Chief Financial Officer - PATH Foundation #2021-2647

Location US-VA-Warrenton
Job ID
2021-2647

Overview

Chief Financial Officer

As Chief Financial Officer (CFO) for the PATH Foundation, you will report to the President & CEO and be an integral member of the leadership team. You will continue our history of full transparency and clean audits as you oversee every aspect of accounting, budgeting, and financial reporting for our $250 million private foundation. You will be joining us at an exciting time in our growth as we increase our level of impact investing and you will also help us consider environmental, social, and governance criteria (ESG) and socially responsible investing factors (SRI) in our investment process.

 

Our staff is nimble – thoughtfully considering and rapidly implementing groundbreaking ideas – and we are supported by a board of directors equally focused on making a significant impact in our community. We continue to honor the PATH Foundation’s legacy of careful stewardship while constantly exploring creative grants and programs that strengthen the health and vitality of Fauquier, Rappahannock, and Culpeper counties. At the PATH Foundation, we have the ability to develop and implement regionally and nationally scalable solutions that traditional lenders and government payers may not be able to tackle.

 

Your external involvement will help you better evaluate what will best serve the needs of the community. In this role, you will quickly become integral to the success of the community, serving on local boards and attending local events. You will provide financial and technical assistance to our partner organizations, finding creative ways to leverage our resources to help advance their mission.

 

As CFO, you will work closely with senior staff and board committees to forecast the impact of new initiatives while mitigating risk. You will also work closely with budget managers (program officers) across the organization to develop and manage a rapidly growing portfolio of work.  You will initially lead a team of two with outside accounting support, but we anticipate that you will need to grow the team, adding additional capabilities as we add new partnerships and legal entities, expand the complexity and diversity of our funding mechanisms, and continue to expand our impact in the community. As a senior leader, you will foster a respectful, collaborative, transparent environment where professionals can grow in their careers – while ensuring that all financial reporting is useful, timely, and consistent.

 

Organization Overview

The PATH Foundation strengthens the health and vitality of our community, taking action to improve health and wellness on a broad scale in Fauquier, Rappahannock, and Culpeper Counties. We stimulate community benefit, inspire citizen engagement, and support area resources. Our goal is to enhance the region as a place where everyone has the opportunity to have a healthy place to live, work, play, and grow. We value:

  • Health – Healthy people and places to live, work, and play
  • Community – Growing, economically vital communities
  • Partnership – Strong nonprofit organizational collaboration
  • Impact – Accountability for clear goals and measurable outcomes
  • Stewardship – Prudent fiscal management
  • Leadership – Setting the pace with innovation and integrity

 

Responsibilities

Strategy

  • Partner with the CEO on operational and strategic issues, providing recommendations based on financial analysis and projections, cost identification and allocations, and revenue/expense analysis.
  • Balance short-term concerns and pressures such as managing cash and liquidity with long-term vision and sustainable organizational focus.
  • Develop the financial management strategy and contribute to the development of strategic goals. Participate in the ongoing strategic planning process as an integral member of the staff leadership team.
  • Oversee the annual budgeting process in alignment with our strategic plan. Review all financial plans and budgets, monitor progress and changes, and keep the board of directors abreast of the organization’s financial status.
  • Oversee the continual improvement of accounting and the administrative operational system, processes, and policies in support of the organization’s mission.
  • Provide financial vision and leadership for all departments.
  • Lead key initiatives that improve operational excellence.

Operations

  • Oversee the controller function to ensure procedures are followed, proper records are maintained, and adequate internal controls and financial procedures are in place. (We currently work with an external vendor to provide this service.)
  • Review and approve the employee insurance and benefits plans, business insurance, banking relationships, and manage other financial partnerships, including with financial institutions, investment managers, tax professionals, and auditors.
  • Review and approve appropriate internal controls and financial procedures, leases, contracts, and other financial commitments.
  • Improve the overall operation and effectiveness of the organization through a thoughtful consideration of policies, procedures, training, and reporting that promotes good stewardship, transparency, and accountability.

Risk management

  • Responsible for the financial aspects of risk assessment, ensuring legal and regulatory compliance regarding all financial functions.
  • Negotiate financial services as required and appropriate, advising the organization’s leadership and board of directors on appropriate actions.

Financial management and reporting

  • Oversee the development and maintenance of timely and accurate financial statements and reports in accordance with GAAP for several legal entities.
  • Review and approve products and processes surrounding the consolidated year-end audit; liaise with external auditors and the Audit and Compliance Committee.
  • Work with the Director of Communications to prepare the report to the community.
  • Attend and provide an executive summary and financial information to the Investment Committee and the Audit and Compliance Committee.

Tax reporting

  • Review and approve the 990s for the organization; liaise with the tax preparer.
  • Work with marketing to ensure that the 990 narrative aligns with the marketing message.
  • Review and approve all tax forms for timely filing (W-2s, 940, 941, 1099, 5500).

