Feb 09, 2024

Chief Financial Officer

  • On-Ramps
  • Boston, MA, USA
Full-Time Finance/Accounting

Job Description

ABOUT THE ORGANIZATION

The Nellie Mae Education Foundation, New England's largest philanthropic organization focused solely on education, has worked for over 30 years to help our region prosper by preparing all its learners for success. We are proud of the milestones we have set, and the students and educators we have reached, since our founding in 1990. The Foundation has a rich history of partnering with diverse community actors, including grassroots and grasstop organizations, to improve student experience and academic attainment. We continue to champion efforts that prioritize community goals informed by research on practice and policy that challenge racial inequities in education and advance culturally responsive, student-centered public education for all New England youth. Nellie Mae Education Foundation works to ensure that all youth have access to excellent and equitable public education that prepares them to succeed and thrive in community. Headquartered in Quincy, MA, our team is comprised of professionals who share a commitment to putting youth and communities at the forefront of efforts to support and advance schools and school systems that promote racial equity and excellence.

Over the past few years, we have intentionally shifted our focus to work aimed at creating the conditions necessary to achieve educational justice and racial equity in alignment with our mission, vision, and values—ensuring a quality public education for each and every child regardless of race, class, indigeneity, or any other social or cultural construct. The Foundation's multi-pronged strategy includes grantmaking that builds the capacity and sustainability of organizations and schools that work to promote racial equity in public education, together with grants that support broader network and advocacy efforts. Through racial equity lenses, we actively monitor how we amplify and understand voice; collect and analyze data; interrogate and make visible root causes of disparities we seek to eliminate; identify and advance solutions; achieve outcomes; and calibrate our privilege in the pursuit of educational justice.

To learn more about the Nellie Mae Education Foundation visit their website at: https://nmefoundation.org/.

ABOUT THE POSITION

About the Position: Reporting to the President and CEO, the Chief Financial Officer/Treasurer (CFO) is a senior-level position and core member of the Executive Leadership Team. Working closely with other members of the Executive Leadership Team, the CFO is responsible for leading and managing the finance and administrative structures to meet the evolving needs of a dynamic, results-driven philanthropy. The CFO will serve as a thought-partner, strategist, and technician working with and through the staff teams as well as the Board Investment and Audit Committees. This includes managing activities associated with security and investment of the Foundation's assets; ensuring financial practices, policies, and procedures meet the Foundation's short and long-term objectives; and implementing regulatory and operational best practices that advance racial equity principles in grantmaking and administration.

This is a unique opportunity to join an organization that is actively reviewing its strategic focus to deepen impact and seeking to refine its operations to more powerfully address inequities in education, so that all students benefit from an excellent educational experience.

Key responsibilities of the CFO include, but are not limited to:

Organizational Leadership

  • Lead the design and assessment of financial strategy and performance as it relates to managing against the annual budget and long-term goals, while fostering organizational effectiveness and sustainability
  • Serve on the organization's Executive Leadership Team, helping to develop and execute multi-year business plans and strategies that advance org-wide priorities and intended impact
  • Oversee the timely and accurate development of budgets, financial reports, and models that will assist the President & CEO, Board of Directors, and senior managers to make informed program strategy, resource allocation, and investment decisions
  • Manage day-to-day finance and accounting operations including general ledger, accounts payable and receivable, fixed assets, prepaids, credit card expense reporting, payroll processing, monthly reconciliation, and monthly and year-end close
  • Provide financial analysis and decision-making support to the President & CEO, the Executive Leadership Team and Department Leads, and the Board of Directors
  • Provide inspirational leadership and direction to all staff, ensuring the continued development and management of a professional and efficient organization

Financial Strategy and Administration

  • Lead organization-wide fiscal management, working with the President & CEO to maintain an environment of collective financial responsibility and accountability
  • Review and manage (and establish as needed) internal systems, controls, processes, and procedures to ensure the integrity, accuracy, compliance, and usefulness of timely financial information and reporting
  • Prepare and analyze monthly, quarterly, and year-end financial statements and provides them to President & CEO and Board of Directors in a timely manner to support decision-making across the organization
  • Oversee the production and presentation of periodic or ad hoc financial reports for the President & CEO, Executive Leadership Team and Department Leads, and Board of Directors to track and forecast expenditures
  • Prepare and present financial reports to the President and CEO and Board of Directors, with closest engagement with the executive, audit, and investment committees of the board
  • Coordinate successful completion of annual audits, IRS filings, and other mandated reporting for our entities; oversee annual external audit and ensures compliance with all local, state, and federal government regulations and applicable laws governing our tax structure
  • In partnership with grantmaking teams, develop program budgets for proposals and business plans, forecasting spending and providing decision support to program management, and ensuring compliance with grants management and contracting requirements
  • Manage activities associated with security and investment of the Foundation's assets ensuring that financial transactions, policies, and procedures meet the Foundation's short and long-term objectives, and regulatory body requirements
  • Execute Investment and Executive Committee decisions and oversee day-to-day of the investment portfolio, including capital calls, cash and stock distributions, account openings/closures, and subscription and redemption documents in collaboration with the Investment Counsel
  • Build and maintain relationships with external organizations including the bank, the custodian of the Foundations investment portfolio, investment counsel, auditors, tax professionals and others as needed

