Director of Finance

Job Description

General Purpose of the Job:

The Director of Finance will be responsible for overseeing and managing financial operations, optimizing resource allocation, ensuring compliance with financial regulations and policies, and ensuring operational efficiency according to the standards set for the organization and agency contractual obligations. The incumbent will be responsible for the accuracy, completeness, and timeliness of the organization’s financial reporting while ensuring processes and procedures are consistent and enforced, cash management, and budget and management reporting. Making sure that internal controls are in place, enforced, and reviewed periodically for conformance to accounting and financial standards and applicable regulations.

Essential Duties and Responsibilities:

• Oversight and management of cash reconciliation, disbursements, advances, cash movement and off-balance sheet reconciliations.
• Oversee and lead annual budgeting and planning process in conjunction with the CFO; administer and review all financial plans and budgets; monitor progress and changes; and keep senior leadership team abreast of the organization’s financial status.
• Analyze and present financial reports in an accurate and timely manner; clearly communicate monthly and annual financial statements; collate financial reporting materials for all donor segments, and oversee all financial, project/program and grants accounting.
• Coordinate and lead the annual audit process, liaise with external auditors and the finance committee of the board of directors; assess any changes necessary.
• Analyze financial and operational data to identify trends, risks, and opportunities for improvement.
• Manage organizational cash flow and forecasting.
• Implement a robust contracts management and financial management/reporting system; ensure that the contract billing and collection schedule is adhered to and that financial data and cash flow are steady and support operational requirements.
• Update and implement all necessary business policies and accounting practices; improve the finance department’s overall policy and procedure manual.
• Offer advice to the CFO and CEO regarding spending and budget questions.
• Work with internal and external customers to design solutions for efficiency and customer satisfaction.
• Lead and participate in presentations to Senior Management, vendors, and auditors.
• Participate in the development and maintenance of policies and procedures for the department.
• Conduct ad-hoc reporting and analysis.
• Perform other duties and special projects as required.
  
  

Strategic Responsibilities

• Financial Strategy and Planning:
• Develop and implement financial strategies that support the organization's goals and objectives.
• Participate in strategic planning sessions and provide financial insights and recommendations.
• Forecast financial trends and prepare long-term financial plans.
• Budgeting:
• Lead the annual budgeting process, working closely with department heads to develop realistic budgets.
• Monitor and report on budget variances, ensuring the organization operates within its financial means.
• Adjust budgets as necessary in response to changing conditions or unforeseen events.
• Financial Reporting and Analysis:
• Oversee the preparation of regular financial reports, including income statements, balance sheets, and cash flow statements.
• Conduct financial analysis to identify trends, variances, and opportunities for cost savings or revenue enhancement.
• Coordinate and Review Monthly Reports
• The Director of Finance will coordinate with the comptroller and respective managers/directors and review the monthly analysis of our I&E performance
• The Director of Finance will coordinate meetings with the comptroller and respective managers/directors to review the monthly variance report analysis. The Director of Finance, Comptroller and a Subject Matter Expert Accountant assigned to the program will be part of the presentation.
  
  

Operational Responsibilities

• Accounting and Financial Management:
• Ensure accurate and timely recording of all financial transactions in accordance with generally accepted accounting principles (GAAP).
• Oversee accounts payable, accounts receivable, payroll, and general ledger functions.
• Manage cash flow to ensure the organization has adequate funds to meet its obligations.
• Internal Controls and Compliance:
• Establish and maintain effective internal controls to safeguard the organization’s assets.
• Ensure compliance with all relevant laws, regulations, and accounting standards.
• Coordinate with external auditors for annual audits and address any findings or recommendations.
• Grant Management and Reporting:
• Manage the financial aspects of grants, including budgeting, tracking expenditures, and reporting to funders.
• Ensure compliance with grant terms and conditions.
• Work with program staff to develop grant budgets and financial reports.
  
