PD_ED_Chief-Financial-Officer

Position Description

CHIEF FINANCIAL OFFICER, DEPARTMENT OF EDUCATION

Overview

Senate Committee

Health, Education, Labor and Pensions
This CFO is covered by the CFO Act of 1990 that may be filled through appointment by the president, with the advice and consent of the Senate, or through designation by the president from among agency officials who have been confirmed by the Senate for other positions.¹ _{CRS report: Presidential Appointee Positions Requiring Senate Confirmation and Committees Handling Nominations, 2016}

Agency Mission

To promote student achievement and preparation for global competitiveness by fostering educational excellence and ensuring equal access.

Position Overview

The chief financial officer provides overall financial management responsibilities for all department programs, including the budget office. He or she provides advice and other assistance to the head of the executive agency and other senior management personnel of the executive agency to ensure that information technology is acquired and information resources are managed for the executive agency in a manner that implements the policies and procedures of this division. CFOs also play a crucial government-wide role.

Compensation

Level IV $155,500 (5 U.S.C. § 5315)² _{The Consolidated Appropriations Act, 2017 (Public Law 115-31, May 5, 2017), contains a provision that continues the freeze on the payable pay rates for certain senior political officials at 2013 levels during calendar year 2017.}

Position Reports to

Secretary of Education

Responsibilities

Management Scope

In fiscal 2015, the Department of Education had $90,029 million in outlays and 3,862 total employment. The chief financial officer oversees the Office of the Chief Financial Officer (OCFO) and the following divisions within the organization: Financial Improvement and Post-Audit Operations, Contracts and Acquisitions Management and Financial Management Operations. In 2015, the chief financial overview specifically oversaw 182 full-time equivalents.

Primary Responsibilities

® Develops and maintains integrated accounting and financial management systems.
® Oversees the recruitment, selection and training of personnel to carry out agency financial management functions, as well as manages, trains and provides policy guidance and oversight of these personnel and their activities.
® Implements agency asset management systems, including systems for cash management, credit management, debt collection and property and inventory management and control.
® Manages the financial execution of the agency budget and actual expenditures.
® Provides financial and performance reports to staff, overseers and stakeholders.
® Ties the budget and performance to outcomes.
® Takes the lead role in enterprise risk management.
® Serves as the principal advisor to the secretary and senior officials on all matters related to financial management, financial management systems, financial control and accounting, cooperative agreements and acquisition management and related training.
® Oversees credit management issues and trends relative to student financial assistance programs and makes recommendations and develops alternative strategies based on sound principles of credit and financial management.
® Develops, manages and provides policy guidance and oversight of the department’s fiscal management activities and operations. Provides leadership and direction in the areas of internal control and assessment, financial management training, post audit activities, debt collection and indirect cost determination.
® Prepares and transmits reports on chief financial officer functions to the secretary, the Congress and OMB.
® Fulfills the responsibilities of the chief acquisition officer.
® Develops, manages and provides regulatory, policy and procedural guidance and oversight to the department’s acquisition system and completes acquisition management reporting requirements.
® Establishes and maintains requirements for acquisition workforce development and career management.
® Manages the department’s contracts and purchasing activities.
® Coordinates the implementation of ED Regulations for the Protection of Human Subjects in extramural and intramural research projects.

Strategic Goals and Priorities

[Depends on the policy priorities of the administration]

Requirements and Competencies

Requirements

® Higher education and/or K-12 background
® Strong background in federal financial management
® Executive leadership experience
® Experience working in a large organization
® Risk management experience
® Knowledge of the department’s functions and policies
® Familiarity with cyber-technology a plus
® Background in data analytics a plus

Competencies

® Ability to collaborate with the chief information officers, under/assistant secretaries for administration/management, as well as other CFOs and OMB via the CFO Council
® Knowledge of and relationships with/ability to develop relationships with Congress

Past Appointees

Thomas P. Skelly (2008 to 2017) (Acting) u2013 Director of the Budget Service in the U.S. Department of Education; chair of the government wide Budget Officers Advisory Council
Lawrence Warder (2006 to 2008) u2013 Worked with a private foundation and the Austin School District to increase access to Advance Placement classes; unpaid consultant to the University of Texas to improve their internal audit and compliance system; 33-year accounting and management career with Deloitte and Touche
Jack Martin (2002 to 2005) Acting u2013 Chief executive officer of Home Federal Savings Bank of Detroit; CEO of Jack Martin & Co. P.C.; founder and chairman of Martin, Arrington, Desai & Meyers, P.C. in Bingham Farms; Chairman of the Provider Reimbursement Review Board at the U.S. Department of Health and Human Services
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