Luther College Lutheran Church issued the following announcement on Dec. 2.
Luther College President Jenifer K. Ward has announced the appointment of Andrew N. Bailey as vice president for finance and administration at Luther College.
A Luther College alumnus, Bailey started his career in accounting during his student years. He was hired as a staff accountant upon his graduation from Luther, and grew into roles of increasing responsibility in the college's Office of Financial Services. Bailey has most recently served as associate vice president for finance.
Bailey's appointment, effective as of January 1, 2021, concludes an extensive national search for this key role at the college.
As vice president for finance and administration, Bailey will serve as Luther's chief financial officer, responsible for leading and directing financial planning and accounting practices as well as the college's relationships with lending institutions, contractors, and the financial community. Bailey will serve as the financial management officer and advisor to the president on the administrative support operations of the college.
"I know I will have a partner with a deep knowledge of the complexities of higher education finance and how it intersects with every area of Luther College, as well as an appreciation for the promise of a liberal arts education. I am excited to see the ways in which Andrew will turn his steady and strategic eye toward the sustainable future of the college that educated him," said President Ward.
Reporting directly to the president, Bailey will work closely with the other members of the cabinet and will be responsible for the supervision of financial services, human resources (including Title IX), information technology services, facilities, dining services, and the Luther Book Shop.
"My experiences as a Luther student taught me that my future was in mission-driven finance work and that I thrive when contributing to the shared goals of a close-knit community," said Bailey. "My career has affirmed those lessons, and I am honored and excited to elevate my service to the institution I credit for my own transformation."
At every stage of his career at Luther, Bailey has conducted initiatives to improve operational efficiencies and achieve mission-driven goals.
"During my initial weeks as Luther's president, I observed Andrew in action speaking to our sophomore students about their next steps. From his vantage point in Financial Services, Andrew has always understood that retention and support of our students is a shared responsibility at Luther College," said President Ward.
Most recently, Bailey has played a key role in navigating the effects of the COVID-19 pandemic on the college budget.
"Luther College is currently in a time of challenge and disruption, and that means Luther College is currently in a time of opportunity. During this time of creativity and potential, I am excited to facilitate the alignment of financial and strategic plans that address short-term challenges and support the long-term financial sustainability of the college," Bailey said.
Bailey has been involved with student life, retention, and well-being through many special projects and committees. He has chaired the Invigorate Work Study Committee since 2019, which has resulted in changes to the college's work study program to foster greater student growth and development as students earn money for their studies and contribute to the college's operations.
During his first years in accounting at Luther, Bailey implemented an institutional purchase card program. As Luther's grants and special projects accountant, he developed financial models that enabled the addition of a 280 kW solar array and a 1.6 MW wind turbine at the college, important steps toward achieving Luther's ambitious sustainability goals.
As senior accountant, Bailey crafted a five-year budget model that projects future operating budgets based on historical trends, contracted service agreements, and future plans. As assistant controller, he helped renegotiate a major contract for dining services, achieving significant cost savings for the college.
Bailey holds a Bachelor of Arts in accounting from Luther College and is a Certified Public Accountant.
Bailey succeeds Interim Vice President Ken Westphal and Vice President Eric Runestad, who served in the role from 2015 to 2020.
Original source: https://www.luther.edu/headlines/?story_id=930075
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