Former UNC-Pembroke vice-chancellor appointed AVP for finance
UNIVERSITY PARK, Pa .– Virginia Teachey, a financial management professional with over 25 years of higher education experience, has been appointed Associate Vice President of Finance effective December 1. Teachey’s most recent post was as Vice Chancellor of Finance and Administration at the University of North Carolina at Pembroke.
Working within the Office of Finance and Business, Teachey will report to Sara Thorndike, Senior Vice President of Finance and Business / Treasurer. Teachey will succeed Joe Doncsecz, who will retire on December 31, 2022.
âI am delighted to welcome Virginia Teachey to the Office of Finance and Business,â said Thorndike. âHis many years of financial and operational experience at institutions of higher education will be an invaluable asset at Penn State. I look forward to working with Virginia to find ways to optimize the University’s financial assets and processes for the future.
As AVP for the role of Finance, Teachey will lead the Office of the Corporate Controller and efforts to improve financial and business operations in the units and campuses of the University, as well as oversee the development and implementing university-wide cost reduction initiatives.
Teachey brings to the role over two decades of successful financial and operational management experience, including business risk management, strategic planning, policy development and implementation, facilities management, audit and compliance.
âHigher education institutions are facing unprecedented challenges due to the pandemic and the current economy, as well as demographic shifts, state funding issues and declining public confidence. . These challenges forced us to be flexible and adapt to a constantly changing environment, âsaid Teachey. âI firmly believe that challenges offer opportunities for innovation. It will be exciting to work with a team to capitalize on these opportunities while ensuring fiscal responsibility and balancing progress. I have admired Penn State for years and am honored to have the opportunity to work at such a prestigious university with some of the brightest minds in higher education.
As Vice Chancellor of Finance and Administration at the University of North Carolina at Pembroke, a position she had held since 2019, she was responsible for a budget of over $ 176 million and a $ 32 million endowment. His responsibilities included facilities, general campus planning, financial administration, information technology and human resources. As vice-chancellor, Teachey reported directly to the institution’s chancellor and mastered a variety of accomplishments, including the launch of a digital business services portal for the University; modernization of IT infrastructure through investment; work with credit bureaus to save $ 2.7 million in gross campus cash flow and implement COVID-19 mitigation strategies. Teachey was also responsible for reporting to the board of directors and external stakeholders on financial, risk and management plans.
Prior to her position at UNC Pembroke, Teachey served as Assistant Dean of Finance and Business Management at the College of Engineering at North Carolina State University from 2010 to 2019, where she was responsible for developing and launching a financial plan. long term with growth strategies; implement and evaluate management controls, policies and procedures to ensure compliance; and serve as a liaison with the board of directors on critical issues. Teachey also previously served as chief financial and administrative officer, managing a $ 210 million operating budget in the state of North Carolina. In this role, Teachey developed and implemented a long-term financial plan to analyze financial information and develop growth strategies, resulting in a $ 52 million increase in funding and an increase of 22 million. % of faculty.
Prior to her position as Assistant Dean, Teachey was Associate Director of Finance for University Housing, Greek Life and Caldwell Fellows at North Carolina State University from 2007 to 2010. In this role, Teachey served as Chief Financial and Administrative Officer while managing an operating budget of approximately $ 44 million. Teachey has overseen a full range of tax affairs including financial planning, accounting systems / procedures, structures / controls, budgeting, management, treasury, compliance and expense tracking.
In addition to her administrative roles, Teachey was an adjunct professor of business law, corporate communication, and business management at Indiana Business College in Muncie, Indiana from 2005 to 2007. Teachey graduated from an MBA from Anderson University in Anderson, Indiana and a Bachelor of Business Administration from Northwood University in Midland, Michigan.