Tungseth named VPFA at Central College

Central College

PELLA (IOWA)–President Mark Putnam and the Central College community announce the appointment of Margaret Tungseth as the vice president for finance and administration/treasurer (VPFA) at Central College.

Tungseth, a CPA, most recently served as the assistant treasurer and director of risk management and as an adjunct faculty member in the business/economics department at Concordia College in Moorhead, Minn. She officially begins her duties Monday, Sept. 19.

“Margaret has demonstrated strong leadership at the campus, national and international levels,” said Putnam. “The scope of her experience both inside and outside of higher education, along with her national association leadership and involvement in important global conversations surrounding this discipline, are essential to our continued progress as we develop strategic initiatives, address financial opportunities and challenges, and ensure fiscal stability.

“She understands the liberal arts college setting very well. We are delighted to welcome Margaret and we look forward to her energy, passion and perspective as she teams up with our senior leadership team to advance the Central College mission and strategic goals.”

Tungseth has 15 years of experience at Concordia where she also served as deferred gifts accountant and insurance administrator. In her recent role as assistant treasurer she administered an endowment of approximately $80 million and a deferred gift program of more than $40 million, while overseeing restricted and unrestricted investments of the college totaling more than $155 million. As director of risk management, she worked closely with the global education department in developing policies, procedures, forms and best practices for overseas travel.

Tungseth earned her master of business administration (MBA) degree with emphasis in accounting and finance from North Dakota State University in Fargo, N.D. She also earned a Bachelor of Science degree in accounting from Minnesota State University Moorhead, a Bachelor of Arts degree in economics and political science from Concordia College, and is in process of obtaining her certified risk manager (CRM) and associate in risk management (ARM) designations.

Nationally, Tungseth served as president of the University Risk Management and Insurance Association (URMIA) from 2009-10 with additional roles as treasurer, board member, executive committee member as well as a member of the national conference planning, oversight and affiliates committees. Outside of higher education, Tungseth has experience as a staff accountant and accountant at three firms, in addition to being a self-employed accountant for 11 years.

Tungseth has presented at multiple conferences including the Australian Risk and Insurance Management Higher Education Conference in 2007 and 2010; the URMIA national conference in 2005 and 2006; and for the Minnesota Planned Giving Council in 2004 and 2006. This year, she also represented URMIA at the United Kingdom finance directors’ conference at the University of Warwick as well as the European Universities Association at Aarhus, Denmark. Published in the URMIA Report and URMIA Insights, she has served as a contributing author to white papers and as a member of the AJ Gallagher Higher Education Think Tank on University International Travel – Managing the Risks.

An active participant in her community, Tungseth stepped into leadership roles for the Fargo-Moorhead Chamber of Commerce and YMCA; as Superintendent of Triumph Lutheran Church Sunday School; and as founder and treasurer of Agassiz Master’s Soccer Association. In 2006, she was a nominee for the WYCA radio’s woman of the year in business.

At Central, a residential, private liberal arts college, Tungseth will build on the outstanding success of the college through innovation, teamwork, transparency and collaboration among and between all college constituencies. Working with Putnam and the senior leadership team, Tungseth will provide leadership in a broad range of financial and administrative areas including all business, finance, budget and treasury functions, and oversee administrative operations including facilities, information technology, human resources, dining services, and conferences and events.

“I am honored and excited to join the Central College community,” said Tungseth. “It is a great privilege to serve under President Putnam’s leadership together with students, faculty and staff. Central College is a liberal arts college on the move as it continues to develop outstanding programs and explore innovative and sustainable, future opportunities. I am eager to join the Central community at a time where we will be building on that momentum.”