At the MBTA, we envision a thriving region enabled by a best-in-class transit system. Our mission is to serve the public by providing safe, reliable, and accessible transportation. MBTA’s core values are built around safety, service, equity, sustainability, culture, and accessibility, and each employee that works for the MBTA performs their roles based on our vision, mission, and values. This includes attendance, participation, and contribution in local safety committee meetings as needed.
Job Summary
The Chief Financial Officer (CFO) will provide executive leadership and strategic oversight of the Agency’s financial operations. The CFO will plan, organize, and direct the financial management, budgeting and accounting functions of the Authority. The CFO will also oversee the reconciliation and accounting of all revenue generated through system operations and due to the Authority through contractual agreements. The CFO coordinates the development of fare collection controls and methods to strengthen financial oversight and maximize revenues. The CFO will collaborate with external financial advisors, financial institutions, underwriters, auditors, boards, government agencies, labor unions and other key stakeholders. This position operates under the general direction of the Chief Administrative Officer.
The CFO will oversee a team of highly skilled professionals and provides counsel to MBTA Leadership as the Agency develops and implements long-term funding solutions while supporting and advancing system-wide transformation and improvement. This work encompasses financial planning including the development of budgets, financial plans, accounting, treasury operations, capital finance and accounting and risk management.
The CFO will conduct and lead clear communication of financial analysis to provide the Agency’s leadership and Board with information to make sound management and budgetary decisions. Working across departments, the CFO will ensure that departments and leaders have access to finance information that will assist the Agency to make fiscally responsible business decisions.
Duties & Responsibilities
- Directs and oversees the financial management, treasury, risk management, capital finance and accounting, and controllership functions of the Authority through management, professional and administrative personnel, including revenue recognition, debt issuance, investment management, cash management, risk management, tax matters, inventory and property controls, payroll, general accounting, and internal and external audit functions.
- Serves as the Authority’s senior financial advisor and provides financial counsel to the Chief Administrative Officer, the General Manager and the Board of Directors. Provides governance and executive oversight of the Financial Management Information System (FMIS), including successful implementation of the capital cost accounting system
- Leads the development of a strategic, multi-year pro forma financial projection to guide long term financial planning and organizational decision making and consults with external financial advisors, consultants, and underwriters in the development of the most cost-effective financial plans and strategies for the Authority.
- Directs and oversees the planning, preparation, development, consolidation and monitoring of the operating and capital budget providing timely and accurate data necessary for the formulation of the Authority’s fiscal programs and plans
- Oversees the establishment of enterprise wide financial policies and procedures and ensures rigorous compliance across all departments and ensures adherence to those policies and procedures.
- Coordinates with senior leadership to safeguard and optimize the Authority’s financial resources; works through the Chief Administrative Officer to align financial strategy with the General Manager, Chief Operating Officer, and Chief of Capital Programs; and engages with Federal, State, and local agencies on all financial matters affecting the Authority.
- Collaborate with the Labor Relations team to align CBA negotiations with contract expiration dates and legal requirements. Analyzes and models the short- and long-term financial impacts of proposed CBA terms—including wages, benefits, pensions, and other post-employment benefits —to inform negotiation strategies. Directs treasury operations and debt administration, including bond issuance, debt service planning, tax-exempt financing, lease financing, and cash management including relations with banks, investors, financial advisors, and rating agencies.
- Oversees Treasury to create new business opportunities including access to private capital markets, public-private partnerships and others.
- Collaborate with the Real Estate department to maintain oversight of real estate portfolios, including financing acquisitions, leases, and sales,
- Evaluates and optimizes fare payment systems, ensures efficient cash collection systems, and supervises internal control frameworks and financial policy enforcement.
- Oversees implementation and monitors compliance with GAAP, GASB, federal, state, and local funding and regulatory requirements (e.g., FTA), and manages pension fund strategies.
- Reviews and oversees investment manager performance, insurance and risk management policies, and maintains transparency for public and board stakeholders.
