Chief Financial Officer

Covenant House Michigan • Full-time • Detroit, MI, US • 4d ago

Chief Financial Officer Posting

Covenant House Michigan (CHMI), is seeking a Chief Financial Officer (CFO) to manage the organization's accounting and finance activities, including reporting, budgets, investments, cash management, audits, and asset management. Reporting to the Executive Director, the CFO will work collaboratively with all leadership team members to ensure the organization's efficient and sustainable operations.

The ideal candidate will be a mission-driven, detailed-orientated, highly collaborative leader with exceptional strategic and financial acumen and demonstrated talent for continuously improving finance systems. Additionally, the CFO will mentor the finance team, helping them achieve their professional goals and work at their optimal capacities.

CHMI provides youth facing homelessness with shelter, educational, and vocational programs. CHMI is committed to providing immediate sanctuary and trauma-informed services for all children and youth facing homelessness and those at risk of becoming unstably housed who seek help.

RESPONSIBILITIES

Finance and Accounting:

· Develop and administer financial management policies and procedures aligned with corporate guidelines;

· Recommend and implement systems and controls to ensure accurate accounting for various grantors, funding streams, and efficient financial operations, complying with standard nonprofit accounting principles;

· Oversee prudent fiscal management to maintain a positive and strong financial position;

· Direct and oversee the financial audit, ensuring timely completion and accurate financial reporting including the organization's 990;

· Analyze financial information and recommend corrective measures;

· Develop metrics and financial tools;

· Coordinate payroll and benefits with the HR Director;

· Manage RFP process (bid & selection) in collaboration with Board Finance Committee;

· Oversee the compliance with the various grantors, donors, and various Federal, State, and Local agencies and government entities;

· Maintain records of payments, contracts, leases, and legal documents.

Financial Reporting and Budgeting:

· Manage the monthly financial close process, including preparing monthly reports such as budget comparisons and trend analyses, while overseeing the finance team's month-end financial close bookkeeping;

· Work closely with the Development Team to develop grant budgets and provide timely and accurate financial reports to funders and grantors.

· Lead efforts to increase financial literacy across the organization to promote effective budget management and develop internal leadership;

· Develop annual operating and capital budgets with the Executive Director and department directors.

Organizational Leadership:

· Provide strategic leadership and vision to the finance team, fostering a culture of excellence and collaboration;

· Collaborate with executive leadership to align financial strategies with the organization's overall mission and goals;

· Promote and maintain a healthy organizational culture that values diversity, inclusion, and continuous improvement;

· Serve as a key advisor to the Executive Director and BoD on financial matters, offering insights to support informed decision-making;

· Establish and maintain effective communication and coordination between finance and other departments to ensure seamless operations.

Talent Management:

· Develop and implement talent management strategies to attract, retain, and develop high-performing finance professionals;

· Foster a culture of continuous learning and professional growth within the finance department;

· Conduct performance evaluations, set goals, and provide regular feedback to promote career development and excellence;

· Identify skill gaps and training needs within the finance team and coordinate relevant training and development initiatives.

Strategic Planning:

· Collaborate with the Executive Director and leadership team to develop the organization's strategic plans, goals, and budget;

· Execute the implementation of the strategic plan, goals, and objectives;

· Ensure that financial forecasts are aligned with long-term organizational goals.

Board Management:

· Interface with the Board of Directors through various committees and task forces, and attend/present at CHMI Board meetings, including Board Finance Committee meetings;

· Execute orders and resolutions of the BoD and national corporation as applicable.

Investments:

· Ensure adherence to the Investment Policy approved by the BoD;

· Reconcile investments on a monthly basis and report to BoD and executive leadership accordingly.

QUALIFICATIONS:

• A minimum of 8 years of senior leadership experience in finance, including forecasting, fiscal management, and analysis;

• Experience as a senior executive in nonprofit organizations, showcasing a track record of service and an entrepreneurial approach in crafting strategic plans, business policies, and practices;

• Extensive professional experience in finance, accounting, budgeting, and cost control principles, with a strong grasp of GAAP (Generally Accepted Accounting Principles);

• Strong grants tracking and reporting experience; a plus to have experience with local, state, and federal grants;

• Comfort working with a diverse population with myriad backgrounds and lived experiences;

• Awareness of and sensitivity to the needs of homeless and at-risk youth that CHMI serves; and

• Bachelor's degree in accounting, finance, or related field required; Master's degree preferred.

Covenant House Michigan is an equal opportunity employer. CHMI will not discriminate against any otherwise qualified employee or applicant for employment with respect to hire, tenure, terms, conditions, or privileges of employment because of race, color, religion, national origin, age, sex, height, weight, marital status, unrelated handicaps, or other legally protected status.

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