Purpose and Scope
The MU Division of Research, Innovation & Impact is responsible for advancing the university’s research enterprise, including the stewardship of financial resources supporting research administration, compliance, and strategic initiatives.
The Division Business & Finance Officer (BFO) provides senior-level fiscal leadership and oversight for the Division and its affiliated units. This role ensures financial stewardship, accountability, and compliance consistent with BPPM 2.001 Fiscal Roles and Responsibilities.
The BFO serves as a strategic partner to the Vice Chancellor for Research, advising on financial strategy, resource allocation, and risk management. In collaboration with unit leaders and departmental finance professionals, this role supports the effective management of approximately $100 million in annual resources, ensuring alignment with institutional priorities and long-term financial sustainability. Directly lead a team of 9 business, finance and operations staff.
Responsibilities
Strategic Financial Leadership:
- Serve as the primary financial advisor to the Vice Chancellor for Research and division leadership team.
- Provide financial insight, modeling, and recommendations to support mission-aligned decision-making.
- Serve as an active member of the Vice Chancellor’s leadership team, contributing to strategic planning and organizational direction.
Fiscal Stewardship & Accountability:
- Ensure division-wide adherence to BPPM 2.001 principles, including:
- Accountability at the point of decision-making
- Stewardship of University resources
- Documentation supporting financial decisions and transactions
- Oversee how funds are budgeted, managed, and expended, ensuring alignment with approved plans, policies, and regulations.
Budgeting, Forecasting & Financial Planning:
- Perform budget manager responsibilities, including planning, analysis, and management of financial resources.
- Lead development and monitoring of annual budgets, forecasts, and financial plans.
- Analyze financial data, including: Trend analysis, Variance analysis, Multi-year projections
- Identify and evaluate funding opportunities, revenue enhancements, and cost efficiencies.
- Support long-term financial sustainability of the Division.
Financial Oversight & Operations:
- Provide oversight of monthly, quarterly, and annual financial activities, including:
o Transaction review and approvals
o Financial reconciliations
o Monitoring of budget execution
o Maintain signature authority and ensure appropriate delegation practices.
o Oversee or review key fiscal processes, including: Payroll reconciliation, Travel authorization, Purchasing card reconciliation, Procurement and disbursements,
- Ensure accuracy, timeliness, and integrity of financial data.
- Establish and maintain robust internal controls, including: Segregation of duties, Transaction oversight, Risk identification and mitigation, Safeguard University assets and ensure appropriate management of financial risk.
- Ensure compliance with applicable laws, regulations, and university policies.
- Ensure financial transactions are: Properly authorized, Fully documented, Accurately recorded, In compliance with policies and regulations
- Ensure transactions meet the standard that they can stand independently for audit and accountability purposes.
- Ensure proper classification and tracking of funds (restricted, unrestricted, designated).
Financial Reporting & Decision Support:
- Provide regular and ad hoc financial reports to division leadership and campus stakeholders.
- Communicate financial information in a clear, actionable manner to audiences including: Vice Chancellors, Division leadership, Unit leaders
- May present financial information to senior leadership, including vice chancellors and campus executives, to support decision-making.
Accounts Receivable & Revenue Oversight:
- Oversee accounts receivable processes, including monitoring collections, allowances, and write-offs in accordance with policy.
- Evaluate the financial viability of programs and initiatives, including revenue-generating activities.
Leadership, Training & Support:
- Provide leadership and guidance to department-level finance staff, including: Training and professional development, Policy interpretation and application, Best practice implementation
- Ensure staff understand and fulfill their fiscal responsibilities.
- Foster a culture of: Fiscal accountability, Ethical behavior, Transparency
Collaboration, Institutional Engagement & Institutional Processes:
- Collaborate with: Division of Finance & Business Services, Sponsored Programs Administration, Office of Human Resources, Other campus and system partners
- Ensure effective communication of policies, procedures, and expectations.
- Approve financial access/security for assigned units.
Additional Responsibilities
As with all positions, additional duties may be assigned to support the mission and priorities of the University of Missouri.
