Summary: The Director of Finance is responsible for overseeing the fiscal operations, budgeting, and financial strategy of the organization. This person is expected to implement efficient processes, direct, and oversee the organization’s daily accounting, financial reporting, banking, insurance processes, budgeting, and audit preparation, acting as a strategic partner to the Executive Director. They maintain internal controls, manage cash flow, and ensure compliance with nonprofit accounting principles (GAAP). This hands-on role involves accounting, grant tracking, payroll processing, and has a central role presenting financials to the Finance and Audit Committee and Rochester Childfirst Board of Directors as well as the Rochester Childfirst Network Foundation Board. Additionally, they make projections and conduct analyses on all finance and accounting matters and inform the Executive Director, Senior Leadership Team, and Board of Directors, on strategic planning initiatives that support long-term fiscal sustainability.
Duties and Responsibilities:
1. Financial Management & Reporting
· Oversee the administrative systems and staff that relate to the financial management of the agency.
· Coordinate the month-end close process while sharing responsibilities for account reconciliations and journal entries with Staff Accountant
· Analyze and present financial reports in an accurate and timely manner; clearly communicate monthly and annual financial statements; collate financial reporting materials for all donor segments, and oversee all financial, project/program and grants accounting.
· Implement a robust contracts management and financial management/ reporting system; ensure that the contract billing and collection schedule is adhered to and that financial data and cash flow are steady and support operational requirements.
· In collaboration with the Director of Development and Marketing, ensure grant funds are used for their intended purposes, managing compliance, and mitigating audit risks.
· Responsible for insurance procurement, compliance and risk.
· Update and implement all necessary business policies and accounting practices; improve the finance department’s overall policy and procedure manual.
· Effectively communicate and present the critical financial matters to the board of directors and leadership team.
2 . Budgeting & Forecasting
· Oversee and lead annual budgeting and planning process in conjunction with the Executive Director and program managers/directors; administer and review all financial plans and budgets; monitor progress and changes; and keep senior leadership team abreast of the organization’s financial status.
· Create and maintain the record keeping documentation and support for efficient and effective management of the budget by the leadership team.
· Analyze monthly and year-to-date operating results and compare them to budget; meet with program managers/directors to review results and make recommendations as needed.
· Provide forecasting of current and five-year plan results as requested by the Executive Director and the board of directors.
3. Accounting & Compliance
· Develop and implement accounting procedures to ensure compliance of GAAP standards.
· Monitor and ensure accurate accounting of revenue and expenses by program for the preparation of the annual audit.
· Coordinates month-end close process and account reconciliations and timely preparation of all financial reports; reviews with the Executive Director.
· Ensure all grants, contracts and temporarily restricted funds are accounted accurately and are consistent with the contract, stated gift or grant requirement.
4. Audit and Tax
· Coordinate and lead the annual audit process, liaise with external auditors and the finance committee of the board of directors; assess any changes necessary.
· Oversee the preparation of the annual Consolidated Fiscal Report as prepared by the CFR consultant.
· Follow up on audit recommendations and implement appropriate changes.
· Ensure industry standard benchmarks for audit recommendations are within the recommended range.
5. Cash Flow & Controls
- Projects and forecasts the agency’s revenue and provides financial analysis and planning, and business modeling, monitoring and communicating financial status against strategic budget to executive team.
- Strategic management of cash flow and forecasting; oversight of weekly cash flow to ensure sufficient balances are maintained and obligations are met.
- Supervises the staff accountant to maintain the agency’s accounts payable to ensure timely action on debts and accounts receivable to improve payment cycle,
- Supervises the staff accountant in handling all bank deposits, reconciliations & transfers.
- Manages agency grants to ensure that financial contractual obligations are met 100%.
- Collaborates with Executive Director to manage actual performance to the budget, course-correcting gaps, ensuring the right payor mix, and attaining annual financial and operational goals.
6. Strategic Support
· Work with the HR Director and Executive Director to ensure competitive annual salaries that encourage retention and attract highly qualified employees.
· Participate actively as a member of the leadership team and Board of Directors, providing guidance in areas related to long-term fiscal stability and growth.
· Ensure insurance policies, such as general liability, property, and cyber insurance, are directly tailored to the risks identified in your assessment and integrated into the organization’s financial strategy.
Supervisory Responsibilities:
Directly supervises Staff Accountant. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Monitor the Staff Accountant's work, particularly with Accounts Receivable Aging, Accounts Payable, and cash flow.
Qualifications:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Language Ability:
Key language abilities needed include translating complex financial data into plain terms for non-financial stakeholders, professional writing for reports, and clear, concise verbal communication. Ability to effectively present information to top management, public groups, and/or boards of directors.
Math Ability:
Key math abilities needed include financial arithmetic, data analysis, and financial reporting.
Reasoning Ability:
Key reasoning abilities needed include advanced analytical thinking, deductive logic for risk management, and strateigc problem-solving.
Computer Skills:
To perform this job successfully, an individual should have knowledge of Microsoft Office 365 Microsoft Word, Advanced Microsoft Excel, Microsoft PowerPoint, Microsoft Outlook, Google Gmail, accounting software, payroll systems, and internet software.
Education/Experience:
Bachelor of Science in Accounting, Finance, or Business. CPA or MBA preferred, and 8 to 10 years of progressive financial experience with at least 3-5 years in a non-profit seeting and a minimum of 2 years supervising.
Non-profit GAAP expertise preferred. Experience with Concsolidated Fiscal Report preferred.
Excellent supervisory and leadership skills.
Knowledge, Skills, and Other Abilities:
- Budgeting skills
- Leadership skills
- Data analysis skills
- Relationship building skills
- Time management skills
- Oral and written communication skills
- Professionalism
- Diplomacy
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to stand, walk, sit, use hands, and talk or hear. The employee is frequently required to reach with hands and arms. The employee is occasionally required to climb or balance and stoop, kneel, crouch or crawl. Specific vision abilities required by this job include close vision.
Work Environment:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is occasionally exposed to outdoor weather conditions.
The noise level in the work environment is usually moderate.
Job Type: Full-time
Pay: $95,000.00 - $112,000.00 per year
Benefits:
- Dental insurance
- Disability insurance
- Employee assistance program
- Employee discount
- Health insurance
- Life insurance
- Paid time off
- Referral program
- Vision insurance
Education:
Experience:
- progressive financial : 8 years (Required)
License/Certification:
Work Location: In person