- Represents the Authority externally—with boards, legislative bodies, regulatory agencies, and community partners—and participate on internal committees such as MBTA Main Retirement Fund Board, Headcount Committee, and others
- Drives high level benchmarking initiatives to evaluate performance against peer transit agencies and inform strategic improvements
- Partners with procurement leadership to identify and execute cost optimization strategies and reduction initiatives
- Leads and develops the Agency’s finance organization, establishing organizational structure, performance expectations, professional standards, and succession planning for financial management personnel.
- Perform all other duties and projects that may be assigned.
Additional responsibilities may include focus on one or more departments or locations. See applicable addendum for department or location specific functions.
Supervision
- Directly supervises an internal team of finance professionals at various levels
Minimum Requirements & Qualifications
- A bachelor's degree in finance, accounting, economics, business administration or a related field
- A minimum of fifteen (15) years of progressively responsible financial leadership experience in public or private sector financial and accounting management
- Minimum of seven (7) years of related experience in a leadership capacity.
- Demonstrated experience leading a complex finance organization, including managing senior-level professionals and developing high-performing teams.
- Demonstrated experience overseeing large, complex operating and capital budgets, including budget development, forecasting, monitoring, variance analysis, and long-range financial planning.
- Extensive experience with financial reporting, accounting, internal controls, audits, and regulatory compliance, with demonstrated knowledge of GAAP and applicable governmental accounting standards.
- Demonstrated experience in treasury management, cash and liquidity management, debt financing, investments, and/or capital markets.
- Experience developing multi-year financial forecasts, scenario analyses, and financial strategies to support executive-level decision-making and long-term fiscal sustainability.
- Strong executive leadership, communication, negotiation, analytical, and decision-making skills, with the ability to exercise sound judgment on complex and sensitive financial matters.
- Demonstrated ability to identify and manage significant financial and enterprise risks and develop strategies to mitigate financial exposure.
- Ability to plan, organize, and manage highly complex financial accounting processes
- Experience providing strategic financial advice to executive leadership, Board of Directors, Advisory Board, various governmental regulatory bodies, and other interested parties in the effectiveness of the Authority’s financial management functions, including presenting complex financial information in a clear and actionable manner.
- The ability to pass background screenings: a Criminal Offender Record Information (CORI) check; and the MBTA's medical requirements, including a physical examination and drug and alcohol screening.
- Have a satisfactory work record including overall employment, job performance, discipline and safety records. For internal candidates, the aforementioned applies to the two (2) years immediately prior to the closing date of the posting. Infractions and/or offenses occurring after the closing of the posting and before the filling of a vacancy may preclude a candidate from consideration. The ability to supervise and work effectively with a diverse workforce
Substitutions
- A high school diploma or GED with an additional seven (7) years of directly related experience substitutes for the bachelor’s degree requirement.
- An associate’s degree from an accredited institution and an additional three (3) years of directly related experience substitutes for the bachelor’s degree requirement.
- A master’s degree in a related subject substitutes for two (2) years of general experience.
- A nationally recognized certification, or statewide/professional certification in a related field substitutes for one year of experience.
Preferred Experience & Skills
- Master's Degree in Finance, Accounting, Economics, Business Administration or a related field
- Certified Public Accountant (CPA)
- A minimum of ten years' experience in public sector financial and accounting management in Massachusetts government or large public transit systems
Job Conditions
- Ability to effectively read, comprehend, communicate, and respond to instructions, orders, signs, notices, inquiries, etc. in English.
- Be at least eighteen (18) years of age, except if participating in an approved high school internship / co-op program.
- Ability to commute to assigned work locations in the Boston, MA metro area, as required by the role.
- Ability to provide internal and external customers with courteous and professional experiences.
- Ability to work effectively, independently, and as part of a diverse workforce team (or supervise, if required).
- Ability to uphold the rights and interests of the MBTA while building and maintaining effective relationships with employees and co-workers.
- Ability to adhere to rules, regulations, collective bargaining agreements (if applicable), and policies of the MBTA, including the EEO, anti-discrimination, anti-harassment, and anti-retaliation policies.
