Financial Operations Manager

2 weeks ago

Washington, United States City First Full time

Job Type

Full-time

ABOUT CITY FIRST ENTERPRISES

City First Enterprises (CFE) is a financial institution dedicated to merging financial innovation with impactful investment strategies aimed at fostering a more equitable economy. CFE operates a loan fund that facilitates accessible debt capital for entrepreneurs and change-makers focused on affordable housing, small businesses, education, nonprofits, community facilities, green energy, and commercial real estate. As a recent recipient of the Green Gas Reduction Fund (GGRF) sub-award, CFE is poised to enhance its role in the green banking sector in the coming years. Additionally, Homes by CFE, an initiative under CFE, provides down payment assistance to eligible Black and Latino families seeking homeownership.

CFE and Homes by CFE are recognized as Community Development Financial Institutions (CDFIs), a designation from the United States Treasury that acknowledges organizations expanding economic opportunities in low-income communities through accessible financial products and services.

THE POSITION

CFE is in search of a seasoned accounting manager proficient in overseeing internal accounting functions and operations, including payroll management. This role involves managing the monthly, quarterly, and annual accounting close processes and reporting for CFE and its subsidiary, along with coordinating efforts for the annual audit. The ideal candidate will evaluate accounting processes and systems, implementing efficient optimizations to foster positive organizational change. This individual will spearhead initiatives related to cost accounting and financial segregation. Reporting directly to the Finance & Accounting Director, the candidate will establish robust internal controls concerning cash disbursements and discretionary spending, as well as develop accounting policies and procedures to ensure compliance with GAAP and Uniform Guidance requirements.

CFE fosters an entrepreneurial environment that encourages personal growth and innovation. This position offers an opportunity to contribute to a dynamic, rapidly growing non-profit sector where fresh ideas and innovative thinking are highly valued.

CORE RESPONSIBILITIES

Accounting Process & Reporting Management:

  • Oversee the monthly, quarterly, and annual accounting close processes to ensure timely and accurate financial statements.
  • Enhance the organization’s Accounts Payable and Accounts Receivable processes, leveraging technology for optimization.
  • Supervise subordinate staff in their daily accounting responsibilities and provide weekly updates to the Finance & Accounting Director.
  • Assist the Director of Finance & Administration in establishing effective accounting policies and procedures that address internal controls and fraud prevention.
  • Manage cost segmentation within Sage Intacct across various business segments and funding sources, refining the reporting structure.
  • Investigate and resolve accounting issues to maintain GAAP compliance.
  • Develop effective reporting mechanisms to communicate financial health to the Finance & Accounting Director.
Audit Coordination & Compliance Management:
  • Lead the coordination of necessary documentation and financial information for external auditors, including preliminary and final fieldwork checklists.
  • Respond to auditor inquiries and conduct initial reviews of final audit deliverables.
  • Collaborate with the Senior Manager of Impact and Development and other team leaders to track grant restrictions and expenditures.
  • Complete any required Close-Out Reporting as per grant agreements.
  • Manage the preparation of quarterly financial reports and metrics for lenders.
  • Ensure compliance with reporting requirements for the Federal Reserve concerning bank holding companies.
  • Assist in the RFP process for selecting a new accounting firm if required by CFE's Finance & Audit Committee.
Payroll Processing & Cash Flow Management:
  • Oversee payroll processing and payroll tax compliance on a bi-weekly basis, including annual W-2s.
  • Coordinate with the Operations Manager to ensure timely updates to payroll salaries and deductions in accordance with accrual accounting.
  • Facilitate the establishment of an API between the payroll and accounting systems.
  • Implement improvement projects related to payroll processing as needed.
  • Maintain monthly cash flow forecasting models.
  • Contribute to the development of annual financial or cash flow projections.
Budget Management & Analysis:
  • Assist in the preparation of the Annual Budget each year.
  • Collaborate with the Finance & Accounting Director to drive the Annual Budget cycle, ensuring timely dissemination of information.
  • Support the creation of individual department budgets and monitor adherence.
  • Work with the Operations Team and Accountant to streamline vendor management and bill payments.
  • Implement and utilize expense management technology to enhance visibility into spending.
  • Document and communicate expense management procedures effectively.
QUALIFICATIONS, EXPERIENCE, AND EDUCATION
  • 5 - 8 years of experience in an accounting or finance role with a clear progression to a senior position.
  • Bachelor's degree in Accounting or Finance from an accredited institution, or equivalent experience.
  • Strong understanding of financial statements and budgeting.
  • Advanced skills in Microsoft Office Suite and Adobe Acrobat.
  • Detail-oriented with exceptional organizational abilities.
  • Excellent verbal and written communication skills, with a willingness to present information.
  • Strong analytical and problem-solving capabilities, with a capacity to adapt to changing demands.
  • A commitment to continuous improvement of systems and processes.
Preferred Qualifications:
  • CPA certification is highly desirable.
  • Experience with accounting systems such as Sage Intacct or Quickbooks.
  • Familiarity with grant, project cost, or fund accounting.
  • Experience with audit processes or Single Audits.
  • Knowledge of non-profit compliance and federal grant reporting requirements.
  • Understanding of auditing and internal controls.
COMPENSATION

The position offers a competitive salary range of $110,000-$135,000, complemented by a comprehensive benefits package including employer-sponsored health and dental insurance, life insurance, a health savings account with employer contributions, a retirement plan with matching, paid parental leave, and a generous paid-time-off program.

WORKING AT CFE

CFE is ideal for intellectually ambitious individuals who are committed to high performance and accountability. We provide a unique, start-up-like work environment that is open, innovative, and collaborative. Our missions focus on equitable access to capital, guided by our values of Diversity, Equity, Integrity, and Opportunity. We are dedicated to serving our communities through financial tools, creativity, and technology.

WE ARE AN EQUAL OPPORTUNITY EMPLOYER.

CFE is committed to providing equal employment opportunities to all individuals, regardless of ethnicity, age, religion, disability, marital status, nationality, family status, sex, or veteran status.

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