ProFound Executive Search is serving as an external search partner to Bancroft in its search for its Chief Financial Officer (CFO). This position reports to the (Acting) CEO of Bancroft.
About Bancroft
Bancroft is a leading regional nonprofit provider of programs and services for individuals with autism, intellectual and developmental disabilities, and those in need of neurological rehabilitation.
Position Summary
The Chief Financial Officer (CFO) will serve as a strategic partner to Bancroft’s Acting CEO, senior leadership team, and Board, helping to shape the organization’s financial strategy and position Bancroft for continued growth and long-term sustainability. With $286 million in revenue, Bancroft is seeking a strategic CFO who will combine strong financial stewardship with a forward-looking approach to financing, investment strategy, and growth. The CFO will provide leadership to a finance organization of approximately 70 staff and will partner closely with operational leaders accountable for their respective P&Ls.
The CFO will join Bancroft at an important stage in its 140-year history, marked by renewed strategy, leadership transformation, and investment in the future. Bancroft recently refreshed its three-year strategic plan and is in the midst of an active leadership transformation, creating an opportunity for the CFO to help shape the organization’s next chapter. The CFO will partner with the Acting CEO on a significant capital initiative: the construction of a new on-campus school that will expand Bancroft’s early education program. The CFO will also provide leadership for Bancroft’s existing debt and investor relationships, evaluate its investment portfolio, assess potential M&A opportunities, and help guide the financial dimensions of its continued technology evolution. The CFO is expected to bring financial sophistication and a highly collaborative leadership style, building trust, holding high standards for performance, and navigating complex financial matters.
Bancroft is headquartered in Cherry Hill, New Jersey. The region offers an exceptional quality of life, with access to Philadelphia’s vibrant arts and cultural scene, renowned universities, and leading healthcare institutions, and the appeal of established suburban communities throughout New Jersey, Pennsylvania, and Delaware.
Position Responsibilities
- Financial Strategy: Serve as a strategic partner to the CEO, shaping Bancroft’s financial strategy, capitalization, balance sheet structure, and approach to funding future growth.
- Planning & Analysis: Lead financial planning and analysis, budgeting, and forecasting, providing leaders with timely insights to support sound business decisions.
- Banking Relationships: Build and maintain strong relationships with banks, lenders, and other financial partners, representing Bancroft credibly in the financial markets.
- Debt Financing: Lead Bancroft’s financing strategy, including anticipated debt financing for new school construction and other future capital needs.
- Capital Planning: Develop a thoughtful approach to capital allocation and long-term capital planning, ensuring Bancroft has the resources and financial flexibility to advance its strategic priorities.
- Investment Management: Provide oversight of Bancroft’s investment portfolio, and lead an RFP process for investment portfolio management and a 403(b) retirement plan.
- Treasury Management: Oversee cash flow and treasury activities to support Bancroft’s liquidity, financial stability, and strategic use of resources.
- Growth & Expansion: Help identify and evaluate opportunities to fund Bancroft’s continued growth, bringing a creative and disciplined approach to accessing and deploying capital.
- Mergers & Acquisitions: Provide financial leadership and analysis for potential mergers, acquisitions, partnerships, and other strategic growth opportunities.
- Risk & Compliance: Oversee audit, financial compliance, risk management, and appropriate internal controls.
- Financial Reporting: Ensure accurate, meaningful financial reporting that gives organizational leaders and the Board a clear understanding of Bancroft’s financial performance and position.
- Board Reporting: Present financial results, forecasts, risks, opportunities, and strategic recommendations clearly and effectively to the Board of Trustees and appropriate Board committees.
- Revenue Models: Provide financial leadership across Bancroft’s contracts, reimbursement models, and other revenue streams.
- Complex Operations: Provide financial leadership across a large, multi-faceted organization, partnering with operational leaders who are accountable for their P&Ls while maintaining an enterprise-wide view of Bancroft’s financial health.
- Finance Leadership: Lead a finance organization that includes accounting, accounts payable, procurement, fleet, payroll, revenue cycle, and accounts receivable, establishing clear expectations while strengthening communication, engagement, and collaboration across the team.
- Systems & Technology: Partner on Bancroft’s evolving technology environment, including implementation of a new electronic health record with revenue-cycle and billing implications and future evaluation of other enterprise systems.
- Process Improvement: Identify opportunities to strengthen financial processes, data, reporting, and decision making.
- Enterprise Leadership: Contribute as a member of Bancroft’s executive leadership team, helping implement the new three-year strategic plan, shape culture, and drive continued growth and impact of the organization.
- Perform other duties as assigned.
Required Qualifications
- Bachelor’s degree in finance, accounting, or a related field
- Minimum of 10 years of progressive finance leadership experience
- Senior finance executive experience within an organization with annual revenue of at least $100M
- Experience leading functions/scope including: financial strategy and planning; FP&A, budgeting, and forecasting; audit, compliance, and risk management; banking relationship management; debt financing; Board and Finance Committee reporting
Preferred Qualifications
- Current and/or prior CFO experience in an organization of similar size and scope, or VP/SVP Finance or Division/Region CFO within an organization with annual revenue of $1B+
- Experience within the healthcare and/or human services field
- MBA or Master’s degree in finance, accounting, or a related field
- CFA
- Experience leading functions/scope including: financial reporting; cash flow and treasury management; capital planning; mergers & acquisitions (M&A); technology systems / ERP implementations; investment management; grants and government funding; contracts and reimbursement models; multi-entity / complex organizational structure; business growth and expansion; change management
Salary range: $250,000 - $300,000
ProFound Executive Search is serving as an external search partner to Bancroft in its search for its CFO. To express interest and learn more about the role from the ProFound team, please visit: https://www.ProFoundExecSearch.com/candidates
