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Chief Financial Officer

2 months ago

Saint Paul, Minnesota, United States Nexus Community Partners Full time
Job Overview

Organization Background
Nexus Community Partners is a dynamic intermediary focused on community development, dedicated to empowering communities of color through strategic initiatives that enhance social and human capital. Our mission is to combat the isolation experienced by marginalized communities due to systemic racism by fostering an engagement model centered on equity, nurturing leadership, democratizing wealth, and valuing culture as a vital asset.

Role Summary
We are in search of an innovative and strategic leader to oversee the financial and accounting operations of our expanding organization, which manages a $6 million operating budget alongside over $5 million in annual grants to community initiatives. This role reports directly to the President & CEO and collaborates closely with organizational leadership to establish strategic financial management, accounting practices, and budgeting processes. The VP of Finance & CFO will initially be supported by a skilled outsourced accounting team and will have the opportunity to evaluate and optimize the accounting structure, working with Nexus leadership to recruit or contract the necessary team members. This position will exemplify and advocate for equity and accountability within financial operations while ensuring the organization’s fiscal health, adaptability, and sustainability. The VP of Finance & CFO will cultivate strong relationships with staff and may serve as a liaison for external stakeholders.

Work Environment
This position requires a hybrid work model, with 50% of scheduled hours to be completed in the office.

Key Responsibilities

  • Organizational Leadership and Financial Strategy (20%, ongoing)
    • Contribute as a member of the leadership team, offering insights and taking initiative on organizational challenges.
    • Collaborate with the President/CEO and senior leadership to safeguard the organization’s financial stability, sharing strategies that align with our mission.
    • Work with leadership and the board to formulate and implement financial policies that reflect our values and strategic objectives.
    • Act as a financial advisor to organizational leaders, assisting in analysis and monitoring to identify trends and enhance financial and program effectiveness.
    • Establish and maintain robust relationships with staff, board members, and external stakeholders, including funders and collaborators.
    • Oversee the investment portfolio, maintaining communication with investment advisors and regularly reporting to committees and the board.
  • Budgeting and Forecasting (20%, seasonal)
    • Lead the annual budgeting process, collaborating with senior leadership and program managers to set realistic financial goals.
    • Facilitate opportunities for staff to learn budgeting best practices and contribute to the budgeting process.
    • Monitor actual performance against budget and provide updates and analysis to the President/CEO and board.
    • Develop and maintain financial forecasts that support long-term planning and informed decision-making.
  • Accounting Management and Team Supervision (20%, ongoing)
    • Recruit, train, and oversee accounting personnel.
    • Direct the month-end closing process.
    • Coordinate monthly cost allocation processes for accurate program cost accounting.
    • Manage key financial relationships, including banking and auditing.
    • Establish and uphold a strong set of internal controls and effective accounting practices.
  • Financial Reporting and Analysis (20%, ongoing)
    • Present the organization’s financial performance to the treasurer and board through regular reports and updates.
    • Communicate financial information to staff, leadership, and stakeholders.
    • Provide cash flow, revenue, and expense analysis as needed to address program and organizational performance inquiries.
  • Grant Reporting and Monitoring (10%, ongoing)
    • Collaborate with the director of philanthropic partnerships to oversee the receipt and accounting of contributions and earned revenue.
    • Ensure compliance with grant and contract requirements, maintaining accurate records.
  • Audit, Tax Filing, and Compliance (10%, concentrated seasonally)
    • Manage relationships with external auditors and financial service providers to ensure compliance with reporting requirements.
    • Direct the preparation for and response to annual audits conducted by independent CPA firms.
    • Ensure timely completion and submission of all tax filings and required reports to maintain compliance with laws and regulations.

Qualifications
The following qualifications are essential for success in this role:

  • 7+ years of progressively responsible experience in managing accounting functions and supervising finance teams.
  • 5+ years of technical proficiency in nonprofit and business accounting.
  • Demonstrated financial leadership and successful budget development experience.
  • Ability to convey complex accounting principles clearly to diverse audiences.
  • Experience in coordinating audit activities and managing financial reporting and analysis.
  • Proficiency with advanced accounting software and integrated financial applications.
  • Collaborative mindset with a capacity to work cross-culturally.
  • Strong communication skills with staff, leadership, and community members.
  • Commitment to promoting racial, social, and economic equity.
  • Self-motivated and hands-on approach to work.
  • Ability to manage multiple projects and deadlines while maintaining high-quality standards.