Interim Operational CFO/Downtown Boston

Our client is in need of an interim OPERATIONAL CFO or VP immediately. With the right person, it could become permanent, but right now filling the interim need.  The role is onsite in Boston and in walking distance from the South Station. There is parking available. The role requires five days in the office.

The position is 40 hours a week for 4 months. There may be an opportunity for temp-to-perm placement.

You directly report to the Executive Director who was formally a CFO.

Job Summary: We are seeking a highly skilled and hands-on Interim Operational Chief Financial Officer (CFO) to join our independent government agency for the Commonwealth, on a interim basis. The ideal candidate will have extensive experience in financial management, strategic planning, and operational leadership . The Interim CFO will be responsible for overseeing all financial operations, ensuring compliance with regulations, and driving financial strategies to support the department's mission and goals during this transitional period.

Key Responsibilities:

• Lead and manage the department's financial operations, including budgeting, forecasting, accounting, and financial reporting.
• Develop and implement financial strategies to support the department's mission and goals.
• Ensure compliance with federal, state, and local regulations and reporting requirements.
• Oversee the preparation and submission of financial reports, including annual budgets, financial statements, and audit reports.
• Manage and mentor a team of financial professionals, fostering a culture of accountability and continuous improvement.
• Collaborate with other departments and agencies to ensure effective financial management and resource allocation.
• Monitor and analyze financial performance, identifying areas for improvement and implementing corrective actions.
• Serve as the primary point of contact for external auditors, regulatory agencies, and other stakeholders.

Qualifications:

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field. A Master's degree or CPA certification is preferred.
• Minimum of 10 years of experience in financial management, with at least 5 years in a senior leadership role.
• Strong knowledge of government accounting principles, regulations, and reporting requirements.
• Proven experience in strategic planning, budgeting, and financial analysis.
• Excellent leadership, communication, and interpersonal skills.
• Ability to work collaboratively with diverse stakeholders and build strong relationships.
• Hands-on approach with a strong attention to detail and problem-solving skills.
• Proficiency in financial management software and Microsoft Office Suite. They use Microsoft Dynamics

Government accounting principles, regulations, and reporting requirements differ significantly from those of private organizations. Here are some key differences:

Objectives

• Government Accounting: Focuses on public accountability and budgetary compliance for the use of public funds. The primary goal is to ensure that taxpayer money is used responsibly and effectively for the betterment of the community.
• Private Sector Accounting: Aims at profit maximization and shareholder value. The primary goal is to generate profits and increase shareholder wealth.

Funding Sources

• Government Accounting: Funded primarily by taxes, grants, and bonds.
• Private Sector Accounting: Primarily funded through sales, investments, and private capital.

Reporting Standards

• Government Accounting: Follows standards set by the Governmental Accounting Standards Board (GASB).
• Private Sector Accounting: Uses standards set by the Financial Accounting Standards Board (FASB) and International Financial Reporting Standards (IFRS).

Financial Statements

• Government Accounting: Includes budgetary and financial statements such as the Statement of Net Position and the Statement of Activities.
• Private Sector Accounting: Focuses on income statements, balance sheets, and statements of cash flow.

Environment and Decision-Making

• Government Accounting: Decisions are often shaped by political considerations, public opinion, and legislative requirements.
• Private Sector Accounting: Decisions prioritize market demands, focusing on profitability and competitive advantage.