POSITION OVERVIEW:
The Chief Financial Officer (CFO) is responsible for the overall integration of financial thought, discipline, and rigor across all the business practices of the Society. This position is responsible for delivering cost-effective and efficient accounting and financial systems, policies, and processes that meet the current and future business requirements of Society. The CFO is directly responsible for safeguarding assets in accordance with Council policies, recognized and accepted accounting practices, and fiduciary responsibilities.
In addition to participating in a broad range of decisions affecting the Society’s administrative, financial, operational, and program activities, the incumbent is responsible for managing risk and ensuring compliance with financial laws, regulations, policies, and other requirements and ensures that accounts are maintained in accordance with policies and sound financial practices.
The Chief Financial Officer is responsible for managing the Accounting Department in support of developing and implementing financial policies, procedures, budgets, internal and external financial reports for the organization and its affiliated organizations.
The CFO is also responsible for overseeing the audits performed by the Independent Auditors and DCAA Auditors.
The CFO serves as a point of contact with various vendors and government agencies such as banks, IRS, ONR, DCAA, etc.
In addition to participating in a broad range of decisions affecting the Society’s administrative, financial, operations, and program activities, the incumbent is responsible for managing risk and ensuring compliance with financial laws, regulations, policies, and other requirements.
ESSENTIAL DUTIES / RESPONSIBILITIES:
Strategic Operations
- Works in collaboration with the Executive Director, Chief Operations Officer, Board of Directors, and senior leadership team to develop the Society’s financial philosophy and policies in alignment with its short and long-term business plans and works to effectively meet identified goals and objectives and advance the mission and vision of the society;
- Provides accurate, timely, and transparent financial information to the Board of Directors and to field unit leadership in support of their decision making.
- Aligns financial resource allocation with society goals (primarily accomplished through the budgeting process and supported by analytical insights)
- Maintains internal financial controls
- Promptly reports any potential financial risks to the Executive Director and the Board of Directors.
- Coordinates with external financial partners and funders
- Develops Finance team goals that are fully aligned with Society goals;
- Serves as the administrative head of the Departments of Accounting and Sponsored Programs and Compliance. In this role, the CFO will have overall operational responsibility for these departments and will leverage synergies among these departments. The CFO will be expected to provide effective and inspiring leadership by being actively involved in all programs and services and developing a broad and deep understanding of the operational aspects within their sector. Ensures the highest standard of cross-departmental teamwork, transparency, and customer service.
Financial Management and Reporting
- Responsible for overseeing the finances for the organization and its affiliated organizations;
- Presents Interim Financials to Finance Committee (budget variances, account balances, projections, and other information as requested) on a quarterly basis;
- Reports Monthly Financials to the Executive Director, Vice President of Finance, and other Managers;
- Prepares organizational Audited Statements;
- Ensures financial management reporting tools and processes are in place to support the ongoing and future needs of the business with maximized effectiveness and efficiency;
- Generate monthly management reporting package for financial analyses (including year-to-date budget to actual revenues and expenditures) and distribute to all organizational directors with budget responsibility;
- Provide inputs for presentations to the Executive Director and the Board of Directors;
- Develop regular reporting and analyses, including key metrics reports, and conduct ad hoc financial analyses as required;
- Prepare the financial section of the annual report.
Budgeting
- Provides assistance to the Executive Director and other Managers on budget process;
- Compiles the data for the budget;
- Presents budget documents (including a cash budget and a capital budget) to the Finance Committee broken down by sectors and/or projects as appropriate;
- Keeps track of actual vs. budget revenues and expenditures.
Cash and Risk Management
- Oversee the cash management function, including the development of cash flow forecasting (daily, monthly, and annual), managing and maximizing cash flow to ensure sufficient working capital, and providing recommendations for strategic cash usage with related implications;
- Manage ongoing banking/investment management relationships;
- Oversee the Director of Sponsored Programs and Compliance in performance of the annual insurance renewal process and ensure appropriate coverage is always maintained.
- Provide financial input and analyses for the annual benefits renewal process overseen by the Director of Human Resources.
