Chief Financial Officer
The Organization
Invest Newark (NJ) is a mission‑driven economic development organization working in close partnership with the City of Newark and public sector agencies to advance equitable economic prosperity for all Newark residents. We deploy innovative financial tools, steward public and philanthropic capital, expand access to affordable housing and digital infrastructure, support small and minority‑owned businesses, and coordinate across government, private, and nonprofit stakeholders to build vibrant, inclusive communities.
Operating at the intersection of public finance, economic development policy, and community investment, Invest Newark manages a diverse portfolio of initiatives with an annual operating budget exceeding $10 million.
The Opportunity
Invest Newark seeks a Chief Financial Officer (CFO) who brings a deep commitment to public service and experience navigating the financial, regulatory, and operational complexities of a public‑sector or quasi‑governmental environment. The CFO is the organization’s senior financial executive with wide financial and operational authority.
As a strategic partner to the President & CEO and a core member of the senior leadership team, the CFO will:
- Steward public, private, and philanthropic funds with transparency and accountability.
- Lead all financial, compliance, and operational functions with a focus on public trust, responsible governance, and long‑term sustainability.
- Directly supervise a team of 3–4 professionals and oversee organizational operations, ensuring efficiency and alignment with public‑sector standards.
- Serve as Treasurer of the Board of Directors and primary liaison with auditors, financial institutions, and government partners.
This highly visible role requires an executive skilled in balancing fiduciary rigor with the adaptive, mission‑aligned execution required in a public‑impact environment.
Key Responsibilities
Financial Leadership
- Provide strategic financial leadership for an organization with an annual budget exceeding $10 million, ensuring stewardship of public, grant, and restricted funds.
- Lead budgeting, forecasting, cash management, treasury functions, and internal controls consistent with public‑sector best practices.
- Develop scenario analyses and long‑range financial models that support government‑aligned program planning and policy‑driven initiatives.
- Ensure timely, accurate, and transparent financial reporting for the Board, funders, public agencies, and regulatory bodies.
Strategic Planning & Public‑Sector Engagement
- Partner with the President & CEO on long‑term strategy, multi‑year financial planning, and policy‑aligned program development.
- Represent Invest Newark with public agencies, financial institutions, foundation partners, and civic stakeholders.
· Collaborate with the City’s citywide grants officer to support coordinated grant development, fiscal oversight, and compliance for City-aligned funding opportunities.
- Contribute to public‑sector funding strategies, capital formation, and intergovernmental partnerships.
Governance, Compliance & Risk Management
- Serve as the primary liaison to external auditors, lead audit planning, compliance, and preparation of tax filings and financial statements.
- Ensure adherence to federal, state, and local regulations governing grants, public funds, and program operations.
- Support finance and audit‑related Board and committee functions with rigor and transparency, reinforcing public trust.
Capital Structure, Investments & Fund Management
- Oversee structuring of real estate projects, and financing for broadband, small business, and economic development programs, including public‑sector capital tools such as HOME, CDBG, state Urban Enterprise Zone programs, and municipal funding streams.
- Maintain strong relationships with government finance entities, lending institutions, and philanthropic partners.
- Manage investment portfolios, monitor performance, and support prudent, mission‑aligned capital allocation.
People Leadership & Organizational Operations
- Manage and develop a team of 3–4 finance and operations professionals, fostering a culture grounded in public service, accountability, and continuous improvement.
- Oversee office operations, vendor management, and administrative systems to maintain an efficient, well‑functioning environment.
- Partner with HR, senior leadership, and external agencies to ensure alignment of systems, staffing, and workflows with public‑sector standards.
Information Technology Oversight
- Provide executive oversight for IT strategy and budgeting to ensure financial integrity, cybersecurity, and compliance with public‑sector requirements.
- Maintain data protection and security practices consistent with state and federal standards.
Ideal Candidate Profile
The ideal candidate is an experienced financial and operational leader who thrives in mission‑driven, public‑sector, or quasi‑governmental environments. They will demonstrate:
- Bachelor’s degree in finance, Accounting, Economics, or related field (CPA, CFA, MBA preferred).
- Successful track record/experience in public or quasi-public entities working with a Board of Directors.
- Experience overseeing organizations or portfolios with budgets of $10 million or more.
- Expertise in nonprofit, government, or public‑sector accounting; grant and fund management; and compliance.
- Experience managing professional staff and operational functions.
- Strong communication skills and comfort engaging elected officials, board members, agency leaders, and community stakeholders.
- A demonstrated commitment to equity, public service, and community impact.
Why This Role Is Compelling
- Executive oversight of a $10M+ public‑impact operating budget.
- Opportunity to shape Newark’s economic development agenda in partnership with government and civic leaders.
- Exposure to public‑sector capital tools, community development finance, and policy‑driven initiatives.
- Direct ability to advance equitable economic growth in one of the nation’s most dynamic urban communities.
Compensation and Benefits
· The salary for this position will be commensurate with qualifications and experience. In addition, there is a suite of excellent benefits, including medical, dental, and vision plans; a 403B plan with a generous employer match; and generous paid time off as well as other offerings.
· This position is a hybrid role, with the expectation of 3-4 days/week in the office balanced with remote work.
Equal Opportunity Employer
Invest Newark is an Equal Opportunity Employer and encourages applications from candidates who reflect the diversity of Newark’s communities.
