| Job Title: Chief Financial Officer | Pay Time: Salaried * Full-time |
| Revised Date: December 10, 2021 | Reports To: President and CEO |
| Written by: Mark Neff | Approved by: Mark Neff |
Position Summary:
As a key member of the executive leadership team, the Chief Financial Officer (CFO) reports to the President and CEO and assumes a strategic role in the overall management of the organization. The position is responsible for overseeing all fiscal and fiduciary responsibilities for the organization, and is an officer of the organization as well as advisor to the president, board of directors, and the finance and audit committees. The CFO is accountable for the administrative, financial, and risk management operations of the organization, to include the development of a financial strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve organization assets and report accurate financial results. This position is hands-on and quality-focused combining sound financial leadership with proven business effectiveness. The CFO is responsible for the financial management of the organization to include budget analysis and management, financial modeling and reporting, cost benefit analysis, forecasting needs, accounting, and investment strategies. The CFO works collaboratively with senior leadership in complex problem solving, issue analysis and serves as a credible, knowledgeable and trusted resource to the CEO and other senior leaders. The CFO is also responsible for mentoring, guiding, and supervising the finance department staff.
Essential Functions and Job Responsibilities:
Communication
- Serves as key advisor to the President and CEO in the areas of financial policy and direction, administrative, and risk management matters for the organization
- Engages the board finance committee around issues, trends, and changes in the business operations of the organization
- Offers the executive leadership team quality, meaningful analyses and financial perspectives to evaluate the financial condition of the organization
- Develops proactive recommendations for growth as well as providing solutions to business constraints
- Oversees the preparation, approval and issuance of all monthly and annual financial reporting materials for organization’s board of directors, audit and finance committees
- Provides timely and meaningful reports and analyses as well as financial guidance to management on budgetary controls, costs, pricing, cost estimating or other special assignments
- Effectively articulates the financial picture of the organization to the CEO, the board of directors, finance and audit committees, and senior management team with clarity and timeliness
Financial Management
- Holds primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities for organization including direct responsibility for accounting, finance, payroll, forecasting, audit, federal and state reporting, strategic planning, legal, lease and other contracts, property management, deal analysis and negotiations, investor relationships, and institutional financing
- Oversees the coordination and activities of independent auditors ensuring all audit issues are resolved, and all 501 (c) (3) compliance issues are met, and the preparation of the annual financial statements is in accordance with U.S. GAAP, FASB and federal, state and other requirements
- Leads and oversees fiscal year operating budget preparation with senior management team including management of annual capital requests
- Oversees long-term budgetary planning and costs management in alignment with organization’s strategic plan, especially as the organization considers growth expansion, potential acquisitions, and collaborations with external organizations
- Monitors financial performance by measuring and analyzing results, initiating corrective actions, and minimizing the impact of variances
- Develops and maintains systems of internal controls to safeguard financial assets of the organization
- Manages RFP process for financial matters, evaluates bids on purchasing decisions, and a centralized purchasing system
- Oversees preparation of required financial reports for outside funding agencies or pro forma’s for new business ventures to be presented to the president and board of directors
- Develops a reliable cash flow projection process and reporting mechanism that includes minimum cash thresholds to meet operating needs
- Handles highly confidential records relating to personnel, contracts, and legal matters
- Proactively addresses initiatives that are off-track, over-budget, or behind schedule
Management and Administration
- Engages in the growth agenda and works with senior leaders on the long-term vision of the organization by providing strategic fiscal planning as a basis for decision-making
- Participates in identifying new revenue opportunities and determining cost effectiveness of prospective service delivery such as animal services contracts
- Administers employee benefit plans, including Worker’s Compensation and health insurance, Simple IRA retirement savings plan and COBRA in accordance with applicable regulations. Directs and oversees preparation of all government reporting documents as required, including, but not limited to, worker’s compensation wage reports, statistical surveys, ERISA and benefits reports (i.e. 5500) NC state employment reports, and sales tax returns.
