Cleveland Institute of Art - Vice President for Business Affairs and Chief Financial Officer (CFO) (Chicago)

Cleveland Institute of Art

Vice President for Business Affairs and Chief Financial Officer (CFO)

Academic Career & Executive Search is pleased to assist Cleveland Institute of Art in its search for a Vice President for Business Affairs and Chief Financial Officer (CFO).

For full consideration, please apply by September 5, 2025.

This is a compelling opportunity to join a nationally recognized college of art and design at a moment of institutional strength, creative momentum, and bold transformation. The Cleveland Institute of Art (CIA) seeks a dynamic and visionary leader to serve as its next Vice President for Business Affairs and Chief Financial Officer (CFO). The organization is supported by a proactive culture that continually looks ahead, embraces innovation, and strategically plans for long-term financial sustainability and growth. As a key member of the executive leadership team, the CFO will work closely with President Kathryn Heidemann to steward the College's financial future while shaping a reimagined business model rooted in innovation, sustainability, and student success.

CIA is entering an exciting new chapter, marked by the recent launch of its Interactive Media Lab, a 14,300-square-foot immersive technology hub that anchors CIA's presence in Cleveland's dynamic Midtown Collaboration Center. Paired with the College's ambitious $35 million Transformation Campaign (over $30 million raised to date), and guided by CIA's forward-looking Strategic Plan, this era is defined by investment in new programs, facilities, and cross-sector collaboration. As CIA grows its role as a creative engine for the region and nation, the CFO will lead financial strategy and operations with vision, empathy, and adaptability- balancing fiduciary responsibility with an openness to new ideas and unconventional solutions.

This highly visible and collaborative role calls for a strategic thinker who is fluent in the technical, relational, and human dimensions of financial leadership. CIA is committed to building a business model that supports long-term resilience, alternative revenue generation, and a deeply student-centered mission. The CFO will play an instrumental role in bringing that vision to life. The successful candidate is tech savvy, understands the need to make key strategic investments, and will continue to maintain the institution's culture of transparency and open communication.

Reporting to the President and CEO, the CFO provides strategic oversight of all financial operations, including the development and management of operating and capital budgets, long-term financial planning, and the strategic allocation of resources. This role leads financial reporting, accounting, tax compliance, investment strategy, and cash and debt management. The CFO also oversees financial systems, internal controls, regulatory compliance, audits, and legal and contract coordination. In close partnership with College leadership, the CFO designs and implements financing strategies that support capital projects, renovations, and institutional initiatives, ensuring CIA's financial health and alignment with its mission and strategic goals.

KEY RESPONSIBILITIES

• Develops and implements the appropriate financial systems that will allow budgeting, forecasting, analysis, decision-making and financial reporting in a complete and business-like fashion
• Oversees the development and management of short- and long-term budgets and forecasts to include goal and performance target setting for operations, capital and cash management along with the development of financial objectives, business plans, etc.
• Prepares and presents financial reports, prepared in accordance with GAAP, for the College Board of Directors and CIA management stakeholders
• Directs the preparation of all internal and external financial reports and all long-range financial planning materials
• Manages all financial regulatory processes and reporting as indicated by federal, state, and local level programs and policies
• Oversees process for responsible review and deployment of institutional contracts
• Liaises with external legal counsel on risk management matters
• Oversees financial audits, including financial statements and financial compliance (Uniform Guidance, Sponsored Programs, and others) audits
• Implements controls and directs the process of collection, management and disbursement of funds
• Develops and implements financing plans for capital projects, major renovations, and programmatic investments
• Collaborates with Institutional Advancement and other departments on key philanthropic campaigns tied to CIA's mission and strategic plan
• Provides leadership and vision to develop the financial long-range strategic plan in support of implementing the overall CIA strategic plan
• Implements key initiatives and processes to support the College's business model transformation efforts and multi-year financial resilience planning
• Recommends, implements, audits, and enforces all CIA financial policies; establishes financial philosophy, policies, and safeguards on internal control, billing practices, financial review and other financial activities
• Works as a strategic partner and fiduciary, linking the organization's mission and vision to measurable financial goals, helping the organization determine the critical relationship between strategy and financial capability and achieving operating results that ensure financial equilibrium while maintaining regulatory compliance and financial integrity
• Generates appropriate financial data to support highly focused analytical strategic planning and business development
• Maintains ongoing corporate and investment banking relationships including external relationships with banks, Outsourced Chief Investment Officer, creditors, rating agencies, and insurance companies
• Serves as Treasurer to Board of Directors as well as administrations liaison to various Board of Director Committees including Audit + Risk as well as Finance + Investment

KNOWLEDGE, SKILLS AND ABILITIES

• Broad knowledge of aspects of operations and finance including contract negotiations, public bond financing and lease vs. purchase analysis
• In-depth knowledge of generally accepted accounting principles for nonprofit organizations
• Knowledge of federal state and city tax laws to ensure compliance
• Knowledge of Department of Education regulations
• Exceptional financial and administrative leader with superior analytical and management skills
• Excellent interpersonal skills; experience building, developing, and leading teams
• Project management and personnel management skills
• Business management, marketing, strategic planning and analytic skills
• Ability to learn and utilize various application software programs and technology tools
• Agility and openness to new ways of operating to support business model transformation and modernization efforts
• Commitment to the mission and values of the college
• Strong commitment to diversity, equity, and inclusion; ability to work effectively with a diverse staff
• Exceptional communication, negotiation, and conflict resolution skills
• Brings flexibility courage, and honesty to leadership- able to positively and productively impact both strategic and tactical finance and administration initiatives

MINIMUM QUALIFICATIONS

• Bachelor's degree in business, finance, accounting, or a related field
• 10 years of relevant financial experience
• Significant senior level administrative experience in financial and business operations and demonstrated success in working with all levels of stakeholders (board members, executive leadership, administrative, faculty, staff, and students)
• Demonstrated success in financial statement preparation and analysis, tax exempt financing, and both short and long-term financial planning
• Technical acumen

PREFERRED QUALIFICATIONS

• Master's degree or other advanced degree in a related field
• CPA certification
• Substantial experience in strategic financial and facilities planning
• Experience planning and overseeing capital projects
• Prior experience working within higher education institutions

About the Institution

The Cleveland Institute of Art (CIA) is a nationally recognized college of art and design committed to nurturing creativity, innovation, and artistic excellence. Founded in 1882, CIA offers a rigorous studio-based education in 13 majors, including Illustration, Animation, Industrial Design, Game Design, Painting, Sculpture + Expanded Media, and more. With a strong emphasis on interdisciplinary learning, CIA prepares students to become professional artists and designers equipped to meet the challenges of a rapidly evolving creative economy.

CIA is consistently ranked among the top art and design colleges in the country and has earned recognition from U.S. News & World Report, Animation Career Review, and DesignIntelligence for the quality and impact of its programs. Its alumni have gone on to successful careers in global design firms, entertainment companies like Pixar and Marvel, and major art institutions across the country. Opening Fall 2025, the 14,300 sq ft, $13 million Interactive Media Lab will be Ohio's only facility of its kind-an immersive hub melding XR / VR / AR studios, rapid-prototyping workshops, gaming arcade, screening rooms, and digital capture labs.

The College is home to a close-knit community of approximately 600 students and a dedicated faculty of practicing artists, designers, and scholars. CIA's state-of-the-art facilities, commitment to innovation, and culture of]]> <