Position Title: Chief Financial Officer
Reports to: President and CEO
Department: Executive Office
Position Class: Full Time
FLSA Status: Exempt, salaried
Prepared: September 2019
Founded in 1976, the Congressional Black Caucus Foundation (CBCF) is a non-profit organization focused on eliminating disparities within the global black community by developing leaders, informing policy and educating the public. Applicants may visit the website at www.cbcfinc.org, to view more information on CBCF programs and initiatives.
The Congressional Black Caucus Foundation is looking for a Chief Financial Officer (CFO) capable of taking a small organization to an elite level. The successful candidate will be an authentic influencer with executive leadership experience and professional technical skills to diversify funding, and manage contracts. He/or she will serve as a strategic partner to the President and CEO; and as a catalyst for fulfilling the mission of the organization; and therefore must have experience directly engaging at the President or CEO level. The incumbent will drive performance through business acumen, communication, and relationship and team building skills to facilitate change and growth across the entire organization. The successful candidate will embody the principles, pathways, practices, processes and passion to influence the organization’s future business performance and overall culture.
The Chief Financial Officer provides executive leadership, vision, and strategic counsel to support all facets of financial management. He/she will develop and implement financial strategies for future programs and operations; new business opportunities; and related financial matters in accordance with the organization’s philosophy, mission, and strategic goals and objectives. The CFO is responsible for risk management, budgeting and forecasting and conveying the numbers with excellent finance, presentation skills, and a strong business knowledge. The CFO will provide financial insight and analysis to support operations and administration to direct and predict future growth.
Strategic Leadership and Planning
- Serve as a strategic adviser to the President and CEO to develop the business plan by mapping short and long-range strategy to implement financial goals for future programs and operations, new business opportunities and related financial matters.
- Provide advice and counsel to department heads to assure the organization and its mission, programs, products and services are consistently presented in a strong, positive image to relevant stakeholders.
- Monitor CBCF activities for compliance with internal and external rules, regulations, policies and laws.
- Staff Board committees responsible for financial oversight.
- Direct the preparation of all financial statements, including income statements, balance sheets, financial reports; and oversee and manage accounting, tax and statutory reporting.
- Develop and implement strategies for cost management and cost reduction. Conduct financial feasibility forecasts to ensure that CBCF’s current and projected expenditures are in line with overall goals/objectives.
- Develop and manage budgets for all operating units. Compare budgeted expenses to actual expenses and make necessary adjustments to future projections and budgets. Recommend yearly budget for Board approval and prudently manage organization’s resources within budget guidelines.
- Direct the preparation of financial reports and present analyses to the Board of Directors and/or relevant committees. Maintain all corporate records, participate in the preparation of Board meeting dockets, and ensure an archive of CBCF’s finance and program policies.
- Support fundraising efforts by providing economic trends and forecasting, including ROI and revenue potential. Ensure accurate and timely tracking of donor funding and temporarily restricted net assets by program and resources used in accordance with Board or donor restrictions.
- Oversee the use of funds for capital expenditures. Review all proposals for significant new expenditures, analyzes the justification, and approve or deny requests.
- Oversee policies and procedures that impact financial and administrative functions.
- Establish and maintain relationships with financial institutions, independent auditors and consultants/vendors.
- Attend meetings on behalf of the CEO as needed; and be knowledgeable on all CBCF programs.
Administrative / Team Management
- Lead the effort to improve the technology platform of CBCF.
- Manage the Foundation contract process, including review of contracts/proposals and contractors to manage potential risks. Update contract management policies and procedures throughout the organization. Prepare and/or review proposed contracts, leases, formal agreements and other financial instruments. Provide governance, risk management and internal audit controls. Ensure pricing negotiation, objectives and favorable outcomes and contract terms are compliant with applicable regulations and meet the organization’s objectives.
- Launch a formal supplier diversity initiative and provide an annual supplier diversity report. Develop and collect data on the use of diverse suppliers.
- Lead and build a high performance team through coaching, care and trust. Recruit, retain, supervise and evaluate staff.
- Continually review organizational processes to promote innovation, creativity and forward thinking efficiency.
- Represent CBCF at related events and activities;
- Collaborate with staff across departments; and consultants in connection with large-scale events and projects;
- Balance administrative responsibilities with capacity to deliver against organization goals and objectives;
- Perform other duties and projects as assigned.
- A passion for CBCF’s mission with a commitment to financial standards and related governance.
- Active CPA and experience in non-profit auditing
- Excellent analytical and organizational skills
- Proficient in database and accounting computer application systems
- Excellent written and verbal communication skills
- Excellent management and supervisory skills
- Demonstrated ability to work in growth or turnaround situations
- Emotional intelligent leader with personal integrity and ethics
- Impressive influencer with negotiation and governance experience
- Education and Experience: Graduation from an accredited college or university with a bachelor’s degree in accounting or related field. Must have CPA and a minimum of 10 year’s financial management experience in a Foundation or non-profit institution required. Must have a proven track record of fiscal management, strategic planning, budget planning, financial reporting, and cash management, plus computerized accounting and inventory systems. Must have a thorough knowledge of GAAP for nonprofit organizations; and rules and regulations for the Federal Election Committee and Department of Labor. Knowledge of Human Resources, Investment Portfolios and Information Systems functions preferred.
- Knowledge: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Must possess e a strong background in overall financial management and experience in all aspects of financial planning, budget, and systems development. Demonstrate business acumen, strategic leadership ability, and interpersonal and problem solving skills.
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedural manuals. Ability to effectively present information and respond to questions from groups of managers, stakeholders and the general public. Ability to define problems, collect data, establish facts and draw valid conclusions, ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables. Must be able to provide analytical presentations of financial history and future projections.
- Computer and Technical Proficiencies: Highly proficient skills in Microsoft Office applications (Outlook, Word, Excel, and PowerPoint) and Financial; Edge MXT software. Technology savvy with experience selecting and overseeing hardware and software installations and managing relationships and software vendors; and knowledge of accounting and reporting software.
- Physical Requirements: The candidate must be able to produce in a fast paced environment with demanding deadline schedules, long hours and some weekend work during peak periods. Must be willing to travel when needed. The candidate must work well managing simultaneous priorities and exercise discretion and diplomacy.
CBCF is an equal opportunity employer and offers a competitive salary and excellent benefits package including health, dental, vision, 403(b), paid vacation and sick time. Qualified applicants only must forward a cover letter, resume, salary requirements and three professional references using CBCF’s online employment portal. Position open until filled. No phone calls accepted.