Chief Financial Officer

 Salary Range: $125,000 – $140,000                     Location: Combination of remote and office based 

Organizational Summary 

WomenVenture is a 501(c)(3) nonprofit organization with a mission to empower women to achieve their economic goals by building profitable and sustainable businesses that transform communities. We execute on this mission through a four-pillared programming approach that includes training, loans, coaching and a community of support. Our organizational values are inclusion, impact, and innovation, and we seek out candidates who exemplify these characteristics. 

Position Summary 

This position provides strategic and operational leadership for all financial aspects of the agency including short- and long-term planning, accounting (GAAP), internal and external financial reporting, leadership, management and accountability (LMA) of lending and finance staff and the Board’s Finance and Loan committees, loan portfolio administration, and support of complex grants. The CFO works closely, collaboratively and strategically with the COO, CEO, Leadership Team, and Board of Directors to align work with mission, vision, and financial goals.  

Core Duties and Responsibilities 

Financial Management & Oversight 

• Establish guidelines for annual budget and 3-year forecast preparation with the COO, CEO and Board Executive Committee 

• Work with COO, CEO and Leadership Team to prepare annual budget and 3-year cash flow projections 

• Present budget to Finance Committee and final draft to Board of Directors for approval 

• Build an automated agency forecast model including anticipated loan production and revenue, update on a quarterly basis as a part of financial reporting to the Finance Committee and Board of Directors 

Lending Leadership & Capital Deployment 

• Lead. manage, and maintain accountability (LMA) for lending staff and deployment of capital resources to clients  

• Manage loan portfolio compliance and risk  

• Oversee the internal loan committee and prior to external loan committee review credit presentations with focus on risk tier rating, payment viability and compliance with loan policies 

• Attend loan committee meetings and manage all requested follow ups 

• Manage and monitor loan fund sources and work with underwriters on appropriate funding 

• Manage and monitor loan goals to remain in compliance with funding sources 

• Achieve lending goals  

• Evaluate and measure outcomes of impact 

• Build and maintain relationships with bank partners 

• Develop, implement and follow capital policies and procedures 

Financial Accounting and Reporting  

Payroll  

• Partner with Human Resources to ensure employees are paid in a timely and accurate manner 

• Ensure that employees code their time to capture 100% of grant and contract related funding  

• Manage the submission of statutory and benefits remittances 

• Partner with HR to negotiate and manage the employee insurance and benefits plans 

General Ledger  

• Oversee and ensure accurate recording and documentation of all agency cash disbursements and cash receipts 

• Oversee and ensure accurate recording and documentation of all agency short- and long-term assets and liabilities 

• Monitor the quarterly reconciliation of all balance sheet accounts and monthly reconciliation of all loan related and cash and cash equivalent accounts 

• Review reconciliations of subsidiary ledgers used for loan program transactions, donations, classroom revenue, etc. to the agency’s cash accounts and general ledger monthly 

• Utilize and maintain an automated, industry accepted financial accounting systems for recording agency financial transactions 

Financial Reporting  

• Oversee the generation of timely internal financial statements, including analysis of significant variances from budget and previous year activity 

• Oversee timely production of departmental financial reports; working with departmental directors to understand significant variances from plan and assimilate into quarterly forecast 

• Serve as Agency lead in loan fund accounting and reporting, including credit quality, loan sales, portfolio trend analysis, liquidity ratios, loan fund policies and procedure manual, etc. 

• Closely monitor cash flow and line of credit, using automated forecasting tools and analysis 

• Prepare/oversee all supporting information for the annual audit, single audit, and federal form 990, and liaise with the board Finance Committee and external auditors as necessary 

Grant Management & Reporting  

• In partnership with the COO, CEO, Leadership Team, and relevant Program Directors prepare grant budgets for funding applications 

• Ensure timely and accurate expense tracking, invoicing, and collections 

• Support grant applications and amendments 

• Prepare grant related financial reports on a timely basis including SBA Federal Financial Reports 

• Serve as the agency expert on CDFI and OFN financial reporting; ensure complex reporting is completed on a timely basis. 

• Serve as the Agency expert on grant compliance and interpretation of OMB Circulars and all applicable regulations 

• Work with program and development teams to maintain all grant agreements and MOUs pertaining to grant awards 

Governance and Leadership  

Board Governance; Executive, Governance, Loan, Finance and Credit Committees of Board of Directors  

• Report to Board of Directors and Board committees as requested by the CEO, Treasurer and Board Chair 

• Serve as the liaison to Finance and Credit Committees of the Board of Directors: 

• Meet with Committee Chairs on a quarterly basis; set committee agendas and related materials 

• Prepare meeting materials for distribution 

• Review and annually update committee charters and work plans 

• Review and edit meeting minutes for Committee approval 

• Meet with each committee member on an annual basis  

• Assist with the recruitment of new Committee members in partnership with the Committee Chair and CEO 

• Review, update and ensure compliance with Agency financial policies and procedures manual   

Leadership Team and Staff Oversight  

• Leading, managing and accountability (LMA) of Finance, Accounting, and Lending staff to meet Agency short and long-term goals 

• Collaborate as thought partner and advisor to COO, CEO and Leadership team 

• Actively participate and help drive organizational adoption and progress of EOS 

• Embrace and model WomenVenture’s values 

Partnerships & Professional Development  

• Meet at least annually with key staff at DEED and the SBA district office for site review meetings, business partner resource gatherings, and training 

• Travel to and attend SBA Technical Assistance training and Certified Financial Development Institutions/ OFN annual conference 

• Pursue a minimum of two annual trainings that furthers professional growth and development within the position 

Qualifications 

• Minimum five years’ experience in Controller/CFO role or equivalent experience 

• Nonprofit finance and accounting background and/or CDFI financial management experience 

• Minimum five years’ experience in managing a team of direct reports 

• Demonstrated history of developing and implementing new processes, systems, and automation to increase efficiency 

• Highly organized, self-motivated, and able to manage complex projects, competing priorities and tight deadlines 

• Ability to speak, listen and write in a clear, concise, and caring manner 

• Excellent meeting facilitation skills, including the ability to effectively present information to a wide variety of audiences 

Preferred Skills 

• Proficiency in automated Accounting Software Systems including QuickBooks  

• Experience with business planning, lending and other financial software including Live Plan, Financial Cents, DownHome, and LenderFit 

• Advanced intermediate Microsoft Excel skills 

• Comfortable giving and receiving constructive feedback and acting as a mentor to staff 

• Committed to learning and familiarity with EOS, modern leadership techniques, anti-racist and cultural competence training and development 

Application Procedure 

Interested candidates should submit their application to this position using the application link provided.