PAYRATE: The pay for this position is in accordance with YDI's approved compensation structure
OBJECTIVE:
The Chief Financial Officer (CFO) serves as Youth Development, Inc.'s senior financial executive and is responsible for the organization's financial strategy, fiscal integrity, long-term sustainability, financial operations, and regulatory compliance.
As a member of the Executive Leadership Team, the CFO advises the Chief Executive Officer, Board of Directors, and senior leadership on financial performance, organizational risk, strategic investments, resource allocation, and financial opportunities. The CFO provides leadership and oversight for accounting, budgeting, forecasting, treasury management, financial reporting, grants accounting, payroll-related financial controls, audits, procurement controls, investments, and financial systems.
The CFO ensures that YDI's financial practices comply with Generally Accepted Accounting Principles, applicable federal and state requirements, contractual obligations, funding requirements, Board policies, and organizational procedures. The CFO is expected to maintain strong internal controls, provide timely and accurate financial information, and support the effective use of resources to advance YDI's mission.
MINIMUM OUALIFICATIONS:
• Master’s degree in business, Public Administration Accounting, Finance or other field which provide relevant expertise and five (5) years of experience in a directly related field, three (3) of which have included a supervisory or administrative capacity, or bachelor’s degree in in accounting, business, fiscal management, or a related field plus eight (8) years of administrative experience to include three (3) years of supervisory experience.
• Certified Public Accountant, Certified Management Accountant, Chartered Global Management Accountant, or similar professional credential.
• Demonstrates extensive knowledge of the GAAP and practices of fiscal management/ administration, supervisory techniques, government accounting, audits, budgets, purchasing, and systems are required.
• Ability to interpret and administer activities in compliance statutes, rules and regulations, and to exercise accurate judgment and assessment techniques is also required.
• Must be able to communicate clearly.
PREFERRED QUALIFICATIONS
• Experience serving as a CFO, Deputy CFO, Controller, Finance Director, or equivalent senior financial executive.
• Experience overseeing financial operations for an organization with multiple programs, locations, funding sources, and government contracts.
• Extensive experience in accounting, budgeting, financial reporting, cash management, audits, internal controls, risk management, and regulatory compliance.
• Knowledge of Generally Accepted Accounting Principles, nonprofit accounting standards, and 2 CFR Part 200.
• Experience managing the financial operations of a complex nonprofit, government, healthcare, education, behavioral health, human-services, or similarly regulated organization.
DUTIES & RESPONSIBILITIES (Not Inclusive):
STRATEGIC FINANCIAL LEADERSHIP
• Develops and recommends short- and long-term financial strategies that support YDI’s mission, strategic priorities, operational needs, and long-term financial sustainability.
• Serves as the principal financial advisor to the Chief Executive Officer, Board of Directors, Executive Leadership Team, and designated Board committees.
• Evaluates the financial impact of proposed programs, contracts, partnerships, investments, capital projects, acquisitions, and other strategic initiatives.
• Develops financial models, forecasts, projections, and scenario analyses to support executive decision-making.
• Identifies financial risks, opportunities, economic trends, and resource needs and recommends appropriate action.
• Participates in organizational strategic planning and translates strategic priorities into financially sustainable operating plans.
BUDGETING, FORECASTING, AND FINANCIAL PLANNING
• Leads the development, implementation, monitoring, and administration of YDI’s annual operating and capital budgets.
• Establishes organization-wide budget assumptions, standards, schedules, and reporting requirements.
• Works with executive and program leadership to develop realistic and sustainable budgets.
• Monitors financial performance against approved budgets, forecasts, grant awards, and contractual requirements.
• Provides variance analyses and recommends corrective action when financial performance differs materially from approved plans.
• Maintains cash-flow forecasts, multi-year financial projections, and financial sustainability plans to ensure adequate liquidity.
ACCOUNTING AND FINANCIAL REPORTING
• Oversees accounting operations, including the general ledger, accounts payable, accounts receivable, grant accounting, payroll-related financial processes, cash management, fixed assets, reconciliations, and financial close activities.
• Ensures financial records are accurate, timely, complete, and maintained in accordance with Generally Accepted Accounting Principles and applicable nonprofit accounting standards.
• Oversees monthly, quarterly, and annual financial closing and reporting processes.
• Ensures timely preparation of financial statements, management reports, forecasts, dashboards, and other financial analyses.
• Reviews and certifies financial reports provided to the Chief Executive Officer, Board, funders, auditors, lenders, and regulatory agencies.
• Ensures appropriate accounting treatment for restricted funds, grants, contributions, capital assets, leases, investments, debt, and other significant transactions.
GRANTS AND GOVERNMENT CONTRACT COMPLIANCE
• Oversees the financial administration, setup, monitoring, reporting, reconciliation, and closeout of federal, state, local, and private grants and contracts.
• Ensures compliance with funding requirements, including 2 CFR Part 200 and applicable federal cost principles.
• Ensures expenditures are allowable, allocable, reasonable, properly documented, and charged to the correct funding source.
• Reviews proposed grant and contract budgets for financial feasibility, matching requirements, indirect cost recovery, cash flow, sustainability, and organizational risk.
• Ensures timely and accurate submission of reimbursement requests, invoices, financial reports, and other required fiscal documentation.
• Advises leadership regarding funding restrictions, cost allocation, indirect costs, matching obligations, and questioned or disallowed costs.
INTERNAL CONTROLS, RISK MANAGEMENT, AND COMPLIANCE
• Develops, implements, monitors, and evaluates YDI’s system of internal financial controls.
