HFC welcomes Director of Financial Planning and Analysis Michael Takach

Release Date
Michael Takach is sitting at his desk, smiling.

The HFC Board of Trustees has appointed Michael Takach as the new Director of Financial Planning and Analysis.

“Having worked in the Allen Park area for many years, I was familiar with HFC and came to understand what a valuable community resource it is,” said Takach. “I had co-workers who attended HFC or whose children attended HFC. I thought the role would be a natural progression for my career. It’s exciting to work for an organization with such a virtuous purpose.”

Takach replaces Bryan Bame, who retired at the beginning of January, and reports to HFC Interim President Dr. Lori Gonko. He brings nearly 27 years of experience to his new role. His duties include:

  • Supporting the development, coordination, and supervision of the College budget.
  • Managing the College’s cash flow and investment functions.
  • Coordinating capital planning budgets.
  • Overseeing bond issues and relationships with debt holders.
  • Monitoring the year-end review of benefit programs to assess cost and budgetary impact.
  • Managing retirement programs.
  • Supporting the College in collective bargaining efforts.

“I welcome the opportunity,” said Takach. “I was fortunate to spend a couple of weeks with Bryan Bame, getting up to speed. I am excited to gain institutional knowledge, dig into my role, and meet all of my wonderful coworkers at HFC.”

Gonko is pleased to have Takach join the financial leadership team.

“During times of transition, it is especially important to have teammates who bring expertise, collaboration, and a willingness to step into the unknown work ahead,” she said. “I am pleased to welcome Michael to our team. His thoughtful approach to budget management will help ensure our financial decisions are guided by fiscal responsibility and remain aligned with our shared commitment to student success.”

Results-oriented professional with 27 years of experience

The youngest of two, Takach was born in Middletown, OH. He lives in Livonia with Stephanie, his wife of 10 years, and their two children.

Takach earned his bachelor's degree in finance from the University of Toledo, graduating cum laude. He later earned his MBA from Bowling Green State University. He is a Six Sigma Green Belt through the Acuity Institute and a Certified Change Master through Prosci.

Takach has always been fascinated by the metrics and intricacies of different industries. He spent the majority of his career in retail. Prior to coming to HFC, Takach worked for Belle Tire in Allen Park, Pet Supplies Plus in Livonia, and automotive supplier Meritor in Troy.

“I have been able to participate in strategic projects and decision-making that helped shape the trajectory of my last two companies,” said Takach. “I led one company's efforts to restructure our consumer payments platforms in a multi-year project. This required collaboration between multiple departments, external companies, and other stakeholders. It completely reshaped the depth and quality of financing products we were able to offer our customers, while also giving more customers access to credit who would have not qualified previously.”

Excited to work for an organization that changes people’s lives

Takach spoke about the differences and similarities between retail and higher education.

“One of the biggest differences is the emphasis on profits, shareholder value, and customer acquisition,” he said. “In the private sector, these are the overarching fundamentals that drive decision-making, and you may pivot quickly to maximize profits and value. Education moves at a different pace, because its ultimate goal is providing a valuable resource that greatly benefits the community, the region, and the student body. Education is more focused on a strategic plan that spans multiple years and more involved decision-making. Still, a college is also a business. They have to manage a budget and operate using many of the same principles. Structurally, they can have common operating departments like Human Resources, Marketing, Finance, IT, Legal, and Operations. They face many of the same obstacles and challenges.”

Overall, his transition to HFC has been smooth.

“It is a good feeling to know you are supporting an organization that can literally change people’s lives,” he said. “I also enjoy being connected to the different departments at the College and involved in the strategic planning process.”