Team Management and Cultivation

  • In close collaboration with the President and CEO, develop salary and benefits packages as well as administrative practices that attract top talent; foster a healthy organizational culture; reflect our commitment to justice, racial equity, diversity, and inclusion; and enable individuals and teams to achieve transformative outcomes
  • Lead, mentor, and manage high-performing finance and administrative teams, fostering a collaborative and inclusive work environment that promotes leadership for education justice and racial equity
  • Lead the finance and administrative teams in providing strategic direction, back-office support, and engaging outside counsel on legal, risk management, facilities, and human resources issues to ensure efficient and consistent operations

Hiring Organization

Nellie Mae Education Foundation

Qualifications

CANDIDATE REQUIREMENTS:

Related work experience:

  • Bachelor's degree in finance, accounting or a related field, CPA or CMA required
  • Minimum of 15+ years of significant accounting and finance experience, with at least 5 years in a senior financial leadership role
  • Strong background in investment management, demonstrating a proven track record of optimizing portfolios in alignment with organizational goals, preference for experience social impact and catalytic investing
  • Strong experience managing accounting and financial reporting under GAAP, with a strong preference for prior tax-exempt experience
  • Experience taking final responsibility for the quality and content of all financial data, reporting, and audit coordination for an organization or significant program area
  • Formal experience working at an investment firm or other client services organization with exceptional reasoning, problem solving and strategic thinking skills, and previous success leading catalytic investments that mature 1, 3, 5,10-years out
  • Demonstrated experience procuring and managing diverse professional service consultants
  • Knowledge of laws and regulations relating to US tax exempt organizations, preferably including public and private foundations

Knowledge, Skills, and Abilities:

  • Passion for social impact and commitment to leading with and advancing principles of justice, racial equity, diversity, and inclusion
  • Demonstrated commitment to Nellie Mae Education Foundation's values and mission, and to serving partners and grantees
  • A successful track record setting organizational priorities; keen analytic, organizational, and problem-solving skills which support and enable sound decision-making
  • Analytical thinker with the ability to align financial strategies with the organization's mission, vision, and values
  • Ability to translate financial concepts simply and effectively in order to collaborate with programmatic and operational colleagues who may not have finance backgrounds
  • Exceptional people management skills, with experience leading and developing high-performing teams
  • Adaptive relationship building skills with an ability to prioritize, negotiate and work with a variety of internal and external stakeholders
  • Excellent judgment and creative problem-solving skills including negotiation and conflict resolution skills
  • Exceptional written, oral, interpersonal, and presentation skills and the ability to effectively build relationships and collaborate effectively with diverse stakeholders
  • Deep knowledge of MS Office and other administrative & financial management software programs, including Solomon Dynamics FRx, Gifts for Windows, Sage Intacct, Salesforce, and ADP

Industry/Service Area

Foundation/Grantmaking

Level

Executive

Benefits

COMPENSATION AND BENEFITS:

The annual salary for this role will be based on a range, starting at $215k-250K, commensurate with the candidate's skills and experience. Nellie Mae Education Foundation provides health care, dental, and vision benefits, a 401(k) Retirement Plan with an employer match program, as well as a flexible paid time off policy.

Application Instructions

Qualified Individuals, please apply: https://www.on-ramps.com/open-positions/3063

The Nellie Mae Education Foundation is an equal opportunity employer. All qualified applicants will be considered for employment without regard to race, color, creed, national origin, sex, age, disability, marital status, sexual orientation, military status, or current employment status, in alignment with federal, state, or local law.

Both Nellie Mae Education Foundation and On-Ramps are deeply committed to equity. We believe social change happens when people with a wide range of backgrounds, experiences, and identities come together with a common purpose. We encourage candidates from all backgrounds to apply.

Nellie Mae Education Foundation and On-Ramps are committed to the inclusion of all qualified individuals in the hiring process, including but not limited to those with disabilities. If you require reasonable accommodation(s) to participate in the application or interview process, please contact info@on-ramps.com.


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