Vice President and Chief Business and Finance Officer

Summary

The Vice President and Chief Business and Finance Officer VP and (CBFO) reports to the President and is responsible for overseeing all the accounting as well as Business and Finance functions. He/She is responsible for implementing and maintaining a system of internal controls and will ensure that the institution’s assets are adequately safeguarded. This will include ensuring the implementation of institution-wide policies covering a broad range of financial and business activities; maintaining proper financial management systems and arrangements as well as the accuracy, integrity, timeliness and security of the University’s financial accounting systems; and, ensure that the University satisfies its statutory obligations in a timely manner. The CBFO is also required to maintain strong working relationships with academic and administrative leaders throughout the University as well as with the University’s Honorary Treasurer, Chair of the Finance Committee of the University Council and with the Ministries of Education and Finance 💰Basic Salary: $9,142,331.96 - $10,406,752.38 JMD per annum. Allowances: Full Upkeep: $ 1,697,148.00 p.a. and Book grant: $150,00.0.00 p.a. reimbursable

Responsibilities

• • Analyses and interprets financial data and provide the President with a clear understanding of the financial performance and implications of business plans and strategies.
• • Reviews, recommends, and implements the accounting policies, systems and procedures.
• • Monitors and reports to the President on the financial operations and efficiencies, on a timely basis.
• • Participates in the formulation of the University’s expenditure policies.
• • Ensures compliance with the relevant laws relating to statutory deductions, auditing, and financial administration.
• • Identifies and reports on significant variances between planned and actual expenditures and takes corrective actions, when required.
• • Liaises with the University’s auditors to ensure the provision of audited accounts, in keeping with the timeline required under the University of Technology, Jamaica Act.
• • Manages the general financial operations of the University including preparation of financial reports, conducts financial analyses and provides appropriate internal controls in accordance with the University’s guidelines.
• • Supervises the preparation of the monthly, quarterly, and annual financial management reports and implements recommendations to improve organizational efficiency.
• • Reviews financial statements and makes the necessary recommendations to improve the University’s financial affairs.
• • Manages the Accounts Department and provides technical accounting direction to the members of the team.
• • Performs periodic reviews of the Accounting Department to ensure that the most efficient practices are applied.
• • Attends management and committee meetings and presents various financial reports.
• • Performs any other duties relating to the effective and efficient financial administration of the University.

• Performance Criteria:

  • • Accuracy and completeness of financial information for statutory accounts and tax computation delivered on a timely basis.
  • • The objectives of the Accounts Department are satisfactorily achieved.
  • • Timely production of management reports.
  • • Improved information flows enabling effectiveness.
  • • Financial information is delivered in an accurate and timely manner.
  • • High quality customer service is delivered.
  • • Professionalism, ethics, integrity, and confidentiality of information obtained on the job are maintained.

• Authority To:

  • • Recommend changes to improve systems and financial performance.
  • • Ensure compliance of the internal controls with all existing systems and procedures.
  • • Ensure compliance with all statutory requirements.
  • • Conduct regular periodic evaluation of team members.
  • • Sign cheques up to authorized limit.
  • • Authorize payments within limits specified by the University
  • • Recommend training requirements for supervised staff.
  • • Manage the Division’s budget.

Required Skills

• Specialised Knowledge:

  • • In-depth knowledge of international accounting standards.
  • • In-depth knowledge of international financial reporting standards (IFRS).
  • • Sound knowledge of the University’s accounting policies and procedures.
  • • Knowledge of computerized accounting applications.
  • • In-depth knowledge of statutory payroll regulations.
  • • Extensive knowledge of Jamaica’s taxation laws.
  • • Pertinent knowledge of Jamaica’s labour laws.
  • • Knowledge of financial regulations relating to public sector bodies in Jamaica.

• Specialised Training:

  • • Cost/Benefit analysis
  • • Budgeting and forecasting
  • • Management reports
  • • Financial planning and analysis

• Specialised Skills:

  • • Strong awareness of systems of internal controls.
  • • Advanced use of information technology tools and accounting software used by UTech.
  • • Dynamic leadership skills, with the ability to coach, train, develop and motivate the team, while building staff confidence.
  • • Keen eye for detail.
  • • Results oriented and self-motivating capabilities to address operational demands, regulatory changes and strong problem solving and analytical.
  • • Highly developed organizational and time management skills.
  • • Ability to manage multiple activities simultaneously.
  • • Excellent communication and interpersonal skills.
  • • Strong business, commercial and technical acumen and high levels of professionalism and integrity.
  • • Excellent presentation skills.
  • • Ability to develop and maintain effective working relationships across the University.
  • • Ability to work as part of a team as well as independently.
  • • Ability to deal with difficult situations while maintaining a professional demeanor

• Physical Skills:

  • • Normal physical effort

• Analytical Skills:

  • • Investigative skill
  • • Problem-solving skills
  • • Analysis of results at the strategic level
  • • Budget planning and analysis

Qualifications

• • Chartered Accountant and Master’s degree in finance, business, accounting or other equivalent qualification
• • At least ten (10) years’ experience at the senior management level in the accounting or finance functions in a large private sector or public body, as well as previous relevant experience at the level of CBFO in an organization of similar size and/or complexity as UTech, Jamaica.

Additional Information and Instructions

• Working Conditions:

  • • Agreeable office environment
  • • Required to work beyond normal hours and on weekends to meet deadlines.
  • • Occasional travel locally, regionally, and internationally.
  • • May be required to work in a virtual environment occasionally

Interested persons who meet the requirements are invited to submit electronically a job application letter and resume (PDF only) by Friday, March 7, 2025, at 3:45 p.m. addressed to: Simone McGregor Jackson Vice President and Chief People Officer People Division University of Technology, Jamaica 237 Old Hope Road, Kingston 6 📧 Email: hrm@utech.edu.jm ℹ️ Subject: Vice President and Chief Business and Finance Officer ONLY SHORTLISTED APPLICANTS WILL BE CONTACTED

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