Vice President for Finance
The broad roles of the newly created Office of the Vice President for Finance (VPF) at the Institute are to interpret and comply with the external financial environment, to provide expert advice and policy recommendations to departments, labs, and centers (DLCs) as well as MIT’s administration, to perform influential reporting and analysis, and to deliver efficient and effective financial and administrative processes while serving the community with high standards. To that end, VPF set about at the beginning of FY2008 to improve or create the structures—financial and organizational—that would facilitate these roles.
After gathering extensive internal and external feedback and setting critical and organizational priorities, VPF has embarked on a period of organizational change over the past year, working to integrate the former Controller’s Accounting Office (CAO), the Office of Budget Operations, and the Office of Finance and Treasury under the VPF umbrella, in an integrated space at Building NE49. The new structure of VPF is organized around five major service areas: Accounting; Travel; Procurement; Insurance; and Budget, Finance, and Treasury.
Efforts to define the organization of VPF have been focused in three major areas:
Realignment of functional area accountability—VPF has refined the role of the CAO under its new name Accounting Services and Controller, and has created the position of director of finance and treasury to oversee what was formerly the Office of Budget Operations and the Office of Finance and Treasury.
Strengthening commitment to employee growth and development—VPF has created the position of director of human resources to manage a number of new and improved projects to strengthen VPF’s commitment to employee growth and development (including the Professional Development Initiative, a newly created VPF employee performance-appraisal form and process), as well as new efforts to meet the ongoing staffing needs of the organization. VPF has also refocused on the Rewards and Recognition program by hosting a luncheon with visits from President Susan Hockfield and Executive Vice President Theresa Stone, where all employees were recognized with a gift expressing our appreciation to all staff members.
MIT Reports to the President 2007–2008