Job Description/Job Posting updated 08/01/2025

Position Title: CFO (Chief Financial Officer) FLSA Status: Salary/Exempt/Full Time

Department: Administration Reports To: President/CEO

Location: Hybrid-based in Marquette, Grand Rapids or Battle Creek, Michigan with occasional travel

Northern Initiatives’ Mission

Northern Initiatives (NI) is a non-profit Community Development Financial Institution that provides access to capital, information and markets to advance and connect small businesses and their communities. Northern Initiatives supports entrepreneurs, businesses, manufacturing firms, banks, educational institutions, and non-profit organizations in a common effort to strengthen the economy of Michigan. With $48M in assets and $21M in net assets, NI manages a variety of loan funds. Celebrating 30+ years, NI has made more than $120M in loans to small business.

Position Summary

The Chief Financial Officer (CFO) is responsible for managing the financial operations of the organization, ensuring the organization’s financial health and sustainability. This role will lead the accounting/finance team, as well as oversee all financial reporting, budgeting, forecasting, financial analysis, and compliance requirements. The CFO will work closely with the President/CEO and Board of Directors to develop and implement financial strategies that support the organization’s mission and goals.

Job Duties and Responsibilities

Financial Management

· Develop and implement financial strategies that support the organization’s mission and goals

· Manage and oversee financial operations, including accounting, accounting policies and procedures, budgeting, forecasting, and financial analysis

· Ensure the accuracy and completeness of financial records, including the general ledger, accounts payable and receivable, payroll, and other financial systems

· Prepare and present financial reports to the President/CEO, Finance Committee, and Board of Directors, providing analysis and recommendations as needed

· Ensure compliance with all financial reporting and regulatory requirements, including tax filings, audits, funder stipulations and other reporting requirements

· Manage relationships with external partners, including banks, auditors, rating agencies and other financial service providers

· Manage liquidity risks through development and monitoring cash flow projections, asset liability matching, availability of cash for lending and maintenance of cash reserves

· Demonstrate strong ethical standards and integrity in financial management

Budgeting and Forecasting

· Develop and oversee the annual budgeting process, working closely with department and senior managers and others to develop realistic and achievable budgets with attention to strategies that enhance sustainability.

· Monitor actual performance against budget and provide regular updates and analysis to the President/CEO, Finance Committee and Board of Directors

· Develop and maintain financial forecasting models that support long-term financial planning and decision-making

Strategic Planning and Leadership

· Work closely with the President/CEO and senior leaders to develop and implement strategic plans and goals that support the organization’s mission and vision

· Lead the Finance Committee, collaborating with other committee members to provide strategic financial guidance and support to the organization

· Provide leadership and mentorship to the accounting team, fostering a culture of continuous improvement and professional development

Board Relations and Reporting

· Report on the financial performance of the organization to the Finance Committee, Board of Directors, including regular updates on budget performance, forecasts, and financial risks and opportunities

· Collaborate with the President/CEO, Finance Committee and Board of Directors to develop and implement financial policies and procedures that align with the organization’s values and strategic goals

· Represent the organization at internal and external events and meetings, providing financial guidance and support as needed

Tax Filing and Compliance

· Oversee all tax filings and compliance requirements, ensuring that the organization compliant with all relevant laws and regulations

· Manage relationships with external auditors and other financial service providers to ensure compliance with all reporting and regulatory requirements

· Implement auditor recommendations formally presented and any recommendations that would benefit Northern Initiatives

Leadership Expectations

· As a member of NI’s Senior Leadership Team, the CFO is critical in shaping our organization's culture and advancing our mission by:

o Modeling organizational values and professional behavior at all times, serving as an example for staff across all levels

o Supporting the growth and success of staff by providing mentorship, regular feedback, and opportunities for development

o Fostering an inclusive, respectful, and collaborative work environment, holding self and others accountable to these standards

o Championing policies and practices that promote equity, transparency, and shared learning

o Communicating consistently and clearly, helping staff understand organizational priorities and decisions

o Embodying these principles, senior leaders reinforce a culture of trust, excellence, and shared responsibility

Other

· Participate or lead special projects as needed

· Attend and actively participate in all team meetings, staff meetings, Diversity, Equity & Inclusion committees, and culture trainings, Clifton StrengthsFinder, planning sessions, staff retreats and other virtual or in-person meetings as needed; follow NI’s Zoom meeting expectations (being on camera, etc) for professional communication

· Attend and actively participate in all team meetings, staff meetings, DEI and culture trainings, Clifton StrengthsFinder, planning sessions, staff retreats and other virtual or in-person meetings as needed; follow NI’s Zoom meeting expectations (being on camera, etc) for professional communication

· Represent Northern Initiatives in a professional manner

· This is not an exhaustive list of job responsibilities; all other duties as assigned and/or needed for business continuity.

