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Chief Financial Officer

About This Organization Our client, a mid-sized public school district in the Northeast United States is seeking an experienced Chief Financial Officer (CFO) to lead alongside a dynamic Superintendent. This is a hands-on CFO position which requires strategic leadership but also the ability to get into the weeds and proactively solve problems alongside a developing finance and accounting team. About the Chief Financial Officer RoleReporting directly to the Superintendent, the Chief Financial Officer is a key member of the Executive Leadership Team and leads the organization’s long-term financial strategy and oversees the day-to-day finance and accounting. The person is responsible for all aspects of financial management including but not limited to: budget planning, general accounting, accounts payable, accounts receivable, payroll, financial controls and reporting, cash management, and compliance. The CFO leads a team of 10 individuals and sets goals and objectives that direct the management of fiscal resources of approximately $160M. The CFO serves as the financial face of the organization, supporting the Superintendent in interactions with city, county, and state leaders.What You’ll Do (Responsibilities)Visionary and Strategic Leadership• Serve on the Executive Leadership Team and contribute to setting vision and strategic direction for the organization.• Develop and maintain the annual budget and multi-year financial plans to ensure stability and sustainability in coordination with the Executive Leadership Team and Finance Committee.• Lead and effectively communicate on long-term financial planning, forecasting and economic modeling; assess financial implications of potential strategic and growth alternatives.• Understand relevant macro and micro trends that meaningfully impact the organization and enable the organization to benefit from emerging opportunities and mitigate emerging risks.Financial Leadership and Management• Implement a clear and transparent budget process that aligns with the organization’s key priorities and initiatives.• Facilitate the preparation and presentation of monthly budget reporting and annual projections for all aspects of the budget; collaborate with the team to ensure accuracy of analysis and reporting.• Represent the organization, as needed, on budgetary matters in various venues, delivering written and oral presentations on the budget and fiscal matters and other financial concerns to the board members, city leaders, union leaders, school leaders, teachers, parents, and community groups.• Prepare the Executive Leadership Team, and board members for effective decision-making conversations, anticipating and organizing key questions and data that support productive discussions to direct key fiscal priorities.• Maintain productive working relationships with board and finance committee members, district team members, school leaders, city and state officials, auditors, lenders, bondholders, insurers and other financial institutions.• Ensure compliance with the financial requirements of the city, and all other state and federal agencies and ensure accurate and timely preparation of audits and IRS forms.• Build a service-oriented culture that is responsive to the employees, ensuring accuracy and accountability for processes and procedures.Systems, Training and Execution• Provide project management oversight for priority short- and long-term initiatives; develop tools to track progress and monitor key performance goals.• Implement adequate internal controls and ensure adequate accounting records to document compliance with local, state, and federal laws and ordinances.• Serve as a critical thought-partner and support for department leaders on budgetary matters and build their capacity as fiscal stewards of the organization’s resources.• Assists department and school leaders with financial matters as necessary, including, but not limited to, answering inquiries and explaining policies and procedures, preparing budget estimates, and determining the cost of new, expanded, or reorganized programs.• Create proactive systems that garner feedback from the district office and schools to inform the budget process, budget transparency, and fiscal stewardship.• Ensure the successful implementation of the new payroll processing system.• Oversees the district’s process management system and develops tools to ensure coherence throughout the financial system.• Safeguards the physical assets by implementing adequate internal controls and ensuring adequate accounting records to document compliance with local, state, and federal laws and ordinances.• Assess the distribution of resources with a clear equity lens, ensuring allocations provide the best resources to equitably and effectively meet the needs of all students, families, and schools.Talent Development and Management• Lead, coach and manage the performance and effectiveness of the finance team, aligned around a shared vision of operational excellence, performance goals, effective controls and monitoring of the budget, and excellent service to schools.• Supervise and conduct personnel administration duties, including hiring and firing recommendations, evaluating, assigning special duties, monitoring attendance and travel reports, and approving leave for all direct reports.• Build a service-oriented team culture that is responsive to the employees and the broader community.• Update documentation and training materials to ensure proper compliance with financial procedures.What Skills You’ll Need to be Successful (Competencies)Financial and Accounting Expertise• Demonstrates a high level of budget management and financial planning expertise, including implementing a clear and transparent budget process that aligns with the district’s key priorities and initiatives.• Evidence of long-term financial planning and developing forecasting models.• Understand the use of data analysis, financial modeling, and analysis to inform organizational strategy and can translate this information clearly to create a common understanding across the leadership team.Effective Planning and Execution• Exhibit outstanding critical thinking skills, including analyzing data, identifying trends, pinpointing problems and root causes, asking probing questions, and developing feasible solutions.• Demonstrate the ability to build efficient financial systems, budget workflows, and standard operating procedures to deliver the desired outcomes for the organization.• Demonstrate excellent execution and leadership skills and the ability to successfully lead staff to achieve goals accurately and on time.Influence and Effective Communication• Communicate effectively, tailoring messages for the audience, context, and mode of communication.• Navigate complex structures, relationships, and dynamics to challenge ideas and enable thoughtful decisions and positive outcomes for students.• Build coalitions and work collaboratively with diverse stakeholders at all levels of the organization.• Educate and train all staff, especially non-finance staff, on budget management, procedures, and workflow.Team Leadership and Management• Build the team culture to foster excellence and collaboration and to deliver high-quality customer service to achieve all goals and objectives.• Assess team and individual skills and identify development needs; provide feedback and support to improve practice, build capacity, and maximize talent.• Gain the trust and respect of all staff, cultivating personal accountability among staff for excellent service, efficient budget processes, and commitment to student achievement.Minimum Requirements• Bachelor’s in Accounting, Finance, or a related career field from an accredited college or university. MBA, Master’s, and CPA designation preferred.• Minimum of 10 years of experience in a financial management position in a large public service organization preferred.• Must have direct experience in budgeting, leading the budget process, financial analysis, and monitoring and evidence of success leading and managing a multi-million dollar budget.• Four (4) years of senior-level supervisory/administrative/management experience.• Possess a deep understanding of ERP, accounting and payroll systems.• Demonstrates excellent oral and written communication and human relations skills.• Experience in implementing comprehensive financial management systems, practices, and policies for an organization of significant size.• Thorough knowledge of various public budgeting practices, policies, procedures, and challenges.BenefitsThe salary for this position is competitive, starting at $150,000-170,000 and commensurate with prior experience. In addition, a comprehensive benefits package will be included in the ultimate offer for the identified sole finalist.This organization is committed to maintaining a work and learning environment free from discrimination on the basis of race, color, religion, national origin, pregnancy, gender, sexual orientation, marital/civil union status, ancestry, place of birth, age, citizenship status, veteran status, political affiliation or disability, as defined and required by state and federal laws.

