Purpose of Position:
Reporting to the Chief Executive Officer, the Chief Finance Officer focuses on ensuring the Museum maintains efficient and effective financial systems and processes, high service levels and accountability across its core business functions, while continuously seeking to improve resource utilization. The incumbent has senior managerial responsibility for financial management, information technology, facilities management and legal affairs. This individual is a key member of the Senior Management team, providing support, and ensuring effective operation of the Museum’s activities to achieve overall goals.
Direct reports include: Controller, Director of Information Technology, Director of Business Analysis, and Director of Facilities
The CFO works closely with the President, and other senior managers to assess all programs, projects, budgets, and business decisions as they relate to the Strategic Plan and institutional priorities.
Essential Functions:
- Develop and oversee the annual budget in excess of $20MM.
- Negotiate, maintain, and ensure compliance with contracts and agreements regarding outsourced food and retail services and work to maximize performance.
- Review, analyze, and report on monthly results; update strategic financial plans and forecasts; provide monthly financial reporting to internal and external stakeholders; oversee grant administration; and manage key contracts.
- Conduct program reviews and analyses and assist key senior staff in managing the Museum’s portfolio of programs to best balance between net earnings and mission effectiveness.
- Monitor the performance and application of endowment funds, currently valued in excess of $60MM.
- Oversee the Information Technology function and participate in all software and hardware upgrades and conversions.
- In concert with Director of Facilities, develop annual capital budget and identify and track maintenance needs.
- Work with Property & Casualty brokers on identifying and mitigating operational risks that could impact the museum's efficiency or safety. Monitor and enforce controls to minimize exposure to legal, financial, or reputational risks.
Other Functions:
- Prepare all Board materials to four Board subcommittees: Finance, Investment, Audit, Risk Management and also serves on selected task force groups (e.g. Strategic Planning).
- Prepare and present summary financial information at monthly Board of Trustee Executive Committee meetings and thrice-yearly meetings of the full Board.
- Ensure internal control systems are adequately designed and operating effectively.
- Oversee the annual financial statement audit.
- Oversee all tax and other required filings.
- Prepare cash flow projections and ensure adequate funding.
- Oversee budget development by the Facilities and Shipyard Directors for all construction and preservation projects from planning and fundraising stages through completion.
- Primary liaison with external investment manager regarding application of investment allocation decisions and monthly reporting.
- Participate in analysis of charitable giving programs and liaison with external auditor and legal counsel as required.
- Maintain banking relationships; negotiate credit facilities and ensure covenant compliance.
- Oversee and mentor finance team and ensure further development of a smoothly run and cohesive financial operation.
- Represent the museum at professional gatherings and civic events.
Requirements
- Academic credentials, professional experience, and personal maturity to immediately create and maintain a high degree of trust and credibility among all relevant parties.
- A proven track record of marketing experience and business development acumen.
- Demonstrated strategic planning skills.
- A collaborative and flexible operating style.
- Strong communication skills including experience and a disposition to explain finances and financial concepts to individuals with varying degrees of financial understanding.
- An understanding of or experience with a not-for-profit organization, ideally as a senior staff member or Board member.
- Appreciation, and ideally, passion for the Museum’s mission.
- Ability to read, analyze, and interpret complex documents; respond promptly and effectively to inquiries; write, prepare and deliver effective presentations to staff, board, and committee members, and the general public.
- Analytical skills, including modeling and the ability to apply logical thinking to a wide range of intellectual and practical problems.
- A minimum of 10-15 years of experience in a senior operational and/or financial role in a complex organization with multiple revenue streams.
- Proficiency with Microsoft Office Suite, experience with Sage, Tessitura and Ramp products a plus.
- BA required, CPA and/or MBA a plus
Salary Description
$220,000 - $250,000
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