Vice President for Finance & Administration and Chief Financial Officer

Located thirty miles north of Chicago on the shores of Lake Michigan, Lake Forest College integrates a liberal arts education with hands-on career preparation and pragmatic learning experiences. Lake Forest enrolls more than 1,800 students from more than 40 states and from more than 100 countries. It is one of the most diverse small colleges in the Midwest with more than 40% combined domestic students of color and international students. The College also enrolls a significant number of first generation and otherwise traditionally underrepresented students.

In 2024, Lake Forest College was ranked the Best Liberal Arts College in the Midwest by the Wall Street Journal. In 2025, U.S. News & World Report named it #3 in the nation for Social Mobility and #11 in the Best Value Schools category. The Princeton Review’s 2026 rankings list it as #2 for Best Science Lab Facilities, #14 for Best Career Services, and #14 for Town-Gown Relations. Taking advantage of the College’s unique location, Lake Forest has been lauded for its Career Pathways program, a 97% job placement rate for recent graduates, and a classroom and student life experience that supports strong relationships between students, professors, and staff.

The College employs 115 full-time and more than 100 part time faculty. There are 215 full time and 50 part time staff. The College’s endowment is $137 million. There are more than 15,000 Forester alumni worldwide, many of whom stay in the Chicagoland area.

In 2023, the College launched a five-year strategic framework, “Our Forester Future”. The goals of Our Forester Future include 1) positioning Lake Forest College as a leading, liberal arts institution with an unparalleled pragmatic and modern approach to education; 2) developing a clear, actionable, and nimble priority-setting framework for the future; and 3) capitalizing on a strong brand identity to continue to refine programmatic niches and market relevance.

The College is also in the initial phases of a comprehensive fundraising campaign. With a goal of $175 million, this campaign is the most ambitious in the institution’s history and is off to a strong start with lead gifts totaling over $62 million.

Mission Statement:

Lake Forest College affirms that education ennobles the individual.

Our curriculum engages students in the breadth of the liberal arts and the depth of traditional disciplines. We encourage students to read critically, reason analytically, communicate persuasively, and, above all, to think for themselves. We prepare our students for, and help them attain, productive and rewarding careers. We foster creative talent and independent research. We embrace cultural diversity. We honor achievement. Our faculty of distinguished scholars takes pride in its commitment to teaching. We know our students by name and prepare them to become responsible citizens of the global community. We enable students, faculty, trustees, and administrators to solve problems in a civil manner, collectively. We maintain a secure residential campus of great beauty. We enrich our curriculum with the vibrant resources of Chicago. Lake Forest College celebrates the personal growth that accompanies the quest for excellence. Approved by the Faculty and Trustees – May 1992; amended 2014.

Community Values

As Foresters, we belong to a community that finds strength in its diverse identities and perspectives, and we take pride in our connectedness. As we strive for excellence, we continue to build an environment where every individual is seen, heard, cared for, and supported. The values and traditions we share as Foresters connect us to one another and to our future. Endorsed by College Council and Board of Trustees – May 2025.

Curiosity

• We are curious about the world.
• We are curious about each other.
• We are curious about the people we may become.

Accountability

• We are accountable to our community, leading to transparency and shared governance.
• We are accountable for the impact of our actions.
• We are accountable for our environment and campus spaces.

Intellectual inquiry

• We pursue intellectual inquiry that champions critical thinking.
• We pursue intellectual inquiry that invites interdisciplinary and co-curricular learning.
• We pursue intellectual inquiry that embraces respectful dialogue.

Engagement

• We engage with purpose, bringing our passion, ideas, and energy to everything we do.
• We engage respectfully with one another’s diverse identities and perspectives.
• We engage in bettering our community by connecting across our campus, local community, and beyond.

The VPFA/CFO will oversee a broad array of functions including finance, business operations, treasury, investments, real estate, safety and risk management, facilities, and human resources. They will serve as a strategic partner to the President and campus community. A leader and a strong and effective communicator, the VPFA/CFO will be able to clearly explain the implications of complex financial decisions to various audiences. They must be an entrepreneurial, collaborative, and creative thinker who balances risk-taking with pragmatism.

