Description

Job Title:  Chief Financial Officer

Reports to: Chief Operating Officer

Direct Report(s): Controller

Position Summary:

The Chief Financial Officer (CFO) is responsible for tracking, monitoring, and reporting the overall financial health of the museum to the senior leadership and the Museum Board. This position’s focus is strategic oversight of the following: the Museum’s operating budget, the annual audit and tax return, and the coordination of long-range and annual planning in collaboration with the Director and Museum Board.  This position will also act as a representative and advocate of the Museum with government agencies, insurance companies, community and local business groups, and arts organizations.  As a key member of the senior leadership team, the CFO provides active leadership in all aspects of the museum’s fiscal operations and is a partner to the museum’s Director on business and strategic issues, various key relationships, and planning for the museum’s future.

Essential Responsibilities: 

Strategic Leadership

•         Serve as a strategic leader to plan, develop, organize, implement, direct, and evaluate the museum’s fiscal function and performance, creating KPIs parallel aligned with the museum’s strategic direction.
•         Establish and communicate the long-range strategic financial plan of the museum to the Museum Director, Leadership Team, Board and Finance and Investment Committee.
•         Think strategically about the business and visitor experience goals of the museum and provide cross-functional leadership to accomplish those goals.
•         Provide financial input and leadership on decision making issues affecting the museum; evaluates potential revenue generation opportunities and partnerships.
•         Develop credibility by providing timely and accurate analysis of budgets, financial reports, and financial trends to assist the Director and members of the Leadership Team in performing their responsibilities.
•         Enhance, develop, implement, and enforce policies and procedures of the museum by establishing systems that will safeguard the assets of the museum and improve the overall effectiveness of the operations.
•         Serve as liaison for the Board and Finance and Investment Committee in effectively developing solutions to business challenges and growth strategies.
•         Actively engage in museum committees and provides financial insight and perspective on organizational planning and growth.
•         Participate on Community Boards to create and leverage alliances, programming insight, and funding partnerships; engages in professional development opportunities and thorough understanding of industry standards and practices as it relates to museum operations.
  Finance.
•         Evaluate the Finance Department’s structure and team, provide coaching and development for team members, and plan for continuous improvement of the efficiency and effectiveness of the department.

Financial Management

•         Manage all assets, cash, and investments.
•         Works closely with the Finance and Investment Committee and the Board, preparing timely and accurate reports on a monthly, quarterly, and annual basis.
•         Evaluate current business performance and lead efforts to modify or redesign business strategies when and where necessary.
•         Set and monitor financing strategies and activities (including monitoring compliance with debt covenants and grant compliance), as well as banking relationships.
•         Manage liabilities to ensure the association is fiscally sound both in the short term and long term.
•         Manage the financing with banks and leasing companies on debt financing. Monitors all banking and financing relationships.
•         Oversee the preparation of reports to outside agencies, including grant reporting.
•         Oversee the preparation of the IRS Form 990.
•         Ensure that the proper reporting to outside agencies is performed timely.
•         Oversee budget process, working with the Leadership Team for the implementation of well planned, realistic annual budgets that are prepared and approved by the Board in a timely manner.
•         Oversee cash flow planning and ensure availability of funds as needed.
•         Ensure timeliness, accuracy, and usefulness of financial and management reporting for federal and state funding, foundations, private grants, and the Board; oversee the preparation and communication of monthly and annual financial statements.
•         Ensure maintenance of appropriate internal controls and financial procedures.
•         Oversee the Finance department to ensure proper maintenance of all accounting systems and functions.
•         Ensure all required activities are properly documented with appropriate support maintained, including all journal entry activity, unusual or infrequent transactions, related party transactions, accounts payable/receivable and daily deposit activities.
•         Prepare and/or review grant budgets, as necessary.
•         Ensure legal and regulatory compliance regarding all financial functions.
•         Work closely with Banks, Auditors, Contractors, and other professional advisors.
•         Prepare requests for proposals for review of cost and performance of outside contractors for services or goods as needed.
•         Remain up to date on nonprofit audit best practices and state and federal law regarding nonprofit operations.
•         Working with the Museum Director, ensure that the pay structure is fair and adequate for all staff.
•         Perform ad hoc analyses and reporting as needed, including at the request of the CEO and Finance and Investment Committee.
•         Oversee the performance of the department’s tasks, including tracking accounts receivables, approval of expense requests, management of accounts payables and disbursements.
•         Review monthly account reconciliations and journal entries and oversee the monthly close and reporting process.
•         Monitor investment portfolio performance and schedules quarterly portfolio review meetings with investment team, Museum Director, and Finance and Investment Committee.
•         Manage the payroll function ensuring efficient systems, processes, and controls.

