Chief Financial Officer (CFO)

Company: Community Foundation for Southeast Michigan
Location: Detroit
Posted on: January 17, 2025

Job Description:

The CFO will provide strategic and direct operational leadership for finance, accounting, investments, and related functions at the Community Foundation for Southeast Michigan. This role contributes significantly to the Foundation's strategic direction through financial analysis, forecasting, reporting, compliance with external audit requirements, external audit management, internal controls, and investment management support. The CFO will ensure the financial health and sustainability of the organization, which ranks in the top 30 of community foundations in the U.S. by assets valued at approximately $1.3 billion as of December 31, 2023.Responsibilities include directing all accounting functions, overseeing financial services and audit requirements, ensuring proper use of internal controls, and investment management for the organization through our Board of Directors Investment committee, internal staff, external consultants and investment managers. With external consultant support, this role will co-develop and implement a strategy to fully leverage robotic process automation (RPA) and advanced uses of technology in support of operational excellence. The CFO will staff the Investment, Audit and other board committees, assist in meeting their charges, and oversee the implementation of approved actions. As internal improvements are solidified, this role will become increasingly more externally focused, representing the Foundation at the annual Investment Briefing, contributing to the field of finance/accounting expertise among our peers, and representing the Foundation at other events.Responsibilities:

• Financial Acumen: In a complex environment, direct all accounting functions and records in accordance with generally accepted accounting principles and auditing standards. Oversee the performance of all required financial services, required filings, and management reports.
• Budget Management: Oversee the foundation's core operating and special project budgets, coordinating input from other areas of the Foundation. Provide day-to-day control and measurement of activity against approved budgets.
• Vendor/Partner Management: Oversee and coordinate relationships with third-party suppliers/providers. With external consulting help as needed, lead vendor procurement and selection, contract negotiation, performance monitoring, relationship management, risk management, cost control and compliance.
• Investment Management: Manage the investment of all Foundation assets using outside investment managers at the direction of the Foundation's Investment Committee. Oversee the performance of investment services with investment agents, including the reporting of investment performance.
• Technological Proficiency: Develop and oversee the finance team's technology strategy, ensuring internal controls are in place and followed, including the development and continuous improvement of management reports and tools.
• Board of Directors Committee Support: Staff the Investment and Audit Committees, assisting them in meeting their charges, developing information to be considered by the committees, and overseeing the implementation of approved courses of action.
• Leadership and Collaboration: Undertake other responsibilities as assigned by the President & CEO, demonstrating strong leadership and the ability to collaborate effectively with diverse stakeholders.
• External Relationship Building & Fundraising: Support the president, general counsel, and other executive leaders with complex gifts and asset evaluations. Support the President & CEO and other C-suite leaders in the financial case-making narrative for fundraising.Required Leadership Competencies:
  • Leading through Change: Guides the organization through periods of transformation and transition with strategic vision and effective communication. Inspires others to embrace change, fosters collaboration, and builds resilience. Apply innovative solutions to navigate challenges and drive continuous improvement.
  • Developing Direct Reports: Focuses on nurturing the growth and development of team members, building their capacity. Encourages continuous learning, provides constructive feedback, and creates opportunities for skill enhancement. Build a supportive environment that fosters professional growth and prepares direct reports for future leadership roles.
  • Utilizing Advanced Technology: Leverages cutting-edge financial technologies to drive innovation and efficiency. Demonstrates expertise in emerging fintech trends, integrates advanced solutions into financial processes, and fosters a culture of technological advancement. Applies technical knowledge to solve complex financial problems and enhance organizational capabilities.
  • Building Fundraising Narratives: Predicts the financial analysis necessary to build compelling fundraising narratives that resonate with donors, potential donors and other partners. Suggests financial data and analysis to highlight the impact of initiatives, engages with the audience through clear and persuasive presentations, and inspires action. Supports the President and other C-suite leaders by building a strong case for financial support, weaving together facts, figures, and financial insights to support fundraising success.
  • Intellectual & Professional Curiosity: Embodies a deep commitment to continuous learning and innovation. Demonstrates a deep desire to explore new ideas, understand complex systems, and seek out the reasons behind decisions. Fosters a culture of inquiry, challenges assumptions, and stays current with industry trends to drive strategic initiatives and inspire professional growth.
  • Advancement & Dissemination of Knowledge: Pursues and strategically shares knowledge-of-the-field to drive excellence. Builds collaborative networks to exchange best practices, applies knowledge to solve complex problems, and commits to continuous professional development.Education & Experience:
    • Bachelor's degree in Accounting, Finance, Business Administration, or a related field is required. A Master's degree or CPA is preferred.
    • Minimum of 10 years of progressive financial management experience, preferably within a nonprofit, community foundation, government, or complex setting.
    • Strong knowledge of generally accepted accounting principles (GAAP) and auditing standards.
    • Demonstrated ability to procure, oversee implementation of, and manage external partner outcomes and relationships.
    • Verifiable experience in working with Board-level stakeholders to manage or oversee investment portfolios and external investment managers and agents.
    • Excellent leadership and managerial skills, with experience overseeing substantial financial operations and a sizable team.
    • Exceptional analytical skills, with the ability to provide strategic insights and financial forecasting.
    • Proficient in financial software and systems, with experience in overseeing the automation of financial processes.
    • Strong communication and interpersonal skills, with the ability to work collaboratively with diverse stakeholders.
    • Ability to manage multiple priorities and meet deadlines in a fast-paced environment.Benefits & Salary:Commensurate with experience.The Community Foundation for Southeast Michigan offers a robust benefits package including 20 days of vacation accrued monthly, 5 personal days, 13 holidays, 9 sick days accrued monthly, paid parental leave, and employer paid short/long-term disability.The Community Foundation also offers a pension retirement program after 1 year of service which contributes 10% of salary.Application Instructions:To apply, visit www.cfsem.org/careers and look for "Current Opportunities". Submit your application online through the portal.
      
      
      
      PIcf06dde809b5-37248-36504351

Keywords: Community Foundation for Southeast Michigan, Detroit , Chief Financial Officer (CFO), Accounting, Auditing , Detroit, Michigan