What are the responsibilities and job description for the Vice President - Finance position at Landmarks for Families?
OVERALL JOB DESCRIPTION:
Under consultative direction of the CEO, the Vice President of Finance (VP of Finance), is responsible for the effective fiscal management and oversight of the agency's resources and assets. The VP of Finance will oversee day-to-day responsibilities associated with the organization's fiscal operations, accounting system, reporting, creation of and adherence to its annual budget, as well as strategic functions to include forecasting, long-term planning and asset management. As the staff liaison for the Board Finance Committee, the VP of Finance also prepares accurate and timely financial reports for Board review, coordinates the external audit process and staffs the external Audit Committee. The VP of Finance provides oversees finance and payroll functions and collaborates with the CEO to manage property, provides oversight of purchasing and inventory control systems, and develops policies and procedures to meet necessary standards.
As a senior leader, the VP of Finance will promote the spirit of teamwork, demonstrate the ability to be a good colleague, strive to continuously improve the quality of the agency and self; accept cultural and individual differences, uphold the vision and mission of the agency and actively participate in agency initiatives to achieve these goals.
JOB RESPONSIBILITIES:
1. Financial Management: Provides effective oversight management of the agency's accounting system, ensuring that all accounts receivable, donor gifts, and accounts payable transactions are recorded accurately and in a timely manner. Conducts regular audits and reconciliations of Electronic Health Record and Human Resource Management systems with accounting system. Provides effective supervision to accounting staff, delegating responsibilities as necessary to ensure appropriate completion of all accounts receivable, accounts payable, payroll and benefits administration tasks. Ensures that agency accounting standards are within the scope of Generally Accepted Accounting Principles and internal control procedures are used to prevent or detect potential abuse of the accounting system. Creates a financial management strategy. Provides effective financial management oversight to program managers and development team members, ensuring that maximum financial reimbursement is obtained from funding sources and that expenses are within budget guidelines.
2. Financial Reporting: Coordinates and leads the Finance and Audit Committees of the Board of Directors and prepares reports for each Board Meeting. Prepares regular internal financial statements and reports as requested by the Finance Committee or CEO and ensures reports are distributed on a timely basis. Ensures that external financial reports meet the requirements and deadlines of the Internal Revenue Service, State of South Carolina, donors and other funding sources.
Assesses organizational performance against budget and recommends adjustments as needed. Collaborates with CEO and COO to develop and implement short and long term strategies to support achievement of organizational goals.
3.. Annual Audit Process: Coordinates the external annual audit process, minimizing audit costs by maintaining adequate documentation and organization within the accounting system. Consults with the auditor to determine areas of potential weakness in the internal accounting control system and ensures that issues are addressed to correct deficiencies. Reviews auditor's draft of the audit for inconsistencies with the agency's records and ensures that problems are corrected.
4. Budgeting: With input from the CEO, Program Managers, Department Directors, and the Board, the VP of Finance is responsible for developing an annual agency budget which details projected agency and program specific revenue and expenses. Provides direction to agency management to ensure that the Board approved budget is used as a guide for expending the agency's resources. Works closely with the Development office and Program Managers, preparing or approving budget projections as requested by funding sources.
5. Payroll and Benefits Management: Ensures integrity of data in payroll and benefits systems and negotiates annual benefit rate changes, renewals and enrollment/termination process in conjunction with Human Resources department. Ensures that payroll is processed in a timely manner and that key internal controls are maintained. Disburse payments, file government reports, and provide data requests as required by auditors, internal and external regulatory agencies. Ensure that finance, payroll, and benefit related policies, procedures and Employee Handbook are up to kept date and in compliance with federal state and local laws related to compensation and benefits.
6. Operations Oversight: Manages a cost effective purchasing and inventory control system. Develops policies and procedures to meet necessary standards. Collaborates with CEO, COO and leadership team to ensure organization-wide implementation of systems and strategies.
Collaborates with the CEO and COO to manage property and facilities and support the facilities and maintenance staff.
- Collaborates with COO to ensure that all facilities and equipment are regularly maintained and regular inspections (i.e., fire, vehicle, etc.) are conducted.
- Oversees and negotiates contracts with outside contractors as needed.
- Ensures procurement process and other fiscal processes outlined in Fiscal Policies are up-to-date and in practice.
Contacts: All levels of staff, Board and/or Advisory Board members, donors, community leaders, external accounting and investment professionals, vendors, contracting services providers and other community contacts.
Decision-Making Authority: Must be able to make decisions which positively impact the agency's financial position as well as services/goods to be purchased while working within the confines of a restricted budget. Must be able to make decisions interpreting agency policy and bylaws standards. Creates the procedures for day-to-day financial operations.
Major Challenges:
- Must be able to think strategically to create a financial management plan and effectively implement it.
- Must be able to provide direction and training to accounting staff, agency management and Board/Advisory Council members.
- Must be able to meet deadlines, prioritize tasks and organize very complex and detailed operational systems.
- Must be visionary in thinking to help agency maximize resources, investment income, and create a sound financial future.
- Ensure that all appropriate goods and services can be obtained for the agency while working within the confines of a restricted budget.
- Must be able to effectively supervise staff to ensure all support services are meeting the needs of the agency.
Functional Knowledge: Senior Level
Type of Knowledge or Skills Required: Must have excellent accounting, financial management, budget development, supervisory, organizational and interpersonal skills.
Education and Specific Training: Minimum of a bachelor's degree in an accounting or Finance field is required, CPA and/or Master's Degree is preferred. Candidate must demonstrate working knowledge of accounting, payroll and HR systems, electronic health record systems and Microsoft office software.
Experience: At least 3 years of experience in nonprofit or corporate accounting and finance operation as a Controller, Director of Finance, or equivalent is required. Candidate must demonstrate experience and skill in budgeting, financial analysis, reporting, and compliance.
Responsibility Level: Acts independently or as a leader to uncover and resolve problems associated with the development and implementation of financial operations.
Supervisory Responsibility: This is a supervisory position that supervises the Finance, Operations and Information and Technology departments.