Chief Financial Officer

DHRM•Richmond, VA

8d•$180,000 - $180,000•Onsite

About The Position

The Virginia Employment Commission (VEC) is seeking an executive financial leader to serve as Chief Financial Officer (CFO), accountable for the financial integrity, fiscal stewardship, and resource strategy of the agency at a defining moment in its history. Reporting to the Deputy Commissioner of Operations (Chief Operating Officer), the CFO directs the Office of Budget & Grants, the Office of Finance, and the Office of Contracts & Supplies (Procurement), and serves as a member of the agency’s executive leadership team. The CFO leads all financial operations supporting two distinct lines of business: Virginia’s long-standing Unemployment Insurance (UI) program and the Commonwealth’s new Paid Family and Medical Leave (PFML) program – the first of its kind in the South. This position is directly accountable for the financial condition of the Virginia Unemployment Compensation Trust Fund and for standing up the financial architecture of the PFML Fund from the ground up, including premium and contribution accounting, benefit disbursement accounting, reserve and solvency monitoring, private plan financial oversight, and refund and receivable management. The CFO produces the financial analysis and rate modeling required to support employer and employee contribution rates by the October 1, 2027 statutory deadline, ahead of contributions beginning April 1, 2028 and benefits becoming payable December 1, 2028. The CFO also owns federal Unemployment Insurance administrative grant management, cost allocation across UI and PFML, U.S. Department of Labor financial reporting, and Auditor of Public Accounts audit readiness. The successful candidate will bring proven public-sector financial leadership, deep knowledge of governmental accounting (GAAP/GASB), trust fund or insurance fund accounting, budget development and execution, internal controls, and public procurement – along with the judgment and steadiness to build a new financial function while keeping an existing one running without disruption.

Requirements

Strong grounding in governmental accounting principles and standards, including GAAP, GASB, fund accounting, and preparation of financial statements.
Extensive knowledge of public-sector budgeting processes, encompassing budget development, execution, forecasting, and long‑range financial planning.
Familiarity with federal grant administration requirements, including 2 CFR Part 200 Uniform Guidance, cost allocation methodologies, and Single Audit standards.
Understanding of public procurement laws and practices such as the VPPA, APSPM, eVA, VITA, SWaM requirements, along with core contract administration principles.
Knowledge of internal control frameworks, including ARMICS, and experience designing, implementing, testing, and remediating internal controls and audit findings.
Proficiency in financial modeling, scenario analysis, sensitivity testing, and building models that support rate adequacy and solvency analysis.
Skill in contract administration and vendor performance oversight.
Experience leading teams, coaching staff, and supporting professional development and retention of financial personnel.
Ability to interpret and apply complex federal and state statutes, regulations, and policies, translating them into clear operational financial procedures.
Demonstrated experience presenting financial position, risk, and contribution rate recommendations to executives, legislators, employers, and oversight bodies.
Proven capability meeting statutory and federal financial reporting deadlines in high‑visibility environments.
Experience safeguarding Federal Tax Information (FTI) or similar confidential data in accordance with IRS Publication 1075 or comparable requirements.

Nice To Haves

Certification such as Certified Public Accountant (CPA), Virginia Contracting Officer (VCO), certified Management Accountant (CMA), and/or Certified Government Financial Manager (CGFM).
Experience with unemployment insurance, paid family and medical leave, disability insurance, workers’ compensation, or another social insurance or trust-funded program.
Experience standing up a new program, fund, or financial function, or leading a significant financial transformation or system implementation.
Experience with Cardinal, eVA, or comparable statewide ERP, procurement, and financial reporting systems.

Responsibilities

Directs the Office of Budget & Grants, the Office of Finance, and the Office of Contracts & Supplies (Procurement).
Serves as a member of the agency’s executive leadership team.
Leads all financial operations supporting Virginia’s Unemployment Insurance (UI) program and the Commonwealth’s new Paid Family and Medical Leave (PFML) program.
Accountable for the financial condition of the Virginia Unemployment Compensation Trust Fund.
Stands up the financial architecture of the PFML Fund from the ground up, including premium and contribution accounting, benefit disbursement accounting, reserve and solvency monitoring, private plan financial oversight, and refund and receivable management.
Produces financial analysis and rate modeling required to support employer and employee contribution rates.
Owns federal Unemployment Insurance administrative grant management.
Manages cost allocation across UI and PFML.
Oversees U.S. Department of Labor financial reporting.
Ensures Auditor of Public Accounts audit readiness.
Leads teams, coaches staff, and supports professional development and retention of financial personnel.
Interprets and applies complex federal and state statutes, regulations, and policies, translating them into clear operational financial procedures.
Presents financial position, risk, and contribution rate recommendations to executives, legislators, employers, and oversight bodies.
Meets statutory and federal financial reporting deadlines in high-visibility environments.
Safeguards Federal Tax Information (FTI) or similar confidential data in accordance with IRS Publication 1075 or comparable requirements.