This position supports the work of the Y, a leading non-profit, charitable organization committed to strengthening community through youth development, healthy living and social responsibility. The CFO is a member of the senior leadership team and provides direction and leadership for YMCA business operations, financial objectives, and strategic initiatives and assists with development of policies and ensures their implementation.
The CFO oversees and manages all finance, accounting, business matter and practices, investments, and information systems for the Association, including analysis and reporting, planning and budgeting, forecasting, legal compliance, information technology services, capital management, revenue cycle management, treasury functions, audit, and employee relations. This leader oversees the YMCA’s accounting practices, maintenance of fiscal records, preparation of financial records and ensures a system of strong internal controls and maintains fiscal soundness, as well as provides oversight for the Foundation and investment advisors.
Located on 32 acres in beautiful Westport, our newly renovated Camp Mahackeno and Outdoor Center, and the recently built 72,000 square foot Bedford Family Center includes state-of-the-art Wellness Center, group fitness, dance, and cycling studios, childcare, 11,000 square foot gymnastics center, indoor and outdoor pools with splash pads, archery, climbing wall, playgrounds, sports field, a pond with paddle boats and canoes, amphitheater, hiking trails, indoor and outdoor basketball courts, pavilions and more. 40 Full-time, 160 part-time, and 150 seasonal employees. Growing, organization with operating budget of $8.5M and total consolidated assets of $100M+.
Essential Functions
- Monitors monthly financial operations, cash management, prepares analysis and reports, and gives guidance to executive and operating staff. Works closely with operations staff on issues that affect financial outcome. Prepares specific recommendations.
- Manages the staff and oversees the operations of the accounting/finance, information systems and other assigned departments, with a special focus on implementing best business practices using technology.
- Oversees the development of the annual operating and capital budgets, including capital replacement planning, cash flow, schedule. Works closely with management staff to ensure that association budgets are properly planned, realistic, prepared and reported to management/Board in a timely manner.
- Oversees reconciliations of bank and other general ledge accounts, control accounts, subsidiary ledgers. Implements necessary cash flow controls and manages cash flow of the YMCA.
- Oversees and certifies the annual audit and meets periodically with the outside auditors to maintain communications and keep them informed of changes in the YMCA. Ensures that current accounting standards and legal requirements are met.
- Review and improve all management information technology functions and systems including software and hardware solutions.
- Provides staff leadership to assigned committees of the Board of Directors. Works directly with assigned committee(s) of the board (Finance, Audit, Facilities, for example) to build volunteer relationships, develop policies, monitor their implementation and meet the related needs of the board.
- Provides leadership on IT, Property Management related projects.
- Reviews, updates, and/or develops internal control systems for the YMCA and oversees internal audits which check for compliance on a variety of policies and standards. Provides recommendations for improvement.
- Manages investments, under the direction of the Foundation Investment Committee, and within the risk tolerance expressed by the Board via the asset allocation policy.
- Develops performance indicators and measurement systems for tracking strategic plan objectives. Evaluates current business models and leads efforts to modify or redesign business models where necessary.
- Oversees preparation of reports to YMCA of the USA and governmental agencies. Oversees preparation of tax returns.
- Manages tax-exempt bond transactions and files all necessary reports. Establishes, maintains and/or monitors all banking and financing relationships.
- Maintains all necessary records and accounting reports and records all transactions on a timely basis.
- Negotiates and monitors solid business contracts/agreements and maintains good working relationships with auditors, bankers, investment counselors, attorneys, other professional advisors, and vendors.
- Represents the YMCA with key community organizations and events as required.
- Serves as a member of Y management and supports overall objectives of the YMCA.
- A bachelor’s degree in business, finance or accounting required; CPA, CMA or advanced degree in accounting preferred.
- Ten or more years of experience in accounting, financial management and budgeting, fiscal controls, capital projects, and reporting with at least 5 of those years in a management role.
- CHEFA (CT Health & Educational Facilities Authority) experience a plus.
- Knowledge of computer systems, including experience with system selection, new system implementation and project management. Personal computer skills required.
- Strong written, verbal, and interpersonal communication skills.
- Demonstrated ability to achieve budget and operating goals.
- Experience with investment management and asset allocation preferred.
- Experience to work effectively with volunteer boards.
- Five years of experience managing a staff team. Must work effectively with YMCA staff.Previous experience with voluntary/nonprofit organizations preferred.