Chief Financial Officer

Massachusetts Bay Transportation Authority•Boston, MA

23h

About The Position

The Chief Financial Officer (CFO) provides executive leadership and strategic oversight of the MBTA’s financial operations, including financial management, budgeting, accounting, treasury operations, capital finance and accounting, and risk management. The CFO oversees reconciliation and accounting of revenue generated through system operations and contractual agreements, and coordinates development of fare collection controls and methods to strengthen financial oversight and maximize revenue. The role collaborates with external financial advisors, financial institutions, underwriters, auditors, boards, government agencies, labor unions, and other stakeholders. The CFO reports under the general direction of the Chief Administrative Officer and leads a team of finance professionals, advising MBTA leadership as the Agency develops long-term funding solutions and advances system-wide transformation and improvement. The CFO develops and communicates financial analysis to support sound management and budget decisions by Agency leadership and the Board, and works across departments to make relevant financial information available for fiscally responsible decisions. The role leads financial planning, budget development, accounting, treasury operations, capital finance and accounting, and risk management, while overseeing the Financial Management Information System and implementation of the capital cost accounting system. The CFO also directs the Authority’s operating and capital budgets, enterprise-wide financial policies, revenue and fare payment controls, debt and investment activities, risk management, regulatory compliance, and financial reporting. The role represents the Authority with external stakeholders and leads the development and performance of the finance organization.

Requirements

Bachelor’s degree in finance, accounting, economics, business administration, or a related field.
At least 15 years of progressively responsible financial leadership experience in public- or private-sector financial and accounting management.
At least 7 years of related experience in a leadership capacity.
Experience leading a complex finance organization, managing senior-level professionals, and developing high-performing teams.
Experience overseeing large, complex operating and capital budgets, including development, forecasting, monitoring, variance analysis, and long-range financial planning.
Extensive experience with financial reporting, accounting, internal controls, audits, and regulatory compliance, including knowledge of GAAP and applicable governmental accounting standards.
Experience in treasury management, cash and liquidity management, debt financing, investments, and/or capital markets.
Experience developing multiyear financial forecasts, scenario analyses, and financial strategies for executive decision-making and long-term fiscal sustainability.
Strong executive leadership, communication, negotiation, analytical, and decision-making skills, including sound judgment on complex and sensitive financial matters.
Ability to identify and manage significant financial and enterprise risks and develop mitigation strategies.
Ability to plan, organize, and manage highly complex financial accounting processes.
Experience providing strategic financial advice to executive leadership, boards, governmental and regulatory bodies, and other stakeholders, and presenting complex financial information clearly and actionably.
Ability to pass CORI and other background screenings and meet MBTA medical requirements, which may include a physical examination and drug and alcohol screening.
Satisfactory work record, including employment, job performance, discipline, and safety records.
Ability to supervise and work effectively with a diverse workforce.
Ability to read, comprehend, communicate, and respond to instructions and other information in English.
At least 18 years of age, except for participants in an approved high school internship or co-op program.
Ability to commute to assigned work locations in the Boston, Massachusetts metro area as required.
Ability to provide courteous and professional service to internal and external customers and work effectively independently and as part of a diverse team.
Ability to uphold MBTA rights and interests while maintaining effective relationships with employees and coworkers.
Ability to adhere to MBTA rules, regulations, collective bargaining agreements where applicable, and policies, including EEO and anti-discrimination, anti-harassment, and anti-retaliation policies.
Ability to work assigned shifts and locations as directed or necessary, including during emergencies or severe weather when needed.

Nice To Haves

Master’s degree in finance, accounting, economics, business administration, or a related field.
Certified Public Accountant (CPA).
At least 10 years of experience in public-sector financial and accounting management in Massachusetts government or large public transit systems.
A high school diploma or GED with an additional 7 years of directly related experience may substitute for the bachelor’s degree requirement.
An associate’s degree from an accredited institution and an additional 3 years of directly related experience may substitute for the bachelor’s degree requirement.
A master’s degree in a related subject may substitute for 2 years of general experience.
A nationally recognized or statewide/professional certification in a related field may substitute for 1 year of experience.

Responsibilities

Direct and oversee the Authority’s financial management, treasury, risk management, capital finance and accounting, and controllership functions, including revenue recognition, debt issuance, investment and cash management, tax matters, inventory and property controls, payroll, general accounting, and internal and external audits.
Serve as the Authority’s senior financial advisor to the Chief Administrative Officer, General Manager, and Board of Directors.
Provide governance and executive oversight of the Financial Management Information System, including implementation of the capital cost accounting system.
Lead development of strategic, multiyear pro forma financial projections and consult external advisors, consultants, and underwriters on cost-effective financial plans and strategies.
Direct planning, preparation, development, consolidation, and monitoring of operating and capital budgets.
Establish and oversee enterprise-wide financial policies and procedures and ensure compliance across departments.
Coordinate with senior leadership to safeguard and optimize financial resources, align financial strategy with Agency leadership, and engage federal, state, and local agencies on financial matters.
Collaborate with Labor Relations to align collective bargaining negotiations with contract expiration dates and legal requirements, and model the financial impacts of proposed terms.
Direct treasury operations and debt administration, including bond issuance, debt service planning, tax-exempt and lease financing, cash management, and relationships with banks, investors, advisors, and rating agencies.
Oversee Treasury efforts to develop business opportunities, including private capital markets access and public-private partnerships.
Collaborate with Real Estate to oversee real estate portfolios, including financing acquisitions, leases, and sales.
Evaluate and optimize fare payment systems, ensure efficient cash collection, and supervise internal controls and financial policy enforcement.
Oversee implementation of and compliance with GAAP, GASB, and federal, state, and local funding and regulatory requirements, including FTA requirements; manage pension fund strategies.
Review investment manager performance, insurance and risk management policies, and maintain transparency for public and Board stakeholders.
Represent the Authority with boards, legislative bodies, regulatory agencies, and community partners, and participate in internal committees, including the MBTA Main Retirement Fund Board and Headcount Committee.
Lead benchmarking initiatives comparing performance with peer transit agencies and use findings to inform improvements.
Partner with procurement leadership to identify and implement cost optimization and reduction initiatives.
Lead and develop the finance organization, including its structure, performance expectations, professional standards, and succession planning.
Perform other assigned duties and projects.