Job Description
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Join to apply for the Chief Financial Officer role at YMCA of the USA
Lead Financial Visionary: Driving Strategic Growth and Stewardship at YMCA of Metropolitan Chicago!
Job Description The Chief Financial Officer (CFO) is a key member of the executive leadership team and reports to the President. The CFO is responsible for steering the YMCA of Metropolitan Chicagos and its Endowments financial strategy, ensuring financial health, and driving alignment with overarching business objectives in accordance with the strategy and policies of the Board of Trustees, President, and Executive Management. This role involves the oversight of all financial, treasury, compliance and various administrative functions. Areas of responsibility include planning, financial reporting, financial analysis, treasury, budgeting and administrative support function management.
The CFO must build, operate, and maintain an administrative and financial information system to deliver timely, accurate, and relevant financial and administrative information. The CFO must function well in a team environment collaborating well with both the Board of Managers, Executive Leadership Team and the Finance Organization The CFO serves as a strategic advisor to the CEO and board of directors, providing insights that shape business decisions and long-term growth initiatives and must have a good business acumen to contribute to development of Y strategic plans.
As the organization's financial steward, the CFO leads financial operations, fosters a culture of accountability and transparency, and builds strong relationships with internal and external stakeholders. The CFO is adept at balancing financial stewardship with innovation, growth, and stability.
As the organization's administrative leader, the CFO leads corporate functions that support the entire organization.
Qualifications - Bachelors degree, CPA or Masters in Business, Accounting, Finance or related field
- Ten or years of progressive accounting and leadership experience
- Five or more years in management roles
Essential Functions Financial Strategy, Planning and Strategic Initiatives - Responsible for all areas of financial strategy planning, business analysis, investment management, capital budgeting, and capital expenditure control; analyzing and interpreting financial data for the senior management; and advising senior management on the financial implications of proposed and current investments and expenditures
- Responsible for overseeing and managing accounting principles, standards, and procedures of the operations
- Participates in the strategic planning of grants administration
- Directly participates in the strategic planning process. Develop, maintain, and update annually a manual of policies and procedures for financial operations
- Evaluate execute and manage the liability structure of the Y , including assessment and implementation of Y debt financing, leasing, hedging and other financing options to effectively fund Y operations
Financial Reporting and Analysis - Responsible for providing accurate, transparent, credible, and timely analysis and reporting of current financial results, trends, and long-range forecasting to optimize financial performance to the Executive Team, all Associates with fiscal responsibility, Audit & Finance Committee, Executive Committee, and Board of Managers
- Responsible for providing senior management and the Board of Directors with advice on the financial implications of business activities and making recommendations to strategically enhance financial performance
- Prepare weekly and monthly financial statements, analysis and other financial reports for the Board Finance Committee, President, Senior Management, and all Associates with fiscal responsibilities
- Demonstrate financial acuity through a detailed understanding of and ability to communicate financial performance, including issues, areas of concern, and emerging trends; ability to contingency plan for budget and forecast shortfalls at all levels of the organization
Budgeting and Cost Management - Responsible for oversight, preparation, and accuracy of budget and related comparative reports, including spread and variance analysis
- Responsible for all areas of accounting, including budget preparation and control, income management, including billing and collection, and accounts payable
- Provide financial oversight for defined contribution plan, defined benefit plan, and other financial benefits
- Responsible for cash management and making recommendations for cost-savings procedures, debt management, and compliance; Holding the Y Leadership Team accountable for financial performance and cash usage targets and driving change and appropriate response actions when targets are unmet
- Demonstrate financial discipline in cash management and ability to keep the Y compliant with all external reporting requirements, such as debt covenants
Compliance - Assure accuracy of all IRS and government reporting, including corrections and amendments and inquiry responses as needed
- Ensure compliance with relevant federal, county, state, and city laws and regulations with good accounting and financial management practices Responsible for all monthly, quarterly, and annual regulatory and financial reporting, which includes grants, payroll taxes, property taxes, and any other reports as needed to all federal, state, and local agencies as required
- Keep apprised of compliance and regulatory issues in all areas of responsibility
- Coordinate the annual audit. The audit will be conducted in a timely manner to allow the Board and senior management ample time to correct any items in the management letter
- Responsible for managing relations, covenant compliance and reporting to YMCA debt holders and debt guarantors
Administrative Support Management - Responsible for the oversight and management of key corporate support functions such as HR, legal, Risk and IT
- Provide oversight and leadership for all areas of corporate support
- Responsible for risk management across all corporate functions
- Provide leadership for HR development and management
Leadership and Team Development - Exhibits strong leadership capabilities as a key Y leadership team member. This includes challenging decisions and investments unsupported by sound financial modeling
- Lead the development of an effective and highly efficient organizational design for the financial team
- Schedule, evaluate, train, supervise, mentor, lead and direct the finance and support departments
Stakeholder Relationships - Act as a liaison for the Board Finance and Investment Committee, setting dates, maintaining notes, and organizing meetings to ensure the committee covers the duties outlined in their charter
- Responsible for establishing and maintaining relationships with Banks, Audit/Accounting Firms, and Board of Managers and Board of Trustees and all interested third parties
- Interface with appropriate outside agencies, as directed by the CEO, to exchange information necessary for the successful operation of the Association. Perform problem resolution with outside agencies as needed
Mergers, Acquisitions - Responsible for running the process to include all required communication, approvals and analysis as set forth by Company policies and as directed by the Board of Directors and Board of Managers
Treasury - Lead and manage the Associations working capital needs in alignment with the Associations budget, forecast and Board directives
- Work directly with the Associations Investment Committee, financial institutions and investment consultants to ensure working capital and invested funds are managed to and in alignment with the Associations Investment Policy
Seniority level
Seniority level
Executive
Employment type
Employment type
Full-time
Job function
Job function
Finance and Sales Industries
Non-profit Organizations
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