Our Departments

Fisheye Overhead of BU Campus

The Office of the Senior Vice President, Chief Financial Officer and Treasurer reports to the Office of the President.

Office of the Controller

The Office of the Controller is responsible for maintaining the accounting records of the University, providing accurate and timely financial reporting, and ensuring the protection of the University assets by establishing and maintaining adequate internal controls. The departments within the Office of the Comptroller are Cashier Services, Collection Department, General Accounting and Financial Reporting, PayrollResearch Financial Operations, Strategic Financial Initiatives, Student Accounting Services, Student Loan Accounting.

Continuous Improvement & Data Analytics

The Continuous Improvement & Data Analytics team uses recognized frameworks to execute, lead, and advise on projects and initiatives in support of stakeholders in Financial Affairs and across the University. Our Continuous Improvement department executes internal consulting projects with a focus on implementing and improving business processes, creating efficiencies, and helping leadership execute strategic goals. The Data Analytics department provides insight to stakeholders using financial, operational, and research data by automating reporting processes, developing visualizations and dashboards, forecasting, and more.

Debt and Treasury Management

Debt and Treasury Management supports the University’s mission by providing financial services and consulting to academic and administrative units across the University. The primary objective of the unit is to ensure consistent, prudent and cost effective stewardship of the University’s working capital and borrowing resources. Activities of Debt and Treasury Management include day to day cash management, administrative support for the University’s Development and Investment Officers, cash forecasting and reporting, financial analysis and advisory to support new construction and maintenance capital spending needs, and debt issuance and ongoing debt portfolio management. The Office monitors credit market/financial and liquidity risks related to working capital and debt arrangements. The Office develops and oversees the University’s relationships with key financial service providers and also with other external constituencies including rating agencies and state bond issuance authorities.

Internal Audit & Advisory Services

The primary function of Internal Audit & Advisory Services is to assist University management and the Trustees in achieving the University’s operational, financial, and information technology goals. Our audit reviews are designed to ensure that the University is functioning in the most efficient and cost-effective manner, that accounting, administrative, and information technology controls are adequate and effective, and that all University policies and procedures as well as Federal and State regulations are appropriately followed and understood.

We perform our reviews based on an annual audit plan, as well as at the request of University management, Deans, Department Heads, and other University personnel. We are also available as internal consultant for questions and concerns regarding new programs, administrative procedures, and other internal controls.

Risk Management

Risk Management actively manages Boston University’s loss exposures by identifying the types of fortuitous losses faced by the University, analyzing the different types and sizes of these loss exposures, and deciding how to handle and finance these losses through a combination of insurance, self-insured retentions, risk avoidance, risk transfers and effective claims management of the losses that do occur. The Office arranges and annually reviews the adequacy and terms of the University’s insurance coverages in the following areas i) Worker’s Compensation, ii) General Liability, iii) Umbrella and iv) Property, including boiler and machinery and business interruption. The Office manages all claims related to these insurance coverages. The Office also arranges and overseas the student health plan offerings.

Procure to Pay

Procure to Pay is a newly established department that will serve as a single point of contact for all vendor-related inquiries and payment matters. Throughout the transition, please utilize the individual websites as a resource for each area.

Sourcing & Procurement is responsible for the strategic procurement of goods and services to support the education and research mission of the University. The primary goal is to service the University community by facilitating the timely acquisition of high quality goods and services at competitive prices. The professional staff within Sourcing & Procurement continues to develop new or revise existing strategic partnerships with key suppliers to address the changing needs of each University department.

Travel Services is responsible for any help needed in booking travel, including advice on policies and guidelines. Travel and expense reports for Charles River staff and faculty are processed in the travel section of the disbursements office.

Accounts Payable makes non-payroll payments, such as those to vendors or for employee travel advances.


All Departments

A full list of offices and departments in Financial Affairs follows.