The Spence School

Chief Financial & Operating Officer

DEERFIELD ASSOCIATES has been retained by The Spence School to conduct a comprehensive national search for a Chief Financial & Operating Officer.

The Spence School announces a search for a Chief Financial and Operating Officer CFO/COO, a key leadership position responsible for the stewardship of the School’s financial resources and the oversight of the strategic priorities that maintain fiscal discipline and focus on sustainable financial strength. The CFO/COO reports to the Head of School, serves on the Senior Administrative team and leads highly experienced Business and Operations teams. The opportunity is available in July 2026 and will be filled following a comprehensive national search and the identification of the candidate of choice.

The Spence School, founded in 1892, is an all-girls K-12 independent school in New York City with 804 students and 244 employees. Renowned for its dynamic, deep, and broad liberal arts education, outstanding instruction and vibrant student culture, The Spence School empowers girls ages 5 to 18 to cultivate a passion for lifelong learning and effect meaningful change in their worlds. Spence has more than earned its national reputation for educating ― scholarly women of the highest order. Every angle and aspect of the Spence program focuses on teaching and learning, on building close connections with a gifted faculty, and on creating age-appropriate distinction for its Lower, Middle and Upper Schools. Spence puts equal emphasis on agency and development of self as it does on purposeful citizenship and care for others.

Under the stewardship of the Board of Trustees, Spence works passionately and deliberately to foster standards and spaces that affirm commonalities and to find the value in the differences in all of their constituents. The community finds power and joy in working collaboratively to ensure that Spence is a place of ethical stance and substance, a place in which students, parents, faculty, staff and administration cultivate personal integrity in service to the collective values of respect and trust.

The School’s urban campus includes the flagship 91st Street building, home to the Middle and Upper Schools; 93rd Street building, home to the Lower School; and its newest building, 412 Athletic and Educational Facility, which opened in fall 2021. In 2013, Spence completed a capital campaign of over $100 MM, resulting in an expansion—the 91st Street townhouse—and a renovation of its flagship 91st Street building. The 2021 completion of the 412 East 91st Street building caps a 10-year, $200MM investment in the School’s physical plant. In 2025 the School purchased a building adjacent to its Lower School building, and the School has since embarked on a new capital campaign to support both programming and the expansion of the Lower School through significant classroom building expansion.

Spence is fortunate to operate from a position of financial strength due not only to its substantial endowment ($162,187,572 as of 6/30/2025), but also to a history of sound financial planning and the steadfast support of its community: the Spence Annual Fund contributes over $4MM to the yearly operating budget. Spence parents and alumnae have also provided extraordinary support for capital projects, most recently contributing nearly $47MM for the construction of 412.

The Board of Trustees (26 members) is diverse, strong, and supportive and provides deep knowledge and experience in a multitude of disciplines. Trustees advise and support the Head of School on strategic issues such as long-range planning, fiscal and investment strategies and major capital projects. In addition, the board works closely with the administration on budgeting, annual fundraising and endowment management.

Please visit The Spence School website at www.spenceschool.org for additional information.

The Position

The Spence School seeks an experienced and strategic financial and operational leader to serve as its Chief Financial and Operating Officer (CFO/COO). This senior leader will oversee the School’s $59.9M operating budget and provide vision, stewardship, and direction across all financial and operational functions.

The CFO/COO is responsible for long-term financial planning, investment strategy, and the effective management of business operations, including finance, facilities, campus safety, technology, auxiliary programs, and food service. This role is central to advancing the School’s strategic priorities and ensuring operational excellence across the institution.

The CFO/COO manages a team of 8 direct reports and oversees 46 other professionals and support staff. The position requires active interaction and teamwork with the Head of the School, faculty, students, staff, parents and the Board of Trustees.

Essential Responsibilities

Lead the organization and management of the Business Office including accounting, accounts payable, accounts receivable (tuition and fees), cash management, purchasing, budgeting, financial reporting, audits, investment, banking, human resources, payroll, employee relations and benefits program.
Maintain a 10-year projected financial model, including tracking revenues and expenditures associated with capital and major gift campaigns, that facilitates long-term strategic planning and decision making by the Head of School and Board of Trustees..
Serve as the School’s liaison to the Finance, Audit, Facilities, Building and Investment committees of the Board of Trustees.
Work closely with the Controller and manage the process for preparing the School’s annual operating budget that will permit discussion and approval by the Board of Trustees. Manage and report financial operations and monitor and report on the budget throughout the year to ensure the School remains financially stable.
Secure an annual external audit of the School’s financial records and manage preparation of U.S. GAAP financial statements and tax returns for the School.
Collaborate with the Director of Admissions and Financial Aid in administrating the School’s $8.6 MM FA budget.
Provide oversight and implementation of risk management strategies relating to the financial health of the School, including but not limited to accident prevention, fraud and cyber threats, contractual risk, internal fraud and financial liquidity.
Lead the continued growth of Spence’s auxiliary revenue program, specifically its 412 Squash program and all facilities rentals.
Work closely with the Director of Facilities to oversee the Facilities Department in its stewardship of Spence buildings and campus and strategically plan for capital expenditures. Oversee all maintenance, capital projects and relationships with consultants, architects, contractors, lawyers and/or city and state officials; oversee compliance with building codes and safety regulations and maintain appropriate levels of insurance to protect the property and cover the liability of the school.
Take the lead project management role on the School’s $80 MM expansion of the Lower School building, currently underway.
In concert with the Director of Campus Safety, maximize safety on campus by undertaking risk assessment and crisis planning; develop and review the School’s safety plan and protocols.
Work with the senior administration to steward Spence’s workplace culture, proactively seeking to maintain a diverse, inclusive and professional environment for all. Help to provide information, empathy and support when employees have questions or concerns about workplace policies or experiences.
Ensure that personnel policies conform to state and federal laws and, through regular staff meetings, professional development, and annual evaluation, support and monitor the administrative staff.
In consultation with the School’s legal counsel, maintain a working knowledge of government regulations, policies and related issues of importance to Spence. Where appropriate, serve as the School’s representative in legal matters.
Work with the Director of Food Service to ensure the effective financial and operational management and code compliance of in-house dining services.
Ensure compliance with bond covenants, audit standards of all regulatory and funding agencies and the rules of accrediting bodies by continually monitoring operations, programs, and physical properties; initiates change where required.
Work with the Director of Technology to strategically plan and implement technology infrastructure and capital budgets, device purchasing and inventory, protocols and cyber security.
Review and analyze major contractual obligations of the institution such as construction and professional services and contract and grant proposals.
Work closely with the Board of Trustees, Head of School, Architects and Project Manager during the planning and construction phases for all building projects.
Advise Head of School and Board of Trustees on matters of policy and financial management.
Ensure the School’s effective operational and financial procedures by consistently examining current processes to ensure operational excellence that moves the School forward to meet strategic goals.
Manage and lead other projects as assigned by the Head of School.
Collaborate with the Parents’ Association as needed.

