What are the responsibilities and job description for the Chief Financial Officer position at Careers In Nonprofits?
Professionals for Nonprofits is excited to have been retained by the Fortune Society to lead their search for a Chief Financial Officer.
Salary Range : $200,000 - $250,000
Schedule : On-site each day inLong Island City, NY (Queens)
About Fortune Society
Founded in 1967, The Fortune Society's vision is to foster a world where those who are incarcerated or formerly incarcerated will thrive as positive, contributing members of society. We do this through a holistic, one-stop model of service provision.
Our continuum of care is informed and implemented by professionals with cultural backgrounds and life experiences similar to those of our participants. We serve thousands of individuals annually via our expanding New York locations : our service centers in Long Island City, Queens and Morrisania, the Bronx, as well as several housing residences throughout the city. Our program models are recognized both nationally and internationally for their quality and innovation.
Summary
The CFO is responsible for managing the overall financial operations of the organization, ensuring its financial health and sustainability. Reporting directly to the President and CEO, the CFO works in concert with members of executive team to provide leadership and strategic direction for the agency. The role will oversee all financial reporting, budgeting, forecasting, financial analysis, and compliance requirements, ensuring a system of internal accounting controls that promote accurate and timely processing, recording and reporting of financial information. The position partners with the CEO to provide regular reporting to the Audit / Finance Committee of the Board of Directors.
Key Responsibilities
- Develop and maintain a system of internal accounting controls to promote the accurate and timely reporting of financial information and the safeguarding of agency assets. Ensure the consistent application of sound fiscal policies and procedures in accordance with GAAP and requirements of regulatory oversight and funding agencies.
- Oversee the grants and contracts management systems, including cost allocation plans; integrating organization's annual budget and restricted funding; and monitoring the approval of budget modification, contract reporting, revenue vouchering and collection and audit processes.
- Manage Fortune's assets / affiliated entities including tax credit compliance, audits, and revenue and expenses via third party partner
- Work with executive, senior and program managers to maximize financial outcomes for government contracts and grants through cost analysis support, compliance with contractual and programmatic requirements, and ensuring that government regulations are effectively communicated.
- Coordinate the accurate and timely preparation and distribution of monthly variance reports for all operating units. Prepare monthly summary of contract vouchering and other activity related to contract / grants management.
- Collaborate with CEO, Deputy CEO, CPO and other members of the senior management team on development and monitoring of agency-wide annual plan and budget. Work closely with CEO and senior leaders to develop and implement strategic plans and goals that support the organization's mission and vision.
- Provide direction and supervision of the Finance team, ensuring the effective functioning of all accounting, accounts payable, and grants / contract management activities within the unit. Review vouchers submitted and budgets developed as part of the request for proposal process and contract budget modifications. Partner with government entities to ensure the swift approval of budget modifications, payments, and closeout of contracts.
- Provide an appropriate level of oversight on the annual audit, ensuring that required schedules are prepared in a timely manner and that open audit items are promptly addressed. Develop corrective action plan (as needed) in consultation with CEO to address any management letter comments resulting from the annual audit.
- Prepare and submit annual indirect cost recovery proposal based on the audited financial statements and the OMB Uniform Guidance audit report.
- Prepare and submit annual consolidated financial report (CFR) in a timely manner.
Organizational Structure
Reports to : President and CEO
Supervises : Directly supervises Controller, Payroll Administrator and Contracts, Audit Manager; indirectly supervises all other members of the Finance team.
Qualifications
Employee Benefits
The Fortune Society provides competitive compensation, and eligible employees receive a rich collection of benefits. These include, but are not limited to :
Health
Financial Wellness
Work-Life Balance
Learning and Development
Fortune Society is an equal opportunity employer and strongly encourages applications from people of color, persons with disabilities, women, and people who identify as LGBTQ as well as from justice-involved individuals. We are dedicated to creating and maintaining an inclusive and supportive work environment.
Salary : $200,000 - $250,000
