Chief Financial Officer

POSITION OVERVIEW

Quad Partners is moving to provide overall greater integration and support among its higher education portfolio companies by adding a Chief Financial Officer, who will be part of the senior leadership team at Quad in a matrixed reporting structure. Quad’s leadership culture is one that is both collegial but also highly entrepreneurial and rigorous.

The CFO will work closely with the portfolio companies to significantly upgrade the financial operations at each institution. The goal is to bring a level of sophistication and an application of best practices, especially in the areas of KPIs, modeling, forecasting, and budgeting, and shared services across the entire Quad portfolio of schools. The CFO will work closely with the CEOs and VPs/Directors of Finance for each of the higher education portfolio companies to solve problems and establish new levels of financial expertise across Quad’s higher education holdings.

Does this sound like the opportunity for you? Read on...

THE COMPANY

Founded in 2000, Quad Partners set out to build a different firm – one with a unique focus, operational expertise, and partnership culture. Today it is one of the most active investors in the education industry, driving value-creation with a team of experienced investors and operators working with passion, transparency, and integrity.

Quad Partners has invested in 25 platform education companies and over 60 add-on acquisitions. Currently the firm is investing its fourth fund – $200 million of committed institutional capital.

Quad Partners invests in all aspects of the education industry – schools, colleges, products, services and technologies that are employed across the age spectrum. The firm acquires privately owned businesses, invests capital for growth, provides liquidity for shareholders and facilitates spinoffs from corporate owners. Quad Partners seeks to invest $5 million to $40 million of equity capital per situation and has the capacity for more via limited partners.

Current Portfolio Companies

BECKFIELD COLLEGE
Beckfield College operates two career colleges in Ohio and Kentucky. Founded in 1984, Beckfield offers bachelor and associate degrees in nursing, medical assisting, paralegal, criminal justice and business.
http://www.beckfield.edu

BLUE CLIFF COLLEGE
Founded in 1987, Blue Cliff College operates seven career schools offering associate degrees and diplomas in health care, massage therapy, cosmetology, and HVAC in Louisiana, Mississippi and Arkansas.
http://www.bluecliffcollege.com
http://www.bluecliffcollege.com

DORSEY
Founded in 1934, Dorsey operates nine career schools in suburban Detroit. Dorsey offers certifications for the medical, culinary arts, business, legal, and computer fields.
http://www.dorsey.edu

PACIFIC COLLEGE OF ORIENTAL MEDICINE
Founded in 1986, Pacific College of Oriental Medicine operates three campuses in San Diego, New York City and Chicago, offering degrees in Oriental medical and body therapy education.
http://www.pacificcollege.edu

SWEDISH INSTITUTE
The Swedish Institute offers degrees in massage therapy, advanced personal training, nursing, medical assisting and surgical technology. Founded in 1916 in New York City, Swedish is the oldest massage therapy college in the country.
http://www.swedishinstitute.edu

THE POSITION

Quad Partners is moving to provide overall greater integration and support among its higher education portfolio companies by adding a Chief Financial Officer, who will be part of the senior leadership team at Quad in a matrixed reporting structure. Quad’s leadership culture is one that is both collegial but also highly entrepreneurial and rigorous.

The CFO will work closely with the portfolio companies to significantly upgrade the financial operations at each institution. The goal is to bring a level of sophistication and an application of best practices, especially in the areas of KPIs, modeling, forecasting, and budgeting, and shared services across the entire Quad portfolio of schools. The CFO will work closely with the CEOs and VPs/Directors of Finance for each of the higher education portfolio companies to solve problems and establish new levels of financial expertise across Quad’s higher education holdings.

Specific responsibilities and expectations include the following:

• Advise and assist in upgrading each higher education portfolio company’s accounting practices, including accounting, budgeting, financial reports, taxes and audit functions for all campus locations.
• Analyze the effectiveness of financial operations across the schools to maximize return on investment and effectiveness.
• Work closely with the new CMO to establish best practices and standards for marketing budgets and financial analysis of results.
• As needed, provide input and analysis to Quad Partners as they research, identify, and analyze new acquisitions.
• Advise and assist compliance with all regulatory agencies, including working with outside auditors in preparation of annual financial and compliance audits.
• Advise and assist in managing financial aid programs and all associated transfers of funds between the company and the federal government’s Title IV.
• Assist with financial strategy, planning and forecasting.
• Advise and assist to synthesize and generate financial reporting for outside accounting firm(s), ownership, CEO, COO and department heads.
• Advise and assist to prepare financial analysis for contract negotiations and corporate investment decisions. Manage procurement process for meaningful equipment acquisition or major contracts.
• Assist in refining and/or establishing policies, procedures, internal controls, and analytical processes to ensure timely and efficient execution of finance, accounting and financial aid related objectives.