Investments

  • Oversee financial management, reporting, and planning of our portfolio of Impact Investment projects.
  • Liaison with investment advisors and oversee the investment process. In consultation with tax professionals, determine the tax implications of investments and develop the appropriate disclosures. Prepare investment subscription documentation.
  • Link investment strategy with the programming mission to include educating the board and the Investment Committee.

Cash management

  • Oversee financing strategies and activities, developing forward-looking, predictive models and activity-based financial analyses to provide insight into ours operations and business plans.
  • Oversee cash flow planning and ensure availability of funds as needed. Oversee cash, investment, and asset management. Manage organizational cash flow and forecasting.
  • Review and approve budgets for all legal entities and programs.

 

Qualifications

  • Bachelor’s degree (in finance, accounting, or a related business field) is required; an advanced degree is desirable and CPA certification may also be helpful.
  • 8+ years of financial leadership experience, including supervisory experience, is required.
  • Strong knowledge and understanding of nonprofits, philanthropy, and investment management are highly desirable. Experience working in a private foundation and healthcare-related or place-based grant-making organization is also desirable.
  • Advanced working knowledge of Generally Accepted Accounting Principles (GAAP). Experience with impact investing is desirable.
  • Advanced working knowledge of finance systems. Strong MS Office skills.
  • Ability to understand, synthesize, and communicate financial information.


Attributes

  • Careful steward. You understand the big picture and carefully balance the needs of the community with the obligation to manage risk for the organization. You are transparent and earn trust by reliably sharing information and reporting in a timely manner.
  • Clear communicator. You communicate clearly and succinctly, simplifying complex data into easily understandable language that everyone can relate to.
  • Comfortable with change. You understand that what we need today may be different than what we need tomorrow. You are flexible to change in a rapid growth environment and are open to learning.
  • Inclusive. You are an excellent mentor who is willing to listen and learn from others. You work as an integral part of a team that works and wins together. You have a collaborative and inclusive work style; you are comfortable sharing both information and credit.
  • Mentor. You have proven experience coaching, mentoring, and developing staff at all professional levels, identifying and promoting talent to build high-functioning teams. You exhibit a positive attitude and professional demeanor that inspires and motivates.
  • Problem-solver. You actively present new opportunities, propose solutions, and recommend best practices. You anticipate challenges and effectively resolve potential issues. You work with a sense of urgency and take initiative without being asked. You are supportive of both internal stakeholders and external organizations and relentless in untangling complexity.
  • Process-oriented. You enjoy creating and implementing processes and procedures that uphold rigorous standards.
  • Service-oriented. You are passionate about supporting the community and willing to do more than your share of the work to support your internal and external colleagues in achieving their goals.
  • Trusting and trustworthy. You have a proven track record of getting results by building strong relationships and partnerships. Internal and external stakeholders respect you for your knowledge and abilities and find you both approachable and responsive. You give respect, and you earn yours.

 

What’s Attractive to the Right Candidate?

  • We are financially strong, with a history of clean audits, and we benefit from the support of a strong, cohesive, forward-thinking board. We are at an incredible inflection point with $250 million in assets serving a population of 120,000 people. We are well-positioned to make investments other organizations cannot.
  • At the PATH Foundation, we are doing the things other groups talk about wanting to do; with an appetite for change, we work with a sense of fearlessness and are willing to take advantage of our resources to best serve our community – and we have earned a reputation for enacting real change. This is a high-impact, highly visible role, integral to the community.
  • You will be joining an effective, committed, high-performing group of colleagues, who are well-regarded in the community for their careful stewardship of a multigenerational gift.
  • You can build the team you need and achieve work/life balance while learning new skills and delivering results for the community. The issues we solve are challenging. You will perform detailed financial analyses and forecasts for complex business issues across multiple business entities. The work is interesting and every day brings a new opportunity to explore.
  • You will be working from a beautiful office in Warrenton, Virginia with a strong benefits package that focuses on promoting your well-being in all aspects of life, including the opportunity for up to two days of remote work per week.

 

To Apply

Use the "Apply" button or simply email your resume to Bob Corlett at resumes@staffingadvisors.com with “PATH - CFO #2021-2647 SA” as the subject of the email. Please include your resume as a Word or PDF attachment to the email and paste your cover letter in the body of your email.

 

Please note: our practice is to not disclose the salary ranges our clients would consider. Any salary information included in this posting was estimated without our input.

 

Staffing Advisors is committed to reducing bias in every aspect of the hiring process. We have long recommended an evidence-based approach to hiring. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, veteran status, or any other basis protected by law. This position may require pre-employment screening including a criminal background check, drug test, verification of academic credentials, licenses, certifications, and/or verification of work history. You can learn more about our actions on our blog.

 

 

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