MI Saves Chief Financial Officer and VP of Administration

Company: Public Sector Consultants Inc
Location: Lansing
Posted on: January 24, 2025

Job Description:

POSITION OVERVIEWThe chief financial officer and vice president of administration (CFO & VPA) at Michigan Saves oversees the organization's financial and business operations and ensures alignment with its mission and goals. As a member of the Michigan Saves executive team, the CFO & VPA provides strategic and tactical leadership in all areas of finance & accounting by conducting financial projections, budgeting, analyzing finance data, and providing systems and process management. Additionally, the CFO & VPA will oversee the organization's outsourced administrative operations by managing key human resources, IT, legal services, and compliance functions.MI Saves contracts with Public Sector Consultants (PSC) to provide staffing and management services. The CFO & VPA will be an employee of PSC.ESSENTIAL DUTIES

• Financial Strategy and Management:

• Serves on the Michigan Saves executive team, demonstrating a long-term commitment to the organization's ways of being and mission by engaging in decision-making that considers implications for all staff and the organization and communicating leadership decisions accurately and with an appropriate level of care and confidentiality.
• Defines and recommends to the chief executive officer and board, in consultation with the executive team, an acceptable level of financial risk for Michigan Saves' investment portfolio and risk management strategies, including internal reserves for loan defaults.
• Leads the finance and accounting functions by developing the annual budget, reviewing financial statements, analyzing financial information (e.g. revenue, expenditures, and cash management) to ensure all operations are within budget, producing custom financial reports and projections for the executive team and board, overseeing payroll, investments, and cash management, and advising on the organization's financial health.
• Develops and implements a comprehensive business strategy that supports the organization's mission and growth objectives.
• Provides critical financial information to the chief investment officer to support and inform lending and loan portfolio management decisions and risk management strategies such as internal reserves for projected loan defaults.
• Supports the investments team in the implementation and maintenance of loan policies and procedures related to loan disbursement, servicing, and collection activities, including any loan defaults and write-offs.
• Serves as liaison with the board and finance committee for purposes of monitoring investment performance and recommending actions pursuant to Michigan Saves investments strategy.
• Executes accurate and timely year-end financial close processes.
• Administers Michigan Saves' defined contribution retirement plan.
• Compliance and Risk Management:
  • Ensures compliance with federal, state, and local laws by monitoring and enforcing adherence to legal requirements, filing reports, and advising management on needed actions.
  • Manages the director of compliance to ensure that organizational policies, procedures, and processes are created, implemented, and continuously improved and are consistent with all relevant legal, regulatory, and organizational requirements and standards.
  • Develops and executes internal management controls and manages financial reporting accuracy, certifying the reliability and accuracy of all financial statements and reports while identifying risks and mitigation strategies.
  • Coordinates and oversees the year-end audit with external auditors, finance team members, and the organizational leadership team.
  • Defines, documents, and implements the firm's finance policies and procedures to enhance workflow and efficiency while maintaining a high level of accuracy, transparency, and accountability.
  • Administrative Management:
    • Oversees and manages relationships with vendors, providing critical business operations functions, including accounting, IT, audit, tax, and legal services.
    • Works with the contracted professional employer organization to manage the human resources functions of the organization.
    • Conducts regular evaluations and vendor performance reviews to ensure continued quality and compliance.
    • Manages the organization's insurance portfolio, including general liability, directors and officers, cyber, and other specialized policies, ensuring adequate coverage and cost efficiency.
    • Oversees and manages the procurement and contracts process, including sourcing, negotiating, and purchasing goods and services needed for the organization; ensures cost-effectiveness, quality, and timely delivery while adhering to budgetary constraints.LEADERSHIP EXPECTATIONS
      • This is a supervisory position, and supervisory experience is required.
      • This position supervises one staff member and manages one dotted-line reporting relationship: director of compliance.
      • Executive Administrative Manager (dotted line supervisory relationship to the CFO & VPA).QUALIFICATIONS
        • Bachelor's degree in business administration, finance, public policy, or a related field or equivalent experience; master's degree and professional certification (CPA or CFA) preferred.
        • Minimum of 10 years of experience in organizational management within a nonprofit, government, or finance sector.
        • Strong leadership skills with experience managing diverse teams and fostering an inclusive work environment.
        • Excellent communication and interpersonal skills, with the ability to engage and influence a wide range of stakeholders.
        • Passion for environmental sustainability and commitment to social equity.WORK ENVIRONMENTMichigan Saves employees work in a hybrid environment. Work is primarily performed indoors, with extended periods at a computer or on the telephone. The work involves multitasking, completing repetitive tasks, and having contact with the public and clients.COMPENSATION
          • Salary range of $156,400 to $201,600 commensurate with education and experience.
          • Competitive medical, dental, life, disability, and voluntary vision.
          • Company 401(k) contribution.
          • Paid time off granted upon state date.
          • Nine paid holidays per year.
          • Paid parking.
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Keywords: Public Sector Consultants Inc, Detroit , MI Saves Chief Financial Officer and VP of Administration, Accounting, Auditing , Lansing, Michigan