THE CAREER OPPORTUNITY

For an experienced financial executive with relevant skills, this opportunity offers several attractive features:

• The opportunity to join the executive team of Quad Partners, one of the top PE firms in the education sector, and have a “seat at the table.”
• The opportunity to define and develop a new cross-company program for achieving financial excellence across the higher education portfolio companies.
• The opportunity to work in a high growth, fast-paced environment with a track record of success.
• The opportunity to develop senior-level executive skills that open up future career opportunities within the company.
• The opportunity to do all this without the requirement of relocation.

THE IDEAL CANDIDATE

The ideal candidate has financial leadership experience in the for-profit higher education sector with multi-location campuses. The ideal candidate brings a strong strategic financial skill set and, in particular, deep expertise in the federal government’s Title IV and other programs. He or she has worked with the CEO, COO, VP’s of Finance and other corporate executives, as well as Campus Presidents, to oversee all company accounting practices, including accounting, budgeting, financial reports, taxes and audit functions for the school. S/he has also helped to maintain accreditation and Title IV compliance. Importantly, this individual has a strong operational background—and can “roll up the sleeves” when needed.

Specifically, he or she has –

• High energy, financial and operational skills, work ethic, and integrity
• An extensive background in financial management with particular strengths in the areas of financial statement preparation, budgeting/forecasting and planning, financial analysis, internal controls, process improvement, and cash management
• A strong operations management foundation—capable of working with the finance leaders of the portfolio companies in a variety of functional areas to build a powerful operational foundation at each school
• Facility with data—its sources, aggregation, and application to allow the schools and others to make enlightened decisions in a variety of functional areas, including new campus rollouts and program development and marketing
• A management style that is decisive and entrepreneurial; strong conceptual, creative, and problem-solving skills; a self-starter who is capable of managing his/her time and priorities effectively while successfully accomplishing planned objectives
• A track record of exerting strong fiscal control (appropriately managing/conserving cash) and driving EBIT bottom-line growth
• Specific experience with Title IV and other financial aid programs, regulatory compliance, revenue recognition, reviewing account reconciliations, and pro-forma analyses
• Experience developing and implementing financial processes and procedures that are scalable as an organization grows; experience managing finances for a multilocation school
• Experience bringing a strategic level of leadership to the finance function, serving as financial strategist while managing the day-to-day requirements of a finance department
• Superior business and financial analytical skills--success with timely monthly financial reporting, detailed financial analysis, and the preparation of ad-hoc reports and analyses, cash flow planning, and management
• Experience working with external parties, e.g. private equity investors, bankers, consultants, and independent accountants; experience reporting on, and monitoring compliance with, bank covenants; M&A experience would be valuable
• A bachelor’s degree in Accounting, Finance or a related field; a Master of Business Administration degree and/or designation as a Certified Public Accountant would be a plus

Culturally and temperamentally, the ideal candidate is a team player who believes that individual success flows from the overall success of the organization. This involves a range of personal attributes - flexibility and adaptability; a great work ethic; leadership with minimal supervision; an ability to analyze and evaluate one’s own (and other’s) performance and to develop plans to improve performance; excellent presentation skills; willingness to take responsibility for both success and failure—a thick skin; self-confidence and a positive attitude about self, company, and marketplace; effective listening and questioning; sincerity, trust, believability, and warmth; and a strong desire for success.

COMPENSATION

Compensation will include salary, performance bonus, and significant equity commensurate with the individual’s experience.

TRAVEL

Travel to the corporate office and to portfolio companies could be as much as 50% in a year.

INTERVIEW PROCESS | BACKGROUND CHECK

Quad Partners has an Employment Application, Work History and Background Check (provided to candidates). The background check includes compensation verification, professional references, employment and education verifications, state and federal criminal history reports, and drug screen.

CONTACT

Resume should be sent as a Word document to Ralph Protsik and Todd Hand, and also posted on the BSG website, www.bsgtv.com. No phone calls please.