- Have a satisfactory work record for the two (2) years immediately prior to the closing date of this posting (unless if current student or recent graduate), including overall employment, job performance, discipline, and safety records (infractions and/or offenses occurring after the closing of the posting and before the filling of a vacancy may preclude a candidate from consideration for selection).
- Ability to pass a Criminal Offender Record Information (CORI) check, comprehensive background screening, and / or medical Clinic screening, potentially including physical examination and drug and alcohol screenings.
- Ability to work all shifts and / or locations assigned, directed, or necessary for this position, including (for some transit / operations roles) up to twenty-four (24) hours per day, seven (7) days per week as necessary to accommodate severe weather conditions, emergencies, or any other circumstances that may potentially impact service or the safety of service.
- Intern / co-op staff must be enrolled full or part-time in an accredited educational program and maintain a cumulative GPA of at least 2.5 for the entire duration of the internship / co-op. Additionally, interns / co-ops must have valid work authorization and U.S. Social Security Number prior to starting pre-employment screenings / pre-boarding, working in their positions, and throughout the duration of their program.
Disclaimers And Definitions
- General Disclaimer: The statements contained in this job description are intended to describe a summary, general nature, and complexity of typical job functions and do not represent an exhaustive list of all duties, tasks, and responsibilities required of staff assigned to this position.
- Application Completion: It is each applicant’s responsibility to ensure application details are entered completely and correctly, including updated work and education histories (past and current). Incomplete applications may not be considered. Attachments do not substitute for application fields. The recruitment team does not have access to existing employee data / history.
- Application Deadlines: Applicants should apply as soon as possible, as the MBTA may stop considering applicants after a sufficiently large applicant pool is established.
- Work Environment: The physical demands and work environment characteristics described here-in are representative of those an employee may encounter while performing the essential functions of this job. Reasonable accommodations can be made to enable individuals with disabilities to perform essential functions. See job description for role-specific requirements.
- Work Eligibility: All employees must be legally authorized to work in the United States and on an unrestricted basis. The MBTA does not have an employer work sponsorship program. However, if you have unrestricted work authorization, or are sponsored by a separate entity, you are welcome to apply. Further, all persons hired will require a U.S. Social Security Number prior to starting the position and employees will be required to complete a Form I-9 to verify their identity and eligibility to work in the U.S.
- Interviews: Candidates should ensure they arrive on time, are prepared, can remain for the duration, and if remote, are in a quiet place without distraction, for the interview. Candidates who do not attend their interview without advance authorization, including an email confirmation of a rescheduled time/date from Human Resources, will be considered a no-show and disqualified from consideration for the position. Related to rescheduling, on a one-time basis, and due to something emergent, you may be allowed to reschedule the interview. In addition, Human Resources may require documentation supporting the request. However, should you need to reschedule, you will need to contact your Recruiter directly by email.
- Safety Sensitive Positions: Employees working in this classification will be subject to periodic physical examinations plus random drug and alcohol testing.
- On-call or 24/7 Positions: Employees working in this classification must be available to respond to page / text / call and report to work as determined by assigned department or the Authority.
- Essential / Emergency Staff: During declared "states of emergency," employees working in this classification are required to report to work for their assigned work hours or as directed by management.
- ADA Accommodations: The MBTA makes reasonable accommodations for applicants with disabilities. If you require an accommodation during this process, please contact the MBTA's ADA Unit at 617-222-5751 or hradaaa@mbta.com .
- Diversity, Equity, and Inclusion: The MBTA is an Equal Employment Opportunity Employer . For terms, descriptions, and definitions related to diversity, equity, inclusion, veteran status, and immediate family members that you may find on the application form, please visit mbta.com/careers-app-definitions .
- Intern / Co-Op Benefits: Employees taking part in an internship or co-op at the MBTA are eligible to receive accrued paid sick leave as well as a monthly transportation pass, based on the city from which the intern / co-op commutes to work, at no cost. However, no additional benefits are currently offered for interns or co-ops.
