Essential Functions
Reporting to the President/CEO, the CFO will lead a variety of finance, accounting and reporting activities. The Controller will be involved in developing data and analyses in support of presentations to the CEO and board of directors and will work closely with the operational management team.
The CFO will manage the day-to-day finance and accounting operations for the organization with a budget of more than $7 million, including functional responsibility over general ledger accounting, payroll, accounts payable, accounts receivable, and grants administration for their assigned functional areas. The CFO will ensure that Operation ABLE has the systems and procedures in place to support effective program implementation and conduct flawless audits. The CFO will work closely with program leaders and their staffs, not only to educate them regarding finance and accounting procedures, but also to explore how the finance function can better support program operations, including management and reporting on the achievement of performance metrics.
Specific Responsibilities
1. Financial Planning
a. In collaboration with the senior management team, oversee development of the annual operating budget and projections of achievable revenues and expenditures.
b. Oversee budget vs. actual and performance metrics reporting. Regularly apprise CEO and board of directors on achievement of budgetary goals and factors affecting performance. Develop recommendations for corrective actions when evidence arises that indicates budgetary targets may not be achieved.
2. Accounting & Financial Reporting
a. Ensure that finance staff maintains financial record systems in accordance with generally accepted accounting principles, and monitor the appropriate use of all funds in light of donor requirements and / or restrictions.
b. Ensure timeliness, accuracy, and usefulness of financial and management performance reporting for internal management, board of directors, and federal and state funders, foundations, etc.; oversee the preparation and communication of monthly and annual financial statements.
c. Ensure the accuracy of all reported general ledger account transactions and account balances through robust account reconciliation and review processes.
d. Ensure the maintenance of appropriate internal controls for receipt of revenue, expenditure disbursements, and program budgets. Oversee the periodic review of existing finance and accounting policies and procedures, the research of current best practice and adoption as appropriate.
e. Ensure the maintenance of all accounts, ledgers, and reporting systems, ensuring that finance staff maintains financial record systems in accordance with generally accepted accounting principles, and monitor the appropriate use of all funds in light of donor requirements and / or restrictions.
3. Treasury & Cash Management
a. Oversee cash flow planning and ensure availability of funds through close management of cash reserves.
b. Closely monitor payroll, accounts payables and receivables to optimize cash flows against reserves.
c. Oversee investments performance reporting and compliance with investment policies established by the board of directors.
d. Manage the organization’s banking and investment advisor relationships.
4. Payroll Administration
a. Oversee a smooth and efficient payroll administration, including:
i. timely timesheet reporting,
ii. appropriate payroll deductions and withholdings,
iii. state and federal tax reconciliations
iv. W-2 and 1099 reporting
b. Ensure proper payroll accounting entries and accruals are recorded in the financial system.
c. Ensure sufficient cash reserves are available to meet payroll requirements.
d. Ensure proper reporting to DOL of hours worked in the SPARQ system.
e. Reconcile ADP payroll and 941 reports to the financial system.
f. Ensure that there are specific cash reserve requirements to meet each payroll cycle.
5. Overhead Cost Allocation
a. Oversee the development, implementation and utilization of administrative overhead cost allocation and / or indirect cost recovery methodologies that appropriately reflect activity-based levels of effort across programs.
b. Oversee the optimization of administrative cost recovery allowable under federal and state contracts.
6. Audit & Tax
a. Oversee all audit activities and related state and federal audit and tax filings including:
i. Federal contracts
ii. Audit confirmations
iii. Account reconciliations
iv. Transaction testing
v. Top five staff and contractors schedules
b. Ensure finance and accounting staff are responsive to auditors’ information and analysis needs.
7. Financial Systems Management
a. Oversee management and operation of the organization’s accounting system, including system development, implementation and transition to new systems.
b. Ensure the integrity of historic account balances and transactional detail. through a robust process of account reconciliation.
c. Ensure chart of accounts, cost center structure and reporting formats are appropriate to meet management and reporting needs.
8. Corporate Books and Records
a. Ensure the appropriate level of financial documentation, in both paper and electronic form, is maintained to support audit and archival requirements.
b. Ensure other corporate documentation is organized and maintained in an orderly fashion.
c. Oversee the archival management and / or disposition of records in accordance with the organization’s document retention policy.
9. Risk Management
a. Oversee risk assessment, underwriting and policy placement for corporate insurance policies.
b. Ensure appropriate data is presented to support underwriting and policy audits.
c. Protects operations by keeping financial information and plans confidential.
10. Human Resources Administration
a. Ensure the maintenance of appropriate human resources policies and procedures. Oversee the periodic review of existing policies and procedures, the research of current best practice and adoption as appropriate.
b. Ensure that new hires are appropriately on-boarded, including appropriate documentation (W-4, I-9, etc.), and provide advice and enrollment support for participation in benefits programs.
c. Ensure terminations are properly documented and processed, including termination notice, pay-out of accrued vacation leave and COBRA rights, as appropriate.
d. Ensure the proper administration and accounting for vacation and sick leave, personal days, and other forms of leave entitlements.
e. Evaluate and oversee all benefits negotiations, thus providing the most competitive packages for Operation ABLE employees.
SKILLS & EXPERIENCE:
The CFO will be a seasoned and mature leader with at least 8 – 10 years of extensive experience across the broad spectrum of finance disciplines. S/he will demonstrate extensive experience in managing finance (accounting, budgeting, control, and reporting) for a complex nonprofit with multiple funding sources including government contracts and philanthropic donations, and an affiliated structure with diverse program areas.
The CFO will have the following experience and attributes:
• A minimum of a BS in business, finance or accounting; a CPA and / or MBA would be a plus.
• At least five years’ experience as CFO / Controller or equivalent, preferably in a nonprofit organization with a budget of at least $5 million.
• Significant experience in or knowledge of nonprofit accounting, including sophisticated fund and grant accounting, compliance, and reporting. A track record in grants management as it relates to compliance and reporting of government, corporate and foundation grants is essential.
• Solid experience coordinating audit activities and managing reporting, accounts payable and receivable, general ledger, payroll, and accounting for investments.
• Deep knowledge and understanding of the Office of Management and Budget Circular A133 audit requirements.
• Skill in examining, developing, reengineering, and recommending financial and human resources policies and procedures.
• A collaborative and flexible style, with a strong service mentality. Needs to be seen as a team player who is committed to lifelong learning.
• Demonstrated leadership ability, team management, and interpersonal skills. A hands-on manager with integrity and a desire to work in a dynamic, mission-driven environment. Strong commitment to developing team members.
• Excellent analytical and abstract reasoning skills, plus excellent problem solving skills which allows for strategic data interpretation versus simple reporting.
• An effective communicator, with strong oral and written skills. Ability and desire to translate complex financial concepts to individuals at all levels including finance and non-finance managers.
• Experience working with information technology staff to manage finance and accounting software packages.
• Demonstrated commitment to the social services sector with a passion for the organization’s mission is essential.
Please send resume and cover letter to:
Lydia Greene, Board Chairperson
careers@operationable.net