Tag: IT Risk assessment

Client Description:

Private Faith Based University

Client Opportunity or Challenge:

• The client has been experiencing eroding revenues and escalating costs, which were not clearly and consistently acknowledged and discussed with Board of Trustees
• Client terminated several leaders including the President, COO/CFO
• Client required a quick assessment of organization capacity to perform, along with recommendations to get back on track
• Client required revised budget for upcoming fiscal year, and it had to be developed in a collaborative way
• Client required revised debt structure to accommodate changes in business environment

Role:

Interim COO/CFO

Outcomes or Benefit:

• Served as interim COO and CFO and instituted many remediative processes
• Provided Board with strategic analysis of the University within the first three weeks to set the case and path for immediate change
• Devised and launched collaborative budget process resulting in a reduction of operating budget by approximately 15%
• Restructured existing debt arrangements
• Identified significant risk in the Information technology area
• Established capital monitoring for new and significant classroom building on campus
• Evaluated sale of excess real estate assets
• Mothballed several dormitories to reduce operating costs
• Advised interim and incoming president on strategic and urgent matters and built and executed plan to deal with urgent maters
• Restructured Finance and accounting organization
• Developed cash management and forecasting capability
• Performed analysis of outsourcing several functions, and selected several that proved to both increase service levels and reduce costs

NOTE:

Client names are not used because of Client privacy and Confidentiality Agreements.  Similarly, facts are cloaked to preclude people from deducing the Client name or situation.