Job Summary
We are seeking a dynamic and strategic Executive Director of Finance to lead our financial operations and drive fiscal excellence across the organization. In this pivotal role, you will oversee comprehensive financial management, ensuring compliance with regulatory standards, optimizing financial performance, and supporting sustainable growth. Your leadership will empower teams to execute strategic initiatives, manage risks effectively, and uphold the highest standards of financial integrity. This is an exciting opportunity for a seasoned finance professional passionate about making a meaningful impact within a mission-driven organization.
Under the direction of the Chief Executive Officer, the Executive Director of Finance provides direction and leadership for Y finance and business operations. This position oversees the Y’s accounting practices, maintenance of fiscal records, preparation of financial reports, tax returns and external audit; insurance and risk management, HR and IT functions and ensures fiscal soundness and a system of strong internal controls in accordance with and alignment to the Y mission, strategic plan, goals and all policies and procedures of the Northwestern Connecticut YMCA and the Y-USA Best Practices.
Know How
This position requires an accounting or business finance degree or its experience equivalent and a background in administration, fund accounting, financial management and the auditing function. Requires strong analytical, project management and organizational skills with the ability to prioritize and manage multiple assignments while meeting deadlines. This position also requires a working knowledge of insurance and risk management, IT, legal matters and grant/contract management.
The position requires good communication, consulting, interpretive and problem-solving skills. The human relations aspect of this position is extremely important. The incumbent must work with volunteers and staff at the Association and branch levels. Must have the ability to articulate the financial condition of the organization to staff and volunteers.
Responsibilities
- Lead the development and implementation of financial strategies aligned with organizational goals, including budgeting, forecasting, and long-term planning.
- Oversee all aspects of corporate accounting, including general ledger management, balance sheet reconciliation, accounts payable and receivable, and cost control measures.
- Ensure compliance with accounting standards such as IAS (International Accounting Standards), IFRS (International Financial Reporting Standards), GAAP (Generally Accepted Accounting Principles), ASC 606 revenue recognition standards, and other regulatory requirements.
- Manage treasury functions including cash flow analysis, investment management, risk assessment, and banking relationships to optimize liquidity and financial stability.
- Prepare and interpret complex financial reports, including profit & loss statements, balance sheets, and cash flow statements to inform executive decision-making.
- Supervise risk analysis activities to identify potential financial threats and develop mitigation strategies; oversee risk management policies across all financial operations.
- Lead strategic planning efforts by providing insightful financial analysis that supports organizational growth initiatives and operational improvements.
- Oversee compliance management processes ensuring adherence to governmental regulations and nonprofit accounting standards where applicable.
- Direct financial software systems implementation and maintenance to enhance reporting accuracy and operational efficiency.
- Foster a culture of continuous improvement in financial practices through training, mentorship, and leadership development.
Essential Functions
1. Manages all functions of accounting, payroll and A/P processing, capital management and business operations, ensuring that legal and audit requirements are met and that best practices and maximum efficiency are obtained. Establishes and implements sound business practices and procedures.
2. Oversees and provides leadership to the annual budget process. Monitors monthly financial operations, prepares analysis and reports, and gives guidance to executive and operating staff. Works closely with operations staff on issues that affect financial outcome. Prepares specific recommendations and advises CEO on financial matters.
3. Manages the annual independent external audit, regulatory reporting, the preparation of financial reporting and statements. Prepares the required audit schedules: maintains records; acts as liaison with audit team and assigned committees of the Board.
4. Manages business Liability and property insurance requirements and risk management policies.
5. Manage and oversees employee personnel, benefits program and HR functions including payroll.
6. Maintains relationships with banks and funders. Manages grants and ensures compliance.
7. Works with IT Consultant and vendors to ensure effective IT, telephone and internet systems that respond to the needs of the Association.
8. Works directly with assigned committee(s) & task forces of the board of Directors and/ or Trustees (Finance & Audit, Investment Review, Insurance and Risk Management) to build volunteer relationships, develop policies, monitor their implementation and meet the related needs of the board.
9. Oversees and provides leadership to the annual budget process including: issuing guidelines and procedures; training staff, auditing budgets, overseeing data input and preparing reports.
10. Develops performance indicators and measurement systems for tracking strategic plan objectives. Evaluates current business models and leads efforts to modify or redesign business models where necessary.
11. Oversees preparation of reports to YMCA of the USA, external grant funders and governmental agencies. Oversees preparation of tax returns.
12. Implements and manages appropriate systems and internal controls to adequately safeguard the YMCA’s financial resources and to provide a solid basis for accurately reporting financial data.
13. Participates in the strategic plan and translates organizational goals into executable plans and operational tasks at the necessary levels by prioritizing activities, assigning responsibilities in accordance with capabilities, monitoring progress and evaluating impact.
14. Follows all policies and procedures as set forth in the Y Employee Handbook and Code of Conduct.
15. Assist in the Annual Campaign as a leader and contributor and support financially other activities undertaken by the association such as United Way, World Service, etc.
16. Participate in association activities along with other exempt staff such as Senior Staff meetings, Annual Meetings, etc.
17. Contributes to and cooperates with the success potential of the branch and association wide programs and functions as requested by the CEO. Becomes knowledgeable in all Y programs & procedures.
Requirements
- Proven experience in executive-level financial management within complex organizations; nonprofit experience is highly desirable.
- Extensive knowledge of all laws, standards and governmental accounting principles.
- Strong expertise in corporate finance, cost accounting, risk analysis, regulatory reporting, and treasury management.
- Demonstrated ability in strategic planning, budgeting, forecasting, investment management, and cost control.
- Exceptional analytical skills with the capacity to interpret detailed financial reports accurately; proficiency in financial report writing is essential.
- Leadership qualities that inspire teams; excellent communication skills for presenting complex concepts clearly to stakeholders at all levels.
- Technical proficiency with advanced financial software systems; experience with balance sheet reconciliation tools preferred.
- Strong understanding of compliance requirements related to public accounting and technical accounting practices such as accrual accounting. Join us as we advance our mission through innovative financial leadership! This role offers an inspiring environment where your expertise will shape our future success while fostering organizational integrity and fiscal responsibility at every turn.
Pay: $85,000.00 - $105,000.00 per year
Benefits:
- Employee discount
- Flexible schedule
- Health insurance
- Life insurance
- Military leave
- Paid time off
- Professional development assistance
- Retirement plan
Work Location: In person