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What You Should Know About Chief Financial Officer, Alma Advisory Group

If you're looking to take your career to the next level, consider the Chief Financial Officer position with a well-respected mid-sized public school district in the Northeast United States. In this vibrant role, you'll work closely with the Superintendent on the Executive Leadership Team, guiding the financial future of the organization. As the CFO, you'll not only set the financial strategy for a substantial budget of approximately $160 million but also become a hands-on leader who dives into the day-to-day operations of finance and accounting. This opportunity is perfect for someone who thrives in a fast-paced environment and loves collaborating with others. You’ll oversee a dedicated team of 10, crafting annual budgets, ensuring financial controls, and preparing insightful reports that keep stakeholders informed and engaged. Additionally, you will represent the organization in various forums, sharing the budget narrative with city leaders, board members, and community groups. Your financial acumen will be crucial as you implement robust systems and controls while nurturing a service-oriented culture among your team. With a competitive salary between $150,000 - $170,000 and an excellent benefits package, this role is more than just a job; it's a chance to make a real difference in the community and the lives of students. Join this organization, and bring your strategic vision to help shape the future!

Frequently Asked Questions (FAQs) for Chief Financial Officer Role at Alma Advisory Group
What are the key responsibilities of a Chief Financial Officer at City Year?

As a Chief Financial Officer at City Year, your primary responsibilities include leading the organization’s long-term financial strategy, overseeing budgeting, general accounting, payroll, financial reporting, and ensuring compliance with financial regulations. You will also mentor a finance team while collaborating closely with other executives to support strategic goals.

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What qualifications are needed for the Chief Financial Officer role at City Year?