  

Administrative Responsibilities

• Team Leadership and Development:
• Supervise and mentor finance staff, fostering a collaborative and high-performing team environment.
• Provide training and development opportunities to enhance the skills and capabilities of the finance team.
• Conduct performance evaluations and provide feedback to finance staff.
• Technology and Systems:
• Ensure that financial data is secure and that systems are efficient and effective.
• Stay updated on technological advancements and recommend improvements to financial systems.
• Risk Management:
• Identify and mitigate financial risks to the organization.
• Develop and implement risk management policies and procedures.
• Ensure adequate insurance coverage to protect the organization’s assets.
  
  

Position Parameters [other measurable factors]:

• Decision-making responsibilities: May have to make challenging decisions that could impact the program operations. Ability to influence key and operational management through well-articulated strategies.
• Problem solving responsibility: Ability to exercise a high level of creativity and the ability to think analytically and be motivated to effectively solve problems with limited information at hand while being results oriented.
• Working relationships and contacts: Foster positive relationships with internal contacts which will include interaction with senior leaders, management, employees within other departments, and direct reports. Will have contact with current and potential business partners.
• Impact/importance of function: Work with a high level of integrity and ethical standards. Accountable for service delivery for client satisfaction and to increase positive productivity between the organization and the client and ensuring the accurate and timely response to issues or concerns that are identified.
  
  

Position Requirements and Minimum Qualifications:

• Job-related knowledge:
• Significant experience in financial management with a proven track record of strategic financial planning and analysis.
• Knowledge of Financial Planning, Financial Modeling, Analysis, Technical, Finance Management, Forecasting and Financial Reporting.
• Job-related skills, including language, mathematical, and reasoning (analytical) skills:
• High level of computer proficiency in Outlook [email system] MS Word, MS Excel, internet navigation, and the ability to learn new technologies and databases.
• Proficiency in financial management software and a significant understanding of GAAP and nonprofit accounting principles.
• Strong time management skills, with the ability to prioritize multiple tasks assigned.
• Superior attention to detail and problem-solving skills with the ability to meet deadlines and goals.
• Positively establish and maintain effective collaborative relationships.
• Strong aptitude for qualitative and quantitative data analysis.
• Proficiency in the evaluation, analysis, reporting, and management of data.
• Communicate effectively and establish credibility throughout the organization with Senior Management, department heads, colleagues, and stakeholders as an effective developer of solutions to business compliance challenges and potential risk.
• Intellectual, creative, and/or communication abilities:
• Ability to maintain a high level of confidentiality.
• Excellent written and oral communication, interpersonal, organizational, supervisory, team management, and leadership skills.
• Adeptness to manage commendably while demonstrating presentation deliverance with influence , strong relationship management and analytical skills.
• Equal ability to work independently or as part of a multi-functional team in reviewing Program business policy output and adherence to company product and regulatory directives.
• Demonstrated ability to understand and work with analytical tools, reports and technology.
• Ability to work in dynamic, rapidly changing environment, adapting to changing requirements and collaborating with a wide range of colleagues to deliver expected results.
• Must have incredible initiative, the ability to work well under pressure, and the ability to work both independently and as part of a team to complete complex projects in a fast-paced environment.
• Ability to think and act calmly in emergency situations and be adept and comfortable with crisis management.
• Licenses, certifications and degrees:
• Bachelor’s degree in accounting, finance, or equivalent field; MBA or other advanced degree; and CPA license is desirable but not required.
• Minimum seven (7) years of direct senior level experience with or equivalent business experience, with at least ten (10) years in a senior management position.
• Nonprofit or experience working with government contracts is preferred, with local, state, and federal agencies, specifically Department of Homeless Services [DHS] Department of Health and Mental Hygiene [DOHMH].
• Other:
• May be required to work long hours and a varied schedule.
• Travelling throughout various locations in the New York City area.
• Lifting and moving objects weighing up to 30 pounds several times a week.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• Comments:
• N/A
  
  

Monday-Friday 9AM-5PM