Chief Financial Officer CFOHybrid

POSITION OVERVIEW

The Washington Area Community Investment Fund (Wacif) seeks a dynamic and experienced full-time Chief Financial Officer (CFO) to join our team. As a vital member of the Executive Team, the CFO will play a crucial role in providing strategic leadership and day-to-day oversight of Wacif's consolidated accounting and financial operations. The primary objective of this role is to drive the achievement of Wacif's long-term financial goals and objectives while ensuring the financial health and sustainability of the organization.

REPORTS TO : Chief Executive Officer (CEO)

SUPERVISES : Director of Finance and Financial Planning & Reporting Manager

DUTIES & RESPONSIBILITIES

• People Management
• Set clear and achievable goals for Finance team and regularly monitor progress towards those goals;
• Provide ongoing support, guidance, and feedback to team members to facilitate their professional development and growth within the organization;
• Coach, cross-train, and mentor team members to become experts in their positions and valuable business partners to the organization;
• Foster a collaborative and inclusive team environment by encouraging cross-training and knowledge sharing among team members;
• Promote a culture of accountability, transparency, and improvement within the Finance department.
• Financial Strategy & Planning
• Lead the development, implementation, and attainment of strategic financial objectives for Wacif, aligning with the organization's mission and vision;
• Evaluate and contribute to the financial strategy of all Wacif entities (new & existing), ensuring alignment with overall organizational goals and objectives;
• Provide strategic guidance to the development of short-term and long-term financial plans and projections, leveraging insights to drive informed decision-making;
• Take ownership of long-range balance sheet strategy and capitalization planning, ensuring sustainable growth and financial stability;
• Oversee and approve the investment of excess liquidity, optimizing returns while managing risk in accordance with organizational policies and guidelines.
• Budgeting
• Provides strategic guidance and leadership throughout the annual budgeting process, collaborating with relevant stakeholders to develop comprehensive and realistic budgets;
• Present annual budget to Finance & Audit Committee and Board of Directors, articulating key assumptions, priorities, and financial implications for review and approval;
• Monitors financial performance against budget, organizationally and at the project and / or department level, identifying variances and implementing corrective actions as necessary to ensure fiscal responsibility;
• Manage the General & Administrative (G&A) : Finance & Operations budget, optimizing resource allocation to support organizational priorities while maintaining financial sustainability.
• Capitalization
• Build and cultivate a robust pipeline of lenders to support capitalization plan and strategic initiatives;
• Lead discussion and negotiations to secure debt capital funding, ensuring terms and conditions align with Wacif's financial objectives and risk tolerance;
• Lead debt capital due diligence efforts, working closely with internal stakeholders and external partners to assess risk and evaluate opportunities;
• Collaborate with General Counsel to negotiate terms, covenants, and structure of debt investments;
• Facilitate the closing of financial transactions with investment counterparties, ensuring all necessary documentation and agreements are executed accurately and in compliance with regulatory requirements;
• Financial Reporting
• Provide comprehensive oversight, strategic advice, and tactical support to financial reporting function, ensuring accuracy, compliance, and timeliness in all reporting activities;
• Identify and establish key financial performance indicators (KPIs) regularly monitoring and reporting progress against targets and provide insightful analysis on significant trends and variances;
• Monitor and ensure restricted funding is applied according to donor specified requirements;
• Present financial results, analyses, and other relevant items to the CEO and Finance & Audit Committee, offering clear and concise explanations to facilitate informed decision-making.
• Financial Operations
• Facilitate the opening and closing of new bank accounts;
• Managing American Express (AMEX) corporate card account, including account ownership and adding / removing employee cards;
• Oversee chart of accounts, department / project / budget codes structuring and overall financial data schema;
• Authorize and release outgoing ACH / WIRE payments from Wacif bank accounts;
• Approve financial management related policies;
• Review and approve Finance, Operations, and Human Capital department expenses, ensuring alignment with approved budgets and adherence to Wacif policies;
• Lead implementation of key accounting software solutions;
• Risk & Compliance
• Identify and implement strategies to mitigate risks facing all Wacif entities;
• Update Finance & Audit Committee and Board on key risks and compliance issues facing all Wacif entities;
• Ensure compliance with all lender covenants and grant requirements;
• Identify and implement mechanisms to manage risk of loss associated with the loan portfolio;
• Review and approve Lending Department Credit Memos;
• Approve Loan Write-offs;
• Audit & Tax
• Foster and maintain a positive and collaborative relationship with external audit firm, facilitating effective communication and cooperation throughout the audit process;
• Provide support to the Director of Finance in addressing audit and tax-related issues;
• Review and approve Annual Audited Financial Statement and Single Audit Reports across Wacif entities;
• Review and approve IRS Form 990, verifying the completeness and accuracy of the information reported to regulatory authorities;

QUALIFICATIONS

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