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Versatile Financial Executive
03.540.S.11

A versatile financial professional with more than 20 years of progressively increasing responsibilities in managing budgeting, banking, audits, investments, retirement programs and accounting for universities and a biomedical research institute. Oversaw budgets of up to $360 million and managed assets valued at $34 million.

Expertise includes outstanding skills in strategic planning, finance, investments, analysis and optimization of human resources against growth budgets.

PROFESSIONAL EXPERIENCE

Los Angeles Biomedical Research Institute, Torrance, California                              2002-2011

Vice President, Finance/Chief Financial Officer

Managed the finances and accounting operations of a $75 million not-for-profit biomedical research institute seeking cures for diseases and commercializing new approaches to medicine. Functions included budgeting, accounting, internal and external audits, post-award accounting, and investments. Periodically managed procurement, human resources, IT and capital projects. Oversaw the Accounting and Sponsored Projects Accounting Departments with two managers and a staff of 18.

  • Created and staffed the institute’s first audit committee, which oversaw the selection of the auditor; reviewed and accepted the audits; and monitored corrective actions called out in the management letters. 

  • Organized the first investment committee, which developed guidelines as well as selected a professional advisor and monitored her performance.

  • Established a retirement oversight committee, which monitored the financial performance of investment options open to 748 full-time employees.

  • Engaged consultants and an attorney to ensure that employee retirement plans were ERISA and IRS compliant.

  • Created a new 457(b) retirement plan that enhanced the recruitment and retention of research scientists.  

  • Initiated the change of the organization’s financial software using a cost-effective solution.

  • Created a department that managed accounting for 400 sponsored projects, which represented 88% of all Institute revenues. This prevented project overruns, saving $1 million to date.

  • Responded to all external agency financial audits, resulting in no major comments.

  • Acted as Project Manager for the construction of a 14,000-square-foot, $7.4 million wet lab building.

  • Developed a financial model for budgeting and monitoring fringe benefit costs and recoveries.

  • Created a model for controlling the Institute’s $13 million administrative expenditures budget.

  • Delegated financial responsibility to various departments and individuals for their associated budget allocations, which maximized budget control.

  • Established detailed forecasting, budgeting and monitoring of key revenue variables, including indirect cost recovery, patent income, investment income and unrestricted giving.

  • Implemented a process that recovered $800,000 annually of unallocated administrative expenses.

University of Southern California, Los Angeles, California                                         1976-2001

Associate Dean of Administration, School of Engineering (1997-2001)

Managed planning, finances, personnel, facilities, research administration and internal communications for the School of Engineering with an enrollment of 3,200 students, 227 faculty and a budget of $130 million, as part of a private university with 35,000 total student enrollment. 

  • Developed the annual three-year financial forecast, linked to the school’s academic and enrollment plans, generating $1.5 million additional incremental revenue.

  • Established and monitored annual detailed budgets of the school’s unrestricted $85 million funds.

  • Managed personnel administration of 195 staff, including implementation of all university policies and procedures, development of unique school policies, resolution of staff grievances, separation agreements, and faculty recruitment/retention offers.

  • Conducted the first-ever annual facilities condition and utilization survey for the entire school, representing 278,000 square feet. The data were stored in a space management reference database and were used to identify needed renovations, optimize utilization and plan major new construction.

  • Reviewed and approved $95 million in annual research proposals.

  • Monitored $40 million of grant expenditures annually.

  • Oversaw the school’s machine shop, which included upgrading the equipment, controlling loss and ensuring that the team worked productively.

  • Acted as the first point of contact with the university for school issues, concerning finance, personnel, legal questions and facilities.  

Associate Vice President, Health Affairs (1988-1997)

Managed the planning, finances, staff and facilities for the departments of nursing, occupational therapy, physical therapy, the university vivaria, the Norris library and the vice president’s office on the Health Science campus with an enrollment of 1,500 students, 50 faculty, 100 staff and a budget of $25 million.

  • Created a financial model that identified key revenue needs, leading to the creation of professional doctorate programs in occupational and physical therapy as well as federally funded research grants.

  • Directed the renovation and financing of a multi-disciplinary, 120,000-square-foot building, housing academic programs.

  • Negotiated with the Los Angeles County Department of Health Services for the implementation and annual funding of a $70 million annual contract for physicians services at the LAC+USC medical center.

  • Established and managed a development office for all the Health Affairs Departments.

Associate Vice President, Financial Analysis, Central Administration (1986-1988)
Executive Director, Budget Administration, Central Administration (1983-1986)

Monitored, controlled and closed the unrestricted $400 million university budget as well as the development of the federal indirect cost and fringe benefit rates with a staff of 11. Coordinated all external audits throughout the university.

  • Implemented an automated online report software that supported the startup of revenue center financial management. Oversaw the training of 100 financial administrators using the new software.

  • Prepared the monthly assessment of the annual budget performance, center by center, identifying potential discrepancies. In concert with deans and administrator directors, developed corrective actions.

  • Secured the distributed input of approved detailed budgets into the accounting system.

  • Directed the year-end closing and financial statement preparation for unrestricted funds.

  • Managed the preparation of the federal indirect cost recovery and the federal fringe benefit studies, leading to a 25% increase in the research recovery rate.

  • Managed all external financial audits, resulting in no major audit findings.

Director, Budgeting and Fiscal Planning (1978-1983)
Assistant Budget Officer (1978)
Senior Budget Analyst (1976-1977)

Began career in the university’s budget office as an analyst and, through promotions, took over a major portion of the budget and fiscal planning function. With a staff of six professionals, prepared the university’s $360 million unrestricted budget. The budgeting process included working with 21 academic and administrative units.

EDUCATION

Stanford University, Palo Alto, California

Doctoral Candidate in School of Education Administration and Policy Analysis Program. Concentration in organization studies and finance of higher education.

Johns Hopkins University, Baltimore, Maryland

Bachelor of Arts, Liberal Arts. Dual concentration in economics and political science.

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