The VPFA/CFO’s responsibilities will include:

• Short and long-term financial planning and analysis.
• A data-driven approach to the finance and administration functions; interpretation of results to advise the College’s leadership.
• Oversight of cash management, short-term investments, endowment investments, short-term borrowing, long- term debt, and other treasury functions.
• Risk mitigation while in pursuit of ambitious goals; creative ideas around revenue diversification and growth.
• Mentoring, nurturing, and developing a high-performing, diverse team in the College’s Business Office.
• Advising the President and Board on external trends that may impact the College’s finances and/or operations.
• Oversight of audit, accounting, budget, business services, human resources, student financial services, capital financing strategies, and more.
• Development or enhancement of reporting systems/processes that ensure that College leaders are appropriately equipped to make key decisions.
• Fostering and maintaining a culture of professionalism, integrity, and transparency.
• Serving as the liaison to the Board of Trustees’ Financial Stewardship Committee.
• Serving as a member of the College’s Leadership Team with a shared commitment to the College’s overall success and the strength of its culture.

Strong candidates for the VPFA/CFO role will demonstrate the following professional and personal qualities, skills, and characteristics:

Executing for Results

• The ability to analyze data to make decisions, a demonstrated record of accomplishment of operating at the highest levels of efficiency and quality
• Demonstrated ability to translate strategy into actionable plans
• Record of setting and achieving ambitious targets; demonstrated success in driving initiatives and projects to completion
• Ability to persist when faced with obstacles; the ability to operate successfully when resources are bountiful or scarce

Strategic Leadership

• Awareness of market trends and an ability to leverage them to advance the College’s financial and operational health
• The business acumen necessary to allocate resources wisely; the ability to advise the College’s leadership on the balance between strategic risk-taking and fiscal responsibility
• Excellent judgment that balances a variety of factors and points of view; resilience and creativity in the face of ambiguity and change
• Experience in strategic decision-making and financial/operational management in a complex environment

Talent Management and Team Building

• A demonstrated ability to inspire, retain, and develop top talent while nurturing a strong organizational culture across the College’s Business Office.
• Self-awareness and an understanding of their own limitations; a lifelong learner who leads by example
• The ability to ensure teams are appropriately resourced to achieve ambitious goals
• The ability to attract and hire top talent when necessary

Relationship-Building and Communication

• The skills to effectively communicate with audiences from a wide array of backgrounds and with varying levels of financial knowledge
• A collaborative approach that will allow for building partnerships with faculty, staff, and others around campus
• An ability to influence others while maintaining unquestioned personal and professional integrity
• Excellent communication skills; the ability to serve as an ambassador for the College when necessary

Passion for the Mission

• High emotional intelligence; a fundamental motivation to serve the College and its mission
• A willingness to learn about the Lake Forest community, Chicago, and the broader region
• A strong, demonstrated belief in the power of education and the liberal arts
• Support of the College’s overall strategy, including “Our Forester Future” and the related campaign

Lake Forest, Illinois is an idyllic town in Chicago's North Shore. Just 30 miles from downtown and with a direct Metra train line to the city, the close-knit community blends the benefits of small town living with access to a major metro area. Lake Forest residents also have access to endless natural beauty, including Forest Park Beach along Lake Michigan, and a scenic 25-mile-long bike path that intersects other Chicago-area trails. Lake Forest is also filled with exceptional cultural institutions, including the Citadel Theatre Company, the History Center Lake Forest-Lake Bluff, and Elawa Farm. Lake Forest is also home to The Ragdale residency, one of the nation’s leading nonprofit arts residency programs.

To read more about Lake Forest, visit: Top 11 Must-Visit Places in Lake Forest

Russell Reynolds Associates has been exclusively engaged to lead this search.

Given the need for confidentiality throughout this process, prospective candidates are invited to reach out directly to our search consultants at LakeForestVPFA@russellreynolds.com with a resume and brief expression of interest.

We welcome nominations and expressions of interest to the Russell Reynolds team. All inquiries and discussions will be considered strictly confidential.

Compensation

Lake Forest College’s goal is to compensate for this position at a competitive level. The estimated compensation package is expected to be in the range of $240-$260K.

In addition to salary, the selected candidate will be eligible to participate in The College’s standard benefit package. Benefits information can be found at Employee Benefits | Lake Forest College.

The approximate range listed is a good faith determination of potential base compensation as a component of the total compensation for the role at the time of this job advertisement and may be modified in the future.

If you are interested in learning more about employment at Lake Forest College, please visit Working at Lake Forest | Lake Forest College.