Money Man

Randy Wilson's interest in business began early in his life. As a youngster growing up in Wauwatosa, Wisconsin, this senior associate dean for finance and budget received several shares of stock from his banker brother-in-law. "My mom liked to tell people that when I was a kid I would read the financial section of the Sunday paper while other children my age were clamoring for the comics!" he shares.

Wilson parlayed his childhood fascination with the financial world by earning a business administration degree from the University of Wisconsin at Milwaukee and developing a well-rounded career, encompassing planning, budgeting, auditing, and financial analysis. Bringing almost 30 years of experience to Northwestern, he joined the Feinberg School of Medicine in January. Working from his office in Abbott Hall, Wilson oversees a department of eight that is focused on the smooth financial operation of the medical school.

Wilson and his staff help the Feinberg School achieve its financial and budgetary goals by managing the budget process for clinical and administrative units as well as overseeing and maintaining the school's financial forecast model and capital spending plan. The medical finance department also plays an important role in reviewing selected financial and payroll transactions to ensure compliance with University policy and procedures. Wilson serves as one of the school's liaisons with the University's central business and finance units, representing the school's interests in regard to institution-wide initiatives such as "Project Café"—the strategy that will replace the CUFS system. In fact because of this close relationship, a typical work week has Wilson taking the shuttle bus back and forth between the two campuses regularly.

"We use central administration services from accounting to payroll. Contrary to popular belief, I don't handle employee paychecks," chuckles Wilson. While he may not handle the money that likely matters most to the employees of the medical school, Wilson does keep close tabs on the financial performance of the Feinberg School's annual operating budget of $360 million. Grant monies, such as National Institutes of Health (NIH) awards, make up a significant portion of the budget. In fiscal year 2005, for example, Northwestern received $123.8 million in highly coveted NIH grants ranging from research and training grants to fellowships and research and development contracts. The medical school was ranked 34th out of 123 for the highest total amount of dollars awarded by the government agency.

"I enjoy the application of accounting and financial reporting and planning in moving businesses forward," shares Wilson. "In any operation—for-profit or not-for-profit—a financial component exists to everything that an organization does or hopes to do. When people say it isn't about the money, it is often about the money."

Wilson's broad professional experience meshes well with the medical school's needs and the institution's desire to grow into a top-tier institution. He brings to Northwestern a wealth of knowledge in health care financial management. Wilson worked most recently for the University of Colorado Hospital in Denver, where he served as director of finance and controller. Prior to that, he was the controller for University Physicians, Inc., the multispecialty physician group practice for faculty members of the University of Colorado's School of Medicine.

"I look at the three key entities of an academic medical center—hospitals, physician practices, and medical schools—as sitting at a triangular table," remarks the certified public account. "By coming to Northwestern, I have changed positions at the table." This new seating arrangement has provided Wilson with a different view enhanced by a thorough "insider" understanding of what is required for successful collaboration. "I can relate to the various perspectives of the groups and the roles they play in the medical center community," he says. " I have empathy for everyone involved."

The numbers are looking good to Wilson (right) and assistant Christian Elsberry as they review financial transactions.

Expanding on his professional growth early in his career, Wilson traveled the country to pursue job opportunities and serve clients as a consultant. His resume reveals stints in Wisconsin, Texas, and Massachusetts. Then in 1991, "there was the introduction of love" into his professional portfolio, according to Wilson. "Although I met my wife, Polly, in Boston, she is originally from Denver," he says. "As a two-career family, we coordinate our job moves. So when the position at University Physicians came to my attention, it seemed not only a good fit with my background but also a natural for us to relocate to Colorado." Polly, a clinical nurse specialist, now works for a health plan in Chicago's Loop.

Although the Wilsons enjoy all manner of athletic pursuits including running, biking, and skiing, the allure of Northwestern and its location was enough to convince them that a move to the Windy City couldn't be passed up. "We are very urban people, and Chicago definitely fits the bill," says Wilson, a runner who has twice completed the New York City Marathon. "We enjoy all the city has to offer, and I particularly like walking and not driving to work."

Making his home in a new city and working at a new job has brought much change and excitement to Wilson's life in recent months. So far he has enjoyed capitalizing on his expertise and enthusiasm for business and strategic planning and contributing to Northwestern's efforts to expand its missions. "I also hope to enhance the high level of customer service already established in the Department of Finance and Budget," says Wilson.

"From a philosophical standpoint, we can never lose sight of the fact that people such as faculty members and department administrators are our customers. We don't exist if they aren't successful. Our job is to help them be more successful by supporting them as they navigate complex accounting procedures or cut through red tape. That's why we are here."