Kate Smith, controller at Maryville University in St. Louis, Missouri, brings a wealth of experience in transforming higher education finance through innovative approaches to data and modeling. In this episode, Smith shares her journey from public accounting to higher education, including her work with nonprofits, an 8-year stint at higher ed marketing firm mStoner, and her role as controller at Logan University before joining Maryville’s team of 10,000 students.
Smith emphasizes the critical shift happening in higher education finance, moving from traditional historical reporting to forward-thinking financial planning and analysis (FP&A). She discusses how modern financial leaders must focus on predictive modeling and future scenarios to support institutional decision-making effectively. Drawing from her experience implementing financial tools at both small and large institutions, Smith provides practical insights on modernizing financial operations while working within existing constraints.
The conversation explores the vital role of professional networks in higher education, with Smith’s own career trajectory serving as a testament to the power of relationship building. She shares her approach to team development, seeking out curious minds who question processes and aren’t afraid to take calculated risks. Smith also discusses how finance leaders can support institutional growth while maintaining agility in their operations.
Key Takeaways:
- Financial leaders must shift focus from historical reporting to predictive analysis
- Technology modernization can be approached incrementally based on institutional needs
- Professional networking creates unexpected opportunities throughout your career
- Successful finance teams balance risk-taking with mission-driven decision making
The episode offers valuable insights for both emerging and established higher education finance professionals, highlighting the evolution of the field and the importance of embracing change while maintaining strong financial fundamentals.