Physical Requirements & Schedule Requirements

· Must live/work in Marquette, Grand Rapids or Battle Creek, Michigan and be available for occasional travel throughout Michigan

· Occasional travel with in the United States and Internationally (Canada and other countries) to meet with clients, partners, and potential clients, and for conferences and events via car travel and/or commercial air travel

· Work in-person an NI office at least one day per week or more as business needs arise; in-person meetings required including meetings with the Board of Directors and committees at various locations around Michigan

· Meetings are virtual meeting via Zoom or similar platform, or in-person at NI offices or other meeting locations

· In-person meetings or trainings are required many times throughout the year around the state of Michigan to meet the needs of NI teams, clients and partners

· Long stretches of time are spent on computer work, typing, Zoom meetings and similar desk-based work

Reliable team member with a consistent schedule and dependable for clients and team

· Have a distraction-free work environment for all remote work to ensure work consistency and a professional meeting environment

· Schedule is typically M-F, business hours similar to our financial partners, with occasional evenings or weekends for meetings, travel or other business needs

· Travel within Michigan twice per year for 1 week each for all staff retreats (usually May/June and late Sept/early Oct)

· Majority of meetings and work for this role are during business hours of the Eastern Time Zone

· Driving is not required for this position, but this employee is responsible for coordinating their own transportation to/from work events (expenses for this will be budgeted/approved ahead of time by the supervisor, and payment options will be planned or reimbursement available to the employee for those costs). Reasonable accommodations for travel/transportation will be considered through the interactive process.

· If driving for work purposes, employee must maintain a valid driver’s license and vehicle insurance. It is the employee’s responsibility to ensure that full coverage vehicle insurance is current and meets all state requirements. Northern Initiatives may ask at any time for a copy of employees’ drivers licenses and/or vehicle insurance for business purposes.

Experience Requirements

Years of Experience

Type of Experience

Minimum 10 years direct experience required

· Bachelor’s degree in Accounting, Finance, or related field

· MBA or CPA strongly preferred

Minimum of 10 years experience in managing an accounting department

· 5 years non-profit experience or equivalent experience

· Experience with financial software and technology

· Experience building and leading high-performing teams

· Experience with financial institutions (loan funds) preferred

· Possess strong communication skills and able to present financial information clearly and effectively to senior management and Board members

· Proven track record of successful financial management, including experience developing and implementing financial strategies, managing budgets, and overseeing financial reporting and compliance

Supervision

This position does have supervision responsibilities of the accounting team including senior accountant, accountant, accounting assistant and accounting coordinator; this team structure may change.

Diversity, Equity & Inclusion

Our 2022-2026 Strategic Plan includes goals to increase lending to BIPOC communities, rural area, female and veteran business owners, as well as enhancing our diversity, equity and inclusion practices and policies. We welcome applicants from all walks of life and life experiences. Northern Initiatives shall not discriminate on the basis of race, color, religion (creed), gender, gender expression, age, national origin (ancestry), disability, marital status, sexual orientation, or military status, in any of its activities or operations.

Accommodations

Applicants are encouraged to contact Human Resources at careers@northerninitiatives.org if assistance is needed in the application or hiring process, or we can answer questions about our organization and its hiring process. ADA accommodation requests or other types of accommodation requests should be sent to careers@northerninitiatives.org or call (906) 228-5571. Northern Initiatives upholds all applicable state and federal employment laws.

Benefits & Compensation

This is a full time, salaried/exempt position that is 40 hours per week. Occasionally, working over 40 hours per week is necessary for business success. This position qualifies for the full benefit package including medical, dental, vision, short term disability, long term disability, life insurance, 403B with discretionary match, generous paid vacation time, paid sick time, and other benefits. Compensation is commensurate with experience/education with an anticipated range of $100,000-$170,000 annual salary. Application, resume, professional references, and background checks are required for all positions. Official transcripts may be requested. Northern Initiatives is an at-will employer based in Michigan and follows all applicable state and federal employment laws. Annual background checks are required and continued employment is contingent on those background checks being clear and meeting SBA standards.

o To Apply: please apply through Indeed or email resume/cover letter/list of references to careers@northerninitiatives.org

Job Type: Full-time

Pay: $100,000.00 - $170,000.00 per year

Benefits:

401(k)
401(k) matching
Dental insurance
Family leave
Flexible spending account
Health insurance
Health savings account
Life insurance
Paid time off
Parental leave
Vision insurance

Schedule:

8 hour shift
Monday to Friday

Application Question(s):

If you were offered this position, are you available to live/work in one of these locations: Marquette, Battle Creek or Grand Rapids, Michigan?
Does your education & experience meet or exceed the minimum requirements of this position- Bachelor degree and 10 years of finance/accounting leadership with 5 years being in the nonprofit sector?
Tell us about your experience with accounting/finance for nonprofit organizations.

Work Location: Hybrid remote in Marquette, MI 49855

Northern Initiatives

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