- Develops and promotes a framework to drive financial acumen and accountability across organization
- Promotes a culture of high performance and continuous improvement while building an effective team dynamic in the finance department
- Provides timely mentorship, training, guidance and supervision to finance department team through organization’s Culture Amp program and organization core values
- Updates job knowledge by remaining aware of new regulations, participating in educational opportunities, reading professional publications, maintaining personal networks, and participating in professional organizations
Relationship and Collaboration
- Partners with the President/CEO along with finance committee and in consultation with the organization’s investment consultant, for investment strategy, asset allocation, manager selection and evaluation of all investments and investment activities
- Works tactically with CEO to identify financial goals, set milestones, create schedules, and track progress for fiscal health of the organization
- Optimizes the handling of banking, legal, and insurance relationships
- Maintains relations with external auditors and investigates their findings and recommendations
- Works with Chief Philanthropy Officer in valuation and reporting of illiquid gifts and alternative investments
- Works with Chief Philanthropy Officer in valuation and reporting of illiquid gifts and alternative investments
- Works with President/CEO to evaluate and oversee all benefits negotiations with the goal of providing the most competitive packages
- Works with President/CEO and other senior leadership in developing financial strategies by forecasting capital, facilities, and staff requirements
- Works with the Marketing Director and communications team to create an annual report for organization stakeholders and donors
Risk Management and Compliance
- Oversees compliance matters relating to federal, state and local laws and national best practice standards, including requirements applying to Section 501(c)(3) nonprofits
- Ensures adequate system of internal accounting controls is in place and is operating as designed, to protect the physical and financial assets of FHS, to ensure the integrity of financial information, and to reduce the risk of illegal acts
- Maintains compliance with GAAP, FASB, and regulatory requirements
- Supervises acquisition due diligence and negotiates acquisitions
- Understands and mitigates key elements of the organization’s risk profile
- Monitors all open legal issues involving the organization and legal issues affecting the animal welfare industry
- Maintains appropriate insurance coverage for the organization and the Board of Directors
- Ensures timely and efficient preparation of annual audited financial statements, 990 tax returns, and relevant North Carolina state filings
- Acts as organization’s main liaison with independent auditors for annual audit activities ensuring that all compliance requirements are met
- Negotiates and evaluates contracts for business terms and financial implications
Supervisory Responsibilities: Controller, Accountant, Payroll Specialist and Accounts Payable Techinician
Education:
Master’s Degree in finance, accounting, business administration or other relevant field required. Preference will be given to candidates with an MBA in Finance and the Certified Public Accountant or Certified Management Accountant designations.
Experience:
Minimum of 5-10 years in progressive responsibility in financial management including experience with accounting, investment strategy, and risk management in a mid-size business with an annual operating budget of $3 – 5 million. A minimum of 5 years in a supervisory role.
Qualifications:
The CFO will be a mature leader with at least 5-10 years of broad finance experience, ideally beginning in accounting, followed by experience gathering and evaluating financial information and making actionable recommendations to senior leadership. The ideal CFO candidate will have the following experience and attributes:
- Commitment to advancing organization’s mission and goals
- Demonstrated excellence in financial planning and reporting, budget preparation, fiscal monitoring, control and administration of multi-million dollar budgets with multiple funding sources
- Excellent analytical and communication skills with the ability to synthesize complex issues and communicate them effectively to audiences through oral/written skills
- High-level knowledge of accounting, FASB 116/117 and GAAP
- Ability to foster and cultivate business opportunities and partnerships
- Experience working with legal counsel, investment advisors, and board members
- Honed management and negotiation skills
- Comfortable with solving complex problems and eliminating barriers to success.
- Ability to handle confidential information with excellent judgment and discretion.
- Experience in managing several projects and adjusting to frequently changing demands
- Demonstrated flexibility and collaboration with colleagues
- Professional demeanor that exhibits maturity, diplomacy, and excellent interpersonal skills
- A hands-on manager with integrity and a desire to work in a dynamic, mission-driven environment
- Ability to think and act strategically — planning for the long-term while balancing short-term needs of the organization
- Proficiency with Microsoft Office suite especially Excel and familiarity with accounting software
- Ideally, this individual has experience either as an employee or board member of a nonprofit organization and is familiar with nonprofit finance and accounting regulations
- Must have a valid North Carolina Driver’s License and a good driving record
Physical Demands:
Must be able to stand, walk, sit, talk and hear, stoop, bend, squat, kneel, grasp grip, put fingers together firmly and reach above and below shoulder level and lift, push or pull 20 pounds for situations of moving and lifting materials or supplies, repetitively use hands to operate computers; flex the neck upward and downward; twist the neck and the waist. Reasonable accommodations may be made for enable individuals with disabilities to perform the essential functions.
Work Environment:
Standard office environment, with exposure to environmental conditions that include working near and potentially caring for animals. Regular automobile travel during workdays.
Apply above or please send cover letter and resume to Mark Neff, Executive Director, at mneff@forsythhumane.org
