Overview

Job Summary

EDA Overview

Join the NJEDA and help lead New Jersey to sustainable economic growth, fostering equitable opportunities and vibrant communities. We offer hybrid work, a supportive culture, and robust benefits, including health insurance, retirement plans, and extensive wellness programs. Make a tangible impact and shape New Jersey's future with innovative economic development at NJEDA.

Job Overview

The Chief Financial Officer (CFO) has overall responsibility for strategic planning and implementation of the financial sustainability of the NJEDA. The CFO also develops an annual fiscal plan to support the EDA’s operating plan and prepares financial projections that are presented to Executive Leadership, Audit Committee, and Board of Directors for consideration and approval.
The CFO oversees the finance organization which includes two departments: Accounting & Financial Reporting and Finance. Responsible for all aspects of financial accounting, reporting, budgeting, financial operations, FP&A, treasury services, investment management, capital debt financing, state appropriation management, external reporting, and external audit.
Drives the development and performance of the finance organization to partner effectively throughout the organization, delivering excellent, proactive, customer-oriented information, analysis, and services. Continuously evaluates and improves the finance function (people, process, and systems) and applies technology to maximize performance to support NJEDA’s mission.
This position requires an experienced finance executive who demonstrates a good mix of operational/technical finance management, strategic financial leadership/partnership, and the ability to stay close to the details while also contributing at a broad level.

Salary Range-$184,450-$195,300

Responsibilities

Duties

Daily Tasks and Responsibilities:

Develop and implement financial management strategies and practices aligned with the broader organizational strategy and growth objectives
Provide finance support to strategic initiatives and organizational needs. Continually assess financial strategies and policies to ensure they remain compliant with regulatory, operational, and legal changes.
Enable cross-functional division and department-level decision making through relevant financial reporting and informative dashboards
Ensure strong internal controls are in place through cash management and investment policies
Partner with NJ Treasury - Office of Management & Budget and NJEDA executive management to coordinate annual budget appropriation requests and provide updates on existing funding status, spending, and outcomes
Oversee the annual audit and ongoing controls of the organization. Manage communications and interaction with external auditors and oversee the production of financial statements and tax documents.
Manage key contracts with external partners for auditing, actuarial, investment, and banking services
Responsible for maintaining the Audit Committee Charter and ensuring compliance with its requirements
Ensure departmental practices and processes are in compliance with NJEDA policies and guidelines and are consistently applied
Lead, attract, manage, motivate, develop, and retain high performing talent/teams. Promote teamwork and communication to encourage an interactive, cooperative, collaborative, and customer-focused work environment among divisions, staff, and external customers.
Create succession and development plans for all finance staff to ensure continuity of service and encourage employee growth.

Projects:

Serve as inter-departmental team leader/executive sponsor for financial driven special projects, and contribute to the solution of management, legal, or financial issues from an institutional perspective
Oversee management of financial systems, including the periodic update, enhancement, or replacement of such systems
Drive continuous improvement of the finance function with the assistance of project managers and finance staff
Partner with other business units that manage systems that integrate with or have dependencies on the financial systems
Evaluate current and proposed enhancements for financial review programs to support the management of NJEDA projects by performing:
- Cash flow modeling
- Financial information review
- Operating expenditure and cost allocation review
- Contract administration
- Federal and State financial compliance
- Review and processing of reimbursement requests

Goals and Objectives:

Partner with NJEDA business units to monitor progression and reporting related to the revenue goals and expense targets of the annual and long-term strategic plans
Provide expert consultation with executive management and product owners on appropriateness of finance fee revenue levels to support ongoing operations to encourage NJEDA’s continued financial sustainability

Collaboration and Cross-Divisional Interaction:

Ensure that revenue streams are budgeted, monitored, and tracked by creating and regularly reconciling annual business plans with primary revenue generators, the principal areas of earned income, and government support. Partner with other senior EDA executives to manage, report, and analyze the institution's investment portfolio, investment policy & OPEB trust. Identify, review, and report on areas of potential institutional risk and propose mitigations.

