Vice Chancellor for Finance Roles and Responsibilities

Position Role
Sponsored Program Administration
Financial Management
Effort Reporting
Conflicts of Interest

Position Role

The Washington University vice chancellor for finance is the university’s chief financial officer and is responsible for the financial operations of the university, including accounting, treasury, financial planning and analysis, and insurance. The vice chancellor for finance coordinates with the vice chancellor for research to develop institutional policies and procedures for the financial management and compliance of sponsored projects in accordance with federal regulations and university and sponsoring agency policies and procedures.

The Vice Chancellor for finance reports to the Chancellor.

General Administrative

  • Establishes and maintains a culture of compliance and provides direction and resources to help ensure that the institution administers sponsored research and all related activities in accordance with federal regulations and university and sponsoring agency policies and procedures.
  • Oversees development and implementation of institutional policies and procedures to help ensure the financial compliance of sponsored projects.

Facilities and Administrative Cost Rate

  • Oversees the negotiation and application of appropriate facilities and administrative (F&A) cost rates in accordance with federal regulations and university and sponsoring agency policies and procedures.

Service Centers

  • Provides direction and resources to maintain and administer service center rates in accordance with federal regulations and university and sponsoring agency policies and procedures.

Reporting

  • Provides direction and resources to help ensure the timely submission of financial reports and other financial compliance requirements in accordance with federal regulations and university and sponsoring agency policies and procedures.

Project Closeout

  • Provides direction and resources to help ensure that funds are closed out in a timely and appropriate manner in accordance with federal regulations and university and sponsoring agency policies and procedures.

Financial Management

General Administrative

  • Oversees development and implementation of systems to provide institutional oversight for the financial operations of the university in accordance with federal regulations and university and sponsoring agency policies and procedures.
  • Coordinates with the vice chancellor for research to develop and implement university policies and procedures that help to ensure financial compliance in sponsored projects in accordance with federal regulations and university and sponsoring agency policies and procedures.
  • Coordinates with the vice chancellor for research and the University Compliance Office to help ensure that systems and procedures are in place to monitor and control the financial operations of research at the university.
  • Coordinates with the vice chancellor for research to help ensure that appropriate research financial management communication, education, and training resources are developed and implemented.
  • Coordinates with the vice chancellor for research, the University Compliance Office, and the Office of the General Counsel to resolve significant issues of noncompliance and to help reduce the risk of any future occurrences.
  • Provides direction and resources to help ensure appropriate interpretation of federal regulations and university and sponsoring agency policies and procedures.

Cost Sharing

  • Provides institutional oversight for all cost sharing obligations in accordance with federal regulations and university and sponsoring agency policies and procedures.

Cost Transfer

  • Provides institutional oversight for all cost transfer transactions in accordance with federal regulations and university and sponsoring agency policies and procedures.

Effort Reporting

  • Coordinates with the vice chancellor for research and the University Compliance Office to develop, implement, and monitor the effectiveness of effort reporting policies and procedures.
  • Coordinates with the vice chancellor for research to develop and implement educational programs and tools to assist with appropriate reporting of effort.

Conflicts of Interest

  • Takes appropriate steps to avoid conflicts of interest, or the appearance of conflicts of interest, between financial or other personal interests and the goals and policies of the University.
  • Supports and endorses cooperation with university compliance and monitoring efforts related to conflicts of interest and reports instances of noncompliance to the appropriate compliance office.
  • Coordinates with the Disclosure Review Committee to oversee financial conflict of interest management strategies related to stock escrow.