Job Description: Chief Financial Officer

Company: The Salk Institute for Biological Studies
Location: La Jolla, California
Job Category: Senior Management
Job Type: {dict_notSpecified}
Salary: {dict_notSpecified}

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Chief Financial Officer

THE SALK INSTITUTE

In 1957, Jonas Salk dreamed of creating a collaborative environment where scientists could explore

the basic principles of life and realize the broader implications of their discoveries for the

future of humanity. Following in the footsteps of our founder, we are committed to improving the

world for the benefit of humankind. The Salk Institute for Biological Studies (“Salk” or “the

Institute”) has a long legacy of making critical scientific breakthroughs in fields ranging from

cancer to immunobiology to neuroscience to plant biology. The Institute provides brilliant

scientific minds with access to cutting-edge technologies and a culture that encourages bold ideas

and nurtures collaboration.

FINANCIAL AND OPERATIONAL HIGHLIGHTS

Salk has an operating budget of $160 million. This is composed of $80 million of government grants

and contracts, $20 million of private grants, $40 million in gifts, and $20 million in endowment

income. In addition to Salk faculty being highly competitive for federal funding, Salk has a long

history of significant support from the philanthropic community. This support has been critical for

cutting-edge research, attracting top faculty, and providing a rich infrastructure for science to

thrive. The Salk endowment is approximately $600 million, providing an important annual revenue

stream for research at Salk. Salk has approximately 50 faculty, 170 postdocs, nearly 100 graduate

students and employs 900 people. Careful fiscal stewardship has resulted in balanced budgets over

the last 30 years, and Salk has received the coveted four-star rating from Charity Navigator for

its strong financial health and commitment to accountability and transparency.

POSITION SUMMARY

The Chief Financial Officer (CFO) will be responsible for overseeing the Salk’s finance,

accounting, grants administration (pre- and post-award) and procurement functions. This role

ensures that the appropriate organizational structures, personnel, tools and strategies are in

place. The CFO is a member of the Salk Executive Leadership Team (ELT) and is a liaison to the

various Board committees, including the investment, finance and audit committees. Reporting

directly to the president, the CFO leads a team of 38 professionals through six direct reports. In

addition to providing strategic and hands-on leadership, the CFO is responsible for making

financial strategy decisions, managing budgeting, financial modeling and analysis, accounting

practices and procedures, indirect cost proposals and negotiations, tax reporting and compliance,

and all borrowing, investing and cash management activities. The CFO also maintains the Institute’s

relationships with lending institutions and rating agencies and formulates and executes financing

strategies to meet capital and operational funding requirements. Further, the CFO is a key

contributor to the formulation and execution of the

Institute’s long-term planning initiatives.

The next CFO of Salk will serve as a visionary financial leader with a proven track record of

success in a multi-faceted financial management function. Ideal candidates will have recent

experience in roles such as vice president (VP) of finance, CFO, or equivalent, in organizations

with revenues commensurate with Salk’s scope and scale; experience with federally funded grants and

contracts in academic or research environments is highly preferred. The successful candidate will

be a team player who has effectively interacted, both internally and externally, with individuals

at all levels, including executive leadership, board members and financial officials.

IDEAL EXPERIENCE

Senior Finance Experience: A proven track record of success in a senior financial leadership

position, ideally with prior experience in a dynamic academic, research, and/or nonprofit setting.

Experience with federally funded grants and contracts in academic or research environments is

highly preferred.

Strategic Partnership: A strong strategic orientation, with the ability to effectively collaborate

with senior leaders and board members.

Data-Driven Analytical Acumen: Extensive knowledge of accounting and financial systems, with prior

experience leading strategic financial planning, financial and investment management, debt

financing and management, and cash flow management.

Systems Expertise: Experienced with evaluating, selecting, implementing and managing information

systems in a medium-sized organization. Experience with ERP/CRM systems implementations is highly

desired.

Communication and Stakeholder Engagement: Demonstrated capacity to communicate effectively across a

broad range of constituent groups.

Strong Credentials: Strong academic credentials required, including a preference for an

M.B.A. in finance and/or a CPA.

COMPENSATION

The estimated annual base salary range for this position is $400,000 – $425,000. Actual base salary

will depend on a variety of factors, including, but not limited to, the individual’s skills,

experience and qualifications.

THE SEARCH PROCESS

The Salk Institute is eager to receive input that will help it build a pool of talented

individuals. To that end, the Search Committee welcomes your comments, inquiries, applications, and nominations, which may be submitted via the confidential search mailbox:

SalkCFO@SpencerStuart.com

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