The Qualifications

The Spence School seeks the following personal values, professional skills and work experiences in the new CFO/COO.

The ability to serve as a strategic business thinker, capable of providing positive and proactive solutions to business issues.
An open, collaborative and sophisticated management leadership skill set, a team player.
Demonstrated cultural competency and skills engaging with and learning from people with diverse backgrounds and experiences.
Excellent communication skills, both oral and written.
Experience with operating for-profit businesses/subsidiaries.
Knowledge and experience in setting up effective financial controls, and proven financial modeling and forecasting skills.
Excellent technical expertise in financial and operational systems, with a focus on data-driven decision-making, process improvement, and scalable execution.
Effective negotiation skills in developing contracts with external vendors.
Creativity, analytical skills, project development and management skills.
A strong background in financial management and modeling, investment and risk management, support services administration, business services, human resource and benefit administration, and facilities management.
An effective financial and business manager, capable of earning the respect and attention of the faculty, administration, staff, families and the Board of Trustees.
Ability to interface with all constituencies of the school community – the Head of the School, the administration, staff, faculty and students, the Board of Trustees, alumnae, parents and friends of the School.
Experience and ability to use technology to support the School. Ability to lead, motivate and manage a high-quality staff, and hire new talent.
Experience in an independent school, college or university setting is preferred, although individuals with strong financial and leadership skills in a related field are encouraged to explore this leadership opportunity.
10–15 years of direct work experience in a financial and business leadership position.
Bachelor’s degree required, MBA and/or a master’s degree in a related finance or accounting field strongly preferred.

The ideal candidate will be a strategic and collaborative leader with deep expertise in financial management and operational oversight within a complex organization, preferably in an independent school or nonprofit setting. They will bring strong analytical and problem-solving skills, sound judgment, and the ability to translate financial data into clear, actionable insights for diverse stakeholders, including the Head of School and Board of Trustees. An effective communicator and team builder, the candidate will demonstrate emotional intelligence, integrity, and a commitment to fostering an inclusive and supportive workplace culture. They will be equally comfortable managing day-to-day operations and leading long-term strategic initiatives, with a proactive approach to risk management, innovation, and continuous improvement.

Felicia Wilks

In 2022, Felicia A. Wilks assumed the leadership of the school as the 15th Head of school, ushering in a new chapter in the school’s distinguished history. Felicia succeeded Bodie Brizendine following her remarkable 15-year tenure leading Spence.

Since 2023 the school has engaged in a thoughtful and inclusive Strategic Planning process that has brought the school’s community of students, parents, faculty, and alumnae together in townhalls, focus group meetings and enlisted their input through surveys. In March 2025, the school launched its Strategic Plan, The Spark of Spence, with a community celebration. Felicia’s demonstrated and exemplary leadership is characterized by her genuine warmth, humor, perspective, and clarity of priorities and purpose.

Mission Statement

With a commitment to academic excellence and personal integrity, The Spence School prepares a diverse community of girls and young women for the lifelong transformation of self and the world with purpose, passion and perspective.

Philosophy Statement

Offering a rigorous, liberal arts study, The Spence School develops high standards and character while creating an environment that fosters self-confidence and the joy of learning. Charging our students to meet the demands of academic excellence and responsible citizenship in a changing world, we teach that diverse points of view fuel inquiry, engagement and deeper understandings of complex truths. We believe in the strength, intellect and vitality of women.

Motto

Non scholae sed vitae discimus (Not for school but for life we learn.)

The Spence School’s Benefits

The Spence School offers a dynamic and supportive work environment, competitive salaries and a generous benefits package including a retirement plan, paid vacations and a full complement of health benefits.

Spence is committed to an equitable and inclusive program and a diverse faculty, staff and student body. Candidates from diverse backgrounds are therefore especially encouraged to apply.

The Spence School is an Equal Opportunity Employer.

Employment Background Check

For the candidate of choice, a thorough background check including a criminal and financial background check is required as a condition of employment.

Target Hiring Salary Range

This position is expected to pay an annual salary in the range of $450,000 – $500,000. The final compensation offered to the candidate of choice will be determined based on work experiences, qualifications, and leadership skill sets.

Contact Information

The Spence School has retained the executive search firm of DEERFIELD ASSOCIATES to conduct this search. Nominations and recommendations of top tier talent are encouraged, with referrals sent to our search consultant.

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 including contact information (email and cell) for 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: jobs@deerfieldassociates.com