sustainability

issues that they are facing. The successful candidate will have the fortitude to make

difficult choices when necessary and the ability to convey decisions with clarity.

The new Vice President will be well versed in higher education finance and will be

knowledgeable about the critical areas in the portfolio. S/he will have at least ten years of

progressively increasing experience managing a staff with diverse responsibilities and

will have both higher education and business or health care experience. A bachelor’s

degree is required and a CPA, MBA or other advanced degree is preferred. For

additional information about the University, please go to http://www.nwhealth.edu

NOMINATION AND APPLICATION PROCESS

Nominations and applications are invited for this position. Review of applications will

begin immediately and candidate material received by November 16, 2017 will be

assured full consideration although recruitment will continue until an appointment is

announced. Applications (including a cover letter which addresses the opportunities and

challenges, a resume and the names and contact information of four references) must be

uploaded to: http://lapovsky.hiringthing.com. Lapovsky Consulting is assisting

Northwestern Health Sciences University in this search. For nominations, questions, or

additional information, please contact:

Lucie Lapovsky

nwhealth@lapovsky.com

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Northwestern Health Sciences University is an Equal Opportunity Employer and does not

discriminate on the basis of any legally protected category including disability and

protected veteran status.