• Establishes financial policies and procedures that protect organizational assets, promote accountability, reduce fraud risk, and support regulatory compliance.
• Ensures appropriate segregation of duties, authorization limits, reconciliations, documentation standards, and financial-system access controls.
• Advises the Chief Executive Officer regarding significant financial risks, control deficiencies, suspected fraud, material noncompliance, and required corrective actions.
• Oversees financial aspects of enterprise risk management, insurance, business continuity, and disaster-recovery planning.
• Reviews significant contracts and commitments for budget availability, funding allowability, financial exposure, payment terms, and long-term obligations.
• Ensures compliance with Board policies, YDI procedures, contractual requirements, tax obligations, and applicable federal, state, and local regulations.
AUDIT AND REGULATORY OVERSIGHT
• Serves as YDI’s primary financial contact for independent auditors, government auditors, monitoring agencies, financial institutions, and other external financial reviewers.
• Coordinates the annual financial statement audit, Single Audit, retirement plan audit, tax filings, and other required financial reviews.
• Ensures requested schedules, reconciliations, confirmations, documentation, and management representations are complete and timely.
• Reviews audit findings and corrective-action requirements with the Chief Executive Officer and appropriate Board committees.
• Develops and monitors corrective-action plans resulting from audits, monitoring reviews, and internal assessments.
• Ensures timely filing of required tax and information returns, including the organization’s annual Form 990.
TREASURY, BANKING, INVESTMENTS, AND CAPITAL
• Oversees banking relationships, cash management, deposits, electronic payments, authorized signers, credit facilities, and treasury operations.
• Ensures adequate liquidity to support payroll, vendor payments, program operations, debt obligations, and capital commitments.
• Recommends strategies for operating reserves, investments, debt management, cash concentration, and capital financing.
• Ensures compliance with Board-approved investment, reserve, banking, and cash-management policies.
• Serves as a member of the YDI Retirement Investment Committee.
• Supports the evaluation, financing, and monitoring of capital projects, real estate transactions, loans, leases, and other long-term commitments.
• Reviews significant financing agreements and financial transactions in coordination with theChief Executive Officer and legal counsel, as appropriate.
BOARD AND EXECUTIVE REPORTING
• Provides clear, timely, and accurate financial information to the Chief Executive Officer, Board of Directors, Executive Leadership Team, and designated Board committees.
• Presents annual operating and capital budgets for executive and Board consideration.
• Provides regular reports on financial performance, budget variances, cash flow, reserves, investments, debt, grants, capital projects, audit matters, and material financial risks.
• Explains complex financial information in a manner that supports informed governance and executive decision-making.
• Advises leadership regarding the financial impact of proposed policies, programs, contracts, and strategic decisions.
• Immediately communicates material financial concerns, control weaknesses, compliance issues, or threats to the organization’s financial stability to the Chief Executive Officer.
FINANCIAL SYSTEMS AND DATA MANAGEMENT
• Provides executive oversight of accounting, payroll integration, budgeting, banking, purchasing, and financial reporting systems.
• Ensures financial systems support accurate reporting, effective controls, data security, regulatory compliance, operational efficiency, and organizational growth.
• Participates in the selection, implementation, and optimization of financial, ERP, HRIS, payroll, purchasing, and reporting systems.
• Establishes appropriate system access controls and approval workflows.
• Promotes the use of automation, dashboards, and data analytics to strengthen financial reporting and decision-making.
• Coordinates with information technology leadership and vendors to protect financial data and address cybersecurity risks.
PROCUREMENT AND CONTRACTUAL CONTROLS
• Provides financial oversight of YDI’s procurement and contracting controls.
• Ensures purchasing and contracting practices comply with applicable laws, funding requirements, Board policies, and organizational procedures.
• Reviews significant procurements and contracts for funding availability, cost reasonableness, financial risk, payment obligations, and compliance requirements.
• Supports the establishment of approval thresholds, documentation standards, competitive procurement requirements, and conflict-of-interest controls.
• Ensures major contractual commitments are financially sustainable, properly authorized, and supported by adequate documentation.
LEADERSHIP AND PERSONNEL MANAGEMENT
• Provides executive leadership to the Finance Department and establishes expectations for accountability, accuracy, service, integrity, and professional conduct.
• Directly or indirectly supervises employees assigned to accounting, grants management, accounts payable, accounts receivable, payroll-related finance functions, and other fiscal operations.
• Participates in the recruitment, evaluation, development, coaching, corrective action, and separation of Finance Department employees.
• Establishes departmental goals, performance measures, work plans, succession plans, and professional-development priorities.
• Promotes collaboration between Finance, Human Resources, Operations, Programs, Development, Information Technology, and other organizational functions.
• Maintains a service-oriented Finance Department that supports program operations while preserving strong internal controls.
ORGANIZATIONAL LEADERSHIP
• Serves as an active member of YDI’s Executive Leadership Team.
• Supports the Chief Executive Officer in implementing Board policies and advancing YDI’s mission, strategic priorities, and organizational values.
• Builds effective relationships with organizational leaders, funders, financial institutions, auditors, regulators, vendors, and community partners.
• Represents YDI in financial, contractual, audit, banking, investment, and regulatory matters as authorized by the Chief Executive Officer.
• Promotes accountability, transparency, ethical conduct, collaboration, and continuous improvement.
• Performs other duties consistent with the position and as assigned by the Chief Executive Officer.
• OTHER DUTIES AS ASSIGNED.
