St. Mark’s School

DEERFIELD ASSOCIATES has been retained by St. Mark’s School, located in Southborough, Massachusetts, to conduct a national search for a Chief Financial Officer.

Chief Financial Officer

St. Mark’s School is seeking an experienced, energetic, collaborative professional with exceptional financial and analytical skills and deep rooted experience in business and finance matters for the position of Chief Financial Officer. Reporting to the Head of School and serving on the senior administrative team, the Chief Financial Officer is responsible for the business, finance, investment, facilities, human resources, risk management, and operational functions. The CFO monitors and is responsible for leadership of both day-to-day business operations and enabling St. Mark’s School to achieve long-term strategic goals.

The position requires interaction and teamwork with the head of school, senior administrators, local community members, faculty members, staff, vendors and the Board of Trustees. The successful candidate will manage a team of professionals and support staff (including facilities) of approximately 60 employees and join a dynamic, experienced and collegial team. This opportunity is available immediately and will be filled following a comprehensive national search.

St. Mark’s School Background

St. Mark’s School is a coeducational, Episcopal, preparatory school, situated on 210 acres in Southborough, Massachusetts, 25 miles from Boston. Founded in 1865 by Joseph Burnett, St. Mark’s is one of the oldest private boarding schools in New England and is a member of the Independent School League in competitive athletics. The school’s 65 teachers lead 375 boarding and day students through a rigorous curriculum and a full program of co-curricular activities. Class size averages 12, with a student-faculty ratio of 6:1. Each department offers honors and advanced courses. Dr. Ivory D. Hills was appointed in 2024 as the new head of school. To learn more, please visit. www.stmarksschool.org

The CFO Responsibilities

Manage the school’s finances, including installing controls, setting budgets, processing payroll, and coordinating debt, endowment draw and cash flows.
Oversee the recruiting, hiring, onboarding, work-load assignment, compensation, evaluation, development, and separation function of the staff.
Develop and implement a robust process that identifies functional needs at the school and supports the recruitment and hiring of appropriate staff.
Ensure that staff comply with the expectations and policies outlined in the Employee Handbook.
Collaborate with the Dean of Faculty, Director of HR, and legal counsel on an annual basis to update the Employee Handbook
Serve as liaison to various Committees of the School’s Board of Trustees, including the Finance and Investment Committees.
Manage and actively participate in all Business Office operations, including budgeting and accounting, financial modeling and analysis, payroll, human resources, risk management and benefits; supervise the Business Office staff of 6.
Supervise the managers, operations and budgets of Facilities Maintenance, Auxiliary Programs, Food Services, the Bookstore, and general office services; provide communication and support for members of the staff.
Provide oversight of all major capital projects; communicate with all constituencies regarding construction planning and progress.
Work with auditors to ensure compliance with applicable accounting procedures and standards; oversee and actively participate in the annual audit process.
Manage accurate and timely filing of all required financial reports in accordance with GAAP and in compliance with the IRS and other regulatory standards and requirements.
Collaborate effectively with and provide support services to other offices on campus, including Advancement, Auxiliary Program and Admission.
In collaboration with the Head of School, maintain positive relationships with the School’s neighbors and local town officials.
Manage and evaluate the work of the other staff in the Business Office, including the Director of Human Resources, Director of Auxiliary Programs, Director of Facilities, Director of Dining, Controller, Payroll Processor, Accountant, Coordinators of Accounts Payable and Receivable, Head Security Officer and others.
Prepare appropriate periodic reports for the Board of Trustees.

Additional Duties and Responsibilities

Participate in the Administrator on Duty (AoD) rotation.
Other duties as assigned.

Four qualities are seen as essential:

The CFO must have extremely strong finance, accounting and business skills and a proven track record of success;
The CFO must have the interpersonal skills and leadership style which will allow them to manage a team, articulate a cogent philosophy, and inspire co-workers;
The CFO understands and shows the ability to embrace and support the unique culture of a nationally recognized private boarding school;
The CFO must have excellent judgment and the ability to approach issues from all perspectives and with an understanding of the interests of all stakeholders.

Job Qualifications

A commitment to building and working with teams of adults to run as school dedicated to preparing students for their future.
An understanding of the unique challenges associated with managing the business operations of a residential high school and non-profit organization.
Propensity to take on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm.
At least ten years work experience in a leadership position in a financial or business environment background.
A Bachelor of Arts degree is required. An advanced degree in a relevant area (e.g. MBA) is strongly preferred. A CPA is preferred though not required.
The ability to work successfully with members of the community, including faculty, staff and administrative leaders, as well as the Board of Trustees, alumni, parents, and local officials.
The ability to serve as a critical business thinker, capable of providing positive and proactive solutions to business issues.
A track record of effective leadership.
Demonstrated commitment to inclusion and viewpoint diversity.
Effective financial and business management skills.
Strong communication skills, both in print and in speech.
The ability to organize, set priorities, and multi-task.
An extraordinary work ethic and the ability to meet unexpected challenges.
Familiarity with financial and business issues attendant to a large physical plant.
Understanding of compensation, benefits, and employee and labor relations.
Proven financial modeling and forecasting skills.
An interest in education in general and the school’s mission specifically.
Strong negotiation skills in establishing contracts with outside vendors.
Excellent listening skills and the ability to empathize.
Positive energy, creativity and a positive attitude.
The ability to identify talent, develop employees professionally, and motivate an office of eight (8) direct reports and a total of approximately 60 staff.
Knowledge of and the ability to implement internal controls.
An awareness of trends and issues challenging education and the capacity to relate them to the school’s situation.
An understanding of technology and the willingness to embrace technological change to achieve more efficient and cost-effective results.

