OU announced the appointment of Matthew D. Brockwell as its new senior vice president and chief financial officer Thursday, pending the OU Board of Regents’ approval.
According to an email from OU President Joseph Harroz, Brockwell has 35 years of experience in the financial services industry, including 21 years as a partner at PricewaterhouseCoopers in its Washington, D.C., New Jersey and New York offices and has served as a member of a variety of not-for-profit boards. He currently serves on the Eagle Bancorp Inc. board of directors. He will begin working in December, if approved.
“At PricewaterhouseCoopers, Matt worked with a wide range of clients, including the United States Federal Reserve System, commercial banks, as well as many private equity and investment management firms,” Harroz wrote. “He also led business units at PricewaterhouseCoopers throughout his career, including those associated with international quality control and advising policy makers on matters related to the 2008 mortgage finance crisis.”
Brockwell earned his BBA in accounting from OU in 1983 and his MBA from Columbia University’s Graduate School of Business in 1992, according to the email. He continued serving at the OU Price College of Business as a member of the Steed School of Accounting Board of Advisors and the Arthur B. Adams Society.
As the new vice president and chief financial officer, Brockwell would lead all areas of the administration and finance department across all three OU campuses, according to the email.
“As CFO, he will oversee vital university-wide work related to our budgets, expenses, accounting, and financial performance,” Harroz wrote. “He will also have oversight of Information Technology, Enterprise Risk Management, Bursar Services and Student Financial Services.”
According to a job listing for OU’s chief financial officer, the individual in the position is one of the top three university executives and reports directly to the OU president. The CFO is responsible for administration of the university’s financial operations, including “the development of a financial and operational strategy with metrics tied to that strategy.” They must also participate in “the ongoing development and monitoring of control systems designed to preserve university assets,” report accurate financial results, monitor the university’s budget and develop long-term financial and operational strategies.
Former Chief Financial Officer Ken Rowe stepped down from the position Oct. 16, 2020, to return to full-time work at the Health Sciences Center. Norman campus Associate Vice President and Chief Budget Officer Stewart Berkinshaw was selected to lead finance, accounting and budget efforts throughout the search for Rowe’s replacement.
Harroz thanked Berkinshaw and Rowe in the email for leading OU financial operations of its three campuses while searching for a new officer. Berkinshaw developed OU’s first multi-year budget and is the chief architect to the Norman campus strategic plan’s financial budget, according to the email. Rowe worked to shepherd the OU Health merger and to enhance administrative information technology systems.
“Both (Berkinshaw and Rowe) have worked to ensure efficient and effective administration of our university’s financial functions,” Harroz wrote. “We are indebted to both for their commitment and expertise, and we are eager to welcome Matt, who will undoubtedly build upon their work to date.”
After “an extensive national search process,” Harroz also thanked the eight members of the OU CFO search committee, chaired by OU Vice President for Executive Affairs Sean Burrage, which attracted 44 candidates. The committee included administrators from the Health Sciences Center, the office of Institutional Equity, the Price College of Business, OU Health Physicians-Tulsa and staff and student representatives.
Harroz wrote Brockwell’s professional preparation and devotion to OU made him an “outstanding option” to lead the university’s administration and finances.
“Throughout the search process, Matt’s love for his alma mater and his earnest belief in our purpose of changing lives through excellence in teaching and research became abundantly clear,” Harroz said. “His expertise and his enthusiasm will help shepherd our university to new heights.”