Lisa Frace

Lisa Frace is the Senior Vice President, Chief Financial Officer, and Treasurer at Michigan State University, a role she assumed in May 2021. She is responsible for managing the university's finances and developing a long-term financial strategy aligned with MSU's strategic priorities. Frace is leading a financial management transformation focused on modernization, including the implementation of a new budget model for campus-wide adoption. She oversaw MSU’s $500 million century bond issuance in 2022, securing strategic investment funds for the institution.

Frace has more than 20 years of experience in higher education finance, having held senior positions at the University of California, Davis, and Arizona State University. Before transition to higher education, she worked in the private sector, where she gained experience in strategic planning, financial management, and treasury operations. Throughout her career, Frace has led efforts to reimagining financial processes, optimize budgets, and integrate resource allocation with institutional strategy.

In 2017, Frace received the Rising Star Award from the National Association of College and University Business Officers (NACUBO). She has served on the NACUBO board and as an instructor for its New Business Officer program. Frace has also been actively involved in the Western Association of College and University Business Officers (WACUBO), where she has served on the board, held leadership roles in professional development, and worked as an instructor.

Frace holds 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 completed the executive program at the Darden Graduate School of Business Administration at the University of Virginia.