State University of New York (SUNY) Downstate Medical Center (SUNY DMC), the only academic medical center in Brooklyn, is located in the heart of one of our nation’s largest, most ethnically diverse, urban communities. The SUNY DMC serves a constituency of almost three million residents of Brooklyn and Staten Island. Located on a thirteen-acre urban Campus in the East Flatbush section of Brooklyn, SUNY DMC comprises the largest medical school in the state, a School of Graduate Studies, a College of Health Related Professions, a College of Nursing and a 376-bed University Hospital. Affiliated medical centers include Kings County Hospital center, one of the nations’ largest municipal hospitals, VA New York Harbor Healthcare System, Staten Island University Hospital, Maimonides Medical Center and Brookdale Hospital Medical Center.
The College of Medicine ranks seventh in the number of graduates now engaged in academic medicine. Its faculty has made major contributions to research for which they have received recognition, including the 1998 Nobel Prize as well as several Lasker Awards.
SUNY DMC has a mandate to train the next generation of physicians, nurses, public health and allied health professionals and researchers; to conduct clinical and basic research in the biomedical sciences and to serve the health care needs of our community.
The Senior Vice President and Chief Financial Officer will report directly to the Downstate President.
The SVP and CFO will work closely with:
- Chief Operating Officer
- Vice President for Administration & Chief of Staff
- Deans of all Colleges and Schools
- VP and Managing Director of University Hospital of Brooklyn
- Chief Financial Officer of University Hospital of Brooklyn
- Vice President for Human Resources
- Assistant Vice President for Procurement and Supply Chain Management
- VP for Legal Affairs and Managing Counsel
- Vice President for Compliance and Internal Audit
- Executive Director of the SUNY Downstate Foundation
The SVP and CFO will serve as the chief financial and business officer for the campus and as the principal liaison with the financial managers in SUNY, the Division of the Budget and the Office of the State Comptroller.
The SVP and CFO will be responsible for the overall financial management of all the Campus activities, including the annual development of the operating and capital budgets that support our educational and research programs, our administrative support services and our clinical enterprise, including the University Hospitals, our affiliations and the Clinical Practice Management Plan.
The SVP and CFO will work with the line mangers in each of these areas to ensure that sound budgeting and financial management practices are in place and that these operations are conducted in accordance with all applicable SUNY, State, GAAP, and other requirements. The SVP and CFO will be responsible for the management of the annual budget planning process for the institution and all its elements and for monitoring performance against those plans.
The SVP and CFO’s specific responsibilities may include all or some of the following depending on the experience and skill set of the successful candidates.
- Develops and implements long and short-term financial strategies and programs in support of the Campus’s objectives, as well as oversee long range financial planning and forecasting.
- Organizes, interprets and presents relevant financial data (including identification of significant success/problem indicators) to the President and senior management.
- Directs the review, analysis and interpretation of all financial and budget reports. It is expected that the SVP and CFO will have responsibility for a full range of internal and external financial Analyses.
- Works closely with and assists all Campus entities with finance, Investment, Compliance and audit Committees and other committees as appropriate.
- Manages the Campus’ banking and investment relationships.
- Manages the Campus’ endowment along with its investment managers. Advises and makes recommendations to managers.
- In conjunction with the Compliance and Audit committee, will interact appropriately with the vice President for compliance and audit Services.
- Further develops and maintains Campus internal controls and accounting operations, policies, practices and systems.
- Manages the departments of Purchasing, Central Receiving, Disbursements (Payroll and Accounts Payable), Finance, General accounting (Endowment Accounting). Budgets, Financial Systems and Bursar.
- Oversees, coordinates and guides financial staff at University Hospital.