Reporting Structure:

The CFO reports to the Chief Administrative Officer and acts in an advisory capacity to the CEO and other members of the Executive Leadership Team. This position has general authority to review, approve, or reject cost commitments and financial transactions that are not supported by the annual fiscal plan.
The leaders of the Accounting & Financial Reporting and Finance departments report to the CFO
Must complete annual self-assessment as required
Performs other duties and special projects, as assigned

Qualifications

Skills and Qualifications

Technical Skills:

Working knowledge of both GAAP, GASB, and financial modelling with a commitment to updating and enhancing professional and technical capabilities to always remain "current" in all regulatory and financial reporting requirements
Must possess a thorough knowledge of budgeting, analysis, financial modeling, cash and investment management, financial accounting, and financial systems/data, with demonstrated experience in planning, implementing, and testing new and upgraded solutions in a cloud-based, client-server, and PC-based environment
Knowledge of general ledger systems and modules, including accounts payable, accounts receivable, fixed assets, and other sub-ledger systems; financial reporting software; and financial workflows. Knowledge of loan management and banking payment systems is helpful and preferred.

Soft Skills:

Business partner who demonstrates ability to work in a collegial, collaborative, and forward-thinking organization
Ability to prioritize workload, must be highly organized, detail-oriented, handle various tasks simultaneously and work independently within limited time constraints with little or no supervision
Strong listening skills, empathy, patience and the ability to lead through influence and by example
Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with various business professionals and NJEDA staff
Must be able to maintain confidentiality and deal effectively and diplomatically with various business professionals and NJEDA staff
Demonstrate respectful behavior and promotes teamwork to encourage an interactive, cooperative, collaborative, and customer-focused work environment among divisions, NJEDA staff, and external customers
EDA Leadership Profile
- Talent Management: Acquires, develops, and manages high-performing teams.
- Cross-Functional Collaboration : Partners effectively across boundaries and functions.
- Vision-Driven Results : Drives a clear vision and strategic thinking for achieving results.
- Innovation and Change: Encourages new ideas, opportunities for change, and motivates team members.

Certifications:

Certified Public Accountant (CPA) is preferred

Experience:

10+ years of progressive finance experience in a governmental, financial services, nonprofit, or similar environment
5 years management/supervisory experience, including 3 years as a CFO
NJ State government experience preferred
Proficiency in managing government grants and appropriations
Strong early career finance training and foundational experience in a best-in-class finance organization (including public accounting firms and/or respected corporate finance training programs) preferred

Education:

BS in Accounting/Finance/Economics required; MBA is highly preferred

Software/Tools Proficiency:

Advanced Microsoft Excel proficiency
NJEDA utilizes Microsoft as its core application platform and proficiency in the Microsoft Office Suite is preferred.

Additional Information

Minimal physical demands and ability to work outside of normal business hours
Travel expected when necessary for business operations

Certificates And Licenses Required

Staff are required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essentials duties of the position.

Note

The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this job description. Conversely, all duties performed on the job may not be listed. This job description is intended to convey information essential to understanding the scope, general nature and level of work performed by job holders within this job. This job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.

Your employment at NJEDA is voluntary and subject to termination by you or NJEDA at will, with or without cause, or with or without notice, at any time. Nothing in this job description shall be interpreted to conflict, eliminate or modify the employment-at-will status of NJEDA employees.

This position is considered exempt and is excluded from minimum wage, overtime regulations, and other rights and protections afforded nonexempt workers under the FLSA.

NJEDA reserves the right to amend/revise this job description as necessary to meet current and changing business needs.

NJ SAME Program

In accordance with P.L. 2021, c. 465 and P.L. 2021, 466, the SAME program was established to enable New Jersey State agencies to hire, promote, retain, and advance qualified individuals whose physical or mental impairments impact their abilities to participate in the hiring and promotion process for non-competitive and unclassified titles within the State workforce.

The SAME program allows candidates, who identify as having a significant disability, to apply for non-competitive and unclassified positions through a fast track hiring process. This program uses a fast-track process that permits people who are eligible for the program to request that the State appointing authority schedule with them a good faith interview. For more information about the SAME program and the Fast Track Hiring program, please Click Here . If you have any questions, please email, or call the contact as indicated on the job vacancy announcement.

This posting open to eligible applicants regardless of SAME eligibility.

Equal Opportunity Employer

Position Requirements

Foreign degrees/transcripts must be evaluated by a reputable evaluation service at your own expense and must be submitted prior to a start date. If this cannot be provided within 21 days of an offer the offer will be rescinded.
Must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011, to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
Must review the required NJ State Ethics Guidelines found on the state website.
Selected candidates must be authorized to work in the United States per the Department of Homeland Security, United States Citizenship and Immigration Services regulations. Note: The State of New Jersey does not provide sponsorship for citizenship to the United States.

New Jersey Economic Development Authority (NJEDA) Jobs

Chief Financial Officer