Indiana Wesleyan University Names New Chief Financial Officer

Indiana Wesleyan University Names New Chief Financial Officer

June 11, 2024 (Marion, IN)–Indiana Wesleyan University announced the hiring of Jeff Rayis to fill the Chief Financial Officer role, replacing Nancy Shoonmaker. Rayis brings a wealth of experience from his last decade working in higher education treasury offices at Michigan State University and Ohio State University.


Rayis is an experienced presenter on topics of emerging financial technology, treasury and financial sales strategies, wealth planning, stock ownership, and budgeting and is ready to contribute to IWU by creating, developing, and implementing breakthrough strategies and programs.


With a start date of July 8, 2024, Rayis looks to begin his role as IWU’s CFO with vision. He stated, “I am excited to be joining a university with the mission, ministry, and positive momentum of Indiana Wesleyan University. I look forward to collaborating with IWU’s leadership, faculty, staff, and students as we strive to uphold the university’s values, innovate with excellence, and make a meaningful faith-based impact both locally and globally. My wife, Julie, and I are encouraged by the vibrant spirit we encountered in every interaction on campus, and we eagerly anticipate becoming active members of the local community.”


While serving as AVP of Treasury and Finance at Michigan State University, Rayis introduced and led work on Blockchain finance applications, including municipal bond issuance. He also introduced and led on the university’s inaugural bond, the first in the state of Michigan. Rayis worked at Ohio State University prior to his role at Michigan State and spent the first 28 years of his career in banking with Bank One and J.P. Morgan in the roles of Executive Sales Director and Senior Vice President, Private Wealth Management Leader, Treasury Services Executive, and Commercial/Corporate Banking Relationship Manager among others.


Dr. Kulaga is eager to work with Rayis saying, “The university is currently growing, and our strong fiscal position is a good fit for the deep experience, opportunities, and innovation Jeff Rayis brings to the table, specifically with Blockchain. I’m excited to get started with Jeff and see how we can continue our trajectory of growth and ensure a strong financial forecast at IWU.”

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