Compliance
- A-133 Audit, Financial (GAAP) Audit, Internal Control testing by Independent Auditor; Incurred Cost Rates, Vouchers, and timesheet audits by DCAA Auditors;
- Maintains the Accounting Manual
- Update accounting policies and procedures.
- Files the quarterly labor reports with DOL
Tax filings
- Responsible for submissions of 990s, 990-Ts, D-20s, and form 5500
- Responsible for overseeing all payroll related tax forms
- Charitable State Renewals
Federal Awards
- Overseeing the financial aspect of administering the federal awards
- Point of contact on financial issues with various gov’t agencies
Self-insurance (health)
- Overseeing financial transactions on the self-funding account for the health insurance
Leadership:
- Encourages and supports staff development and team performance;
- Recruit/retain competent accounting staff; provide leadership, coaching, guidance, and support;
- Oversee professional development plans to assist employees to reach their full potential through the annual performance appraisal process;
- Ensure optimal deployment of resources to achieve business goals.
Other
Manages the Accounting Dept – oversees all financial transactions performed by the Accounting staff;
- Point of Contact for various vendors: Banks, Auditors, Retirement plans, Endowed awards, Employee & Commercial insurances;
- Maintains oversight of all financial transactions performed by the Accounting Staff;
- Performs other duties as assigned.
ESSENTIAL SKILLS AND COMPETENCIES:
- Impeccable integrity and honesty;
- Excellent interpersonal and (oral and written) communication skills and the ability to present in a group setting;
- The ability to engender trust and lead by drawing the best from others.
- Excellent budgeting skills;
- Proficient in Microsoft Office software especially Excel (at an intermediate to advanced level), and other relevant software;
- Strong management, organization, and problem-solving skills with the proven ability to continuously identify and implement practical solutions;
- Demonstrated initiative and ability to work effectively within time constraints;
- Ability to create and maintain institutional policies and processes;
- Demonstrated expertise in non-profit financial management and accounting.
- Demonstrated expertise in GAAP, FAR;
- Demonstrated expertise in the financial aspects of federal contracting business development and capture;
- Demonstrated expertise in the preparation of financial proposals associated with RFPs and RFQs including labor and billing for Time and Material and Firm Fixed Price contracts;
- Demonstrated expertise in contract or grant accounting;
- Demonstrated expertise in the development of indirect rate proposals, incurred cost submissions, etc.;
- Deep knowledge of OMB circulars governing cost principles, administrative requirements, and audits.
Qualifications
Bachelor’s degree in Accounting or Finance is required. Master's preferred. Progressive work experience in managing finances and Accounting Dept in a 501(c)(3) organization is required. CPA IS REQUIRED. A minimum of 5 years of management experience is required.
Relationships
The CFO reports to the CEO and Executive Director, supervises the Senior Projects Accountant, and manages and oversees government compliance and all other work of the Accounting Department. The CFO interacts with all employees at HQ, volunteers, Board members (VP of Finance, Finance Committee, Executive Committee, and Risk Management Committee members), external auditors, various vendors, and members.
LIMITATIONS AND DISCLAIMER:
This job description in no way states or implies that these are the only duties to be performed by the employee occupying this position. Employees will be required to follow any other job-related instructions and to perform other job-related duties requested by their supervisor in compliance with Federal and State Laws.
Requirements represent minimum levels of knowledge, skills, and/or abilities. To perform this job successfully, the employee must possess the abilities or aptitudes to perform each duty proficiently. Continued employment remains on an “at-will” basis. We are an equal-opportunity employer.
We make employment decisions and provide equal employment opportunity without regard to an applicant's or employee's race, religion, color, sex, national origin, age, disability, military status, or any other basis protected by federal, state, and local laws.
If you need a reasonable accommodation in the application or hiring process, please notify us.
This is a hybrid work location position.
Job Type: Full-time
Pay: $160,000.00 per year
Benefits:
- Dental insurance
- Flexible spending account
- Health insurance
- Life insurance
- Paid time off
- Retirement plan
- Vision insurance
Schedule:
Work setting:
Education:
License/Certification:
- CPA Credential (Certified Professional Accountant) (Required)
Work Location: In person