The Division of Financial Affairs (DFA) is led by Vice President for Financial Affairs and University Treasurer Gerald L. Hector. Reporting to Executive Vice President and Chief Financial Officer Joanne M. DeStefano, Mr. Hector directs the functions of the university controller, sponsored finance, procurement, risk management and insurance, the university treasurer, university tax, communications, and university policy. DFA provides central financial functions in support of the university’s academic mission.
Mr. Hector previously served as vice president at Ithaca College, the chief business officer for all activities related to business, finance, and administration. He managed a budget of $230 million, with overall assets totaling $759 million. His accomplishments include replacing the incremental budget model with a more strategic zero-based model, implementing a 10-year master plan for facilities, instituting a five-year deferred maintenance strategy, directing the creation of the college’s first-ever strategic plan for information technology, and refinancing several tranches of debt.
Prior to his work at Ithaca College, Hector was vice president for business and finance at Johnson C. Smith University. While there, he managed a $46 million budget, with total assets of $127 million, a growth of 27 percent during his tenure. He also created a cash reserve of more than $10 million in four years while strengthening the balance sheet and overall financial health of the institution.
Previously he was corporate controller for the United Negro College Fund (UNCF), where he was responsible for reforming a number of financial practices and policies and creating the initial budgets for the landmark $1 billion Gates Millennium Scholars program for outstanding minority students.
Mr. Hector has a bachelor’s degree in business administration with honors from Howard University. He has also earned professional development certificates from Harvard University, Yale University, and the University of Kentucky, and is a certified public accountant. He is pursuing a master’s degree in Christian thought from Gordon-Conwell Theological Seminary in Charlotte, North Carolina.
He shares his expertise on how to navigate the changing tides in higher education with boards, presidents, and trustees and at higher education conferences, such as NACUBO, EACUBO, and AACRAO. He is also a peer reviewer for the Southern Association of Colleges and Schools, and speaks on a number of radio talk shows, webcasts, and podcasts.
