The Chief Financial Officer (CFO) is a key member of the executive leadership team and reports to the President. The CFO is responsible for steering the YMCA of Metropolitan Chicago’s and it’s Endowments financial strategy, ensuring financial health, and driving alignment with overarching business objectives in accordance with the strategy and policies of the Board of Trustees, President, and Executive Management. This role involves the oversight of all financial, treasury, compliance and various administrative functions. Areas of responsibility include planning, financial reporting, financial analysis, treasury, budgeting and administrative support function management.

The CFO must build, operate, and maintain an administrative and financial information system to deliver timely, accurate, and relevant financial and administrative information. The CFO must function well in a team environment collaborating well with both the Board of Managers, Executive Leadership Team and the Finance Organization The CFO serves as a strategic advisor to the CEO and board of directors, providing insights that shape business decisions and long-term growth initiatives and must have a good business acumen to contribute to development of Y strategic plans.

As the organization's financial steward, the CFO leads financial operations, fosters a culture of accountability and transparency, and builds strong relationships with internal and external stakeholders. The CFO is adept at balancing financial stewardship with innovation, growth, and stability.

As the organizations administrative leader, the CFO leads corporate functions that support the entire organization.

Salary range for this role is $250,000.00-$275,000.00 per year, includes full-time benefits

Benefits

Our staff is the Y's greatest asset. Our teams provide valuable skills, knowledge, and the passion that is essential to the contribution and positive impact in our communities, which is why we offer Y employees numerous perks and benefits, including:

Comprehensive benefits package for eligible employees
Opportunity for eligible employees to participate in the Y's retirement fund
Be part of a team that is passionate about building and sustaining an inclusive and equitable environment for all staff, volunteers, and members
Do meaningful work and contribute to the advancement of the YMCA vision by meeting the needs of the people in our communities
Complimentary Family YMCA membership and an employee discount on select programs
Career advancement opportunities - grow your career at the Y!

Scope of Responsiblities

Financial Strategy, Planning and Strategic Initiatives

Responsible for all areas of financial strategy planning, business analysis, investment management, capital budgeting, and capital expenditure control; analyzing and interpreting financial data for the senior management; and advising senior management on the financial implications of proposed and current investments and expenditures
Responsible for overseeing and managing accounting principles, standards, and procedures of the operations
Participates in the strategic planning of grants administration
Directly participates in the strategic planning process. Develop, maintain, and update annually a manual of policies and procedures for financial operations
Evaluate execute and manage the liability structure of the Y , including assessment and implementation of Y debt financing, leasing, hedging and other financing options to effectively fund Y operations

Financial Reporting and Analysis

Responsible for providing accurate, transparent, credible, and timely analysis and reporting of current financial results, trends, and long-range forecasting to optimize financial performance to the Executive Team, all Associates with fiscal responsibility, Audit & Finance Committee, Executive Committee, and Board of Managers
Responsible for providing senior management and the Board of Directors with advice on the financial implications of business activities and making recommendations to strategically enhance financial performance
Prepare weekly and monthly financial statements, analysis and other financial reports for the Board Finance Committee, President, Senior Management, and all Associates with fiscal responsibilities
Demonstrate financial acuity through a detailed understanding of and ability to communicate financial performance, including issues, areas of concern, and emerging trends; ability to contingency plan for budget and forecast shortfalls at all levels of the organization

Budgeting and Cost Management

Responsible for oversight, preparation, and accuracy of budget and related comparative reports, including spread and variance analysis
Responsible for all areas of accounting, including budget preparation and control, income management, including billing and collection, and accounts payable
Provide financial oversight for defined contribution plan, defined benefit plan, and other financial benefits
Responsible for cash management and making recommendations for cost-savings procedures, debt management, and compliance; Holding the Y Leadership Team accountable for financial performance and cash usage targets and driving change and appropriate response actions when targets are unmet
Demonstrate financial discipline in cash management and ability to keep the Y compliant with all external reporting requirements, such as debt covenants

Compliance

Assure accuracy of all IRS and government reporting, including corrections and amendments and inquiry responses as needed
Ensure compliance with relevant federal, county, state, and city laws and regulations with good accounting and financial management practices Responsible for all monthly, quarterly, and annual regulatory and financial reporting, which includes grants, payroll taxes, property taxes, and any other reports as needed to all federal, state, and local agencies as required
Keep apprised of compliance and regulatory issues in all areas of responsibility
Coordinate the annual audit. The audit will be conducted in a timely manner to allow the Board and senior management ample time to correct any items in the management letter
Responsible for managing relations, covenant compliance and reporting to YMCA debt holders and debt guarantors

Administrative Support Management

Responsible for the oversight and management of key corporate support functions such as HR, legal, Risk and IT
Provide oversight and leadership for all areas of corporate support
Responsible for risk management across all corporate functions
Provide leadership for HR development and management

Leadership and Team Development

Exhibits strong leadership capabilities as a key Y leadership team member. This includes challenging decisions and investments unsupported by sound financial modeling
Lead the development of an effective and highly efficient organizational design for the financial team
Schedule, evaluate, train, supervise, mentor, lead and direct the finance and support departments

Stakeholder Relationships

Act as a liaison for the Board Finance and Investment Committee, setting dates, maintaining notes, and organizing meetings to ensure the committee covers the duties outlined in their charter
Responsible for establishing and maintaining relationships with Banks, Audit/Accounting Firms, and Board of Managers and Board of Trustees and all interested third parties
Interface with appropriate outside agencies, as directed by the CEO, to exchange information necessary for the successful operation of the Association. Perform problem resolution with outside agencies as needed

Mergers, Acquisitions

Responsible for running the process to include all required communication, approvals and analysis as set forth by Company policies and as directed by the Board of Directors and Board of Managers

Treasury

Lead and manage the Association’s working capital needs in alignment with the Association’s budget, forecast and Board directives
Work directly with the Association’s Investment Committee, financial institutions and investment consultants to ensure working capital and invested funds are managed to and in alignment with the Association’s Investment Policy

Minimum And Preferred Qualifications

Bachelors degree, CPA or Masters in Business, Accounting, Finance or related field
Ten or years of progressive accounting and leadership experience
Five or more years in management roles

Child Abuse Prevention - Support the YMCA’s commitment to child abuse prevention by:

Reporting any items that may provide a health or safety hazard to staff, members or guests to your supervisor
Following all policies and procedures related to keeping children safe in our facilities and programs, including those related to the monitoring and supervision of children
Reporting any suspicious behavior and violation of policy and procedures to your supervisor
Completing all child abuse prevention training, as required

YMCA of Metropolitan Chicago

New Jobs

Business Operations Coordinator

Chief Financial Officer