Administration

•         Prepare for and manage the annual audit process. Ensure audits are subject to the proper audit standards and reporting requirements to ensure compliance with public grants, including Single Audit requirements as needed.
•         Assist in vendor selection for key areas such as banking/treasury, lending, licenses, and subscriptions. When needed, lead the RFP and vendor selection processes with input and assistance from the CEO, Leadership Team, and the Board.
•         Responsible for annual commercial insurance policies renewal.
  Prepare documents for Workers Compensation annual audit. Working with IT, ensure adequate policies are in place for PCI-DSS compliance, including annual PCI compliance testing as well as cybersecurity policies and risk mitigation.

Work Conditions 

Work is performed in a temperature controlled professional office environment.

Requirements

Required Skills and Qualifications:

•         10+ years of progressive financial leadership experience as CFO, Finance Director, or VP Finance in a midsized organization, preferably in a museum or nonprofit setting.
         
• Bachelor’s or master’s degree in accounting, finance, or business or any equivalent combination of experience and/or education from which comparable knowledge, skills, and abilities have been achieved. CPA, CMA, or MBA a highly desired.
       
•   Minimum of five years of fund accounting experience; endowment management, grant management, budgeting, financial application software, and project management experience.
       
•   Significant supervisory experience in a nonprofit environment and an ability to work with direct reports to establish goals for each year, coach, evaluate, and guide professional development.
  Demonstrated ability to think critically and globally to make decisions that support the health and sustainability of an organization. 
         
•  Experience in developing financial analyses that support strategic efforts.
• Significant experience working with external boards and committees.
• Strong knowledge of US GAAP, internal controls, and financial reporting required.
• Successful experience in grants management, specifically in the compliance and reporting of government, corporate, and foundation grants, is preferred.
• Superior analytical and project management skills; ability to manage multiple priorities efficiently and effectively, with strong follow-through.
• Experience working with investment advisors and knowledge of invested assets.
• Ability to represent the museum with a high level of integrity and professionalism, adhere to policies, and support management decisions in a positive, professional manner.
• Ability to build and maintain effective positive working relationships with management, the Board, donors, vendors, and visitors.
• Proficiency with CRM applications such as Blackbaud Altru. Experience with capital campaigns a plus.
• Strong attention to detail and analytical and problem-solving skills.
• Excellent organizational skills and process/project management abilities.
• Self-motivated to learn new concepts and participate in new projects. 
• Demonstrated ability to operate with integrity, discretion, and professional maturity.
• Excellent communication and interpersonal skills, with the ability to build trust and rapport, demonstrate listening skills and good judgment, and work with a variety of internal and external stakeholders.
• Personal qualities of integrity, credibility, and unwavering commitment to the museum’s mission; a proactive, hands-on strategic thinker who will own, in partnership with the COO, the responsibility for finance.

Physical Requirements

While performing the duties of this job, the employee is frequently required to stand and reach with hands and arms. The employee is regularly required to use their hands to finger, handle, or feel objects, tools or controls; and talk or hear. The employee is occasionally required to walk, sit, and climb stairs/ladders. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.