Title: Chief Financial Officer (CFO) – Remote

Reports To: Chief Executive Officer (CEO)

Works With: Chief Operating Officer (COO) and the Finance & Audit Committee Chair, Controller (direct day-to-day finance partner), audit firm, outsourced tax preparer, OCIO/investment partners (as needed for accounting/reporting coordination), senior leadership and Board committees

Organization Overview

The J.F Maddox Foundation is a $310M family foundation in Lea County, New Mexico. Alongside its partners, the Foundation invests over $13M annually in education, social services, and community development for a greater quality of life for Lea County residents.

Role Summary

The CFO is the Foundation’s senior finance leader and strategic advisor responsible for high-level financial leadership, financial governance, risk management, and board-facing financial reporting. This role is designed as a remote, part-time professional services position and directs the Controller, who manages daily accounting operations and staff.

The CFO ensures the Foundation has strong internal controls, accurate and timely reporting, effective budgeting/forecasting, and smooth coordination with external partners (audit firm, tax preparer, and OCIO as applicable). This role supports the CEO, COO, Finance & Audit Committee, and Board with clear financial analysis and actionable recommendations in alignment with the Foundation’s mission and goals.

Key Duties and Responsibilities

Financial Leadership and Governance

Serve as senior financial advisor to the CEO and Board (including Finance & Audit Committee).
Establish and maintain appropriate financial governance, oversight, and review cadence (monthly/quarterly/year-end).
Provide guidance on finance-related policy development and ensure appropriate internal control structures for a small-office environment.
Ensure that financial policies, procedures and internal controls are aligned with Generally Accepted Accounting Principles and applicable governmental, legal/regulatory, and contractual requirements.
Embody the Foundation’s Core Values and ethical principles.

Financial Reporting and Oversight

Oversee the timely preparation and review of monthly and quarterly financial statements, schedules, and key performance reporting (prepared by the Controller).
Review significant journal entries, balance sheet reconciliations, grant payables reporting, and key accounting estimates.
Provide written variance analysis and financial narrative suitable for senior management and Board reporting.

Budgeting, Forecasting, and Planning

Lead the annual budgeting process in collaboration with the CEO and department leaders.
Oversee cash flow forecasting and scenario planning; support multi-year forecasting tied to grantmaking and operating needs.
Provide financial models and decision support for strategic initiatives as requested.

Audit Management

Lead the annual audit process; ensure readiness, appropriate workpapers, and timely completion (day-to-day managed by Controller).
Serve as the primary executive liaison with the external audit firm and Finance & Audit Committee regarding audit scope and planning, queries of management, proposed adjustments, results, and recommendations.

Tax and Compliance Oversight (Outsourced Preparation)

Manage the relationship with the outsourced tax preparer; review planning items and ensure accuracy of final filings (e.g., 990-PF/990-T, state filings, excise tax considerations).
Ensure internal tracking and documentation supports accurate filings (e.g., grants paid/approved schedules and payout calculations).

Investment Accounting Coordination (OCIO is Outsourced)

Coordinate with the Controller and OCIO as needed to ensure investment activity is properly recorded and reconciled for financial reporting and audit.
Provide oversight to ensure investment-related accounting and reporting aligns with policy and audit requirements (without serving as the investment manager).
Maintains strategic relationship with OCIO
Reviews investment performance and policy alignment
Oversees Investment Committee reporting

Risk Management and Controls

Ensure proper segregation of duties and strong controls across all financial functions
Advise on improvements to accounting policies, finance procedures, and documentation.
Provide finance-related risk input (including insurance/contract compliance as appropriate to finance oversight).

People Leadership

Provide functional leadership to the Controller; support performance expectations, training priorities, and professional development.
As needed, participate in hiring/selection support for finance roles, in coordination with the CEO/COO.

Qualifications / Requirements

Bachelor’s degree in Accounting, Finance, or related field required; CPA strongly preferred; Master’s degree a plus.
10+ years of progressive finance/accounting leadership experience; nonprofit/foundation, fund accounting, or complex investment-accounting exposure preferred.
Demonstrated expertise in financial reporting, audit management, internal controls, budgeting, forecasting, and board communications in an organization with a $2M+ annual budget.
Ability to translate financial concepts to non-financial stakeholders; excellent written and verbal communication skills.
Strong proficiency with Excel and financial software systems; experience with Sage Intacct preferred.
Strong ethical principles and high integrity.

Work Structure

Remote (expected to support monthly close review, quarterly board cycles, annual budget, and audit/tax timelines).
Occasional travel to Hobbs, NM will be required for key planning sessions or board meetings (as needed).

JF Maddox Foundation

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