Chief Financial Officer, Open Learning

Position Overview:

Reporting to the Vice Provost Open Learning, the CFO, Open Learning will provide financial leadership, decision support, and strategic direction. The CFO, Open Learning will be responsible for the financial operations of Open Learning, including the development of a financial and operational strategy, associated metrics, and the ongoing development and monitoring of control systems and reporting of accurate financial results. The CFO, Open Learning will be a key member of Open Learning’s leadership team.

Principal Duties and Responsibilities (Essential Functions):

Financial Strategy and Planning

• Develop, implement, and monitor financial aspects of strategic business plans that align with the short- and long-term goals of MIT Open Learning.

• Lead the development of annual and multi-year budgets for Open Learning’s units.

• Provide financial forecasts and models to support business planning, revenue growth, and cost control efforts.

• Ensure financial planning incorporates emerging opportunities in online learning and professional education.

Revenue Models and Diversification

• Collaborate with business unit heads and other stakeholders to diversify revenue streams through innovative financial models, partnerships, and expansion of fee-based programs.

• Work closely with academic and administrative leaders to evaluate new market opportunities in executive education and digital learning platforms.

• Provide guidance on pricing strategies for Open Learning’s offerings, balancing accessibility, competitiveness, and financial sustainability.

Operational and Financial Oversight

• Monitor all financial aspects of the organization, including financial reporting and accounting, financial analysis, and forecasting and modeling.

• Develop and implement best practices and control systems to mitigate risk, ensure compliance with MIT policy, and deliver exceptional service to Open Learning business unit heads and other partners.

• Support and deliver exceptional service to Open Learning business unit heads and other partners, as a trusted advisor on budgeting, financial reporting, and compliance.

• Manage financial reporting to MIT’s central administration or other stakeholders.

• Lead the implementation of financial systems and processes that streamline operations, enhance data accuracy, and validate the proper allocation of resources across programs.

• Ensure all financial operations meet MIT’s policies and audit standards and collaborate with external or internal auditors where necessary.

Vendor and Partner Management

• Oversee financial aspects of contracts with external vendors and partners, including negotiations, budgeting, and performance evaluation, consulting central finance and legal counsel as necessary.

• Ensure alignment of vendor agreements with MIT’s policies, particularly regarding the use of the MIT brand and compensation models for digital content and course offerings.

Leadership and Collaboration

• Provide financial leadership across Open Learning’s various units, working closely with the academic deans, faculty, and department heads to ensure alignment with institutional priorities.

• Develop and deliver clear presentations of complex financial information and other data to meet the needs of various audiences.

• Collaborate with Open Learning leadership to establish and monitor key performance indicators for financial success and program impact.

• Establish and maintain strong, collaborative relationships with internal and external stakeholders.

• Hire, manage, and direct the activities of the finance team, including day to day management and support, long-term workforce planning, and performance management and annual reviews.

• Foster a culture of transparency, accountability, and continuous improvement.

• Other duties as assigned.

Supervision Received:

Reports to the Vice Provost Open Learning

Supervision Exercised:

Manage seven to ten direct reports, both managers and independent contributors

Qualifications & Skills: 

Bachelor’s degree required

Minimum 10 years financial management experience required

Strong team and organizational leadership, collaboration, and communication skills.

Master’s degree preferred.

Higher education experience preferred

Salary range:  $175,000 - $225,000, final salary determined by MIT’s compensation team based on the skills and experience of the person hired.
 

Employment is contingent upon the completion of a satisfactory background check.

This is hybrid position, with 1 - 3 days a week required onsite in Cambridge, MA.