Chief Financial Officer

Maryland Nonprofits-posted 2 months ago

$165,000 - $175,000/Yr

Full-time • Executive

Hybrid • Lanham, MD

11-50 employees

Religious, Grantmaking, Civic, Professional, and Similar Organizations

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The Chief Financial Officer is responsible for the oversight and fiscal management of an annual budget of $25M. In this highly visible leadership role, the CFO is tasked with creating growth, reducing costs, and maximizing the organization's financial performance. The Chief Financial Officer will report directly to Chief Executive Officer (CEO), and lead a team of accounting, payroll, professionals, managing the day-to-day financial and accounting operations, including AP/AR; preparation of financial statements, updating and documenting accounting processes; payroll functions, and the creation of a comprehensive set of controls and budgets to mitigate risk, enhance accuracy and ensure results are reported in a timely manner. The CFO should also have a strong knowledge base and high-level experience in Human Resources.

Oversee routine analysis of key financial statement elements to identify matters requiring attention and interpret and explain financial performance about prior periods, current budget, and external benchmarks
Development, maintenance, and operation of the infrastructure (i.e., policies, procedures, and systems) required to ensure the safekeeping and preservation of all corporate assets, including but not limited to cash accounts, investment accounts, supply inventory, fixed assets, intangible assets, and contract commitments
Lead a Finance and Human Resources team that is highly efficient and productive, facilitating cross-training, and ensuring transparency for business continuity
Partner with service directors to plan changes in funding structures and development activities
Financial planning and development of annual operating, capital budgets, long-term operational and capital budgets (including projected statements of operations, projected balance sheets, and projected cash flow statements)
Oversee and lead annual budgeting and planning process in conjunction with the Senior Leadership Team and CEO; administer and review all financial plans and budgets; monitor progress and changes; and keep Senior Leadership team abreast of the organization's financial status
Tax and other government financial reporting and oversee preparation and filing of periodic reports and timely remittance of appropriate taxes or fees due in connection with tax (e.g., not-for-profit annual information report, regular sales tax reports, periodic property tax reports, etc.) and other government financial reporting (e.g., annual DDA cost report)
Effectively communicate and present the critical financial matters to the Finance Committee and Board of Directors (i.e. annual audit process, liaise with external auditors, etc.)
Implement a robust fiscal management and reporting system; ensuring accurate financial data and cash flow are steady and support operational requirements
Knowledge of the procedures, operating practices, rules, regulations, and applicable state and federal laws governing coding, billing, collections, and financial reporting
Analyze operational issues and evaluate their impact on the financial exposure of the agency elevating any concerns to the CEO
Update and implement all necessary business policies and accounting practices; improve the finance department's overall policy and procedure manual
Close the fiscal year, balance internal accounting program with independent audit and Form 990
Fiduciary oversight responsibility for the 403(b) with assistance from identified program and investment management
Remain current on regulations, industry trends, and practices and applicable financial reporting laws ensuring the organization operates within full compliance of the law
Responsible for maintaining and monitoring property insurance coverage
Participate in Board of Directors meetings and other meetings as requested
Establish and supervise implementation of efficient and accurate accounting systems
Gather, organize, and maintain all records of revenue and expenditures
Analyze and present financial reports in an accurate and timely manner; clearly communicate monthly and annual financial statements; collate financial reporting materials, and oversee all financial, project/program and grants accounting and special third-party financial reports, etc.
Review financial reports with Finance Committee, CEO and Program Directors
Transaction processing, including General ledger, billing, and collection, payroll (including government payroll reporting), accounts payable, and detailed property records
Maintenance and preservation of all corporate records (e.g., contracts and agreements, bank statements and canceled checks, accounting records, etc.), including an up-to-date inventory of all corporate records with a record description and physical location
Oversee billing and accounts receivable through the Maryland LTSS system
File all reports to funding sources in a timely fashion
Establish and supervise implementation of efficient and accurate payroll procedures
Maintain accurate payroll related records
Ensure that all staff are compensated accurately and on time
Ensure the timely payment of all taxes and benefit premiums
Assure compliance with all state, federal and local laws pertaining to compensation for work performed
Supports compliance, budgeting, and financial tracking for government and foundation grants, fee-for-service contracts, and restricted funds
Collaborate with program and development teams on budget proposals, grant reporting, and funder audits
Ensure cost allocation methodologies are appropriate, equitable, and aligned with funding requirements
Ensure the organization complies with all applicable nonprofit, tax, and regulatory requirements
Lead annual audit process and liaise with auditors, legal counsel, and the finance committee of the Board
Oversee risk management practices, including insurance coverage and organizational policies
Prepare and present financial updates to the Board of Directors and relevant committees
Translate complex financial information into clear narratives to support Board decision-making and donor engagement

Bachelor's degree in Accounting, Business Administration, Finance, or a closely related field required; Master's degree strongly preferred
Certified Public Accountant (CPA) preferred
Must have a minimum of 10 years of experience in accounting or fiscal management; not-for-profit experience preferred
Extensive knowledge of the principles, practices and procedures of accounting, finance, budgeting and planning for a not-for-profit agency
Knowledge of Development Disability Administration funding and billing preferred
Knowledge of employment law and Human Resources regulations, policies and procedures
Must be a strategic thinker with the ability to conceptualize an act upon the agency's financial objectives and operationalize these objectives
Ability to motivate and hold team members accountable
Demonstrate knowledge of laws, procedures, regulations, and best practices relating to not-for-profit accounting practices and financial reporting

Medical, Dental and Vision Insurance (CareFirst)
403B Retirement Plan Match - Mutual of America (Up to 6%)
Group Life Insurance - Guardian (up to $50,000)
Voluntary Life and AD&D Insurance
Short Term Disability Insurance (Guardian)
Employee Assistance Program (EAP)
Pet Insurance
Legal Insurance
10 Paid Holidays and 2 Floating Holidays
Employee Discounts (Groupon, Six Flags, Touro University, Hertz car rentals, AMC Theaters Dell computers, etc.)
Paid On-site Trainings!
Work in a hybrid environment combining in office and remote work is required. Current requirements are at least 3 days in office

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