Chief Financial Officer

  • COTS
  • 2211 East Jefferson Avenue, Detroit, MI, USA
  • Jul 30, 2020
Full time Nonprofit-Social Services

Job Description

The Opportunity

The 2020 fiscal year is designated for COTS's most ambitious publicity and fundraising capital campaigns ever. The organization seeks a strategic Chief Financial Officer ("CFO") with a track record of organizing a growing organization to meet future current and future developments. The CFO is responsible for aligning financial reserves with the setting the mission and vision of the organization and for identifying concrete ways to engage in increasing financial reserves and cost-savings, such that COTS develops into a stable, sustainable organization with longevity.

Reporting Relationships:

The CFO reports to the CEO and, periodically, to the Board of Directors. The CFO will direct his/her own internal staff including the Accounting Director, Analysts, and will also direct those responsible for producing annual Tax and other compliance documents and reports. The CFO is also responsible for directing the technology function of the organization with internal staff and outsourced contractors as well as providing oversight and approval for the facilities department and projects.

Core Responsibilities

The CFO will:

  • Serve as internal consultant to the CEO, COO, CDO, CHRO, Board, and other key stakeholders on all financial matters, making recommendations and suggesting pro-active strategies to keep COTS on track;
  • Provide oversight for and manage all budgets, forecasts and internal financial plans and processes;
  • Support accounting, general ledger and operations functions, ensuring that systems are in place to guarantee timeliness and accuracy;
  • Drive best financial practices within COTS by publicizing standard operating procedures, keeping the senior leadership team, Board and staff up-to-date on COTS's financial status and by generally serving as a point of reference for all growth plans and projects within COTS;
  • Explore and suggest how COTS can invest its reserves and resources to generate passive income;
  • Review short and long-term goals in light of existing and projected financial resources available;
  • Create data-based long and short term goals, budgets and forecasts;
  • Participate in all internal planning regarding COTS's proposed program expansion, to ensure alignment of program, outreach and training plans with financial projections;
  • Establish annual priorities and benchmarks and conduct regular reporting, measuring projections against actual performance;
  • Generate weekly, monthly, quarterly and annual reports as needed to monitor, evaluate and optimize cash-flow and liquidity;
  • Build relationships with banks, donors, vendors, outside consultants and others as needed to keep close to COTS's major expenditures and sources of revenue;
  • Utilize technology to optimize all reporting and analytical functions;
  • Ensure that COTS meets critical regulatory and legal compliance benchmarks;
  • Keep up with new trends in the financial industry by attending conferences, participating in professional development and sharing this information with the senior leadership team; and
  • Build a top-tier internal finance team by actively recruiting, training and developing talented accountants, analysts, consultants, auditors, tax planners, as needed.

Key Credentials and Personal Qualities

  • Bachelor's Degree in Accounting, Finance, Management
  • MBA
  • CPA required
  • At least 8 years' senior financial leadership experience
  • At least 5 years’ nonprofit senior financial leadership experience
  • More than 15 years' experience total accounting/finance experience
  • Experience at integrating IT/Systems to improve accounting productivity and accuracy
  • Experience at working with external auditors, compliance and regulatory oversight
  • Commitment to results; 'can-do" mindset; outstanding problem-solving ability
  • Experience at change leadership and change management
  • Strong motivational and staff leadership abilities
  • Excellent analytical, communication and presentation skills
  • Sense of humor, integrity, personal sense of accountability
  • Knowledge of Office Suite and Excel and familiarity with software like Financial Edge, Quickbooks or other accounting IT solutions