Chief Financial Officer (CFO)
Department: Finance
Reports to: Chief Executive Officer (CEO)
SUMMARY OF ORGANIZATION:
Aurora is the second largest city in Illinois with a robust and dynamic economy. The Boards of three civic groups, Invest Aurora (Invest), the Aurora Regional Chamber of Commerce (Chamber), and Aurora Downtown (AD), have voted to consolidate in Q1 2025. Invest is leading the transition.
OVERVIEW OF POSITION:
We are seeking a seasoned professional who will be responsible for the financial systems that empower us. We are searching for an experienced Chief Financial Officer (CFO) to join our team of high-performing professionals and keep our finances positioned for success. The CFO will have a day-to-day, ongoing impact on the organization’s operations. This seasoned strategist not only will understand current accounting practices and trends, but also will have experience with not-for-profit and grant financing. As a member of the senior management, the CFO will be comfortable in a leadership role that requires clear and effective communication skills.
ESSENTIAL DUTIES AND RESPONSIBILITIES: Other duties may be assigned.
- Preparing, administering, and overseeing the annual budget and ongoing revenue and expenditure monitoring and forecasting.
- Preparing monthly financial statements, including Balance Sheet and Statement of Cash Flows.
- Preparing monthly bank reconciliations and general ledger reviews/reconciliations.
- Preparing and executing bank deposits.
- Preparing vendor checks and/or ACH payments as needed, usually weekly – providing support to reviewers/check signers and sending payment to vendors.
- Presenting to the Board of Directors the statement of financial position, including Balance Sheet and Statement of Cash Flows.
- Being staff liaison for Investment, Finance, and Audit Committees; preparing reports and information for each committee (Investment meets as needed, Finance meets quarterly, and Audit meets as needed).
- Taking responsibility for filing of annual Form 990; working with auditors/tax preparers on annual audit reports and all filings.
- Providing quarterly reports and answering questions to all staff/management as requested regarding financial reporting and documentation.
- Assisting with grant applications, specifically budget development.
- Handling biweekly (every other week) payroll preparation.
- Handling/processing all onboarding paperwork (i.e., I-9, tax forms, insurance forms – handling eligibility and deadlines).
- Working with insurance representatives to ensure that proper and sufficient coverage is maintained in all areas (along with CEO).
- Establishing written financial controls for nonprofit.
EDUCATION REQUIREMENTS:
Degree in Business Administration, Accounting, or related area; CPA preferred.
QUALIFICATION REQUIREMENTS:
- Prior CFO experience and experience working with nonprofit corporations are a plus.
- Experience working with QuickBooks online software is helpful.
- An understanding of fund accounting – restricted funds, temporarily restricted funds, unrestricted funds, and grant-accounting is desired.
- Must be able to follow Generally Accepted Accounting Principles to develop a budget.
- Must have demonstrated experience interacting with multiple internal/external stakeholder groups with the ability to communicate complex ideas to audiences with varying levels of financial background or expertise.
- Must have 8-10 years general business finance/accounting experience with five years proven successful management experience.
- Must demonstrate proficiency with financial accounting software packages and personal computer Microsoft Office products (i.e., Excel, Word, PowerPoint).
WORK ENVIRONMENT:
This position is full-time with office hours from 9 a.m.-5 p.m. Monday-Thursday, and 9 a.m.-4 p.m. on Friday. There are occasional early morning meetings as well as weekend and evening events to attend. The work environment is representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
SALARY: Salary Commensurate with Experience.
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