Under the direction of the Chief Executive Officer (CEO) and consistent with the Christian mission of the YMCA, the CFO is responsible for leading and directing association financial strategy and for managing the Finance / Accounting function. While maintaining sound balance sheet discipline, s/he will work with the CEO, COO, other staff leaders and key volunteers on the development of new branches and expansion or repositioning of existing branches. The CFO will initiate discussions of strategic financial and operational issues; in addition, s/he will provide direction and leadership of key initiatives. When appropriate, the CFO will function as a spokesperson for the YMCA with various Branch Boards and the Metro Board of Directors.
Areas of Responsibility:
- Leadership and management of the financial reporting and accounting functions for a $92 million organization with 20+ locations including two resident camps and over 4,000 employees: Supervise VP-Accounting &Finance and accounting staff; monitor / manage monthly closing process, internal controls, cash management, short-term investments and short-term borrowings.
- Oversight of the Association’s balance sheet, capital structure, long-term borrowings and short-term borrowings, including bond issuance ($47 million as of 3/31/2018), lines of credit, bridge financings and investments; provide leadership of the Association’s ongoing multi million dollar capital spending plans (could range from $5 million to $20+ million in a given year).
- Financial planning and forecasting: Provide monthly/quarterly reports on the Association’s cash flow. Work with Financial Development staff to provide long-term financial projections, which integrate the expected results from fund raising initiatives. Work with VP-Facilities to project capital expenditures. Support COO and volunteer leadership of the YMCA’s Capital Planning Committee.
- Management Reporting: Work with COO and operations staff to report on monthly performance of the Association, including analysis of major variances from budget and prior year. Update year-end Association and Branch forecast on a monthly basis. Provide summary-level information to volunteer-treasurer for periodic reports to the Board.
- Budgeting: Supervise and lead an effective budgeting process for the Association. Carefully monitor cost allocations, shared services charges and similar issues to ensure inter-entity activity is properly analyzed and reported. Continuously improve the processes and tools used for these activities, with a focus on adding value.
- Supervision andpreparation of year-end audited financial statements and quarterly compiled financial statements; management of the audit process.
- Coordination of year-end tax return (990) preparation; management of IRS compliance issues.
- Endowment investment management (> $14 million invested as of 12/31/2017), coordination with financial development staff and branch staff.
- Insurance and risk management: arrange and negotiate liability and property insurance coverage. Coordinate coverage discussions with Director of Risk Management (who reports through the Y-Experience function in operations). Lead the Association’s Enterprise Risk program in coordination with all senior and volunteer leadership.
- Communications: Work with the YMCA’s Treasurer, Finance Committee Chair, Audit Committee Chair, Investment Committee Chair and other volunteers on their periodic reports to the YMCA’s Board of Directors. When appropriate, provide leadership for presentations to Branch Boards related to Association-wide initiatives.
- Association Strategy: Drive the Association in its strategic consideration of finance issues, branch development, significant transactions / negotiations and related areas. Actively participate in the evaluation of strategic issues not discussed above
Educational Background:
Four-year degree in accounting or finance, preferably an MBA or advanced degree. CPA designation is preferred but not required.
Skills/Experience:
- Twelve to fifteen years of progressive financial management experience, including three to five years experience as a CFO or Divisional CFO for a sizable public or private company.
- Deep knowledge of accounting fundamentals, financial processes and internal controls.
- Knowledge of capital structure and financing issues, experience with significant ($10M+) long-term borrowing and/or restructuring of such loans.
- Demonstrated ability to successfully negotiate with lenders, landlords, insurance carriers, and similar vendors whose work has organization-wide financial and operational impact.
- Familiarity with insurance programs and policies, as well as risk management strategies / programs.
- Ability to relate to employees in a positive manner, emphasizing cooperation and teamwork.
- Strong verbal and written communication skills.
- Experience with multi-location entities, their management and operation.
Job Function:
Organization Info
Listing Stats
Post Date:
Mar 22 2018
Active Until:
Apr 22 2018
Hiring Organization:
YMCA of the USA
industry:
Nonprofit