Chief Fiscal Officer

Job Description Title:

Chief Fiscal Officer Business Unit/Delegate:

ARVAC, Inc Department:

ARVAC, Inc.

Reports To:

Chief Executive Officer FLSA Status:

Exempt Full-Time Equivalent:

Full-Time Date Approved/Revised:

03/31/2023

Mission Statement:

ARVAC, Inc. promotes self-sufficiency and provides pathways out of poverty for individuals, families, and communities.

Job Summary:

The Chief Fiscal Officer (CFO) provides strategic financial leadership, operational oversight, and programmatic support to the agency. The CFO supervises the finance and payroll departments, reports directly to the Chief Executive Officer, and serves as a key member of the executive leadership team. This position is responsible for overseeing all financial operations of the organization, including budgeting, forecasting, financial reporting, grant compliance, cash management, audits, internal controls, and long-term financial planning. The CFO partners with executive leadership to support strategic decision-making, organizational sustainability, and financial stewardship while ensuring compliance with all applicable nonprofit, federal, and state regulations.

• The following job functions are not all-inclusive.

Job duties may change as required by the needs of the agency. You will assume the responsibility of assuring that you are working to understand your role in accomplishing the strategic goals and performance measures of the Agency.

Essential Duties & Responsibilities:

The Chief Fiscal Officer is responsible for all accounting, payroll, purchasing, and property management, and directing fiscal functions of the agency. The CFO must comply with all accounting principles issued by the Financial Accounting Standards Board, The U.S. Securities and Exchange Commission, and other regulatory and advisory organizations and in accordance with financial management techniques and practices appropriate for non-profit reporting.

Primary Responsibilities:

Job Specifications:

• Plan, develop, organize, implement, direct, and evaluate the agency's fiscal status and performance.
• Assist in performing all tasks necessary to achieve the agency's mission and help execute staff succession and growth plans.
• Train the Finance Department and other staff in the knowledge of financial management practices. Assists in the development and implementation of maintaining an Administrative Fiscal Procedures Manual for accounting, payroll, purchasing, property control, procurement, fee schedule, etc.
• Work closely with the CEO/Chief Executive Officer on developing and implementing strategic vision including fostering and cultivating stakeholder relationships at local, state, and national levels, as well as assisting in developing and negotiating contracts.
• Assist the CEO/Chief Executive Officer and Chief Operations Officer(s) (COO) in identifying new funding opportunities, drafting prospective agency-wide and programmatic budgets, and determining the cost-effectiveness of prospective service delivery.
• Oversee the use and training of MIP Fund Accounting software
• Assess the benefits of all prospective contracts and advise the Chief Executive Officer or Leadership Team on programmatic design and implementation matters.
• Maintain all records relating to the financial transactions of the agency.
• Advise and keep informed the CEO/ Chief Executive Officer of the current financial condition of the agency, including expenditures and balances by the project, funding source, and other designated categories.

Provide the necessary leadership to plan and coordinate the work of assigned staff engaged in a wide variety of duties and responsibilities related to specific program areas and general agency financial functions. Plans the work to be accomplished, prepares schedules for completion of work, and ensures that financial responsibilities are effectively and efficiently carried out. Provide total administration of the financial departments. Provides advice, counsel, and instructions to subordinate staff and keeps them aware of administrative development in the agency. The CFO may interview and recommend candidates for positions in the financial department and make recommendations regarding promotion or reassignments. Responsible for the accomplishment of all objectives of the financial department, contract projects, or other objectives outlined by the CEO/Chief Executive Officer.

• Ensure adequate controls are installed and that sustaining documentation is approved and available such that all purchasing may pass independent, state, and federal governmental audits, as well as internal and funding source monitoring.
• Provide the COO(s) and Chief of Staff (COS) with coordination with the Budget Department with an operating budget.
• Work with the COO(s) to ensure programmatic success through cost analysis support, and compliance with all contractual and programmatic requirements.

This includes 1) interpreting legislative and programmatic rules and regulations to ensure compliance with federal, state, local, and contractual guidelines; 2) ensuring that all government regulations and requirements are disseminated to appropriate personnel and 3) monitoring compliance within the fiscal operations.