The School’s Leadership

Head of School Dr. Ivory D. Hills

Dr. Ivory D. Hills began his tenure as St. Mark’s head of school on July 1, 2024. His appointment by the St. Mark’s Board of Trustees was announced on July 31, 2023, following an extensive nationwide search.

From 2011 to 2024, Dr. Hills served in various roles at Deerfield Academy—most recently dean of faculty and assistant head of school for strategy and planning—where he excelled as both a dedicated classroom teacher and an influential academic leader. In his role as dean of faculty and assistant head of school for strategy and planning, Dr. Hills oversaw a 140-member faculty and provided comprehensive support for academic, artistic, athletic, co-curricular, college advising, health and wellness, and residential programs. He fostered a culture of positivity among the faculty, emphasizing student-centered growth, and managed workload assignments, housing placements, leave replacements, and professional development requests. Additionally, he collaborated closely with the school’s advancement office to support faculty and curriculum-centered fundraising initiatives.

Dr. Hills is a distinguished scientist, holding a B.S. in chemistry from the University of North Carolina-Chapel Hill and a Ph.D. in organic chemistry from MIT. Before his tenure at Deerfield, he served as a senior research chemist at Merck Research Laboratories, leading medicinal chemistry teams involved in drug development for Alzheimer’s disease, migraine, schizophrenia, and colorectal cancer.

Read Dr. Hill’s Bio Here

St. Mark’s School educates young people for lives of leadership and service.

Mission Statement

St. Mark’s School educates young people for lives of leadership and service. Founded in 1865 as an intentionally small residential community, the school challenges its students to develop their particular analytic and creative capabilities by both inspiring their academic and spiritual curiosity and kindling their passion for discovery. We value cooperation over self-interest, and we encourage all members of our community to explore their place in the larger world beyond our campus.

Diversity Statement

St. Mark’s School seeks to reflect the increasingly diverse world in which our students presently live and will live in the future. We intend to provide our students with a superior education in a community of students, parents, faculty, and staff that represents a variety of racial, ethnic, cultural, and religious backgrounds. We strive to ensure respect for all regardless of sex, gender, gender identity, race, religion, sexual orientation, ability, family structure or economic background.

In support of our objective, St. Mark’s School:

will continue to give special importance to the inclusion within our student body, our faculty, and our staff of persons from all groups within our society – particularly those that have experienced prejudice and disadvantage.
will provide all members of the school with a range of appropriate opportunities to develop skills for living in a diverse community and integrate diversity initiatives throughout the school program.
will empower all members of the St. Mark’s community to share their differences as well as their common experiences to enhance their education.

St. Mark’s promotes awareness around cultural difference and provides affinity opportunities for students whose social or identity needs are not reflected in the dominant culture at St. Mark’s through Community and Equity Affairs.

Disclaimer

The above job description is intended to describe the general nature and level of work being performed by employees assigned to this position. The job description is not intended to be construed as a comprehensive list of all responsibilities, duties, and skills required of individuals in this role. It is expected that the role and responsibilities will develop over time commensurate with performance.

Sustainability Statement

In valuing cooperation over self-interest and recognizing our role as global citizens, St. Mark’s School actively fosters environmental stewardship and sustainable development in its education, planning and practices.

Our Episcopal Identity

At St. Mark’s, we have values that we trace directly to our Episcopal identity:

We value life in common, believing it is strengthened by honest and respectful dialogue across lines of disagreement and difference.
We value time for spiritual reflection and the intentional teaching of wisdom, compassion, and humility.
We value human reason used critically in the pursuit of knowledge.

We also have community-wide practices that relate directly to these values:

All-School Chapel twice a week, interfaith/ecumenical in style
Required academic study of Religion/Philosophy/Ethics, two semesters
Regular, all-School engagement in Community and Equity programming

Financial Overview

As a result of disciplined fiscal management, prudent endowment oversight, and a successful capital campaign which concluded in 2022, today St. Marks School is on sound financial footing. The endowment stands at approximately $165M, and the school consistently balances its budget. St. Mark’s School major revenue source is tuition, and approximately 65% of the annual operating budget $30M comes from that source. The school awards financial aid to 121 out of 377 (32%) its students. St. Mark’s School endowment per student (net of debt) are low relative to its peer schools. The school’s annual fund for 2023-24 amounted to $2.65M, and capital gifts of approximately $5M were received.

St. Mark’s School continues to maintain its status as one of the nation’s most competitive schools. The combination of disciplined spending, capable endowment management, strong annual fund support, will position the school well. Increasing the endowment is seen as a high priority if the school is to remain in the position of strength it currently holds. The most recently completed accreditation affirmed the school’s many strengths and identified several initiatives and areas that the school needed to allocate additional resources as it seeks to retain its status as one of the nation’s top independent boarding schools. The CFO will be a key leader in positioning the school to be the educator of choice in preparing students for their future.

St. Mark’s School Benefits

The CFO position at St. Mark’s School offers an exciting and supportive work environment, a competitive salary and benefit package which includes medical and dental plans, a pension plan, tuition remission, campus housing and/or a housing stipend (which is a taxable benefit) and four weeks of paid vacation.

Equal Opportunity Employer

St. Mark’s School provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, national origin, gender, age, sex, sexual orientation, disability or genetics, and any other characteristic or status protected by law. For the candidate of choice, a thorough background check including a criminal background check is required as a condition of employment.

Contact Information

To explore this career opportunity on a confidential basis, please send your resume, a letter of interest articulating your interest, skill sets and work experiences for this opportunity, and a list of five (5) references (which will only be contacted if mutual interest is determined) to:

Doug Cooney, Executive Search Consultant, DEERFIELD ASSOCIATES Executive Search, Inc.
572 Washington Street, Suite 15, Wellesley, MA 02482 Telephone: 781-237-2800.
Email: [email protected]