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Lisa Frace

Senior Vice President, Chief Financial Officer and Treasurer

Lisa Frace is the inaugural senior vice president, chief financial officer and treasurer at Michigan State University, a position she assumed in May 2021. In this role, she is responsible for managing the university's finances and developing a long-term financial plan in line with the university's strategic priorities. Lisa is leading MSU's financial management transformation focused on modernization including the implementation of a new budget model for campus-wide adoption. Most notably, she issued MSU’s $500 million century bond in 2022, which provided strategic investment funds for the institution.

Lisa has more than 15 years of experience in higher education finance, having held senior positions at the University of California, Davis, and Arizona State University. Before joining higher education, she had over 20 years of experience in private sector industries, with a background in strategic planning, financial management, and treasury. During her career, she has led the re-imagining of financial processes, budgets, and integration of resource allocation with strategic vision.

Lisa received the Rising Star Award from NACUBO in 2017. She has been active in the Western Association of College and University Business Officers (WACUBO), where she has served on the board and in professional development leadership roles, as well as an instructor. She also served on the board of the National Association of College and University Business Officers (NACUBO).

Lisa received a bachelor’s degree in health planning and administration and a master’s degree in business administration with concentrations in marketing and finance from Pennsylvania State University. She also attended the executive program through the Darden Graduate School of Business Administration at the University of Virginia.


Reporting Units

  • Controller's Office
  • Risk Management and Insurance
  • Sponsored Program Administration/Office of Sponsored Programs/Contract and Grant Administration
  • Treasury and Financial Management
  • University Services
Headshot of Lisa Frace