Apr 16, 2024

Vice President of Finance and Operations

$200,000 - $250,000 yearly
  • RCG Talent Solutions
  • Remote
Full-Time Administration/Operations Finance/Accounting

Job Description

About Common Group:

Common Group is on a mission to grow the impact of social investments in education, workforce, and talent. Launched in September 2020 with a vision of creating equity and opportunity through a thriving economy, we are on our way to growing the impact of $1 billion of impact capital by 2028.

Our team of 30 values-driven professionals brings divergent experience to the funds and programs we run in partnership with large foundations, state agencies, and nonprofits. Although we’re just getting started, we’ve already proven the power of the common: listening to the common voice, uniting around a common cause, and creating solutions on common ground. 

Role Overview:

The Vice President of Finance and Operations at Common Group will be at the forefront of building, managing, and continually improving the financial infrastructure essential for our organization's success. You will act as a bridge between public and philanthropic funding for education and workforce initiatives, enabling us to drive innovation and social impact. As part of a growing startup with a $5M+ operating budget and $100+ million of impact funds under management, you'll have the opportunity to turn a shared vision into reality, working with a diverse team committed to creating positive change in the world.

This role requires a strategic leader who can navigate the complexities of financial and fiscal management and analysis, operational optimization, and stakeholder engagement. You should be adept at driving upward growth while running an efficient finance function and clearly articulating the organization's context and goals across audiences, including staff, clients, and funders.

In the short term (3-6 months), you’ll lead a thorough audit of our financial systems to gain a clear understanding of our capabilities and limitations. This audit will inform the development of a detailed roadmap that includes recommendations and implementation plans that take into account financial and legal implications and ensure swift action. You’ll be tasked with creating our non-profit fund management approach and navigating the legal and commercial framework, particularly around grants and contracts. You’ll also have the opportunity to evaluate immediate and short-term team capacity needs to support routine business-as-usual work and the capabilities build-out. Looking further ahead (1-2 years), the VP will build out a market-leading set of fund management capabilities, including Program-Related Investments (PRIs), while ensuring an effective communication and change management approach with clients and funders. 

As the organization's first senior finance hire, the ideal candidate is excited to build a function from the ground up and embrace a learning curve. You’re motivated to play a pivotal, hands-on role in everything finance-related, from our overall strategy to team structure to policies and procedures. 

The VP will sit on the executive leadership team and report to the Chief Executive Officer. 

Key Responsibilities:

Key responsibilities of the role include but are not limited to:

Non-Profit Fund Management

  • Develop and manage nonprofit fund management capabilities, ​​including agreements for sponsored projects.

  • Ensure compliance with all regulatory and reporting obligations, including IRS regulations and state-specific requirements.

  • Oversee, with the executive team, the application and selection process for potential sponsored projects, evaluating alignment with the organization's mission and financial viability.

  • Establish and implement procedures for allocating and disbursing funds to sponsored projects, ensuring proper documentation and compliance with donor restrictions and grant agreements.

  • Coordinate with sponsored projects to establish budgets, monitor spending, and provide financial guidance and support as needed.

  • Set up monitoring and evaluation processes to assess the financial performance and impact of sponsored projects, track key performance indicators (KPIs), and provide feedback to project leaders and stakeholders.

  • Conduct periodic reviews and audits of sponsored project finances to identify areas for improvement and ensure accountability and transparency in fund management.

Internal Financial Operations

  • Lead the development of comprehensive annual budgets, oversee the budgeting process, and ensure alignment with strategic objectives while also providing accurate and timely financial reporting to senior management and stakeholders.

  • Oversee cash management processes and ensure optimal utilization of financial resources.

  • Ensure compliance with federal and state regulations, particularly concerning fund management and financial reporting, in partnership with the executive leadership team.

  • Evaluate and oversee all financial systems and technologies (e.g., Quickbooks, Ramp, etc.)

