Financial Analyst

Description

The Financial Analyst will manage the banking and financial management aspects of several savings and income support initiatives administered by the Greater Washington Community Foundation. This role will ensure proper financial operations for programs that help low-income residents save for education, home ownership, business start-up, and other approved purposes. The Analyst will also support a portfolio of funds on behalf of fundholders and other clients who are seeking the Community Foundation’s support on their philanthropic strategies. This includes drafting and reviewing contracts, processing payments, managing internal processes, and providing customer service and general administrative support to the Operations team.

In addition to the duties described in this position description, every role at The Community Foundation is expected to contribute to the organization’s overall success and its goals. This may mean that team members will be asked to take on other tasks that may not be listed here. Examples may include working on a project or specific task outside your standard area of responsibility, participating in an organization-wide task force or special initiative, or being asked to support a colleague when needed. Any additional tasks will be determined by the manager of this role in coordination with the leadership team.

Primary Responsibilities

Account Management (50%)

• Supports internal efforts to manage a portfolio of projects that center on direct cash payment processing, including liaising with the Finance department to ensure fidelity to organizational policy and IRS guidelines

Serve as a Customer Relationship Manager (CRM) and provides support to a portfolio of 40-50 funds at The Community Foundation

• Serve as a primary point of contact for an external financial institution partner that the Foundation engages with to manage participant accounts

• In partnership with a broader team, manage calls and outreach from program participants that relate to their banking activities and customer service matters

• Establish and maintain matched savings escrow accounts with a designated financial institution for program participants

• Open sub-accounts for each participant enrolled in the program

• Monitor activity in participant savings accounts to ensure funds are only disbursed for authorized expenditures

• Process participant withdrawals, deposits, and account closures

• Verify that withdrawal requests comply with program guidelines for eligible uses

• Process requests for funds when submitted by eligible participants

• Manage the disbursement process according to approved protocols for different spending categories

Financial Reporting and Compliance (40%)

• Prepare monthly financial reports detailing account activities, balances, and matching fund distributions

• Prepare monthly account reconciliation reports for each participant account and support other high volume account reconciliation reports as needed

• Provide monthly account statements for participants and reserve accounts

• Submit quarterly reports showing aggregated financial activity of all accounts

• Support annual program audits by providing required documentation

• Maintain detailed records of all financial transactions related to the program

• Document all matching fund disbursements with appropriate supporting materials

• Ensure confidentiality and security of all participants financial information

Fund Administration and Operations (10%)

• Manage processes associated with fund administration including inactive funds, low balance fund scan, annual fund payout, and fund closing

• Support data collection and administration on the fee-for-service project dashboard and pipeline of projects in Raiser’s Edge database

• Work with CRMs and other team members to ensure that fundholder and fund information is accurate and up to date, including revising fund agreements and other forms

• Receive and process organizational invoice payments on behalf of various vendors

• Provide other administrative and operations support as needed

Requirements

• At least 3 years of experience in financial management, preferably in nonprofit or government programs

• Strong understanding of banking operations and account management

• Demonstrated experience with financial reporting, bank account reconciliation, and compliance monitoring

• Experience with grant management and reporting

• Knowledge of nonprofit accounting principles and fund accounting

• Ability to translate complex financial concepts for non-financial audiences

• Strong interpersonal and customer service skills.

• Detail-oriented with excellent record-keeping abilities

• Comfort with technology and proficiency with financial management software

• Knowledge of asset-building programs and matched savings initiatives preferred

• Commitment to supporting financial empowerment for low-income communities

• CPA license or bachelor’s degree in accounting, finance, business administration, or related field preferred

Salary and Benefits

The Community Foundation values transparency and equity. The salary range for this position is $74,900.00 - $83,200, commensurate with qualifications and experience.

We offer benefits and programs that inspire a culture of engagement and productivity, such as: a hybrid work schedule and Summer Friday schedule; employee events, professional development stipend, up to fourteen paid holidays, Wellness holidays, and Paid Time Off (PTO). The benefits package includes company-paid medical, vision, and dental insurance for employees; flexible spending accounts; retirement plan with employer contribution; and more.

Salary and Benefits

The Community Foundation values transparency and equity. The salary range for this position is $74,900.00 - $83,200, commensurate with qualifications and experience.

Application

To be considered for this position, a current resume and a cover letter detailing your interest are both required.