Job Title: Chief Financial Officer

Organization: Medical Preparatory Academy of Rhode Island (MedPrep)

Location: Pawtucket, Rhode Island

Overview

Medical Preparatory Academy of Rhode Island (MedPrep) is a pioneering charter school dedicated to reducing disparities for marginalized youth in medicine and post-graduate medical professions. Our mission is to prepare students to excel in top universities in medicine, medical research, and post graduate medical professions. As we embark on our planning year, we seek a dynamic and visionary Chief Financial Officer (CFO) to establish the financial foundation and lead the development of our business office. The CFO will play a crucial role in ensuring MedPrep's fiscal health, operational efficiency, and adherence to regulatory standards.

Responsibilities

Financial Strategy and Planning:
1. Develop and implement MedPrep's financial strategy in alignment with the school's mission and long-term goals.
2. Create financial forecasts, budgets, and financial models to support strategic decision-making by the Executive Director and Board of Trustees.
3. Provide financial insights and recommendations to optimize resource allocation and enhance financial sustainability.
Accounting and Financial Operations:
1. Establish and oversee robust accounting policies, procedures, and systems to ensure accurate financial reporting and compliance with GAAP and charter school regulations.
2. Manage day-to-day financial operations including accounts payable, accounts receivable, payroll, and procurement.
3. Implement internal controls to safeguard assets and mitigate financial risks.
4. Evaluate and optimize technology across the organization to enhance and streamline organization-wide workflow and identify solutions to automate and/or solve network-wide and departmental challenges.
5. Institute and document best-in-class processes in budgeting, financial planning and analysis, cost management, program improvement, metrics and/or policy changes.
Budget Management and Analysis:
1. Develop annual operating budgets in collaboration with department heads and stakeholders.
2. Monitor budget performance, analyze variances, and prepare comprehensive financial reports for management and the Board.
3. Recommend adjustments and strategies to achieve financial objectives and optimize operational efficiency.
Financial Reporting and Compliance:
1. Prepare timely and accurate financial statements, reports, and filings for internal and external stakeholders.
2. Ensure compliance with federal, state, and local financial regulations, including charter school funding requirements and reporting obligations.
3. Coordinate audits and reviews, and implement audit recommendations to maintain financial integrity.
Business Office Development:
1. Build and lead the business office team, fostering a culture of accountability, professionalism, and continuous improvement.
2. Maintain a successful track record of leading and developing high-performing teams committed to the mission and goals of the organization, with the ability to foster trust and collaboration among team members and manage through change with flexibility and poise.
3. Develop administrative policies and procedures to streamline operations and enhance efficiency.
4. Implement technology solutions to support financial management, reporting, and operational needs.
Risk Management and Strategic Planning:
1. Assess financial risks and develop strategies to mitigate them effectively.
2. Provide strategic guidance on financial investments, fundraising initiatives, and capital planning.
3. Collaborate with the Executive Director and Board to identify funding opportunities and develop sustainable financial strategies.
Community Engagement and Fundraising:
1. Cultivate relationships with donors, foundations, and funding agencies to secure financial support for MedPrep's mission and programs.
2. Represent MedPrep in financial and community forums, advocating for resources and partnerships to benefit students and programs.
Legal and Contractual Oversight:
1. Review and negotiate contracts, agreements, and vendor relationships to ensure compliance with school policies and regulatory requirements.
2. Advise on legal matters related to finance, ensuring alignment with best practices and ethical standards.

Qualifications

Bachelor's degree in Accounting, Finance, Business Administration, or a related field (Master's degree preferred). CPA designation highly preferred; experience in nonprofit or educational finance desirable. Minimum 5 years of progressive financial management experience, with at least 2 years in a leadership role.

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