  • Develop and implement tax planning strategies to optimize the company's tax position while ensuring compliance with all relevant tax laws and regulations.

  • Manage annual audits to maintain financial integrity and transparency.

  • Oversee human resource operations with significant impact on organizational finances, including but not limited to payroll and benefits, in partnership with the Team and Organizational Development Lead.

Financial Planning and Analysis

  • Lead all in-year FP&A processes, including setting up next-level monthly/quarterly close processes.  Identify trends/areas for improvement and support informed decision-making.

  • Provide actionable insights and recommendations to the organization based on comprehensive scenario planning. 

  • Develop and maintain financial models to evaluate strategic initiatives, investment opportunities, and potential risks.

  • Collaborate with the Program team and other key stakeholders to support project performance evaluation, gross margin analysis, and forecasting at the team and individual project levels.

Team Management and Organizational Leadership

  • Evaluate the immediate and long-term capacity needs of the finance team to determine required in-house and outsourced supports. 

  • Build, lead, and coach a high-performing finance and operations team, establishing clear roles, responsibilities, and Standard Operating Procedures.

  • Foster a culture of collaboration, innovation, and continuous improvement within the team and across the organization.

  • Effectively manage and partner with external audit, bookkeeping, and technology vendors.

  • Establish strong relationships and be a trusted partner across the organization’s various stakeholder groups, including staff, clients, and funders.

  • Lead financial change management, inclusive of providing financial literacy and conveying information at the right altitude for different audiences.

Hiring Organization

Common Group

Qualifications

Qualifications and Skills:

  • Alignment with Common Group’s mission and values.

  • 12+ years of experience in finance or related function(s) with at least 5 years in team leadership roles.

    • Ability to independently analyze complex financial data to identify trends and patterns and make informed decisions based on findings.

    • Expertise in financial management (ideally across multiple legal entities), fiscal sponsorship, grants management, and federal compliance (2CFR200).

    • Experience successfully implementing new financial systems, policies, and procedures, especially in a start-up environment.

    • Proficiency in financial management software/platforms (e.g., Quickbooks), MS Excel, and G Suite.

    • Experience implementing and managing grants management software/platforms is ideal.

    • Experience working at an organization(s) operating as a fiscal agent/fund manager/fiscal sponsor is preferred.

  • CPA (Certified Public Accountant), Chartered Financial Analyst (CFA), ChFC (Chartered Financial Consultant), Certified Management Consultant (CMA), or an equivalent financial-focused certification is strongly preferred.

  • Demonstrated experience in managing and leading teams, strategic planning, and execution.

  • Some experience with human resource operations is ideal.

  • Strong interpersonal skills, entrepreneurial mindset, and ability to engage effectively with diverse stakeholders.

  • Understanding of and demonstrated experience implementing change management principles across stakeholder groups.

Industry/Service Area

Education

Level

Executive

Benefits

Our Commitment to the Vice President of Finance and Operations

  • Competitive annual starting salary range of $200,000-$250,000 commensurate with experience, alongside the potential for semiannual employee bonuses.

  • U.S.-based remote role, core collaborative team hours, and a flexible work schedule.

  • Travel: Full team retreats convene 2x/ year and the Executive Team convenes 4x/ year. 

Benefits: Full-time roles are offered with health, vision, and dental insurance. After one year, employees qualify for Common Group’s parental leave policy. Common Group also offers the opportunity to contribute to a 401K plan. We offer a flexible vacation policy and 19 company holiday days each year.

Application Instructions

To Apply

Common Group is partnering with RCG Talent Solutions to find the next Vice President of Finance and Operations. Please use this link (https://bit.ly/3Udf1kk) to submit your application and direct all questions to openroles@rcgtalent.com

Common Group is an equal-opportunity employer and encourages candidates from diverse backgrounds to apply. We strive to ensure that each candidate pool is representative of a diverse range of backgrounds, including racial, ethnic, religious, sexual orientation, and gender.


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