• Oversee the management and coordination of all fiscal reporting activities for the organization including Organizational revenue/expense and balance sheet reports, trial balance reports, reports to funding agencies
• Lead in collaboration with the Budget Department to develop and monitor organizational and contract/grant budgets, and report to the CEO/Chief Executive Officer, Finance Committees, and ARVAC Board of Directors.
• Oversee all purchasing and payroll activity for staff and participants. Ensures that required tax reports are maintained.
• Works collaboratively with the budget department to meet agency-wide budgeting and financial goals.
• Develop and maintain a system of internal controls to safeguard the financial assets of the agency and oversee state and federal awards and programs.
• Oversee the coordination and activities of independent auditors ensuring all A-128 and Circular A-133 audits are conducted with generally accepted auditing standards and the standards applicable set forth in the Compliance Supplement for Single Audit of Grants to State and Local Governments issued by the Office of Management and Budget, and Standards for Audit of Governmental Organizations, Program Activities, and functions as issued by the Comptroller General of the United States.

• Ensure any issues related to audits are resolved, all 403 (b) compliance issues are met, and the preparation of the annual financial statements is in accordance with GAAP and federal, state, and other required supplementary schedules and information.
• Attend Board and subcommittee meetings; including being the lead staff on the Audit/Finance Committee.
• Monitor the banking activities of the agency.
• Ensure adequate cash flow to meet the agency's needs.
• Serve as an executor and assist in overseeing the financial administration of reporting of the agency's savings and retirement plan.
• Oversee the production of monthly reports, including reconciliations with funders, contract or grant reimbursements, bank reconciliations, and cash flow reports for use by the Executive or Leadership Team as well as the Finance Committee and Board of Directors.
• Assist in the implementation and timely calculations of wage incentives, commissions, and salaries of staff as directed by the CEO/Chief Executive Officer.
• Oversee Accounts Payable and Accounts Receivables and ensure a disaster recovery plan is in place. Verifies and pays all vendor invoices and employee travel reimbursement according to policy and procedure. Assists in the development of a Risk Management Plan.
• Oversee the maintenance of the inventory of all fixed assets, including assets purchased with governmental funds (computers, etc.

) assuring all are in accordance with local, state, federal, contract, and grant requirements. Maintains an inventory controls log that is updated yearly.

Financial Planning & Forecasting:

Develop and maintain short-term and long-term financial forecasts for the organization. Conduct financial modeling and scenario planning related to grant funding, operational changes, and organizational growth. Analyze financial trends, funding projections, and program expenditures to support strategic decision-making. Prepare financial forecasting reports and projections for the CEO, Finance Committee, and Board of Directors. To perform this job successfully, an individual must be able to carry out each essential duty in a satisfactory manner. The job specifications listed below are representative of the education and experience as well as the knowledge, skill, and/or ability (KSAs) required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Requirements:

• Bachelor's degree required in the accounting/financial field at an accredited college or university
• Master's degree preferred in accounting/financial field at an accredited college or university
• Five to seven years of financial experience and management experience with the day-to-day financial operations of an organization of at least 30-50 staff. An equivalent combination of education and experience is determined to be acceptable.
• CPA or CMA preferred
• Must have a valid driver's license and reliable transportation.
• Must be able to provide letters of recommendation, and at least five professional references, and submit them to a background and financial background inspection.

Knowledge, Skills, & Abilities:

Knowledge of financial forecasting, budgeting, cash flow management, and strategic financial planning. Ability to interpret complex financial data and provide strategic recommendations. Strong leadership and team management skills. Excellent verbal and written communication skills. Ability to build collaborative relationships with leadership, staff, auditors, funders, and board members. High level of integrity, confidentiality, and professionalism. Proficiency in financial management software and reporting systems. Strong knowledge of nonprofit accounting principles, federal grant compliance regulations. KPI Section Forecast accuracy and financial sustainability planning Successful audit outcomes and regulatory compliance Budget management and variance control Timely grant reimbursement and reporting Cash flow stability and reserve management Operational efficiency improvements Effectiveness of internal controls and risk management Accuracy and timeliness of financial reporting

Physical Requirements:

• Ability to sit most of the time with some bending and reaching.
• Ability to stand, walk, and bend periodically.
• Ability to engage in the repetitive movement of wrists, hands, and fingers - typing and/or writing.
• Ability to work frequently at close visual range (i.e. preparing and analyzing data and figures, accounting, transcription, computer terminal, extensive reading).
• Ability to receive and respond to oral communication.
• Ability to exert up to 10 pounds of force to lift, carry, push, pull, or otherwise move objects.

Work Environment:

• Work is generally performed in an office environment.
• Noise level in the work environment is moderate to occasionally loud (examples: business office with computers and printers, light to moderate traffic, human voices).
• Standard office equipment generally used includes: o Telephone o Personal Computer (monitor, keyboard, and mouse) or Tablet o Printer/Photocopy Machine o Calculator o Fax Machine
• May be required to operate a motor vehicle during duties.

Pay:

$75,000.00 - $85,000.00 per year

Work Location:

In person