City Year seeks a Chief Financial Officer with a Bachelor’s degree in Accounting or Finance, although an MBA or CPA is preferred. With at least 10 years of financial management experience in a large organization and four years in a senior role, you’ll need to demonstrate excellent communication skills and the ability to manage a substantial budget.

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How does the Chief Financial Officer at City Year contribute to financial planning?

The Chief Financial Officer at City Year plays a pivotal role in financial planning by developing annual budgets, multi-year financial plans, and providing forecasting for future financial implications. You will analyze macro and micro trends, enabling the organization to seize opportunities and mitigate risks.

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What is the salary range for the Chief Financial Officer position at City Year?

The Chief Financial Officer position at City Year offers a competitive salary starting from $150,000 to $170,000, depending on experience. Alongside this, a comprehensive benefits package enhances the overall compensation.

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What skills are essential for a successful Chief Financial Officer at City Year?

Successful candidates for the Chief Financial Officer role at City Year need skills such as financial expertise, strategic planning, critical thinking, effective communication, and team management. You need to exhibit a capacity for building strong coalitions and delivering high-quality service while navigating complex financial matters.

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Common Interview Questions for Chief Financial Officer
How would you approach developing an annual budget for City Year?

To develop an annual budget for City Year, I would first assess the organization’s strategic priorities and initiatives. Then, I would collaborate with team leaders to gather data on projected expenses and revenues, ensuring alignment with their goals. Regular communication and transparency would facilitate accuracy in expectations and reporting.

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Can you provide an example of how you have implemented financial controls in your previous roles?

In my previous position, I implemented a comprehensive set of financial controls that included regular audits, reconciliations, and performance metrics. This involved creating checklists and documentation to ensure compliance, which not only improved accuracy but also increased accountability throughout the finance department.

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Describe a time you had to present financial information to stakeholders. How did you prepare?

When presenting financial information to stakeholders, I focus on clear and concise messaging. I prepare by organizing key data, anticipating potential questions, and creating visual aids to support my narrative. This approach ensures that I engage the audience with comprehensive insights while making the information accessible.

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What do you consider the most important factors when managing a multi-million dollar budget?

The most important factors in managing a multi-million dollar budget include accurate forecasting, maintaining compliance with regulations, and having clear priorities. Engaging stakeholders in the budgeting process fosters ownership and understanding, which is essential for effective financial stewardship.

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How do you ensure transparency and accountability in budget management?

I ensure transparency and accountability in budget management through regular reporting, collaborative discussions with the finance team, and encouraging open communication across departments. Implementing clear policies and procedures also helps in maintaining consistency and trust within the organization.

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How do you stay informed about changes in financial regulations affecting the education sector?

To stay informed about changes in financial regulations, I subscribe to relevant newsletters, attend industry conferences, and participate in networking events with other financial leaders in the education sector. Continuous education is key, and I make it a priority to update my knowledge regularly.

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What strategies would you use to handle budget overruns?

To handle budget overruns, I would first conduct a detailed analysis to identify the root cause. Then, I would collaborate with department heads to develop corrective actions and prioritize spending. Maintaining flexibility in reallocating funds and communicating regularly with stakeholders ensures everyone is aligned.

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Describe your leadership style and how it would benefit your team at City Year.

My leadership style is collaborative and supportive, focusing on building a strong team culture where everyone feels valued. I believe that empowering my team through training and clear communication enhances productivity and engagement, directly benefiting City Year’s financial management objectives.

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How do you ensure compliance with federal and state financial requirements?

Ensuring compliance with financial requirements involves staying updated on relevant laws and regulations, conducting regular audits, and maintaining detailed records. I also implement robust training for staff to ensure that they understand compliance requirements related to financial processes and reporting.

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What role does data analysis play in your financial decision-making process?

Data analysis plays a crucial role in my financial decision-making process, as it allows me to identify trends, assess risks, and evaluate opportunities. By leveraging data, I can make informed decisions that align with City Year’s financial performance and strategic goals.

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Alma is dedicated to fostering the people, practices, and culture that enable staff to do their best, teams to do great work, and organizations to accomplish outstanding results. We partner closely with our clients to understand their unique con...

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Full-time, on-site
DATE POSTED
December 23, 2024

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